Douglas Elliman Inc. (NYSE: DOUG) has embarked on a new two-pronged technology strategy.
The company announced the launch of Elius, a new company that will construct a proprietary intelligence platform using the company’s private luxury real estate data.
According to the company, Elius will be built with Google Cloud’s technology and leverage the Douglas Elliman data to generate new products, revenue streams, and businesses. The company added the data on Elias will be “behind a security layer that protects clients’ confidential information and is resistant to indiscriminate AI scraping, preserving its value.”
The launch of Elius coincides with a new company-wide technology infrastructure upgrade using AI-enabled automation powered by Google Cloud technology. In this endeavor, Douglas Elliman seeks to improve cost-efficiency through technology consolidation, workflow modernization, and workforce productivity improvements.
“The next era of this business will be defined by intelligence,” said Michael S. Liebowitz, president and CEO of Douglas Elliman Inc. “For generations, residential real estate has been organized around the transaction — and for just as long, the data that real estate transactions generate has been monetized by nearly everyone except the brokerages that create it. We are changing that model and taking it back.”
Liebowitz added, “Elius will launch as a new business that will be designed to utilize our most valuable and underappreciated assets — our current, future, and historical proprietary data of the industry’s premier luxury network — to create opportunities for new products, revenue streams, and businesses beyond brokerage. We believe this has the potential to create a materially larger addressable market, stronger and more durable economics, and a fundamentally different future for our stockholders, agent advisors, and staff.”
0 Comments