Peter Hernandez Joins Brokerage Platform Side
The real estate veteran makes the move to Side following his departure from executive duties at Douglas Elliman.
Updated on Oct. 16, 2026 in Remote Work
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Former Douglas Elliman executive Peter Hernandez has moved his broker license to the brokerage platform Side. This follows a period of significant leadership restructuring at his former firm.
Why it matters
Douglas Elliman is currently undergoing a reorganization of its leadership structure that involves moving away from its previous regional management model.
When Douglas Elliman acquired Teles Properties in 2017 for a reported $15 million to $20 million, the firm added 600 agents and 20 offices to its roster. Peter Hernandez had originally founded Teles Properties in 2007.
The players
Peter Hernandez
He is a prominent real estate figure who previously founded Teles Properties and held an executive position at Douglas Elliman.
Side
This is a brokerage platform that supports independent agents by managing operational tasks such as compliance and marketing.
Douglas Elliman
It is a major real estate brokerage firm that is currently undergoing a significant shift in its internal organizational leadership model.
Richard Ferrari
He formerly served as the head of the New York City market for Douglas Elliman before leaving the company in August 2026.
Todd Bourgard
He served as the chief executive of regional operations for Douglas Elliman until stepping down in October 2026.
The details
Side, which launched in San Francisco in 2017, provides the operational backend for agents to establish their own brokerage brands. The platform acts as the broker of record to handle administrative duties, compliance, and marketing.
Timeline
Peter Hernandez founded Teles Properties in 2007.
Side launched and Douglas Elliman acquired Teles Properties in 2017.
Richard Ferrari left his role as head of New York City for Douglas Elliman in August 2026.
Peter Hernandez departed Douglas Elliman in September 2026.
Todd Bourgard stepped down as chief executive of Douglas Elliman regions in October 2026.
Market Landscape
The abandonment of the Douglas Elliman regional leadership model signals a broader move toward a more centralized corporate organizational structure. This shift places the firm in a new competitive position as it adjusts to changing industry operational standards.
Agents and clients associated with these firms may notice shifts in how brokerage services are managed and delivered as the transition takes effect. These changes in leadership and platform affiliation reflect a broader evolution in the administrative support provided to real estate professionals.
The takeaway
The real estate sector is seeing a transition where platforms like Side take over administrative burdens from traditional brokerage leadership models. This shift allows high-performing agents to focus on client-facing activities while relying on centralized operational support.
Further reading
For more information on how platforms are changing the industry, visit the Remote Work section.
Source note: This article includes information reported by The Real Deal New York.
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