Real Estate

Apelian Joins Douglas Elliman in Austin, Targets $800M Sales Expansion

Stephen Apelian joins Douglas Elliman in Texas, signaling a strategic expansion into one of the country's top real estate markets.

By Tal Alexander

4/3, 15:04 EDT
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Key Takeaway

  • Stephen Apelian, a luxury real estate agent with $800 million in sales, joins Douglas Elliman in Austin, expanding the Tracy Tutor Team.
  • Trammell Crow Company promotes Aaron Thielhorn as Houston market leader; Greystone and KAI make strategic hires in Texas real estate sector.
  • These moves signal a growing interest and investment in Texas' real estate market by prominent industry professionals.

A New Star in Texas Real Estate

Stephen Apelian, a high-profile luxury real estate agent with a rich background in Los Angeles' West Side, is making a significant move by expanding his business to Austin, Texas. Joining forces with Douglas Elliman's Tracy Tutor Team, Apelian brings nearly $800 million in sales and a wealth of experience in building and remodeling high-end properties. This strategic expansion is part of a broader trend of real estate professionals and firms eyeing the Texas market, recognizing its growing potential and appeal.

Texas: The New Frontier for Real Estate Giants

Douglas Elliman's decision to deepen its roots in Texas, with Apelian's move being a recent highlight, underscores the state's burgeoning real estate market. The Texas Triangle, encompassing Dallas-Fort Worth, Austin, and Houston, has been identified by the Urban Land Institute as one of the country's most robust real estate markets. With Dallas-Fort Worth and Austin ranking among the top real estate markets nationally, and Houston not far behind, it's clear why Douglas Elliman is focusing its efforts on expansion and recruitment in these areas.

Strategic Moves and Market Dynamics

The recruitment of Stephen Apelian is part of a larger narrative of growth and strategic positioning by Douglas Elliman in Texas. The firm's CEO of Brokerage for the Western Region, Stephen Kotler, recently relocated from Beverly Hills to Dallas, signaling a strong commitment to the Texas market. This move, coupled with the firm's impressive performance in Houston and Dallas-Fort Worth, as well as its plans for significant growth initiatives in Dallas, highlights the dynamic and promising nature of Texas' real estate landscape.

The Broader Implications of Texas' Real Estate Boom

The expansion of Douglas Elliman and the recruitment of top talent like Stephen Apelian to Texas reflect broader trends in the real estate industry. The state's strong economic fundamentals, combined with its appeal to a wide range of businesses and professionals, make it an attractive market for real estate investment and development. This trend is likely to continue, with Texas' major cities poised to benefit from increased attention and investment from national and international real estate firms.