Paris, 15 January 2024.
The international real estate company Engel & Völkers has onceagain generated an annual turnover in excess of the billion euro mark, despite the challenging market conditions in 2023. While Group commission revenues slightly declined to 1.1 billion euros (2022: 1.2 billion euros), the Group performed significantly better than the market as a whole. “This result demonstrates the resilience of our business model, even in challenging market conditions. We have succeeded in solidifying our position in the core markets,” says Jawed Barna, Group CEO of Engel & Völkers. “As one of the world’s leading property companies, Engel & Völkers proves to be in an excellent position to take full advantage of its potential. Thanks to our wealth of expertise in personal consulting and the use of digital technologies, we are leveraging key competitive advantages in the real estate market.”
Professional advice provides guidance in current market
Ever since interest rates started rising, the challenge in real estate brokerage has been to consolidate the price expectations of buyers and sellers. “Beyond bespoke service, prospective buyers are looking for customised financing solutions when planning their investment,” says Jawed Barna, adding: “Pivotal in the current market conditions, our clients benefit from tailored and extensive services for their mortgages through Engel & Völkers Finance.”
Through continuous investments in innovation, Engel & Völkers provides its advisors with numerous technological tools such as 360-degree property tours, drone videos and digital home staging – all designed to further improve the brokerage process for clients worldwide. With the launch of the new CRM system, the lead management tool and the new website with an optimised user journey in the past financial year, the company has achieved important milestones that will ensure the future success.
Outlook: Established business model and strong service platform to accelerate growth
Engel & Völkers is expecting an easing of the real estate market in the medium term. This will also be contributed to by the interest rate environment, which has recently stabilised noticeably. In the current market conditions, competence, experience and professional excellence are key
differentiating factors when strengthening customer loyalty and gaining further market share. The Group is committed to maintaining high-quality training for the advisors who are working under the global Engel & Völkers brand: “We offer an international network with a large property portfolio in the premium segment, a top-tier digital platform and attractive earning opportunities. With our strong market position we will continue to attract the best property experts, set forth our global course of expansion, and provide our discerning clients with bespoke service,” says Jawed Barna.