Brokerage punished with $5M verdict in agent poaching case

Court finds that Douglas Elliman competitor William Raveis Real Estate 'schemed' to steal top producers
  • William Raveis Real Estate and a former Douglas Elliman branch manager have been ordered to pay millions in damages for recruiting Elliman agents while the branch manager was still employed by Elliman.

Competition for agents, especially top producers, is par for the course among real estate brokerages. But a jury has found that one prominent firm crossed the line — and is making the firm pay dearly for it.