“We are deeply grateful for Stephen’s leadership and the lasting impact he has made at Douglas Elliman,” Michael Liebowitz, the CEO of Douglas Elliman, wrote in an internal memo obtained by The Real Deal.
In addition to Kotler stepping down, Douglas Elliman is also planning to close two offices in California, one in Malibu and another in Pasadena.
Kotler joined Douglas Elliman in 1991 and established the Kotler Group. Prior to starting his tenure as the head of the firm’s West Coast operations in 2016, he was also the chief operating officer of the brokerage.
During his time at the helm of Douglas Elliman’s western region, the brokerage acquired Teles Properties, adding 21 offices and more than 600 California agents.
Kotler’s departure comes at a time of significant change at Douglas Elliman. In October 2024, the brokerage announced that longtime CEO Howard Lorber was retiring. A few days later, the company fired brokerage CEO Scott Durkin. Liebowitz, the firm’s board director, was named the new chairman and CEO.
