Engel & Völkers
The Engel & Völkers AG is a franchising company in the sale of residential and commercial real estate and yachts.
In 1977, the company Engel & Cie was founded and renamed in 1987 in Engel & Völkers. The brand " Engel & Völkers " is represented in 38 countries on five continents. The corporate headquarters is located in Hamburg, now headquartered in New York City and Hong Kong. The company has been operating since 1999 as Engel & Völkers AG, after the collapse of the Neuer Markt, however, the share placement was still not done and moved on indefinitely. The Engel & Völkers Residential GmbH is certified since 2008 Full Member of the German Franchise Association (DFV ). In May 2013 was Kai Enders, board member of the Engel & Völkers AG, elected to the board of the DFV.
Business Model
Engel & Völkers is a franchise company that licenses for the sale of residential and commercial real estate and yachts under the brand name " Engel & Völkers " awards to independent entrepreneurs. Licences include a fixed region in which the licensee has, depending on the type of license operate real estate shop, a commercial real estate office or a yachting shop. the shops and offices are decorated design in the uniform corporate. Their range of services from Engel & Völkers includes consulting, leasing, sales and reviews about the transaction of real estate and yachts. The franchisee network of Engel & Völkers are currently working around 4,700 employees.
The network of Engel & Völkers now consists of over 520 residential property shops and 50 commercial offices. 2012 gave the Engel & Völkers Group - total property worth more than 6 billion euros. 2013, the group scored a brand brokerage revenues 272.9 million euros.
History
In 1977, Dirk C. Engel, the company Engel & Cie with the first office in the Hamburg Elbe suburbs. 1981 Christian Völkers partner and managing partner of Engel & Cie. After the death of Dirk Engel in 1986, the company Engel & Cie has been renamed to Engel & Völkers. In 1988, the Company established the house Global Guide Publishing. The publishing house publishes a quarterly real estate magazine Global Guide (GG ), which is produced in six languages. The IVW-audited paid circulation in the third quarter of 2013 at 70 193 copies and has a print run of 78,300 copies.
The first foreign Engel & Völkers office was opened in 1990 in Palma, Mallorca. In 1998, the franchise system was introduced. 1990 saw the founding of the Engel & Völkers AG. Since 2004, Engel & Völkers is expanding in the U.S., where the company currently has more than 30 residential property shops. In South America the brand in Argentina, Chile, Peru and Colombia is present. In South Africa, Engel & Völkers has more than 30 residential property shops.
In addition, the Engel & Völkers brand in the Arabian Peninsula, represented in Thailand and Hong Kong. 2010 followed by the first residential real estate shop in Australia.
Criticism
In 2000, Engel & Völkers Group took over the Blumenauer Holding in Frankfurt am Main, in the course of the subsequent bankruptcy of the Blumenauer Holding CEO Christian Völkers was sentenced on 29 January 2008 by the Landgericht Frankfurt am Main due to embezzlement, two other members the management each received a custodial sentence on probation.
An investor invested at the time of significant upswing of the property market in Dubai in the construction project " White Bay ", which had given him an employee of a sub- franchise partner of Engel & Völkers. As a result of the severe financial crisis in the fall of 2008 broke the entire market in Dubai. The failure of many banks in the upcoming financing meant that the project " White Bay " illiquid and eventually became insolvent.
In 2001 the house was " Global Guide Publisher " of the company Engel & Völkers with his magazine " Global Guide " deficit.
On 1 September 2003, the gem broker Sotheby's International Realty ended the distribution partnership with Engel & Völkers the differing opinions on marketing concept and business model.