Initially
rolling
out
in
Florida,
the
platform
will
expand
nationwide.
The
move
comes
amid
growing
competition
in
the
brokerage
space,
highlighted
by


Rocket
Companies’
recent

acquisition
of


Redfin.

Michael
Liebowitz,
president
and
CEO
of


Douglas
Elliman
Inc.,
said
bringing
the
mortgage
process
in-house
creates
“convenience
and
oversight”
to
the
real
estate
process.
Clients
will
have
access
to
“competitive
rates
and
diverse
loan
products”
in
a
“seamless
integration,”
he
added.

Elliman
Capital
will
provide
agents
with
direct
access
to
mortgage
professionals,
enabling
them
to
refer
clients,
track
loan
progress
and
receive
real-time
updates
from
property
search
to
closing.
Agents
will
have
access
to
products
from
multiple
national
and
regional
lenders. 

Products
include
conventional
and
jumbo
loans,
as
well
as
construction,
bridge,
investment
property,
commercial,
and
second
home
financing.
FHA,
VA,
and
USDA
loans
will
also
be
added.

The
platform
is
designed
to
support
a
wide
range
of
borrowers,
including
self-employed
individuals,
investors,
and
foreign
nationals.

“We’ve
engineered
Elliman
Capital
to
be
truly
inclusive,
offering
loan
products
that
meet
the
diverse
needs
of
today’s
homebuyers
and
investors,
from
all
over
the
globe,”
said
Jim
Bender,
director
of
Elliman
Capital
and
a
mortgage
services
veteran.

Management
will
have
to
show
Elliman’s
agents
that
the
in-house
mortgage
company
can
provide
a
top-quality
experience
for
clients.
Established
Elliman
agents
already
have
existing
relationships
with
mortgage
professionals
at
financial
institutions
(particularly
for
jumbo
mortgages)
and
at
large
independent
mortgage
banks
(IMBs).

This
venture
into
mortgage
by
Douglas
Elliman
comes
as
many
real
estate
brokerages
are
looking
to
improve
tight
margins
by
venturing
into

ancillary
services.
Brokerages
often
try
to
boost
revenue
by
launching
mortgage
and
title
companies
either
as
an
in-house
operation
or
through
a
joint
venture.

“Brokerages
will
have
to
make
that
money
somewhere
else,”
James
Dwiggins,
the
co-CEO
of

NextHome,
said
during

a
panel
on
brokerage
extinction
at

HousingWire’s
The
Gathering
in
June.
“I
don’t
think
this
will
happen
tomorrow,
but
sometime
over
the
next
three
to
five
years
you
are
going
to
see
consolidation,
not
just
among
brokerages,
but
also
among
services.” 

Douglas
Elliman
already
has
some
ancillary
services
(notably,
it
is
one
of
the
largest
property
managers
out
there
and
has
a
title
insurance
arm
as
well),
but
is
just
getting
started
in
mortgage.
Other
firms
like

HomeServices
of
America,

Anywhere,

Hanna
Holdings,
and

Samson
Properties
have
long
relied
on

ancillary
services
from
mortgage
and
title
for
a
meaningful
part
of
their
revenue.