The success story of Engel & Völkers in Switzerland - an interview with Peter Frigo

Engel & Völkers Switzerland: Dear Peter, we would like to know more about the founder of Engel & Völkers in Switzerland. What did you do before and what motivated you to establish the Engel & Völkers brand in Switzerland?

Peter Frigo: Before I entered the Swiss real estate industry, I worked for around eleven years as managing director of a German company in the construction supply industry. The company had several hundred employees and a turnover in the three-digit million range. It belonged to a Swiss group of companies that commissioned me to sell a Swiss real estate portfolio from their pension fund. The proceeds from the sale were then to be reinvested in new properties.

At that time, more than 20 years ago, I already had my sights set on returning to Switzerland and becoming self-employed. So this was my big opportunity!

Previously, I had been less involved in sales than in the purchase of capital goods. As a result, I was used to sitting opposite salespeople and, of course, learning from them. This allowed me to form my own sales ideas.

I was successful in selling the real estate portfolio and as my employer gave me a large share of the sale price, I was able to finance my entry into the Swiss real estate business.

At the end of 1997, I saw a small advertisement in the Zuger Amtsblatt that a German entrepreneur was looking for a partnership in the real estate consulting business in Switzerland. We met and founded a joint company just one week later. Then things took off, a bit like buying an Engel & Völkers license.

We were soon working as real estate agents in Zug and Zurich in the residential and commercial business. My business partner then left our company when his German company was sold to Engel & Völkers.

I contacted Christian Völkers and suggested a collaboration in Switzerland. Christian Völkers quickly agreed and so we changed the company name to Engel & Völkers at the beginning of 2000 To Engel & Völkers at the beginning of 2000.

Expansion and growth

Engel & Völkers Switzerland: So at that time you were "only" Engel & Völkers license partners in Zurich and Zug. How did it come to the Foundation of a master license?

Peter Frigo: in 2003, the then Expansion Manager Sven Odia asked us whether we could also obtain the Master license for the residential sector for the whole of Switzerland for the whole of Switzerland. This was not an easy financial challenge for us to master. We therefore wanted to continue brokering properties ourselves in order to be able to raise the funds required to purchase, set up and manage the master license.

From 2004, we expanded the Zug and Zurich areas to include the regions of St. Moritz, Ascona, Ausserschwyz with Pfäffikon and Lucerne. Over time, our colleagues there developed the desire to manage these license areas independently. In this way, we were able to place the licenses for Zug, Zurich, Küsnacht, Rapperswil, St. Moritz and Ascona in other, well-known entrepreneurial hands at an early stage. We were very pleased about this, because with these new partners now operating independently as entrepreneurs, we were sure that we were in for good things for the further development of the Engel & Völkers brand in Switzerland.

As a result, Engel & Völkers' sales in Switzerland have developed positively every year to date, with the exception of one. in 2019, thanks to the creative energy and tireless commitment of all our partners, we reached the mark of 40 million Swiss francs in brokerage sales with residential real estate. The transaction volume of all properties sold amounted to more than 1.2 billion Swiss francs.

The franchise system

Engel & Völkers Switzerland: How can you take over an existing license? What requirements are necessary?

Peter Frigo: There are few free territories, but sometimes existing license partners want to stop. We support them in this and look for new investors. Our aim is to find suitable entrepreneurial personalities who want to set up their own business with our brand.

Engel & Völkers Switzerland: What requirements should a prospective licensee have?

Peter Frigo: Unbridled will and total commitment are important. Entrepreneurs see problems as challenges and look for solutions instead of complaining. The focus is on increasing turnover through employee motivation and customer satisfaction. Long-term thinking and empathy are crucial. All contacts should be treated as customers, with the focus on finding solutions.

Engel & Völkers Switzerland: Is it important that new license partners come from within the company?

Peter Frigo: Successful employees are very suitable as license partners, as they know the advantages of the system and want to move up. However, external applicants with management and sales experience also bring valuable skills. A mix of internal and external applicants is ideal.

Experienced insiders particularly appreciate our proven system, but newcomers with management experience can also use it successfully very quickly. Both groups are important partners for our growing franchise system.

The role of the master license

Engel & Völkers Switzerland: What are the advantages of an Engel & Völkers license?

Peter Frigo: It offers access to a worldwide network, comprehensive customer leads and a strong brand. We provide support through our own academy, corporate identity and a proven real estate brokerage system.

Engel & Völkers Switzerland: How does the master license support new partners?

Peter Frigo: We closely support new partners and organize events for exchange and customer introduction. Partners become part of a growing, global family of companies.

Engel & Völkers Switzerland: Are you satisfied with your decision to join Engel & Völkers?

Peter Frigo: Absolutely. I am happy about it every day and recommend it wholeheartedly. My children work in management positions at Engel & Völkers Switzerland, and even my granddaughter has completed internships.