Engel & Völkers franchise group with record results
The Hamburg-based Engel & Völkers Group has once again achieved record results. The franchise company has announced that its overall brokerage turnover from the Engel & Völkers brand increased by 30 percent to 160.7 million euros in 2007. This means, therefore, that in 2007 Engel & Völkers sold properties worth more than five billion euros.
The number of employees working within the franchise also grew from around 1,700 in 2006 to just under 2,600 last year. According to information provided by the company, the turnover of its foreign divisions selling residential properties expanded at the fastest rate, namely by over 41 percent. “The great extension of our licensee network abroad is really beginning to have an effect now,” explained Christian Völkers, company founder and board chairman. A total of 65 new shops selling residential property were set up abroad last year. For 2008, Engel & Völkers is planning to open up more than 100 new shops. At the end of 2007, the franchise network consisted of 301 locations in 23 countries and on four continents.
Engel & Völkers (USA)