Douglas Elliman is bringing on a new chief technology officer.
The firm has tapped Chris Reyes, a veteran in the brokerage industry, to head its technology team, where he’ll be tasked with managing the department as well as supervising product launches and software development, the company announced Tuesday.
Before joining Elliman, Reyes was an executive with Brown Harris Stevens, where he served first as chief information and product officer before taking over as CTO in 2022. He’s also held executive technology positions with Guardhill Financial, Town Residential and Citi Habitats.
Reyes is stepping into the role at a time when most of the industry is focused on integrating artificial intelligence. Last month, Elliman announced its own AI assistant app, called Elli AI, which it plans to debut in Florida before expanding its use to other markets.
“Everyone is talking about AI,” Reyes said. “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 said the firm “[wishes] Chris the best in his next endeavor.”
Reyes will replace Elliman’s former CTO, David Ballard, who was terminated from his post last November on the heels of a leadership shakeup at the firm.
CEO Michael Liebowitz — who took over the firm’s top role last year after longtime leader Howard Lorber abruptly retired — said he took his time finding the right person to replace Ballard, including putting him through a “rigorous hiring process” adopted by the company under Liebowitz’s tenure.
“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,” said Liebowitz. He added that the firm found that in Reyes, and the company will offer Reyes a larger platform than his previous roles.
Liebowitz said that the firm is betting on AI to help streamline the company’s operations, including lowering expenses and employee counts. He added that the efforts were part of his plan for 2026, the theme for which he described as “being about every single person being a revenue generator.”
“2025 was a transition year,” Liebowitz said. “2026 is our growth year.”
News of Elliman’s new executive comes a week after the firm reported its third-quarter earnings, including a $25 million net loss. The loss was less than the $27 million it lost in the same quarter last year. The firm also saw revenues decline modestly year-over-year, down from $266 million to $263 million.
However, Elliman did eliminate its debt last month after it sold its property management arm to Associa for $85 million. The deal allowed the company to pay off a $50 million loan it received from Kennedy Lewis last year.
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