Douglas Elliman announced today a companywide technology transformation aimed at consolidating systems, automating operations and developing new real estate intelligence capabilities through a newly formed business unit called Elius.

The New York-based real estate firm said the initiative will operate across two tracks; modernizing brokerage operations and creating a separate intelligence platform designed to develop new data-driven products and services.

The transformation will be powered by Google Cloud technology, including its artificial intelligence (AI) models and enterprise infrastructure.

Through AI-enabled automation and technology consolidation, Douglas Elliman expects to reduce non-commission operating expenses over the next three years while improving operational efficiency.

The second part of the initiative centers on Elius, which Douglas Elliman said will use the company’s proprietary luxury real estate data to develop intelligence tools beyond traditional property search and portal models.

Leaders said Elius will draw from transaction activity, market data and information generated by its agents and clients while maintaining protections around confidential client information.

“The next era of this business will be defined by intelligence,” said Michael Liebowitz, president and CEO of Douglas Elliman. “For generations, residential real estate has been organized around the transaction — and for just as long, the data that real estate transactions generate has been monetized by nearly everyone except the brokerages that create it. We are changing that model and taking it back.”

Douglas Elliman said Elius is expected to support several areas of the company, including brokerage operations, development marketing and international business.

Potential applications include workflow automation, market insights, lead generation and client matching, the company aded.

Douglas Elliman said it plans to fund the initial technology rollout and Elius development using existing resources.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.