Read our exclusive interview with Michael Kreimer, Sales Consultant in our E&V Shop in Port Andratx.
And, what is your role, Mr Kreimer?
I work in the Port Andratx office in the Residential Property Sales department together with six other colleagues. Part of my work involves advising potential buyers who are looking for a holiday home of a certain standard or a year-round property in south-west Mallorca. But I also look after the interests of owners who wish to sell their property through the Engel & Völkers world-wide network to achieve the most from the sale.
It’s an interesting undertaking, on the one hand, to show a buyer the ideal property, and on the other, to show him or her this dream location, which has something to suit all tastes given the variety it has to offer. Often, time is limited, because clients generally dedicate just a few days’ stay to the search. So, careful planning and a lot of communication are normally worthwhile in order to plan out the best feasible “property tour”. I greatly enjoy the time I spend with clients; especially when we finally find their “dream property”, which, of course, is often very different from the initial search criteria.
What sets Engel & Völkers apart in terms of real estate valuation?
In a market such as this it is not helpful to apply the classic methods of valuation; for example, the process of at-cost valuation which a realistic price is sought based on the theoretical cost of construction, with a reduction according to the age of the property cannot be used. In the current market this is, at best, somewhat removed from the practical reality. It’s important to remember that property prices in Mallorca are in most occasions set by emotional and location oriented factors that hold very little resemblance with the approach used in many European countries. Since Spain does not count with a central registry where prices in a specific location are available it is down to the experience and capability of the Agent and Team advising the owner.
Our big advantage: The E&V shop in Port Andratx has been located here for 15 years and several senior advisors individually provide more than 10 years experience in this business. They know almost every property like the back of their hands. Accordingly, each property advisor presents the new property at the weekly team meeting. Together we determine the best possible price and work on a marketing strategy using our collective experience and know-how. Subsequently, the results are presented to the property owners and we make a joint decision on how to proceed.
Five years ago some good friends of mine set up in Port Andratx and they now work here doing property maintenance. Since then, each time I visited them, which was quite often, they pester me to come and work here as an estate agent. The property market in Mallorca is much more challaging than in Cologne, where I’m from and where I worked for 20 years as an estate agent. In the end I took the plunge and moved, along with my dog and a few bits of furniture.
All I can say is that, for now, I haven’t regretted a single moment. The work, the team and, of course, these idyllic surroundings combining the sea and the mountains, have given me a whole new lease of life. I’ll never ever leave this place.