Douglas Elliman has appointed Chris Reyes as its new chief technology officer, the company announced on Tuesday. Reyes, who has a background in the brokerage industry, will oversee Elliman’s technology team and supervise product launches and software development.
Reyes previously worked at Brown Harris Stevens (BHS), where he served as chief information and product officer before becoming CTO in 2022. He has also held executive technology roles at Guardhill Financial, Town Residential, and Citi Habitats.
His arrival comes as many real estate firms are working to integrate artificial intelligence into their operations. Last month, Elliman introduced Elli AI, an assistant app that will first launch in Florida with plans for expansion to other markets.
“Everyone is talking about AI,” said Reyes. “Personally, my philosophy is simple. If tools don’t save time or drive revenue, they don’t belong in the stack.”
A spokesperson for BHS commented on Reyes’ departure: “[We wish] Chris the best in his next endeavor.”
Reyes replaces former CTO David Ballard, who was terminated last November during a leadership change at Elliman. CEO Michael Liebowitz explained that finding Ballard’s replacement involved a “rigorous hiring process” that reflects changes implemented under his leadership since taking over from Howard Lorber last year.
“While everyone wants to come out with a wham-bam magic Sam technology solution for the industry, we really wanted to find someone who knew the industry,” Liebowitz said. He added that Reyes would have a larger platform than he did in previous positions.
Liebowitz stated that the firm is relying on AI to streamline operations by reducing expenses and employee numbers. He described this approach as part of his strategy for 2026: “being about every single person being a revenue generator.” According to Liebowitz, “2025 was a transition year. 2026 is our growth year.”
Elliman reported its third-quarter earnings last week, showing a net loss of $25 million—an improvement over the $27 million loss from the same period last year. Revenue declined slightly from $266 million to $263 million compared to last year’s third quarter.
The company recently eliminated its debt after selling its property management division to Associa for $85 million. This sale enabled Elliman to pay off a $50 million loan it received from Kennedy Lewis in 2024.
