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Dottie Herman, CEO - Prudential Douglas Elliman Real Estate (New York)

Dorothy Herman, Dottie, is the quintessential New York success story. In only two decades, she climbed to the pinnacle of the housing industry – CEO of Prudential Douglas Elliman (www.prudentialelliman.com), the #4 ranked real estate company in the United States.

Today, under her leadership, Prudential Douglas Elliman is the top ranked residential brokerage in the nationwide network of Prudential Real Estate Affiliates, with over 3,800 real estate professionals and 675 employees working in more than 60 offices in Manhattan, Brooklyn, Queens, Long Island, the Hamptons and the North Fork.

Dottie created a company that serves the customer’s every real estate need. In addition to leading New York’s largest residential real estate brokerage and rentals, she also controls a portfolio of real estate services, including commercial and retail leasing and sales, relocation and settling in services, new development consulting and also Manhattan’s largest residential property manager, Douglas Elliman Property Management, as well as PDE Title, and DE Capital Mortgage.

Dottie began her career on Long Island, and purchased Prudential Long Island Realty in 1989. After turning the company into the powerhouse brokerage operating on Long Island and in the Hamptons, she purchased Douglas Elliman, Manhattan’s largest and most prestigious brokerage firm, with her partner Howard Lorber in 2003. Since then, Prudential Douglas Elliman has become the largest and fastest-growing real estate firm in New York, stretching from Manhattan to Montauk.

In recognition of her leadership in the industry, Dottie was named one of the 100 Most Influential Women in New York for 2007 by Crain’s New York Business. She was honored by Adelphi University as the 2007 Outstanding Executive on Long Island and was invited to participate in the Festival of Thinkers held in Dubai and Abu Dhabi in 2007. Dottie took a leadership role in this year’s Cutting Through the Red Tape: Building Long Island Today and is a long time supporter of the American Heart Association, the Tilles Center for the Performing Arts, the Southampton Hospital, and the North Shore Long Island Jewish Hospital.

Dottie is also an honored contributor to The Sunrise Fund at Stony Brook University Medical Center, a program established to raise awareness and funds for pediatric oncology programs. In the summer of 2008, Dottie was honored at the 12th Annual Heart of the Hamptons Gala, receiving the Distinguished Community Leadership Award for her continual support and contributions.

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Q & A with Dottie Herman

Q & A with Dottie Herman

Dottie Herman Q1 - My son is currently renting in NYC. Assuming he has money for a co-op purchase or a condo purchase, which is advisable? He is looking at co-ops in the neighborhood he wants to live in. We... Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - I was thinking of closing credit cards and someone told me that can negatively impact my credit. Is that true? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - The bank sold my mortgage loan to another financial institution without my permission. Can it do this? A - Yes. Federal banking laws and regulations permit financial institutions to sell mortgages, and/or transfer the servicing rights, to other institutions. Consumer consent is not required Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - Which is better - A piggyback, or a traditional loan with MI? A - Either method has both advantages and drawbacks. For example, MI may be cancelable after a fairly short period of time through no effort on your part, ... Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - What Is APR for Mortgage Loans? A - "APR" stands for annual percentage rate. The APR is a much better indicator (than just the interest rate) of the actual cost of a mortgage loan, as it estimates what you'll pay over the course of an entire year. Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - What is a reverse mortgage? A - A reverse mortgage is a special home loan product that allows a homeowner aged 62 or older the ability to access the equity that has accumulated in their home. Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - What are discount points ? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Dottie Herman Q1 - What do I need to take with me when I apply for a mortgage? A - If you have everything with you when you visit your lender, you'll save a good deal of time. You should... Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - How much money will I have to come up with to buy a home? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - What is a condop? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - How long will it take to process my loan application? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - I have heard some stories where people lost their rate because their loan approval took a very long time. What might delay approval of my loan? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - I currently have a mortgage rate of 5% percent and I was wondering - is it feasible for me to refinance it? Or is that rate pretty good? I'm hearing mixed things. Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Dottie Herman Q1 - I have been renting for the last 5 years, is now a good time to purchase in NYC?A - With interest rates at the lowest they have been in forty years, now is a good time... Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - I am a self-employed business owner. What income documents do I need to show an Underwriter? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Dottie Herman Q1 - I have heard that you can refinance at no cost, is that true?A - There are always costs associated with any mortgage, including mortgage refinancing.  The lender may waive their costs (ie:  application, processing and underwriting... Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - My home is currently on the market; however, I haven't had many offers. Can I try to refinance while my house is listed for sale? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Dottie Herman Q1 - My taxes increased and I am now having trouble paying my mortgage as the payments were difficult to begin with. What can I do? I don't want to default on my mortgage, and I can pay... Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Q1 - Do you need to have an inspection of a NYC apartment before purchase the same way you do to a house? Read More

 
Q & A with Dottie Herman

Q & A with Dottie Herman

Dottie Herman Q1 - I want to put my home for sale; however, people have said that now is not a good time since people purchase before the school year. Is that always true? I assume there are buyers all... Read More

 
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