As close as never before! Our junior expansion manager Annika Osche explores New York City and takes us to the US real estate market every Wednesday the next few weeks. Be part of her expereriences when she lets us know about her highlights in Big Apple. Today it’s all about relationships!
“As a part of the expansion team in Hamburg I also take care of the expansion in countries in which Engel & Völkers is not well known yet, including some countries in Europe, Middle East and Africa. A few years ago, awareness of our brand in the North American markets was very low or non-existent, which was one of various reasons for me to go to Manhattan. I wanted to get to know the US process, tasks and the field of expansion, get an insight of the US real estate market, data research and the Head Office in New York City.
The US market is different from the Canadian market and both are totally different compared to the German market. So there is the possibility to use different tools and strategies which could be effective for new markets elsewhere. Apart from understanding the structure and tools of the expansion strategy I got to know how data research becomes the basis for a successful expansion in the US.
Aside from gaining experience, my objective was to find out which parts of their strategy made sense to implement or adapt in other markets.
In brief, the US and Canadian markets are mainly about relationships and people as well as about data or a brilliant knowledge of the market. Brand awareness is a main focus in areas where no one knows E&V yet and therefore the US team works closely together to increase awareness and an create an image that competes against all other franchisors.
Summing up, I think that every market is different and you do not only need knowledge about the market itself but also about its culture. If you want to be successful, you have to be successful locally and I received an insight into different ideas and tools which helps to achieve that.
Apart from the real estate market I gained many other interesting experiences. If you like to join me on my tour through Manhattan to get to know the most expensive homes for sale, like to get some inside tips and trends, you are more than welcome to have a look in here next Wednesday.
See you next week and all the best”