Douglas Elliman (DOUG) 10-Q12 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 12, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity Registrant Name	DOUGLAS ELLIMAN INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	1-41054
Entity Tax Identification Number	87-2176850
Entity Address, Address Line One	4400 Biscayne Boulevard
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33137
City Area Code	305
Local Phone Number	579-8000
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	DOUG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		89,166,991
Entity Central Index Key	0001878897
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 151,416	$ 119,808
Receivables	22,078	21,809
Agent receivables, net	9,731	11,721
Income taxes receivable, net	0	5,292
Restricted cash and cash equivalents	3,364	7,171
Other current assets	18,958	15,474
Total current assets	205,547	181,275
Property, plant and equipment, net	38,200	39,718
Operating lease right-of-use assets	98,931	108,172
Long-term investments (includes $4,256 and $3,983 at fair value)	11,244	12,871
Contract assets, net	35,317	36,040
Goodwill	32,230	32,230
Other intangible assets, net	72,471	72,964
Deferred income taxes, net	0	977
Equity-method investments	2,031	1,960
Other assets	6,699	7,212
Total assets	502,670	493,419
Current liabilities:
Current operating lease liability	20,513	22,235
Income taxes payable, net	337	0
Accounts payable	2,815	6,136
Commissions payable	23,737	24,561
Accrued salaries and benefits	5,501	12,912
Contract liabilities	15,132	11,234
Other current liabilities	21,637	20,171
Total current liabilities	89,672	97,249
Notes payable less current portion	32,068	0
Fair value of derivatives embedded within convertible debt	35,441	0
Non-current operating lease liabilities	101,851	110,705
Contract liabilities	59,380	51,178
Litigation settlement	10,000	0
Other liabilities	312	133
Total liabilities	328,724	259,265
Commitments and contingencies (Note 8)
Stockholders' equity:
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized	0	0
Common stock, par value $0.01 per share, 250,000,000 shares authorized, 91,832,616 and 87,925,412 shares issued and outstanding	918	879
Additional paid-in capital	290,571	279,904
Accumulated deficit	(117,871)	(47,552)
Total Douglas Elliman Inc. stockholders' equity	173,618	233,231
Non-controlling interest	328	923
Total stockholders' equity	173,946	234,154
Total liabilities and stockholders' equity	$ 502,670	$ 493,419

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Long-term investments, fair value	$ 4,256	$ 3,983
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	91,832,616	87,925,412
Common stock, shares outstanding (in shares)	91,832,616	87,925,412

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 266,316	$ 251,548	$ 752,306	$ 741,442
Expenses:
Sales and marketing	19,240	20,770	62,691	64,170
General and administrative	28,659	28,817	80,530	92,371
Depreciation and amortization	1,898	1,999	5,808	6,031
Litigation settlement	0	0	17,750	0
Restructuring	18	215	616	1,932
Operating loss	(7,431)	(8,821)	(52,568)	(40,926)
Other income (expenses):
Interest expense	(1,461)	(4)	(1,475)	(22)
Interest expense	1,551	1,789	3,989	4,282
Equity in earnings (losses) from equity-method investments	62	10	49	(143)
Change in fair value of derivatives embedded within convertible debt	(20,166)	0	(20,166)	0
Investment (loss) gains	(4)	27	625	109
Loss before provision for income taxes	(27,449)	(6,999)	(69,546)	(36,700)
Income Tax Expense (Benefit)	0	(1,869)	1,368	(8,552)
Net loss	(27,449)	(5,130)	(70,914)	(28,148)
Net loss attributed to non-controlling interest	269	264	595	439
Net loss attributed to Douglas Elliman Inc.	$ (27,180)	$ (4,866)	$ (70,319)	$ (27,709)
Per basic common share:
Net loss applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	$ (0.33)	$ (0.06)	$ (0.84)	$ (0.34)
Per diluted common share:
Net loss applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	$ (0.33)	$ (0.06)	$ (0.84)	$ (0.34)
Commissions and other brokerage income
Revenues:
Total revenues	$ 254,074	$ 239,255	$ 714,652	$ 703,780
Property management
Revenues:
Total revenues	8,960	8,697	27,701	26,849
Other ancillary services
Revenues:
Total revenues	3,282	3,596	9,953	10,813
Real estate agent commissions
Expenses:
Costs related to sales	199,133	185,845	564,606	546,749
Operations and support
Expenses:
Costs related to sales	18,774	17,121	55,572	53,338
Technology
Expenses:
Costs related to sales	$ 6,025	$ 5,602	$ 17,301	$ 17,777

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Non-controlling Interest
Beginning Balance (in shares) at Dec. 31, 2022		80,881,022
Beginning Balance at Dec. 31, 2022	$ 270,457	$ 809	$ 273,111	$ (5,000)	$ 1,537
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(28,148)			(27,709)	(439)
Restricted stock grants (in shares)		3,585,000
Restricted stock grants	0	$ 36	(36)
Distributions and dividends on common stock (in shares)		(372)
Distributions and dividends on common stock	(4,222)		(4,222)
Withholding of shares as payment of tax liabilities in connection with restricted stock vesting (in shares)		(3,935)
Withholding of shares as payment of tax liabilities in connection with restricted stock vesting	(11)		(11)
Effect of stock dividend (in shares)		4,220,604
Effect of stock dividend	0	$ 42	(42)
Stock-based compensation	9,666		9,666
Ending Balance (in shares) at Sep. 30, 2023		88,682,319
Ending Balance at Sep. 30, 2023	247,742	$ 887	278,466	(32,709)	1,098
Beginning Balance (in shares) at Jun. 30, 2023		88,632,319
Beginning Balance at Jun. 30, 2023	249,430	$ 886	275,025	(27,843)	1,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(5,130)			(4,866)	(264)
Restricted stock grants (in shares)		50,000
Restricted stock grants	0	$ 1	(1)
Stock-based compensation	3,442		3,442
Ending Balance (in shares) at Sep. 30, 2023		88,682,319
Ending Balance at Sep. 30, 2023	$ 247,742	$ 887	278,466	(32,709)	1,098
Beginning Balance (in shares) at Dec. 31, 2023	87,925,412	87,925,412
Beginning Balance at Dec. 31, 2023	$ 234,154	$ 879	279,904	(47,552)	923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(70,914)			(70,319)	(595)
Restricted stock grants (in shares)		4,135,750
Restricted stock grants	0	$ 41	(41)
Withholding of shares as payment of tax liabilities in connection with restricted stock vesting (in shares)		(9,921)
Withholding of shares as payment of tax liabilities in connection with restricted stock vesting	(11)		(11)
Restricted stock grant cancelled (in shares)		(218,625)
Restricted stock grant cancelled	0	$ (2)	2
Stock-based compensation	$ 10,717		10,717
Ending Balance (in shares) at Sep. 30, 2024	91,832,616	91,832,616
Ending Balance at Sep. 30, 2024	$ 173,946	$ 918	290,571	(117,871)	328
Beginning Balance (in shares) at Jun. 30, 2024		91,714,666
Beginning Balance at Jun. 30, 2024	197,508	$ 917	286,685	(90,691)	597
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(27,449)			(27,180)	(269)
Restricted stock grants (in shares)		117,950
Restricted stock grants	0	$ 1	(1)
Stock-based compensation	$ 3,887		3,887
Ending Balance (in shares) at Sep. 30, 2024	91,832,616	91,832,616
Ending Balance at Sep. 30, 2024	$ 173,946	$ 918	$ 290,571	$ (117,871)	$ 328

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical)	9 Months Ended
	Sep. 30, 2023 $ / shares
Statement of Stockholders' Equity [Abstract]
Distributions and dividends on common stock (in dollars per share)	$ 0.05

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (70,914)	$ (28,148)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,808	6,031
Non-cash stock-based compensation expense	10,717	9,666
Loss on sale of assets	205	37
Deferred income taxes	977	(8,552)
Net gains on investment securities	(625)	(109)
Equity in (earnings) losses from equity-method investments	(49)	143
Non-cash interest expense	590	0
Non-cash lease expense	15,727	16,587
Loss on changes in fair value of derivatives embedded within convertible debt	20,166	0
Provision for credit losses	4,138	3,645
Changes in assets and liabilities:
Receivables	(2,417)	(9,459)
Income taxes receivables, net	5,629	1,393
Accounts payable and accrued liabilities	(2,679)	9,168
Operating right-of-use assets and operating lease liabilities, net	(17,062)	(17,193)
Accrued salary and benefits	(7,411)	(8,247)
Litigation settlement	10,000	0
Other	10,213	(2,735)
Net cash used in operating activities	(16,987)	(27,773)
Cash flows from investing activities:
Purchase of debt securities	0	(25)
Proceeds from sale or liquidation of long-term investments	2,523	408
Purchase of equity securities	0	(300)
Purchase of long-term investments	(259)	(190)
Capital expenditures	(4,273)	(5,380)
Net cash used in investing activities	(2,009)	(5,487)
Cash flows from financing activities:
Proceeds from debt issuance	48,750	0
Deferred financing charges	(1,997)	0
Dividends on common stock	0	(4,222)
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting	(11)	(11)
Net cash provided by (used in) financing activities	46,742	(4,233)
Net increase (decrease) in cash, cash equivalents and restricted cash	27,746	(37,493)
Cash, cash equivalents and restricted cash, beginning of period	129,517	171,382
Cash, cash equivalents and restricted cash, end of period	$ 157,263	$ 133,889

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation : Douglas Elliman Inc. (“Douglas Elliman” or the “Company”) i s engaged in the real estate services and property technology investment business and is seeking to acquire or invest in additional real estate services and property technology, or PropTech, companies. The condensed consolidated financial statements of Douglas Elliman include the accounts of DER Holdings LLC and New Valley Ventures LLC (“New Valley Ventures”), directly and indirectly wholly owned subsidiaries of the Company, respectively. DER Holdings LLC owns Douglas Elliman Realty, LLC and Douglas Elliman of California, Inc., which are engaged in the residential real estate brokerage business with their subsidiaries. The operations of New Valley Ventures consist of minority investments in innovative PropTech companies. Certain references to “Douglas Elliman Realty” refer to the Company’s residential real estate brokerage business, including the operations of Douglas Elliman Realty, LLC and Douglas Elliman of California Inc., unless otherwise specified. The unaudited, interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and, in management’s opinion, contain all adjustments, consisting only of normal recurring items, necessary for a fair statement of the results for the periods presented. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. References to U.S. GAAP issued by the Financial Accounting Standards Board (“FASB”) are to the FASB Accounting Standards Codification, also referred to as the “Codification” or “ASC.” These condensed consolidated financial statements should be read in conjunction with the combined consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”) filed with the Securities and Exchange Commission (“SEC”). The condensed consolidated results of operations for interim periods should not be regarded as necessarily indicative of the results that may be expected for the entire year. In presenting the condensed consolidated financial statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. (b) Principles of Consolidation : The condensed consolidated financial statements include the assets, liabilities, revenues, expenses and cash flows of DER Holdings LLC and New Valley Ventures as well as all other entities in which Douglas Elliman has a controlling financial interest. All intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. When evaluating an entity for consolidation, Douglas Elliman first determines whether an entity is within the scope of the guidance for consolidation of variable interest entities (“VIE”) and if it is deemed to be a VIE. If the entity is considered to be a VIE, Douglas Elliman determines whether it would be considered the entity’s primary beneficiary. Douglas Elliman consolidates those VIEs for which it has determined that it is the primary beneficiary. Douglas Elliman will consolidate an entity that is not deemed a VIE upon a determination that it has a controlling financial interest. For entities where Douglas Elliman does not have a controlling financial interest, the investments in such entities are classified as available-for-sale securities or accounted for using the equity or cost method, as appropriate. (c) Estimates and Assumptions : The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant estimates subject to material changes in the near term include impairment charges and valuation of intangible assets. Actual results could differ from those estimates. (d) Loss Per Share (“EPS”) : The Company has restricted stock awards which will provide dividends at the same rate as paid on the common stock with respect to the shares underlying the restricted stock awards. These outstanding restricted stock awards represent participating securities under authoritative guidance. The participating securities holders do not participate in the Company’s net losses. There were no outstanding non-participating securities during the three and nine months ended September 30, 2024 and 2023, respectively. The Company last paid a cash dividend during the quarter ended March 31, 2023. Information concerning the Company’s common stock has been adjusted to give retroactive effect to the 5% stock dividend distributed to Company stockholders on June 30, 2023. All per-share amounts and references to share amounts have been updated to reflect the retrospective effect of the stock dividend. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net loss attributed to Douglas Elliman Inc. $ (27,180) $ (4,866) $ (70,319) $ (27,709) Income attributable to participating securities — — — (307) Net loss available to common stockholders attributed to Douglas Elliman Inc. $ (27,180) $ (4,866) $ (70,319) $ (28,016) Basic EPS is computed by dividing net loss available to common stockholders attributed to Douglas Elliman Inc. by the weighted-average number of shares outstanding, which will include vested restricted stock. Basic and diluted EPS were calculated using the following shares of common stock for the periods presented below: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Weighted-average shares for basic and diluted EPS 83,532,069 82,199,757 83,401,374 82,196,583 The following was outstanding during the three and nine months ended September 30, 2024 and 2023, but were not included in the computation of diluted EPS because the effect was anti-dilutive: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Weighted-average number of shares issuable upon conversion of debt 33,333,333 — 33,333,333 — Weighted-average conversion price $ 1.50 $ — $ 1.50 $ — (e) Reconciliation of Cash, Cash Equivalents and Restricted Cash : Restricted cash amounts included in current assets and other assets represent cash and cash equivalents required to be deposited into escrow for amounts required for letters of credit related to office leases, and certain deposit requirements for banking arrangements. The restrictions related to the letters of credit will remain in place for the duration of the respective lease. The restrictions related to the banking arrangements will remain in place for the duration of the arrangement. The components of “Cash, cash equivalents and restricted cash” in the condensed consolidated statements of cash flows were as follows: September 30, December 31, Cash and cash equivalents $ 151,416 $ 119,808 Restricted cash and cash equivalents included in current assets 3,364 7,171 Restricted cash and cash equivalents included in other assets 2,483 2,538 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 157,263 $ 129,517 (f) Goodwill and Other Intangible Assets: Goodwill and intangible assets with indefinite lives are not amortized, but instead are tested for impairment on an annual basis, as of October 1, or whenever events or changes in business circumstances indicate the carrying value of the assets may not be recoverable. The Company follows ASC 350, Intangibles – Goodwill and Other , and subsequent updates including ASU 2011-08, Testing Goodwill for Impairment and ASU 2017-14, Simplifying the Test for Goodwill Impairment . The amendments permit entities to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company concludes that it is more likely than not that a reporting unit’s fair value is less than its carrying value or chooses to bypass the optional qualitative assessment, the Company then assesses recoverability by comparing the fair value of the reporting unit to its carrying amount; otherwise, no further impairment test would be required. The fair value of the intangible asset associated with the Douglas Elliman trademark is determined using a “relief from royalty payments” method. This approach involves two steps: (i) estimating reasonable royalty rates for its trademark associated with the Douglas Elliman trademark and (ii) applying these royalty rates to a net sales stream and discounting the resulting cash flows to determine fair value. This fair value is then compared with the carrying value of the trademark. In the three months ended September 30, 2024, the Company utilized third-party valuation specialists to prepare a quantitative assessment of its goodwill and trademark intangible assets, based on the current market conditions in the residential real estate brokerage industry which did not result in impairment charges related to its goodwill or trademark as of September 30, 2024. If the Company fails to achieve the financial projections used in the quantitative assessments of fair value and current market conditions continue to deteriorate, impairment charges could result in future periods, and such impairment charges could be material. (g) Related Party Transactions : Agreements with Vector Group Ltd. (“Vector Group”). The Company paid Vector Group $1,050 and $3,150 under that certain transition services agreement, dated December 21, 2021, by and between the Company and Vector Group (“the Transition Services Agreement”) during the three and nine months ended September 30, 2024 and 2023, respectively. The Company paid Vector Group $235 and $1,830 under certain aircraft lease agreements entered into with affiliates of Vector Group (the “Aircraft Lease Agreements”) during the three and nine months ended September 30, 2024, respectively, and $452 and $1,748 for the three and nine months ended September 30, 2023, respectively. The Aircraft Lease Agreements have been terminated. See (k) - Subsequent events. Real estate commissions. Real estate commissions include commissions of approximately $308 and $2,325 for the three and nine months ended September 30, 2024, respectively, and $104 and $946 for the three and nine months ended September 30, 2023, respectively, from projects where the Company has been engaged by certain developers as the sole broker or the co-broker for real estate development projects that Vector Group owns an interest in through its real estate venture investments. (h) Investment (Loss) Gains : Investment (loss) gains consist of the following: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net gains recognized on PropTech convertible trading debt securities $ — $ — $ — $ 187 Net unrealized gains (losses) recognized on long-term investments at fair value (22) 27 106 (78) Net gains recognized on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient 18 — 519 — Investment (loss) gains $ (4) $ 27 $ 625 $ 109 (i) Restructuring : Employee severance and benefits expensed for the nine months ended September 30, 2023 relate entirely to the reduction in staff and are cash charges. The amount expensed for the nine months ended September 30, 2023 was $1,932 and was included in Restructuring expense in the Company’s condensed consolidated statements of operations. The following table presents the changes in the employee severance and benefits liability under the Real Estate Brokerage segment restructuring plan for the nine months ended September 30, 2024: Employee Severance and Benefits Severance liability balance at January 1, 2024 $ 767 Severance expense 616 Severance payments (1,066) Severance liability at September 30, 2024 $ 317 (j) Other Comprehensive Income : The Company does not have any activity that results in Other Comprehensive Income; therefore, no statement of Comprehensive Income is included in the condensed consolidated financial statements. (k) Subsequent Events : On October 17, 2024, the Company delivered notices of termination to terminate, effective as of November 16, 2024, the Aircraft Lease Agreements. On October 21, 2024, the Company’s Chairman of the Board of Directors, President and Chief Executive Officer, notified the Company’s Board of his resignation as Chairman of the Board, President and Chief Executive Officer, effective immediately. In connection with his cessation of employment with the Company, the Company cancelled 2,965,625 unvested shares of common stock subject to vesting pursuant to the Issuer’s 2021 Management Incentive Plan. On October 25, 2024, the President and Chief Executive Officer of the Company’s subsidiary, Douglas Elliman Realty LLC, was terminated effective immediately. On October 30, 2024, the Company and James D. Ballard, Senior Vice President - Enterprise Efficiency and Chief Technology Officer, mutually agreed to terminate Mr. Ballard’s employment, effective immediately. Mr. Ballard will be entitled to (i) receive cash payment in an amount equal to $835; (ii) acceleration of all unvested equity and option grants; and (iii) participation in a COBRA plan for 18 months. The Company has evaluated subsequent events through November 12, 2024, the date the financial statements were issued. (l) New Accounting Pronouncements : ASUs to be adopted in future periods : In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures. The ASU requires that all public entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. The ASU requires that all public entities improve the reportable segment disclosure primarily through enhanced disclosures about significant segment expenses. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. (m) SEC Rule Changes : On March 6, 2024, the SEC passed rule changes that will require registrants to provide certain climate-related information in their registration statements and annual reports. The rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. On April 4, 2024, the SEC voluntarily stayed the rules pending the resolution of certain legal challenges. The Company is currently evaluating the impact of the rule changes.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
REVENUE RECOGNITION	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Disaggregation of Revenue In the following tables, revenue is disaggregated by major services line and primary geographical market: Three Months Ended September 30, 2024 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 77,936 $ 53,281 $ 54,030 $ 44,270 $ 229,517 Commission and other brokerage income - development marketing 7,332 120 16,359 746 24,557 Property management revenue 8,773 187 — — 8,960 Escrow and title fees 19 9 — 3,254 3,282 Total revenue $ 94,060 $ 53,597 $ 70,389 $ 48,270 $ 266,316 Three Months Ended September 30, 2023 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 70,997 $ 52,138 $ 57,261 $ 45,010 $ 225,406 Commission and other brokerage income - development marketing 7,453 50 5,616 730 13,849 Property management revenue 8,509 188 — — 8,697 Escrow and title fees 258 158 — 3,180 3,596 Total revenue $ 87,217 $ 52,534 $ 62,877 $ 48,920 $ 251,548 Nine Months Ended September 30, 2024 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 205,962 $ 138,487 $ 189,742 $ 138,208 $ 672,399 Commission and other brokerage income - development marketing 18,253 341 21,281 2,378 42,253 Property management revenue 27,127 574 — — 27,701 Escrow and title fees 440 266 19 9,228 9,953 Total revenue $ 251,782 $ 139,668 $ 211,042 $ 149,814 $ 752,306 Nine Months Ended September 30, 2023 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 211,243 $ 134,191 $ 178,604 $ 133,004 $ 657,042 Commission and other brokerage income - development marketing 22,116 911 21,893 1,818 46,738 Property management revenue 26,284 565 — — 26,849 Escrow and title fees 1,183 595 — 9,035 10,813 Total revenue $ 260,826 $ 136,262 $ 200,497 $ 143,857 $ 741,442 Contract Balances The following table provides information about contract assets and contract liabilities from development marketing and commercial leasing contracts with customers: September 30, December 31, 2023 Receivables, which are included in receivables $ 1,722 $ 1,846 Contract assets, net, which are included in other current assets 9,079 6,030 Contract assets, net, which are in other assets 35,317 36,040 Payables, which are included in commissions payable 1,228 1,357 Contract liabilities, which are in current liabilities 15,132 11,234 Contract liabilities, which are in other liabilities 59,380 51,178 The Company recognized revenue of $8,293 ($4,311 of consulting, administration and net commissions) and $12,508 ($7,299 of consulting, administration and net commissions) for the three and nine months ended September 30, 2024, respectively, that were included in the contract liabilities balances at December 31, 2023. The Company recognized revenue of $8,681 ($7,688 of consulting, administration and net commissions) and $20,043 ($14,085 of consulting, administration and net commissions) for the three and nine months ended September 30, 2023, respectively, that were included in the contract liabilities balances at December 31, 2022.

CURRENT EXPECTED CREDIT LOSSES

CURRENT EXPECTED CREDIT LOSSES	9 Months Ended
CURRENT EXPECTED CREDIT LOSSES	Sep. 30, 2024
Credit Loss [Abstract]
CURRENT EXPECTED CREDIT LOSSES	CURRENT EXPECTED CREDIT LOSSES Real estate broker agent receivables: Douglas Elliman Realty is exposed to credit losses for various amounts due from real estate agents, which are included in Agent receivables, net on the condensed consolidated balance sheets, net of an allowance for credit losses. The Company estimates its allowance for credit losses on receivables from agents based on an evaluation of aging, agent sales in pipeline, any security, specific exposures, historical experience of collections from the individual agents, and current and expected future market trends. The Company estimated that the credit losses for these receivables were $5,231 and $5,575 at September 30, 2024 and December 31, 2023, respectively. The following table summarizes changes in the allowance for credit losses for the nine months ended September 30, 2024: January 1, Current Period Provision Write-offs Recoveries September 30, Allowance for credit losses: Real estate broker agent receivables $ 5,575 $ 4,138 (1) $ 4,482 $ — $ 5,231 _____________________________ (1) The current period provision for the real estate broker agent receivables is included in “General and administrative expenses” in the Company’s condensed consolidated statements of operations. The following table summarizes changes in the allowance for credit losses for the nine months ended September 30, 2023: January 1, Current Period Provision Write-offs Recoveries September 30, Allowance for credit losses: Real estate broker agent receivables $ 10,916 $ 3,645 (1) $ 1,895 $ — $ 12,666 _____________________________ (1) The current period provision for the real estate broker agent receivables is included in “General and administrative expenses” in the Company’s condensed consolidated statements of operations.

LEASES

LEASES	9 Months Ended
LEASES	Sep. 30, 2024
Leases [Abstract]
LEASES	LEASES The Company has operating leases for corporate and sales offices and equipment. The components of lease expense, which were included in Sales and marketing expense on the condensed consolidated statements of operations, were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Operating lease cost $ 7,255 $ 8,539 $ 23,515 $ 25,184 Short-term lease cost 194 296 643 948 Variable lease cost 1,111 1,161 3,172 3,291 Less: Sublease income (30) (189) (117) (498) Total lease cost $ 8,530 $ 9,807 $ 27,213 $ 28,925 Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of lease liabilities : Operating cash flows from operating leases $ 24,874 $ 25,861 Right-of-use assets obtained in exchange for lease obligations : Operating leases 7,579 10,881 Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term : Operating leases 5.95 6.38 Weighted average discount rate : Operating leases 8.63 % 8.63 % As of September 30, 2024, maturities of lease liabilities were as follows: Operating Leases Period Ending December 31: Remainder of 2024 $ 7,980 2025 30,154 2026 27,408 2027 24,162 2028 21,233 2029 17,100 Thereafter 31,070 Total lease payments 159,107 Less imputed interest (36,743) Total $ 122,364 As of September 30, 2024, the Company had $686 undiscounted lease payments relating to real estate leases that have not yet commenced. The operating leases will commence in the fourth quarter of 2024 with lease terms ranging between 1.2 years and 5.4 years.

LONG-TERM INVESTMENTS

LONG-TERM INVESTMENTS	9 Months Ended
LONG-TERM INVESTMENTS	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
LONG-TERM INVESTMENTS	LONG-TERM INVESTMENTS Long-term investments consisted of the following: September 30, December 31, 2023 PropTech convertible trading debt securities $ 1,162 $ 1,162 Long-term investment securities at fair value (1) 3,094 2,821 PropTech investments at cost 8,150 8,888 PropTech investments under equity method 631 570 Total investments 13,037 13,441 Less PropTech current convertible trading debt securities (2) 1,162 — Less PropTech investments accounted for under the equity method (3) 631 570 Total long-term investments $ 11,244 $ 12,871 _____________________________ (1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820. (2) These amounts are included in “Other current assets” on the condensed consolidated balance sheets. (3) These amounts are included in “Equity-method investments” on the condensed consolidated balance sheets. Net realized and unrealized (losses) gains recognized on long-term investment securities were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net realized gains recognized on PropTech convertible trading debt securities $ — $ — $ — $ 187 Net unrealized (losses) gains recognized on long-term investments at fair value (22) 27 106 (78) Net gains recognized on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient 18 — 519 — Net realized and unrealized (losses) gains recognized on long-term investment securities $ (4) $ 27 $ 625 $ 109 (a) PropTech Convertible Trading Debt Securities: These securities are classified as trading debt securities and are accounted for at fair value. The remaining convertible note matures in February 2025. (b) Long-Term Investment Securities at Fair Value: The following is a summary of unrealized (losses) gains recognized in net loss on long-term investment securities at fair value during the three and nine months ended September 30, 2024 and 2023, respectively: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net unrealized (losses) gains recognized on long-term investment at fair value $ (22) $ 27 $ 106 $ (78) The Company has unfunded commitments of $658 related to long-term investment securities at fair value as of September 30, 2024. (c) Equity Securities Without Readily Determinable Fair Values That Do Not Qualify for the NAV Practical Expedient Equity securities without readily determinable fair values that do not qualify for the NAV practical expedient consisted of investments in various limited liability companies as of September 30, 2024. The total carrying value of equity securities without readily determinable fair values that do not qualify for the NAV practical expedient was $8,150 as of September 30, 2024 and $8,888 as of December 31, 2023. The Company recorded an impairment of $489 for the nine months ended September 30, 2024. The impairment was included in “Investment and other gains” on the condensed consolidated statements of operations. No impairment or other adjustments related to observable price changes in orderly transactions for identical or similar investments were identified for the three and nine months ended September 30, 2023.

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	9 Months Ended
EQUITY METHOD INVESTMENTS	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS Equity method investments consisted of the following: September 30, 2024 December 31, 2023 Ancillary services ventures $ 2,031 $ 1,960 At September 30, 2024, the Company’s ownership percentages in these investments ranged from 5.9% to 50.0%; therefore, the Company accounts for these investments under the equity method of accounting. VIE Consideration: The Company has determined that the Company is not the primary beneficiary of any of its equity method investments because it does not control the activities that most significantly impact the economic performance of each investment. The Company determined that the entities were VIEs but the Company was not the primary beneficiary. Therefore, the Company’s equity method investments have been accounted for under the equity method of accounting. Maximum Exposure to Loss: The Company’s maximum exposure to loss from its equity method investments consists of the net carrying value of the investments adjusted for any future capital commitments and/or guarantee arrangements. The maximum exposure to loss was $2,031 as of September 30, 2024.

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
NOTES PAYABLE	Sep. 30, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE Notes payable consisted of the following: September 30, December 31, 2023 Convertible Notes, net of unamortized discount of $17,932 and $0 $ 32,068 $ — Aggregate carrying value $ 32,068 $ — * The fair value of the derivatives embedded within the 7.0% Convertible Note ($35,441 at September 30, 2024 and $0 at December 31, 2023 respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets. 7.0% Convertible Notes due 2029: On July 2, 2024, the Company, Alter Domus (US) LLC, as collateral agent, and entities (the “Purchasers”) advised or managed by Kennedy Lewis Investment Management LLC (“KLIM”) entered into a Securities Purchase Agreement pursuant to which the Company agreed to issue and sell to the Purchasers, and the Purchasers agreed to purchase from the Company, $50,000 aggregate principal amount of the Company’s newly issued senior secured convertible promissory notes due July 2, 2029 (the “Convertible Notes”) in a private placement transaction in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended. The Company intends to use the net proceeds from the sale of the Convertible Notes for general corporate purposes. The issuance and sale of the Convertible Notes contemplated by the Purchase Agreement were consummated on July 2, 2024. The Convertible Notes bear interest at a rate of 7.0% per annum payable in cash, or, at the Company’s election, 8.0% per annum paid in kind, due semi-annually. The maturity date of the Convertible Notes is July 2, 2029. The Purchasers have the right to elect at any time to convert the Convertible Notes into shares of the Company’s common stock at an initial conversion price equal to $1.50 per share of common stock, so long as the aggregate number of shares of common stock beneficially owned by such Purchaser (together with its affiliates) would not exceed 4.99% (the “Beneficial Ownership Limitation”) of the number of shares of common stock outstanding immediately after giving effect to the conversion, as such percentage ownership is determined in accordance with the terms of the Convertible Note. The Purchasers have the right to increase or decrease the Beneficial Ownership Limitation upon no less than 61 days’ prior written notice to the Company, provided that the Beneficial Ownership Limitation may in no event exceed 24.99% of the number of shares of common stock outstanding immediately after giving effect to the conversion. The initial conversion price of the Convertible Notes represents a premium of approximately 19% to the last reported sale price of the common stock on the New York Stock Exchange on July 1, 2024. The conversion price will be subject to certain customary anti-dilution adjustments. Assuming the Convertible Notes are converted in full (without issuance of any make-whole shares), and based on the current number of shares of common stock outstanding, the Purchasers would beneficially own approximately 27% of the shares of common stock outstanding on an as-converted basis. The Convertible Notes are senior secured obligations of the Company and are guaranteed by certain of the Company’s direct and indirect subsidiaries (the “Subsidiary Guarantors”) and secured by first priority security interests in substantially all of the assets of the Company and the Subsidiary Guarantors, subject to customary exceptions. On or after July 2, 2027, the Company will have the right to redeem up to one-third of the initial outstanding principal and capitalized interest of the Convertible Notes (the “Redemption Amount”) in cash if the last reported sale price of the common stock equals or exceeds 200% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) in a 30-day trading period. On or after January 2, 2028, the Company will have the right to redeem the Redemption Amount in cash if the last reported sale price of the common stock equals or exceeds 225% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) in a 30-day trading period. On or after July 2, 2028, the Company will have the right to redeem the Redemption Amount in cash if the last reported sale price of the common stock equals or exceeds 250% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) in a 30-day trading period. The Company may not redeem more than the Redemption Amount in any rolling six-month period after July 2, 2027. In each case, such optional redemption would entitle the holder of the Convertible Notes to convert into shares of common stock calculated pursuant to a customary make-whole table prior to the applicable redemption date. In the event of certain major transactions, the Company will be required to repay the Convertible Notes on the date on which such transaction occurs at a price equal to the greater of (i) the outstanding principal and capitalized interest on the Convertible Note plus a make-whole premium and (ii) the sum of (a) the fair market value of the as-converted amount of the Convertible Note for common stock plus (b) the fair market value of additional make-whole shares calculated pursuant to a customary make-whole table. In the event of a major transaction triggered by (i) the common stock or, following an earlier merger, consolidation or similar transaction, the equity securities of a successor entity, ceasing to be listed on a national trading market or (ii) the sale of the Company’s property management business, the Purchasers may decline to be repaid. In addition, upon certain fundamental transactions that do not result in the foregoing major transactions, the right to convert the Convertible Notes into shares of common stock will be converted into the right to receive the shares of a successor entity, if any, or the Company and any additional consideration receivable as a result of such transaction. The Purchase Agreement also contains certain affirmative and negative covenants (including restrictions on the Company’s ability to incur indebtedness, permit liens, make dividends or distributions, consummate investments and consummate certain affiliate transactions). In addition, pursuant to the Purchase Agreement, if the Company’s Consolidated Adjusted EBITDA (as defined in the Purchase Agreement) for any two consecutive fiscal quarters from and after the fiscal quarter commencing July 1, 2024 is less than $0, the Company will be required to maintain Liquidity (as defined in the Purchase Agreement) of at least $20,000 as of the end of each calendar month until such time as the Company’s Consolidated Adjusted EBITDA is greater than $0 at the end of any subsequent fiscal quarter. The Company was in compliance with all covenants as of September 30, 2024. The Convertible Notes provide for customary events of default which include (subject in certain cases to customary grace and cure periods), among others, the following: nonpayment of principal or interest, breach of covenants or other agreements in the Purchase Agreement and Convertible Notes, certain bankruptcy or insolvency events, the failure of the common stock to be eligible for listing or quotation on a national trading market and the failure of the Company to file certain required reports under the Exchange Act of 1934, as amended (the “Exchange Act”). Upon an event of default, the holders of the Convertible Notes may declare the outstanding principal amount of the Convertible Notes plus accrued and unpaid interest immediately due and payable. In addition, after the occurrence of any Event of Default that results in the eventual acceleration of any Convertible Notes, such Convertible Notes bear an additional rate of interest equal to 1.0% per annum. Embedded Derivatives on the Convertible Debt: The Company determined that the conversion feature meets the definition of a derivative liability. The Company separated the derivative liability from the host debt instrument based on the fair value of the derivative liability. In accordance with authoritative guidance on accounting for derivatives and hedging, the Company has bifurcated these embedded derivatives and estimated the fair value of the embedded derivative liability based on a third-party valuation. The resulting discount created by allocating a portion of the issuance proceeds to the embedded derivative is then amortized to interest expense over the term of the debt using the effective interest method. Changes to the fair value of these embedded derivatives are reflected quarterly in the Company’s consolidated statements of operations as “Change in fair value of derivatives embedded within convertible debt.” The value of the embedded derivatives is contingent on changes in interest rates, the Company’s stock price, stock price volatility, and the Company’s dividend yield over the term of the debt. A summary of non-cash interest expense associated with the amortization of the debt discount created by the embedded derivative liability associated with the Company’s convertible debt is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Convertible Notes $ 487 $ — $ 487 $ — Interest expense associated with embedded derivatives $ 487 $ — $ 487 $ — A summary of non-cash changes in fair value of derivatives embedded within convertible debt is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Convertible Notes $ 20,166 $ — $ 20,166 $ — Loss on changes in fair value of derivatives embedded within convertible debt $ 20,166 $ — $ 20,166 $ — Fair V alues of Notes Payable and Other Obligations: The estimated fair value of the Company’s notes payable has been determined by the Company using available market information and appropriate valuation methodologies including the evaluation of the Company’s credit risk as described in Note 1. However, considerable judgment is required to develop the estimates of fair value and, accordingly, the estimate presented herein is not necessarily indicative of the amount that could be realized in a current market exchange. The estimated fair value of the Company’s notes payable is as follows: September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair Notes payable $ 32,068 $ 32,068 $ — $ — Notes payable and other obligations $ 32,068 $ 32,068 $ — $ — Notes payable is recorded on the condensed combined consolidated balance sheets at amortized cost. The determinations of fair values disclosed above would be classified as Level 3 under the fair value hierarchy disclosed in Note 10 if such liabilities were recorded on the condensed combined consolidated balance sheets at fair value.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES The Company is involved in litigation through the normal course of its business. The majority of claims are covered by the Company’s insurance policies in excess of any applicable retention. Other claims may not be covered by the Company’s insurance policies. The Company believes that the resolution of ordinary course matters will not have a material adverse effect on the financial position, results of operations or cash flows of the Company. In October 2023, individual plaintiffs filed an action on behalf of a putative national class of home sellers from October 2019 through the present in the Western District of Missouri against the National Association of Realtors (“NAR”) and certain real estate brokerage firms, including the Company, alleging anticompetitive behavior in violation of federal antitrust laws arising from the NAR’s requirement that sellers’ agents for Multiple Listing Service (“MLS”) listed properties offer to pay a portion of commissions received on the sale of such properties to buyers’ agents (the Gibson case). Thereafter, additional litigation was filed by other plaintiffs on behalf of putative classes of home sellers from 2019 to the present against certain real estate brokerage firms, including the Company and/or its subsidiaries, alleging anticompetitive behavior, similar to the Gibson case: (i) the March case (November 2023 – Southern District of New York) -- a putative class action on behalf of home sellers in Manhattan from November 2019 through the present; (ii) the Friedman case – (January 2024 – Southern District of New York) -- a putative class action on behalf of home sellers in certain parts of Brooklyn from January 2020 through present; (iii) the Umpa case (December 2023 -- Western District of Missouri – putative class action on behalf of home sellers nationwide (with certain markets excluded) from December 2019 through present, which has now been consolidated into the Gibson case; and (iv) the Whaley case (January 2024 District of Nevada) -- putative class action on behalf of home sellers in Nevada from January 2020 through the present. In November 2023, additional individual plaintiffs filed an action on behalf of a putative national class of home buyers from 1996 to the present in the Northern District of Illinois against certain real estate brokerage firms, including the Company, alleging anticompetitive behavior similar to the Gibson case, (the Batton case). In June 2024, plaintiffs voluntarily dismissed this action without prejudice. Thereafter, on June 11, 2024, plaintiffs’ counsel from the Batton case added the Company to a previously filed action on behalf of a putative national class of home buyers in the Southern District of Florida (the Lutz case). The allegations and claims in the Lutz case are similar to the Batton case. In April 2024, the Company entered into a settlement agreement (the “Settlement Agreement”) to resolve, on a nationwide basis, the Gibson and Umpa cases (the “Lawsuits”). On April 30, 2024, the Court in the now-consolidated Gibson case (which includes the Umpa case) preliminarily approved the settlement, preliminarily certified the proposed settlement class and stayed the case as against the Company pending final approval of the Settlement Agreement. After preliminary approval, the Company obtained stays of the remaining actions against it, other than the Lutz case. The final approval hearing for the settlement took place on October 31,2024, and on November 4, 2024, the Settlement Agreement received final court approval and became effective as of that date. The settlement resolves all claims on a nationwide basis by the plaintiffs and proposed settlement class members in the Lawsuits, which includes, but is not limited to, all claims concerning brokerage commissions by the proposed settlement class members that were asserted in other lawsuits against the Company and its subsidiaries (collectively, the “Claims”), and releases the Company, its subsidiaries, and affiliated agents from all Claims. The settlement is not an admission of liability, nor does the Company concede or validate any of the claims asserted against it. Under the Settlement Agreement, the Company paid into an escrow fund $7,750 on June 12, 2024, and agreed to pay two $5,000 contingent payments subject to certain financial contingencies on or before December 31, 2027 (collectively, the “Settlement Amount”). The contingent payments may be accelerated under certain circumstances. The Company recognized an expens e of $17,750 for the nine months ended September 30, 2024. In addition, the Company agreed to make certain changes to its business practices and emphasize certain practices that have been a part of Douglas Elliman’s longstanding policies and practices, including: reminding its brokerages and agents that the Company has no rule requiring agents to make or accept offers of compensation; requiring its brokerages and agents to clearly disclose to clients that commissions are not set by law and are fully negotiable; prohibiting its brokerages and buyer agents from claiming buyer agent services are free; requiring its brokerages and agents to disclose to the buyer the listing broker’s offer of compensation for prospective buyers’ agents as soon as possible; prohibiting its brokerages and agents from using any technology (or manual methods) to sort listings by offers of compensation, unless requested by the client; reminding its brokerages and agents of their obligation to show properties regardless of compensation for buyers’ agents for properties that meet the buyer’s priorities; and developing training materials for its brokerages and agents that support all the practice changes outlined in the injunctive relief. Two real estate salespersons formerly associated with the Company as independent contractors, have, together or separately, been named as defendants in multiple complaints by women accusing them of sexual assault and related wrongdoing. While the Company is not named as a defendant in these lawsuits, the salespersons’ former association with the Company has been reported in various publications. The Company is aware of the potential for litigation against the Company and certain of its current and former executives based on such alleged sexual assault and related wrongdoing, including claims that the Company and those executives are liable or indirectly liable for such wrongdoing. The Company and its executives deny all liability. Litigation is subject to uncertainty and it is possible that there could be adverse developments in pending cases or that more cases, including antitrust lawsuits, could be commenced. With the commencement of any new case, the defense costs and the risks relating to the unpredictability of litigation increase. Management reviews on a quarterly basis with counsel all pending litigation and evaluates the probability of a loss being incurred and whether an estimate can be made of the possible loss or range of loss that could result from an unfavorable outcome. An unfavorable outcome or settlement of pending litigation could encourage the commencement of additional litigation. The Company is unable to reasonably estimate the financial impact of these litigations. The Company’s consolidated financial position, results of operations or cash flows could be materially adversely affected from an unfavorable outcome in, or settlement of, any of these matters. Accounting Policy . The Company and its subsidiaries record provisions in their consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of loss can be reasonably estimated. At the present time, while it is reasonably possible that an unfavorable outcome in a case may occur, other than with respect to the Lawsuits: (i) management has concluded that it is not probable that a loss has been incurred in any of pending cases; or (ii) management is unable to reasonably estimate the possible loss or range of loss that could result from an unfavorable outcome of any pending cases and, therefore, management has not provided any amounts in the condensed consolidated financial statements for unfavorable outcomes, if any.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES ASC 740, Income Taxes , requires the Company to establish a valuation allowance to reduce the deferred tax assets reported if, based on the weight of available evidence, it is more likely than not that some portion or all the deferred tax assets will not be realized. If such determination is made and future losses are incurred over the period in which the net deferred tax assets are deductible, the Company believes it will be more likely than not that the benefits of these deductible differences will not be realized, and as a result will be required to maintain a valuation allowance for the full amount of the deferred tax assets. During the nine months ending September 30, 2024, the Company analyzed the likelihood of utilizing its deferred tax assets and determined it will be more likely than not that the benefits of these deductible differences will not be realized, and as a result established a valuation allowance for the full amount of the deferred tax assets. The Company’s income tax (benefit) expense and valuation allowance consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Loss before provision for income taxes $ (27,449) $ (6,999) $ (69,546) $ (36,700) Income tax benefit (6,560) (1,631) (16,622) (8,552) Changes in effective tax rates — (238) — — Current period valuation allowance 6,560 — 17,013 — Change in prior year valuation allowance — — 977 — Income tax (benefit) expense $ — $ (1,869) $ 1,368 $ (8,552)

INVESTMENTS AND FAIR VALUE MEAS

INVESTMENTS AND FAIR VALUE MEASUREMENTS	9 Months Ended
INVESTMENTS AND FAIR VALUE MEASUREMENTS	Sep. 30, 2024
Fair Value Disclosures [Abstract]
INVESTMENTS AND FAIR VALUE MEASUREMENTS	INVESTMENTS AND FAIR VALUE MEASUREMENTS The Company’s financial assets and liabilities subject to fair value measurements were as follows: Fair Value Measurements as of September 30, 2024 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Gains (Losses) Assets: Money market funds (1) $ 95,250 $ 95,250 $ — $ — U.S. treasury bills (2) 42,453 42,453 — — Certificates of deposit (3) 507 — 507 — PropTech convertible trading debt securities 1,162 — — 1,162 Long-term investments Long-term investment securities at fair value (4) 3,094 — — — Total assets $ 142,466 $ 137,703 $ 507 $ 1,162 Liabilities: Fair value of derivatives embedded within convertible debt $ 35,441 $ — $ — $ 35,441 $ (20,166) Nonrecurring fair value measurements Long-term investments (5) $ — $ — $ (489) $ — $ — $ (489) _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets, except for $3,364 that is included in current restricted cash and cash equivalents and $2,483 that is included in non-current restricted assets within Other assets. (2) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets. (3) Amounts included in Other assets on the condensed consolidated balance sheets. (4) In accordance with ASC Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. (5) Long-term investments with a carrying amount of $489 were written down to their fair value of $0, resulting in an impairment charge of $489, which was included in earnings. Fair Value Measurements as of December 31, 2023 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Money market funds (1) $ 59,595 $ 59,595 $ — $ — U.S. treasury bills (2) 51,200 51,200 — — Certificates of deposit (3) 507 — 507 — Long-term investments PropTech convertible trading debt securities 1,162 — — 1,162 Long-term investment securities at fair value (4) 2,821 — — — Total long-term investments 3,983 — — 1,162 Total assets $ 115,285 $ 110,795 $ 507 $ 1,162 _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets, except for $7,171 that is included in current restricted assets and $2,538 that is included in non-current restricted assets within Other assets. (2) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets. (3) Amounts included in Other assets on the condensed consolidated balance sheets. (4) In accordance with ASC Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. The fair value of the Level 2 certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is the rate offered by the financial institution. The fair values of the Level 3 PropTech convertible trading debt securities were derived using a discounted cash flow model utilizing a probability-weighted expected return method based on the probabilities of different potential outcomes for the convertible trading debt securities. The long-term investments are based on NAV per share provided by the partnerships based on the indicated market value of the underlying assets or investment portfolio. In accordance with ASC Subtopic 820-10, these investments are not classified under the fair value hierarchy disclosed above because they are measured at fair value using the NAV practical expedient. The fair value of derivatives embedded within the convertible debt and the fair value of the convertible debt itself was derived using a binomial lattice valuation model. These derivatives have been classified as Level 3. Changes in the fair value of the derivatives embedded with the convertible debt are presented in the consolidated statements of operations. The value of the embedded derivatives is contingent on changes in interest rates, the Company’s stock price, stock price volatility, and the Company’s dividend yield. The Company’s stock price, volatility, and dividend yield are based on market observable inputs. The interest rate component of the value of the note is computed by calibrating the yield as of the issuance date, such that the value of the convertible note is equal to the Principal less the Original Issue Discount. This yield is adjusted by the change in spreads from the discount curve equivalent to the Company’s implied credit rating. The changes in the fair value of these Level 3 liabilities as of September 30, 2024 were as follows: 2024 Balance as of January 1 $ — Issuance (15,275) Change in fair value of derivatives embedded within convertible debt (20,166) Balance as of September 30 $ (35,441) The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows as of September 30, 2024: Quantitative Information about Level 3 Fair Value Measurements Fair Value at September 30, Valuation Unobservable Range PropTech convertible trading debt securities $ 1,162 Discounted cash flow Interest rate 5% Maturity Feb 2025 Volatility 40.25% Discount rate 30.37% Fair value of derivatives embedded within convertible debt $ 35,441 Binomial Lattice Model Assumed annual stock dividend —% Assumed annual cash dividend —% Stock price $1.83 Volatility 50% Risk-free rate 3.51% Implied credit spread 8.63% The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows as of December 31, 2023: Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Range PropTech convertible trading debt securities $ 1,162 Discounted cash flow Interest rate 5% Maturity Feb 2025 Volatility 40.25% Discount rate 30.37% In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record assets and liabilities at fair value on a nonrecurring basis. Generally, assets and liabilities are recorded at fair value on a nonrecurring basis because of impairment charges. The Company had no nonrecurring nonfinancial assets subject to fair value measurements as of September 30, 2024 and December 31, 2023, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company’s business segments are Real Estate Brokerage and Corporate and Other. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Financial information for the Company’s operations before taxes and non-controlling interests for the three and nine months ended September 30, 2024 and 2023 were as follows: Real Estate Brokerage Corporate and Other Total Three months ended September 30, 2024 Revenues $ 266,316 $ — $ 266,316 Operating income (loss) 454 (1) (7,885) (7,431) Adjusted EBITDA attributed to Douglas Elliman (3) 3,810 (5,256) (1,446) Depreciation and amortization 1,898 — 1,898 Three months ended September 30, 2023 Revenues $ 251,548 $ — $ 251,548 Operating loss (1,992) (2) (6,829) (8,821) Adjusted EBITDA attributed to Douglas Elliman (3) 1,535 (4,562) (3,027) Depreciation and amortization 1,999 — 1,999 Nine months ended September 30, 2024 Revenues $ 752,306 $ — $ 752,306 Operating loss (31,885) (4) (20,683) (52,568) Adjusted EBITDA attributed to Douglas Elliman (3) (3,756) (13,577) (17,333) Depreciation and amortization 5,808 — 5,808 Capital expenditures 4,273 — 4,273 Nine months ended September 30, 2023 Revenues $ 741,442 $ — $ 741,442 Operating loss (20,349) (5) (20,577) (40,926) Adjusted EBITDA attributed to Douglas Elliman (3) (8,968) (14,266) (23,234) Depreciation and amortization 6,031 — 6,031 Capital expenditures 5,380 — 5,380 _____________________________ (1) Operating income includes $18 of restructuring expense. (2) Operating loss includes $215 of restructuring expense. (3) The following table reconciles operating loss to Adjusted EBITDA attributed to Douglas Elliman for the three and nine months ended September 30, 2024 and 2023. (4) Operating loss includes $17,750 of litigation settlement and $616 of restructuring expense. (5) Operating loss includes $1,932 of restructuring expense. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Real estate brokerage segment Operating income ( loss) $ 454 $ (1,992) $ (31,885) $ (20,349) Depreciation and amortization 1,898 1,999 5,808 6,031 Stock-based compensation 1,258 1,175 3,611 3,355 Litigation settlement — — 17,750 — Restructuring 18 215 616 1,932 Adjusted EBITDA 3,628 1,397 (4,100) (9,031) Adjusted EBITDA attributed to non-controlling interest 182 138 344 63 Adjusted EBITDA attributed to Douglas Elliman $ 3,810 $ 1,535 $ (3,756) $ (8,968) Corporate and other segment Operating loss $ (7,885) $ (6,829) $ (20,683) $ (20,577) Stock-based compensation 2,629 2,267 7,106 6,311 Adjusted EBITDA attributed to Douglas Elliman $ (5,256) $ (4,562) $ (13,577) $ (14,266)

ESCROW FUNDS IN HOLDING

ESCROW FUNDS IN HOLDING	9 Months Ended
ESCROW FUNDS IN HOLDING	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
ESCROW FUNDS IN HOLDING	ESCROW FUNDS IN HOLDING As a service to its customers, Portfolio Escrow Inc., a subsidiary of the Company, administers escrow and trust deposits which represent undisbursed amounts received for the settlement of real estate transactions. Deposits at FDIC-insured institutions are insured up to $250. Portfolio Escrow Inc. had escrow funds on deposit in the amount of $36,061 and $41,338 as of September 30, 2024 and December 31, 2023, respectively, and corresponding escrow funds in holding of the same amount. While these deposits are not assets of the Company (and, therefore, are excluded from the accompanying condensed consolidated balance sheets), the subsidiary of the Company remains contingently liable for the disposition of these deposits.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net loss attributed to Douglas Elliman Inc.	$ (27,180)	$ (4,866)	$ (70,319)	$ (27,709)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation : Douglas Elliman Inc. (“Douglas Elliman” or the “Company”) i s engaged in the real estate services and property technology investment business and is seeking to acquire or invest in additional real estate services and property technology, or PropTech, companies. The condensed consolidated financial statements of Douglas Elliman include the accounts of DER Holdings LLC and New Valley Ventures LLC (“New Valley Ventures”), directly and indirectly wholly owned subsidiaries of the Company, respectively. DER Holdings LLC owns Douglas Elliman Realty, LLC and Douglas Elliman of California, Inc., which are engaged in the residential real estate brokerage business with their subsidiaries. The operations of New Valley Ventures consist of minority investments in innovative PropTech companies. Certain references to “Douglas Elliman Realty” refer to the Company’s residential real estate brokerage business, including the operations of Douglas Elliman Realty, LLC and Douglas Elliman of California Inc., unless otherwise specified. The unaudited, interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and, in management’s opinion, contain all adjustments, consisting only of normal recurring items, necessary for a fair statement of the results for the periods presented. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. References to U.S. GAAP issued by the Financial Accounting Standards Board (“FASB”) are to the FASB Accounting Standards Codification, also referred to as the “Codification” or “ASC.” These condensed consolidated financial statements should be read in conjunction with the combined consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”) filed with the Securities and Exchange Commission (“SEC”). The condensed consolidated results of operations for interim periods should not be regarded as necessarily indicative of the results that may be expected for the entire year. In presenting the condensed consolidated financial statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. (b) Principles of Consolidation : The condensed consolidated financial statements include the assets, liabilities, revenues, expenses and cash flows of DER Holdings LLC and New Valley Ventures as well as all other entities in which Douglas Elliman has a controlling financial interest. All intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. When evaluating an entity for consolidation, Douglas Elliman first determines whether an entity is within the scope of the guidance for consolidation of variable interest entities (“VIE”) and if it is deemed to be a VIE. If the entity is considered to be a VIE, Douglas Elliman determines whether it would be considered the entity’s primary beneficiary. Douglas Elliman consolidates those VIEs for which it has determined that it is the primary beneficiary. Douglas Elliman will consolidate an entity that is not deemed a VIE upon a determination that it has a controlling financial interest. For entities where Douglas Elliman does not have a controlling financial interest, the investments in such entities are classified as available-for-sale securities or accounted for using the equity or cost method, as appropriate.
Estimates and Assumptions	Estimates and Assumptions : The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant estimates subject to material changes in the near term include impairment charges and valuation of intangible assets. Actual results could differ from those estimates.
Loss Per Share (“EPS”)	Loss Per Share (“EPS”) : The
Reconciliation of Cash, Cash Equivalents and Restricted Cash	Reconciliation of Cash, Cash Equivalents and Restricted Cash :
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill and intangible assets with indefinite lives are not amortized, but instead are tested for impairment on an annual basis, as of October 1, or whenever events or changes in business circumstances indicate the carrying value of the assets may not be recoverable. The Company follows ASC 350, Intangibles – Goodwill and Other , and subsequent updates including ASU 2011-08, Testing Goodwill for Impairment and ASU 2017-14, Simplifying the Test for Goodwill Impairment . The amendments permit entities to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company concludes that it is more likely than not that a reporting unit’s fair value is less than its carrying value or chooses to bypass the optional qualitative assessment, the Company then assesses recoverability by comparing the fair value of the reporting unit to its carrying amount; otherwise, no further impairment test would be required. The fair value of the intangible asset associated with the Douglas Elliman trademark is determined using a “relief from royalty payments” method. This approach involves two steps: (i) estimating reasonable royalty rates for its trademark associated with the Douglas Elliman trademark and (ii) applying these royalty rates to a net sales stream and discounting the resulting cash flows to determine fair value. This fair value is then compared with the carrying value of the trademark. In the three months ended September 30, 2024, the Company utilized third-party valuation specialists to prepare a quantitative assessment of its goodwill and trademark intangible assets, based on the current market conditions in the residential real estate brokerage industry which did not result in impairment charges related to its goodwill or trademark as of September 30, 2024. If the Company fails to achieve the financial projections used in the quantitative assessments of fair value and current market conditions continue to deteriorate, impairment charges could result in future periods, and such impairment charges could be material.
Restructuring	Restructuring :
Other Comprehensive Income	Other Comprehensive Income : The Company does not have any activity that results in Other Comprehensive Income; therefore, no statement of Comprehensive Income is included in the condensed consolidated financial statements.
Subsequent Events	Subsequent Events : On October 17, 2024, the Company delivered notices of termination to terminate, effective as of November 16, 2024, the Aircraft Lease Agreements. On October 21, 2024, the Company’s Chairman of the Board of Directors, President and Chief Executive Officer, notified the Company’s Board of his resignation as Chairman of the Board, President and Chief Executive Officer, effective immediately. In connection with his cessation of employment with the Company, the Company cancelled 2,965,625 unvested shares of common stock subject to vesting pursuant to the Issuer’s 2021 Management Incentive Plan. On October 25, 2024, the President and Chief Executive Officer of the Company’s subsidiary, Douglas Elliman Realty LLC, was terminated effective immediately. On October 30, 2024, the Company and James D. Ballard, Senior Vice President - Enterprise Efficiency and Chief Technology Officer, mutually agreed to terminate Mr. Ballard’s employment, effective immediately. Mr. Ballard will be entitled to (i) receive cash payment in an amount equal to $835; (ii) acceleration of all unvested equity and option grants; and (iii) participation in a COBRA plan for 18 months.
New Accounting Pronouncements	New Accounting Pronouncements : ASUs to be adopted in future periods : In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures. The ASU requires that all public entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. The ASU requires that all public entities improve the reportable segment disclosure primarily through enhanced disclosures about significant segment expenses. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. (m) SEC Rule Changes : On March 6, 2024, the SEC passed rule changes that will require registrants to provide certain climate-related information in their registration statements and annual reports. The rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. On April 4, 2024, the SEC voluntarily stayed the rules pending the resolution of certain legal challenges. The Company is currently evaluating the impact of the rule changes.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Net Loss for Purposes of Determining Basic and Diluted EPS	Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net loss attributed to Douglas Elliman Inc. $ (27,180) $ (4,866) $ (70,319) $ (27,709) Income attributable to participating securities — — — (307) Net loss available to common stockholders attributed to Douglas Elliman Inc. $ (27,180) $ (4,866) $ (70,319) $ (28,016)
Schedule of Basic and Diluted EPS Calculation Shares	Basic and diluted EPS were calculated using the following shares of common stock for the periods presented below: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Weighted-average shares for basic and diluted EPS 83,532,069 82,199,757 83,401,374 82,196,583
Antidilutive Securities Excluded from Earnings Per Share	The following was outstanding during the three and nine months ended September 30, 2024 and 2023, but were not included in the computation of diluted EPS because the effect was anti-dilutive: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Weighted-average number of shares issuable upon conversion of debt 33,333,333 — 33,333,333 — Weighted-average conversion price $ 1.50 $ — $ 1.50 $ —
Schedule of Components of Cash, Cash Equivalents and Restricted Cash	The components of “Cash, cash equivalents and restricted cash” in the condensed consolidated statements of cash flows were as follows: September 30, December 31, Cash and cash equivalents $ 151,416 $ 119,808 Restricted cash and cash equivalents included in current assets 3,364 7,171 Restricted cash and cash equivalents included in other assets 2,483 2,538 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 157,263 $ 129,517
Schedule of Investment (Loss) Gains	Investment (loss) gains consist of the following: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net gains recognized on PropTech convertible trading debt securities $ — $ — $ — $ 187 Net unrealized gains (losses) recognized on long-term investments at fair value (22) 27 106 (78) Net gains recognized on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient 18 — 519 — Investment (loss) gains $ (4) $ 27 $ 625 $ 109
Schedule of Restructuring and Related Costs	The following table presents the changes in the employee severance and benefits liability under the Real Estate Brokerage segment restructuring plan for the nine months ended September 30, 2024: Employee Severance and Benefits Severance liability balance at January 1, 2024 $ 767 Severance expense 616 Severance payments (1,066) Severance liability at September 30, 2024 $ 317

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
REVENUE RECOGNITION (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	In the following tables, revenue is disaggregated by major services line and primary geographical market: Three Months Ended September 30, 2024 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 77,936 $ 53,281 $ 54,030 $ 44,270 $ 229,517 Commission and other brokerage income - development marketing 7,332 120 16,359 746 24,557 Property management revenue 8,773 187 — — 8,960 Escrow and title fees 19 9 — 3,254 3,282 Total revenue $ 94,060 $ 53,597 $ 70,389 $ 48,270 $ 266,316 Three Months Ended September 30, 2023 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 70,997 $ 52,138 $ 57,261 $ 45,010 $ 225,406 Commission and other brokerage income - development marketing 7,453 50 5,616 730 13,849 Property management revenue 8,509 188 — — 8,697 Escrow and title fees 258 158 — 3,180 3,596 Total revenue $ 87,217 $ 52,534 $ 62,877 $ 48,920 $ 251,548 Nine Months Ended September 30, 2024 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 205,962 $ 138,487 $ 189,742 $ 138,208 $ 672,399 Commission and other brokerage income - development marketing 18,253 341 21,281 2,378 42,253 Property management revenue 27,127 574 — — 27,701 Escrow and title fees 440 266 19 9,228 9,953 Total revenue $ 251,782 $ 139,668 $ 211,042 $ 149,814 $ 752,306 Nine Months Ended September 30, 2023 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 211,243 $ 134,191 $ 178,604 $ 133,004 $ 657,042 Commission and other brokerage income - development marketing 22,116 911 21,893 1,818 46,738 Property management revenue 26,284 565 — — 26,849 Escrow and title fees 1,183 595 — 9,035 10,813 Total revenue $ 260,826 $ 136,262 $ 200,497 $ 143,857 $ 741,442
Schedule of Contract Balances	The following table provides information about contract assets and contract liabilities from development marketing and commercial leasing contracts with customers: September 30, December 31, 2023 Receivables, which are included in receivables $ 1,722 $ 1,846 Contract assets, net, which are included in other current assets 9,079 6,030 Contract assets, net, which are in other assets 35,317 36,040 Payables, which are included in commissions payable 1,228 1,357 Contract liabilities, which are in current liabilities 15,132 11,234 Contract liabilities, which are in other liabilities 59,380 51,178

CURRENT EXPECTED CREDIT LOSSES

CURRENT EXPECTED CREDIT LOSSES (Tables)	9 Months Ended
CURRENT EXPECTED CREDIT LOSSES (Tables)	Sep. 30, 2024
Credit Loss [Abstract]
Schedule of Rollforward of Allowance for Credit Losses	The following table summarizes changes in the allowance for credit losses for the nine months ended September 30, 2024: January 1, Current Period Provision Write-offs Recoveries September 30, Allowance for credit losses: Real estate broker agent receivables $ 5,575 $ 4,138 (1) $ 4,482 $ — $ 5,231 _____________________________ (1) The current period provision for the real estate broker agent receivables is included in “General and administrative expenses” in the Company’s condensed consolidated statements of operations. The following table summarizes changes in the allowance for credit losses for the nine months ended September 30, 2023: January 1, Current Period Provision Write-offs Recoveries September 30, Allowance for credit losses: Real estate broker agent receivables $ 10,916 $ 3,645 (1) $ 1,895 $ — $ 12,666 _____________________________ (1) The current period provision for the real estate broker agent receivables is included in “General and administrative expenses” in the Company’s condensed consolidated statements of operations.

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease Expense and Supplemental Cash Flow Information	The components of lease expense, which were included in Sales and marketing expense on the condensed consolidated statements of operations, were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Operating lease cost $ 7,255 $ 8,539 $ 23,515 $ 25,184 Short-term lease cost 194 296 643 948 Variable lease cost 1,111 1,161 3,172 3,291 Less: Sublease income (30) (189) (117) (498) Total lease cost $ 8,530 $ 9,807 $ 27,213 $ 28,925 Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of lease liabilities : Operating cash flows from operating leases $ 24,874 $ 25,861 Right-of-use assets obtained in exchange for lease obligations : Operating leases 7,579 10,881
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term : Operating leases 5.95 6.38 Weighted average discount rate : Operating leases 8.63 % 8.63 %
Schedule of Maturities of Operating Lease Liabilities	As of September 30, 2024, maturities of lease liabilities were as follows: Operating Leases Period Ending December 31: Remainder of 2024 $ 7,980 2025 30,154 2026 27,408 2027 24,162 2028 21,233 2029 17,100 Thereafter 31,070 Total lease payments 159,107 Less imputed interest (36,743) Total $ 122,364

LONG-TERM INVESTMENTS (Tables)

LONG-TERM INVESTMENTS (Tables)	9 Months Ended
LONG-TERM INVESTMENTS (Tables)	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Long-term Investment Securities	Long-term investments consisted of the following: September 30, December 31, 2023 PropTech convertible trading debt securities $ 1,162 $ 1,162 Long-term investment securities at fair value (1) 3,094 2,821 PropTech investments at cost 8,150 8,888 PropTech investments under equity method 631 570 Total investments 13,037 13,441 Less PropTech current convertible trading debt securities (2) 1,162 — Less PropTech investments accounted for under the equity method (3) 631 570 Total long-term investments $ 11,244 $ 12,871 _____________________________ (1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820. (2) These amounts are included in “Other current assets” on the condensed consolidated balance sheets. (3) These amounts are included in “Equity-method investments” on the condensed consolidated balance sheets. Net realized and unrealized (losses) gains recognized on long-term investment securities were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net realized gains recognized on PropTech convertible trading debt securities $ — $ — $ — $ 187 Net unrealized (losses) gains recognized on long-term investments at fair value (22) 27 106 (78) Net gains recognized on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient 18 — 519 — Net realized and unrealized (losses) gains recognized on long-term investment securities $ (4) $ 27 $ 625 $ 109
Schedule of Unrealized Gains (Losses)	The following is a summary of unrealized (losses) gains recognized in net loss on long-term investment securities at fair value during the three and nine months ended September 30, 2024 and 2023, respectively: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net unrealized (losses) gains recognized on long-term investment at fair value $ (22) $ 27 $ 106 $ (78)

EQUITY METHOD INVESTMENTS (Tabl

EQUITY METHOD INVESTMENTS (Tables)	9 Months Ended
EQUITY METHOD INVESTMENTS (Tables)	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Equity method investments consisted of the following: September 30, 2024 December 31, 2023 Ancillary services ventures $ 2,031 $ 1,960

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	9 Months Ended
NOTES PAYABLE (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable consisted of the following: September 30, December 31, 2023 Convertible Notes, net of unamortized discount of $17,932 and $0 $ 32,068 $ — Aggregate carrying value $ 32,068 $ — * The fair value of the derivatives embedded within the 7.0% Convertible Note ($35,441 at September 30, 2024 and $0 at December 31, 2023 respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets.
Schedule of Debt Interest Expense	A summary of non-cash interest expense associated with the amortization of the debt discount created by the embedded derivative liability associated with the Company’s convertible debt is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Convertible Notes $ 487 $ — $ 487 $ — Interest expense associated with embedded derivatives $ 487 $ — $ 487 $ — A summary of non-cash changes in fair value of derivatives embedded within convertible debt is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Convertible Notes $ 20,166 $ — $ 20,166 $ — Loss on changes in fair value of derivatives embedded within convertible debt $ 20,166 $ — $ 20,166 $ —
Schedule of Fair Value of Notes Payable	The estimated fair value of the Company’s notes payable is as follows: September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair Notes payable $ 32,068 $ 32,068 $ — $ — Notes payable and other obligations $ 32,068 $ 32,068 $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
INCOME TAXES (Tables)	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Benefit	The Company’s income tax (benefit) expense and valuation allowance consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Loss before provision for income taxes $ (27,449) $ (6,999) $ (69,546) $ (36,700) Income tax benefit (6,560) (1,631) (16,622) (8,552) Changes in effective tax rates — (238) — — Current period valuation allowance 6,560 — 17,013 — Change in prior year valuation allowance — — 977 — Income tax (benefit) expense $ — $ (1,869) $ 1,368 $ (8,552)

INVESTMENTS AND FAIR VALUE ME_2

INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Subject to Fair Value Measurements	The Company’s financial assets and liabilities subject to fair value measurements were as follows: Fair Value Measurements as of September 30, 2024 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Gains (Losses) Assets: Money market funds (1) $ 95,250 $ 95,250 $ — $ — U.S. treasury bills (2) 42,453 42,453 — — Certificates of deposit (3) 507 — 507 — PropTech convertible trading debt securities 1,162 — — 1,162 Long-term investments Long-term investment securities at fair value (4) 3,094 — — — Total assets $ 142,466 $ 137,703 $ 507 $ 1,162 Liabilities: Fair value of derivatives embedded within convertible debt $ 35,441 $ — $ — $ 35,441 $ (20,166) Nonrecurring fair value measurements Long-term investments (5) $ — $ — $ (489) $ — $ — $ (489) _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets, except for $3,364 that is included in current restricted cash and cash equivalents and $2,483 that is included in non-current restricted assets within Other assets. (2) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets. (3) Amounts included in Other assets on the condensed consolidated balance sheets. (4) In accordance with ASC Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. (5) Long-term investments with a carrying amount of $489 were written down to their fair value of $0, resulting in an impairment charge of $489, which was included in earnings. Fair Value Measurements as of December 31, 2023 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Money market funds (1) $ 59,595 $ 59,595 $ — $ — U.S. treasury bills (2) 51,200 51,200 — — Certificates of deposit (3) 507 — 507 — Long-term investments PropTech convertible trading debt securities 1,162 — — 1,162 Long-term investment securities at fair value (4) 2,821 — — — Total long-term investments 3,983 — — 1,162 Total assets $ 115,285 $ 110,795 $ 507 $ 1,162 _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets, except for $7,171 that is included in current restricted assets and $2,538 that is included in non-current restricted assets within Other assets. (2) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets. (3) Amounts included in Other assets on the condensed consolidated balance sheets. (4) In accordance with ASC Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.
Schedule of Changes in the Fair Value of Level 3 Investments	The changes in the fair value of these Level 3 liabilities as of September 30, 2024 were as follows: 2024 Balance as of January 1 $ — Issuance (15,275) Change in fair value of derivatives embedded within convertible debt (20,166) Balance as of September 30 $ (35,441)
Schedule of Unobservable Inputs Related to the Valuations of the Level 3 Liabilities	The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows as of September 30, 2024: Quantitative Information about Level 3 Fair Value Measurements Fair Value at September 30, Valuation Unobservable Range PropTech convertible trading debt securities $ 1,162 Discounted cash flow Interest rate 5% Maturity Feb 2025 Volatility 40.25% Discount rate 30.37% Fair value of derivatives embedded within convertible debt $ 35,441 Binomial Lattice Model Assumed annual stock dividend —% Assumed annual cash dividend —% Stock price $1.83 Volatility 50% Risk-free rate 3.51% Implied credit spread 8.63% The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows as of December 31, 2023: Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Range PropTech convertible trading debt securities $ 1,162 Discounted cash flow Interest rate 5% Maturity Feb 2025 Volatility 40.25% Discount rate 30.37%

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
SEGMENT INFORMATION (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Information for the Company's Operations Before Taxes	Financial information for the Company’s operations before taxes and non-controlling interests for the three and nine months ended September 30, 2024 and 2023 were as follows: Real Estate Brokerage Corporate and Other Total Three months ended September 30, 2024 Revenues $ 266,316 $ — $ 266,316 Operating income (loss) 454 (1) (7,885) (7,431) Adjusted EBITDA attributed to Douglas Elliman (3) 3,810 (5,256) (1,446) Depreciation and amortization 1,898 — 1,898 Three months ended September 30, 2023 Revenues $ 251,548 $ — $ 251,548 Operating loss (1,992) (2) (6,829) (8,821) Adjusted EBITDA attributed to Douglas Elliman (3) 1,535 (4,562) (3,027) Depreciation and amortization 1,999 — 1,999 Nine months ended September 30, 2024 Revenues $ 752,306 $ — $ 752,306 Operating loss (31,885) (4) (20,683) (52,568) Adjusted EBITDA attributed to Douglas Elliman (3) (3,756) (13,577) (17,333) Depreciation and amortization 5,808 — 5,808 Capital expenditures 4,273 — 4,273 Nine months ended September 30, 2023 Revenues $ 741,442 $ — $ 741,442 Operating loss (20,349) (5) (20,577) (40,926) Adjusted EBITDA attributed to Douglas Elliman (3) (8,968) (14,266) (23,234) Depreciation and amortization 6,031 — 6,031 Capital expenditures 5,380 — 5,380 _____________________________ (1) Operating income includes $18 of restructuring expense. (2) Operating loss includes $215 of restructuring expense. (3) The following table reconciles operating loss to Adjusted EBITDA attributed to Douglas Elliman for the three and nine months ended September 30, 2024 and 2023. (4) Operating loss includes $17,750 of litigation settlement and $616 of restructuring expense. (5) Operating loss includes $1,932 of restructuring expense. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Real estate brokerage segment Operating income ( loss) $ 454 $ (1,992) $ (31,885) $ (20,349) Depreciation and amortization 1,898 1,999 5,808 6,031 Stock-based compensation 1,258 1,175 3,611 3,355 Litigation settlement — — 17,750 — Restructuring 18 215 616 1,932 Adjusted EBITDA 3,628 1,397 (4,100) (9,031) Adjusted EBITDA attributed to non-controlling interest 182 138 344 63 Adjusted EBITDA attributed to Douglas Elliman $ 3,810 $ 1,535 $ (3,756) $ (8,968) Corporate and other segment Operating loss $ (7,885) $ (6,829) $ (20,683) $ (20,577) Stock-based compensation 2,629 2,267 7,106 6,311 Adjusted EBITDA attributed to Douglas Elliman $ (5,256) $ (4,562) $ (13,577) $ (14,266)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loss Per Share (“EPS”) (Details)	Jun. 30, 2023
Accounting Policies [Abstract]
Common stock dividend percentage	5%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Income for Purposes of Determining Basic and Diluted EPS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Net loss attributed to Douglas Elliman Inc.	$ (27,180)	$ (4,866)	$ (70,319)	$ (27,709)
Income attributable to participating securities, basic	0	0	0	(307)
Income attributable to participating securities, diluted	0	0	0	(307)
Net loss available to common stockholders attributed to Douglas Elliman Inc. - basic	(27,180)	(4,866)	(70,319)	(28,016)
Net loss available to common stockholders attributed to Douglas Elliman Inc. - diluted	$ (27,180)	$ (4,866)	$ (70,319)	$ (28,016)

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basic and Diluted Earnings Per Share (in shares) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Weighted-average shares for basic EPS (in shares)	83,532,069	82,199,757	83,401,374	82,196,583
Weighted-average shares for diluted EPS (in shares)	83,532,069	82,199,757	83,401,374	82,196,583

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Antidilutive Securities Excluded from Earnings Per Share (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Weighted-average number of shares (in shares)	33,333,333	0	33,333,333	0
Weighted-average conversion price (in USD per share)	$ 1.50	$ 0	$ 1.50	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 151,416	$ 119,808
Restricted cash and cash equivalents included in current assets	3,364	7,171
Restricted cash and cash equivalents included in other assets	2,483	2,538
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 157,263	$ 129,517	$ 133,889	$ 171,382

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Real estate agent commissions
Summary of Significant Accounting Policies [Line Items]
Real estate commissions	$ 199,133	$ 185,845	$ 564,606	$ 546,749
Transition Services Agreement \| Vector Group Ltd.
Summary of Significant Accounting Policies [Line Items]
Transaction amount	1,050	1,050	3,150	3,150
Aviation Agreements \| Vector Group Ltd.
Summary of Significant Accounting Policies [Line Items]
Transaction amount	235	452	1,830	1,748
Sole Broker Or Co-broker \| Vector Group Ltd. \| Real estate agent commissions
Summary of Significant Accounting Policies [Line Items]
Real estate commissions	$ 308	$ 104	$ 2,325	$ 946

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Investment (Loss) Gains (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Net gains recognized on PropTech convertible trading debt securities	$ 0	$ 0	$ 0	$ 187
Net unrealized gains (losses) recognized on long-term investments at fair value	(22)	27	106	(78)
Net gains recognized on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient	18	0	519	0
Investment (loss) gains	$ (4)	$ 27	$ 625	$ 109

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Severance expense	$ 18	$ 215	$ 616	$ 1,932
Real Estate Brokerage \| Severance
Restructuring Reserve [Roll Forward]
Severance liability beginning balance			767
Severance expense			616
Severance payments			(1,066)
Severance liability ending balance	$ 317		$ 317

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Subsequent Events (Details) - Subsequent Event - USD ($) $ in Thousands	Oct. 30, 2024	Oct. 21, 2024
Chairman of the Board of Directors, President and Chief Executive Officer
Subsequent Event [Line Items]
Shares cancelled (in shares)		2,965,625
Senior Vice President - Enterprise Efficiency and Chief Technology Officer \| Douglas Elliman Realty, LLC
Subsequent Event [Line Items]
Cash payment	$ 835

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 266,316	$ 251,548	$ 752,306	$ 741,442
New York City
Disaggregation of Revenue [Line Items]
Total revenue	94,060	87,217	251,782	260,826
Northeast
Disaggregation of Revenue [Line Items]
Total revenue	53,597	52,534	139,668	136,262
Southeast
Disaggregation of Revenue [Line Items]
Total revenue	70,389	62,877	211,042	200,497
West
Disaggregation of Revenue [Line Items]
Total revenue	48,270	48,920	149,814	143,857
Commission and other brokerage income - existing home sales
Disaggregation of Revenue [Line Items]
Total revenue	229,517	225,406	672,399	657,042
Commission and other brokerage income - existing home sales \| New York City
Disaggregation of Revenue [Line Items]
Total revenue	77,936	70,997	205,962	211,243
Commission and other brokerage income - existing home sales \| Northeast
Disaggregation of Revenue [Line Items]
Total revenue	53,281	52,138	138,487	134,191
Commission and other brokerage income - existing home sales \| Southeast
Disaggregation of Revenue [Line Items]
Total revenue	54,030	57,261	189,742	178,604
Commission and other brokerage income - existing home sales \| West
Disaggregation of Revenue [Line Items]
Total revenue	44,270	45,010	138,208	133,004
Commission and other brokerage income - development marketing
Disaggregation of Revenue [Line Items]
Total revenue	24,557	13,849	42,253	46,738
Commission and other brokerage income - development marketing \| New York City
Disaggregation of Revenue [Line Items]
Total revenue	7,332	7,453	18,253	22,116
Commission and other brokerage income - development marketing \| Northeast
Disaggregation of Revenue [Line Items]
Total revenue	120	50	341	911
Commission and other brokerage income - development marketing \| Southeast
Disaggregation of Revenue [Line Items]
Total revenue	16,359	5,616	21,281	21,893
Commission and other brokerage income - development marketing \| West
Disaggregation of Revenue [Line Items]
Total revenue	746	730	2,378	1,818
Property management revenue
Disaggregation of Revenue [Line Items]
Total revenue	8,960	8,697	27,701	26,849
Property management revenue \| New York City
Disaggregation of Revenue [Line Items]
Total revenue	8,773	8,509	27,127	26,284
Property management revenue \| Northeast
Disaggregation of Revenue [Line Items]
Total revenue	187	188	574	565
Property management revenue \| Southeast
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Property management revenue \| West
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Escrow and title fees
Disaggregation of Revenue [Line Items]
Total revenue	3,282	3,596	9,953	10,813
Escrow and title fees \| New York City
Disaggregation of Revenue [Line Items]
Total revenue	19	258	440	1,183
Escrow and title fees \| Northeast
Disaggregation of Revenue [Line Items]
Total revenue	9	158	266	595
Escrow and title fees \| Southeast
Disaggregation of Revenue [Line Items]
Total revenue	0	0	19	0
Escrow and title fees \| West
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,254	$ 3,180	$ 9,228	$ 9,035

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets, net, which are in other assets	$ 35,317	$ 36,040
Contract liabilities	15,132	11,234
Contract liabilities, which are in other liabilities	59,380	51,178
Receivables, which are included in receivables
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Current assets	1,722	1,846
Contract assets, net, which are included in other current assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Current assets	9,079	6,030
Other Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets, net, which are in other assets	35,317	36,040
Payables, which are included in commissions payable
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities	1,228	1,357
Contract liabilities, which are in current liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities	15,132	11,234
Other Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities, which are in other liabilities	$ 59,380	$ 51,178

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue recognized on contract liabilities	$ 8,293	$ 8,681	$ 12,508	$ 20,043
Consulting, administration and net commissions)
Disaggregation of Revenue [Line Items]
Revenue recognized on contract liabilities	$ 4,311	$ 7,688	$ 7,299	$ 14,085

CURRENT EXPECTED CREDIT LOSSE_2

CURRENT EXPECTED CREDIT LOSSES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Real estate broker agent receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Estimated credit losses	$ 5,231	$ 5,575	$ 12,666	$ 10,916

CURRENT EXPECTED CREDIT LOSSE_3

CURRENT EXPECTED CREDIT LOSSES - Rollforward (Details) - Real estate broker agent receivables - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,575	$ 10,916
Current Period Provision	4,138	3,645
Write-offs	4,482	1,895
Recoveries	0	0
Ending balance	$ 5,231	$ 12,666

LEASES - Lease Expense and Cash

LEASES - Lease Expense and Cash Outflows from Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost	$ 7,255	$ 8,539	$ 23,515	$ 25,184
Short-term lease cost	194	296	643	948
Variable lease cost	1,111	1,161	3,172	3,291
Less: Sublease income	(30)	(189)	(117)	(498)
Total lease cost	$ 8,530	$ 9,807	27,213	28,925
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases			24,874	25,861
Right-of-use assets obtained in exchange for lease obligations:
Operating leases			$ 7,579	$ 10,881

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details)	Sep. 30, 2024	Dec. 31, 2023
Weighted average remaining lease term:
Operating leases	5 years 11 months 12 days	6 years 4 months 17 days
Weighted average discount rate:
Operating leases	8.63%	8.63%

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Operating Leases
Remainder of 2024	$ 7,980
2025	30,154
2026	27,408
2027	24,162
2028	21,233
2029	17,100
Thereafter	31,070
Total lease payments	159,107
Less imputed interest	(36,743)
Total	$ 122,364

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Undiscounted lease payments for leases that have not yet commenced	$ 686
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	1 year 2 months 12 days
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	5 years 4 months 24 days

LONG-TERM INVESTMENTS - Compone

LONG-TERM INVESTMENTS - Components of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
PropTech convertible trading debt securities	$ 1,162	$ 1,162
Long-term investment securities at fair value	3,094	2,821
PropTech investments at cost	8,150	8,888
PropTech investments under equity method	631	570
Total investments	13,037	13,441
Less PropTech current convertible trading debt securities	1,162	0
Less PropTech investments accounted for under the equity method	631	570
Total long-term investments	$ 11,244	$ 12,871

LONG-TERM INVESTMENTS - Summary

LONG-TERM INVESTMENTS - Summary of Net Realized and Unrealized Gains (losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net realized gains recognized on PropTech convertible trading debt securities	$ 0	$ 0	$ 0	$ 187
Net unrealized (losses) gains recognized on long-term investments at fair value	(22)	27	106	(78)
Net gains recognized on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient	18	0	519	0
Investment (loss) gains	$ (4)	$ 27	$ 625	$ 109

LONG-TERM INVESTMENTS - Schedul

LONG-TERM INVESTMENTS - Schedule of Unrealized and Realized Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net unrealized (losses) gains recognized on long-term investment at fair value	$ (22)	$ 27	$ 106	$ (78)

LONG-TERM INVESTMENTS - Narrati

LONG-TERM INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Unfunded commitments	$ 658
PropTech investments at cost	$ 8,150	$ 8,888

EQUITY METHOD INVESTMENTS - Sch

EQUITY METHOD INVESTMENTS - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Equity-method investments	$ 2,031	$ 1,960
Ancillary services ventures
Schedule of Equity Method Investments [Line Items]
Equity-method investments	$ 2,031	$ 1,960

EQUITY METHOD INVESTMENTS - Nar

EQUITY METHOD INVESTMENTS - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Schedule of Investments [Line Items]
Maximum exposure on guarantees	$ 2,031
Minimum \| Ancillary services ventures
Schedule of Investments [Line Items]
Equity-method ownership percentage	5.90%
Maximum \| Ancillary services ventures
Schedule of Investments [Line Items]
Equity-method ownership percentage	50%

NOTES PAYABLE - Schedule of Not

NOTES PAYABLE - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 02, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Fair value of derivatives embedded within convertible debt	$ 35,441		$ 0
Senior Secured Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Unamortized discount	17,932		0
Convertible Notes, net of unamortized discount of $17,932 and $0	32,068		0
Aggregate carrying value	32,068		0
Interest rate		7%
Fair value of derivatives embedded within convertible debt	$ 35,441		$ 0

NOTES PAYABLE - Narrative (Deta

NOTES PAYABLE - Narrative (Details)	Jul. 02, 2024 USD ($) d $ / shares	Sep. 30, 2024 $ / shares	Sep. 30, 2023 $ / shares
Debt Instrument [Line Items]
Convertible conversion price (in USD per share) \| $ / shares		$ 1.50	$ 0
Senior Secured Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt issued \| $	$ 50,000,000
Interest rate	7%
Paid-in-kind interest	8%
Convertible conversion price (in USD per share) \| $ / shares	$ 1.50
Beneficial ownership limitation	4.99%
Notice period	61 days
Premium percentage of conversion price per share	19%
Estimated beneficial ownership		27%
Redemption percentage	33.30%
Adjusted EBITDA two consecutive quarter trigger \| $	$ 0
Liquidity \| $	20,000,000
Adjusted EBITDA \| $	$ 0
Interest rate in event of default	1%
Senior Secured Convertible Notes \| Convertible Debt \| On or after July 2, 2027
Debt Instrument [Line Items]
Percentage of stock price	200%
Trading days	20
Consecutive trading days	30
Senior Secured Convertible Notes \| Convertible Debt \| On or after January 2, 2028
Debt Instrument [Line Items]
Percentage of stock price	225%
Trading days	20
Consecutive trading days	30
Senior Secured Convertible Notes \| Convertible Debt \| On or after July 2, 2028
Debt Instrument [Line Items]
Percentage of stock price	250%
Trading days	20
Consecutive trading days	30
Senior Secured Convertible Notes \| Convertible Debt \| Maximum
Debt Instrument [Line Items]
Beneficial ownership limitation	24.99%

NOTES PAYABLE - Non-Cash Intere

NOTES PAYABLE - Non-Cash Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Loss on changes in fair value of derivatives embedded within convertible debt	$ (20,166)	$ 0	$ (20,166)	$ 0
Derivatives embedded within convertible debt
Debt Instrument [Line Items]
Non-cash interest expense	487	0	487	0
Loss on changes in fair value of derivatives embedded within convertible debt	20,166	0	20,166	0
Senior Secured Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Non-cash interest expense	487	0	487	0
Loss on changes in fair value of derivatives embedded within convertible debt	$ 20,166	$ 0	$ 20,166	$ 0

NOTES PAYABLE - Fair Value of N

NOTES PAYABLE - Fair Value of Notes Payable and Long Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 32,068	$ 0
Notes payable and other obligations	32,068	0
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	32,068	0
Notes payable and other obligations	$ 32,068	$ 0

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Thousands		9 Months Ended
CONTINGENCIES (Details) $ in Thousands	Apr. 30, 2024 USD ($) payment	Sep. 30, 2024 USD ($) defendant
Independent Contractors Formerly Associated With Douglas Elliman Inc.
Loss Contingencies [Line Items]
Number of defendants \| defendant		2
Gibson and Umpa
Loss Contingencies [Line Items]
Settlement award	$ 7,750
Number of contingent payments \| payment	2
Contingent payments	$ 5,000
Recognized expense		$ 17,750

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Loss before provision for income taxes	$ (27,449)	$ (6,999)	$ (69,546)	$ (36,700)
Income tax benefit	(6,560)	(1,631)	(16,622)	(8,552)
Changes in effective tax rates	0	(238)	0	0
Current period valuation allowance	6,560	0	17,013	0
Change in prior year valuation allowance	0	0	977	0
Income Tax Expense (Benefit), Total	$ 0	$ (1,869)	$ 1,368	$ (8,552)

INVESTMENTS AND FAIR VALUE ME_3

INVESTMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities Subject to Fair Value Measurements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Assets:
PropTech convertible trading debt securities	$ 1,162,000		$ 1,162,000		$ 1,162,000
Long-term investments
Long-term investment securities at fair value	3,094,000		3,094,000		2,821,000
Total long-term investments	4,256,000		4,256,000		3,983,000
Fair value of derivatives embedded within convertible debt	35,441,000		35,441,000		0
Loss on changes in fair value of derivatives embedded within convertible debt	(20,166,000)	$ 0	(20,166,000)	$ 0
Long-term investments with a carrying amount	11,244,000		11,244,000		12,871,000
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money Market Funds
Long-term investments
Current restricted assets	3,364,000		3,364,000		7,171,000
Non-current restricted assets	2,483,000		2,483,000		2,538,000
Recurring
Assets:
PropTech convertible trading debt securities	1,162,000		1,162,000
Long-term investments
PropTech convertible trading debt securities					1,162,000
Long-term investment securities at fair value	3,094,000		3,094,000		2,821,000
Total long-term investments					3,983,000
Total assets	142,466,000		142,466,000		115,285,000
Fair value of derivatives embedded within convertible debt	35,441,000		35,441,000
Loss on changes in fair value of derivatives embedded within convertible debt			(20,166,000)
Recurring \| Money Market Funds
Assets:
Cash and cash equivalents	95,250,000		95,250,000		59,595,000
Recurring \| U.S. treasury bills
Assets:
Cash and cash equivalents	42,453,000		42,453,000		51,200,000
Recurring \| Certificates of Deposit
Assets:
Cash and cash equivalents	507,000		507,000		507,000
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
PropTech convertible trading debt securities	0		0
Long-term investments
PropTech convertible trading debt securities					0
Long-term investment securities at fair value	0		0		0
Total long-term investments					0
Total assets	137,703,000		137,703,000		110,795,000
Fair value of derivatives embedded within convertible debt	0		0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money Market Funds
Assets:
Cash and cash equivalents	95,250,000		95,250,000		59,595,000
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. treasury bills
Assets:
Cash and cash equivalents	42,453,000		42,453,000		51,200,000
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Certificates of Deposit
Assets:
Cash and cash equivalents	0		0		0
Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
PropTech convertible trading debt securities	0		0
Long-term investments
PropTech convertible trading debt securities					0
Long-term investment securities at fair value	0		0		0
Total long-term investments					0
Total assets	507,000		507,000		507,000
Fair value of derivatives embedded within convertible debt	0		0
Recurring \| Significant Other Observable Inputs (Level 2) \| Money Market Funds
Assets:
Cash and cash equivalents	0		0		0
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. treasury bills
Assets:
Cash and cash equivalents	0		0		0
Recurring \| Significant Other Observable Inputs (Level 2) \| Certificates of Deposit
Assets:
Cash and cash equivalents	507,000		507,000		507,000
Recurring \| Significant Unobservable Inputs (Level 3)
Assets:
PropTech convertible trading debt securities	1,162,000		1,162,000
Long-term investments
PropTech convertible trading debt securities					1,162,000
Long-term investment securities at fair value	0		0		0
Total long-term investments					1,162,000
Total assets	1,162,000		1,162,000		1,162,000
Fair value of derivatives embedded within convertible debt	35,441,000		35,441,000
Recurring \| Significant Unobservable Inputs (Level 3) \| Money Market Funds
Assets:
Cash and cash equivalents	0		0		0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. treasury bills
Assets:
Cash and cash equivalents	0		0		0
Recurring \| Significant Unobservable Inputs (Level 3) \| Certificates of Deposit
Assets:
Cash and cash equivalents	0		0		$ 0
Nonrecurring
Long-term investments
Total long-term investments	0		0
Total assets	0		0
Impairment		$ 0	(489,000)	$ 0
Long-term investments with a carrying amount	489,000		489,000
Nonrecurring \| Significant Unobservable Inputs (Level 3)
Long-term investments
Total long-term investments	0		0
Total assets	$ 0		$ 0

INVESTMENTS AND FAIR VALUE ME_4

INVESTMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Changes in the Fair Value of Level 3 Investments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of January 1	$ 0
Issuance	(15,275)
Change in fair value of derivatives embedded within convertible debt	(20,166)
Balance as of September 30	$ 35,441

INVESTMENTS AND FAIR VALUE ME_5

INVESTMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Unobservable Inputs Related to the Valuations of the Level 3 Liabilities (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
PropTech convertible trading debt securities	$ 1,162	$ 1,162
Fair value of derivatives embedded within convertible debt	35,441	0
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
PropTech convertible trading debt securities	1,162
Fair value of derivatives embedded within convertible debt	35,441
Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
PropTech convertible trading debt securities	1,162
Fair value of derivatives embedded within convertible debt	$ 35,441
Recurring \| Significant Unobservable Inputs (Level 3) \| Binomial Lattice Model \| Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded within convertible debt input	0.50
Recurring \| Significant Unobservable Inputs (Level 3) \| Binomial Lattice Model \| Assumed annual stock dividend
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded within convertible debt input	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Binomial Lattice Model \| Assumed annual cash dividend
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded within convertible debt input	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Binomial Lattice Model \| Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded within convertible debt input	1.83
Recurring \| Significant Unobservable Inputs (Level 3) \| Binomial Lattice Model \| Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded within convertible debt input	0.0351
Recurring \| Significant Unobservable Inputs (Level 3) \| Binomial Lattice Model \| Implied credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives embedded within convertible debt input	0.0863
Recurring \| Significant Unobservable Inputs (Level 3) \| Convertible Trading Debt Securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
PropTech convertible trading debt securities	$ 1,162	$ 1,162
Recurring \| Significant Unobservable Inputs (Level 3) \| Convertible Trading Debt Securities \| Discounted cash flow \| Interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.05	0.05
Recurring \| Significant Unobservable Inputs (Level 3) \| Convertible Trading Debt Securities \| Discounted cash flow \| Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.4025	0.4025
Recurring \| Significant Unobservable Inputs (Level 3) \| Convertible Trading Debt Securities \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.3037	0.3037

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 266,316	$ 251,548	$ 752,306	$ 741,442
Operating income (loss)	(7,431)	(8,821)	(52,568)	(40,926)
Depreciation and amortization	1,898	1,999	5,808	6,031
Capital expenditures			4,273	5,380
Litigation settlement	0	0	17,750	0
Restructuring	18	215	616	1,932
Adjusted EBITDA attributed to Douglas Elliman	(1,446)	(3,027)	(17,333)	(23,234)
Real Estate Brokerage \| Real Estate Brokerage
Segment Reporting Information [Line Items]
Revenues	266,316	251,548	752,306	741,442
Operating income (loss)	454	(1,992)	(31,885)	(20,349)
Depreciation and amortization	1,898	1,999	5,808	6,031
Capital expenditures			4,273	5,380
Stock-based compensation	1,258	1,175	3,611	3,355
Litigation settlement	0	0	17,750	0
Restructuring	18	215	616	1,932
Adjusted EBITDA	3,628	1,397	(4,100)	(9,031)
Adjusted EBITDA attributed to non-controlling interest	182	138	344	63
Adjusted EBITDA attributed to Douglas Elliman	3,810	1,535	(3,756)	(8,968)
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating income (loss)	(7,885)	(6,829)	(20,683)	(20,577)
Depreciation and amortization	0	0	0	0
Capital expenditures			0	0
Stock-based compensation	2,629	2,267	7,106	6,311
Adjusted EBITDA attributed to Douglas Elliman	$ (5,256)	$ (4,562)	$ (13,577)	$ (14,266)

ESCROW FUNDS IN HOLDING (Detail

ESCROW FUNDS IN HOLDING (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Security posted for appeal of judgment	$ 36,061	$ 41,338