Douglas Elliman announced today that Dottie Herman has stepped down from the role of CEO to be replaced by it president and COO, Scott Durkin.
Herman will take on the role of vice chair at New York’s biggest residential brokerage.
“Douglas Elliman has proven to be my most rewarding professional experience to date,” said Durkin. “I look forward to expanding upon the legacy of our brand built by my friend and mentor Dottie Herman as the market leader in luxury real estate. I also welcome the opportunity to further advance our technology-focused initiatives that allow our agents to work faster and more efficiently on behalf of their customers and clients.”
Selected by Elliman executive chairman Howard M. Lorber and Herman, Durkin joined Douglas Elliman in 2015 as executive vice president of acquisitions and growth. He was promoted to Chief Operating Officer in October 2016 and named President in 2017.
With his new title, Durkin will continue to lead the brokerage, its operations, technology initiatives, and strategic growth efforts across the United States. During the 12 months ended June 30, 2021, Douglas Elliman closed nearly $43 billion in sales.
“As President and COO of Douglas Elliman, Scott has taken our firm to the next level with major initiatives to strengthen our brand, our culture, our technology and most importantly, the way our agents conduct their business,” said Lorber. “Scott is a talented, solution-driven and results-oriented leader, as demonstrated by his truly incredible performance helming the brokerage during the extremely challenging COVID-19 pandemic. He has established himself as a highly valued and respected executive and I am very proud to make this announcement.”
“It is a thrill to pass the CEO title to my friend Scott Durkin whose career I have watched since acquiring Elliman in 2003 when I joined the New York City brokerage community,” said Herman. “I am impressed by his experience, tenacity and his appeal to agents, managers and staff alike. Elliman is in excellent and very capable hands.”
Herman, one of Forbes List of America’s Self-Made Women, has been recognized as a leader in business by multiple organizations. In 2017 at the United Nations Women’s Entrepreneurship Day, she was awarded the Business Pioneer Award. She received REBNY’s Kenneth R. Gerrety Humanitarian Award and a BRAVA SmartCEO Award, recognizing exceptional female leaders.
In her role as vice chair, Herman will serve in an advisory capacity to Lorber and Durkin as well as continue to mentor Douglas Elliman executives and agents across the country.
“Dottie and I could not have imagined that the venture we embarked on in 2003 would grow into one of the largest and most important residential brokerage firms in the United States. Her vision for and dedication to Douglas Elliman has proven invaluable and I am grateful for her service,” said Lorber.
Herman added, “I could not be more proud of the company that Howard and I created and am excited for its future.”
Since beginning his career as a sales agent with the Corcoran Group in 1991, Durkin became a protégé of Barbara Corcoran and worked directly alongside her for many years. He was involved in many major milestones, including the sale of the company to NRT and the acquisition of brokerages in the Hamptons, Palm Beach and New York.
An avid equestrian with a passion for the dressage style of riding, Durkin and his husband live between Manhattan, upstate New York and Wellington, Florida.
