Douglas Elliman Inc. announced the launch of Elliman Canada, a luxury real‑estate brokerage that will operate in Montreal, Toronto and Vancouver. The new venture is a joint venture with Ross McCredie, chairman and CEO of the Sutton Group, and includes an immediate referral program with Sutton, one of Canada’s largest residential brokerages.
The announcement was made at Douglas Elliman’s annual gathering in Aspen, Colorado, where CEO Michael S. Liebowitz and McCredie signed a ceremonial agreement. The partnership gives Elliman instant access to Sutton’s network of over 200 offices and 6,000 agents, allowing the company to replicate its U.S. luxury brokerage model in Canada’s affluent markets.
Elliman’s expansion follows a series of international entries, including recent launches in France, Monaco and St. Barths. The move is part of the company’s broader “Elliman International” strategy, which aims to build a global brand and generate cross‑border luxury sales and referral fees.
Douglas Elliman’s 2025 financial results provide a strong foundation for the Canadian launch. The company reported revenue of $1.033 billion and operating income of $45.5 million, reversing a substantial net loss in 2024. Cash balances of $115.5 million and no long‑term debt give the firm flexibility to invest in new markets.
"Canada represents a significant and timely opportunity for Elliman and our agents," said CEO Michael S. Liebowitz. "Throughout the year, we took bold steps to strengthen our core business, expand our presence in key luxury markets, and invest in technology, talent, and agent resources." CFO Bryant Kirkland added, "Our 2025 financial performance demonstrates the early benefits of our decisive actions to enhance profitability and operational efficiency."
The partnership is expected to broaden Elliman’s geographic footprint and create new revenue streams through cross‑border luxury sales and referral fees. By leveraging Sutton’s technology platform and market presence, Elliman aims to capture high‑margin transactions in Canada’s top luxury markets while maintaining its U.S. brand equity.
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