Scott Durkin replaces Dottie Herman as Elliman CEO
Douglas Elliman CEO Dottie Herman has resigned. Scott Durkin, President and Chief Operating Officer of the brokerage, will assume his duties with immediate effect.
In an interview, Durkin said the move has been in the works for six months.
“It’s not sudden and it’s in line with our plans for the company,” he said. “It was in the planning and it was exactly when we planned to announce it.”
Bloomberg first reported the news Tuesday morning.
Herman bought Elliman in 2003 in partnership with Howard Lorber, executive chairman of the company. It sold its 29% stake in the brokerage for $ 40 million in 2018, making Lorber’s Vector Group its sole owner.
Durkin said Herman would remain involved with the company at a “consultative level” as a vice president and continue to participate in events and mentor employees and agents.
Herman could not be reached immediately. She told Bloomberg that Elliman “is in excellent and very capable hands.” Last week, Herman appeared on Fox Business to talk about the New York real estate market and concerns about rising crime.
Durkin joined Elliman in 2015 to lead the company’s national expansion. He was hired at Corcoran, where he started working as an agent in 1991. Two years later he was appointed president, a new position within the company, which hinted that he was in the process. to be prepared to replace Herman.
Durkin denied this at the time, and did so again in an interview in May with The real deal, claiming that there had been no conversation about the estate at the brokerage house.
“This is probably the most difficult conversation for a business to have,” he said. “We had no conversation.”
Elliman’s parent company will release its second quarter results on Thursday.