Established in 1911, Douglas Elliman Actual Estate is the most important brokerage in the New York Metropolitan area and the second largest impartial residential real estate brokerage within the United States by sales quantity. For those not in nicely-versed in housing terminology, “REO” stands for “actual property owned” — a term used to explain foreclosed property that has been transferred back to a financial institution or lender after an unsuccessful auction.
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