Tina Fröhlich is the Managing Director of Engel & Völkers Development Services Cologne. Day in, day out Tina Fröhlich and her team have experienced and proved that property development is a people business, thriving through outstanding market expertise and an open, trusting communication with the clients and developers. In recent years, Development Services Cologne has, too, bared witness to changing customer demands and shifting trends in new development, thereby underlying the importance of recognising these changes before or as they occur. In Cologne, the Development Services team is involved from the get-go and consults developers on the latest clients‘ preferences and the sums clients are willing to pay for new development projects. In her interview and video below, Tina Fröhlich speaks about the latest observable trends in new development and how developers are supported in all stages of property development.
The real estate market is in a constant state of change and is characterised by numerous market trends such as digitalization. In your opinion, how are Engel & Völkers Development Services preparing for the new developments of tomorrow?
In order to accurately capture trends and emerging transitions, well-founded research is required in a wide variety of fields. Before analysing purchase behaviours of clients, one must dedicate time to understanding the search behaviour of prospective said buyers. Here, it is important to capture both the digital possibilities and the personal needs of clients. To this end, worldwide studies are conducted, including the Future Living study by Engel & Völkers Development Services. In this study, we have undertaken an analysis of the buyer-needs of the future and consider these findings a perfect foundation for the subsequent planning by the developer.
Customer needs and preferences are continuously changing and adapting. Which customer preferences stand out in today's world?
The lifestyles of several people have changed significantly in the past two years. For instance, the demand for more space, larger outdoor areas as well as quickly accessible local recreational opportunities have grown significantly. Indeed limited freedom in many areas of our lives are frequently being compensated through more comfortable living spaces. Homeoffice has widely enabled more quiet daily routines, which in turn allows people to engage in more leisure activities, such as sports, walks and small time-outs throughout the day in one’s own home. Clients have thus started seeking more ideal living situations. Spacious living areas and a proximity to recreational areas and nature provide households with small and/or school-aged children with more quality of life and relaxation in everyday life.
Behind the Development Services brand lies a proven methodology and a comprehensive service portfolio. How do you support and advise developers in Cologne?
Our sales teams are always attentive to new information and filters customers‘ preferences based on locations. Before the beginning of construction and - in the best case - before the building application is submitted, we always consider which type of client prefers which location, which preferences these clients have when it comes to the properties and what are they willing to pay for their desired property.
As Managing Director of Engel & Völkers Development Services Cologne, you have a very special insight into the way your team works and how you collaborate with property developers. How do your services for the developers differ from those of your competitors?
We work very closely with the resale property teams in three Cologne locations, thereby granting us access to an extensive customer base and close contact to the customers without public marketing. In this way, our new development projects are presented in a much more precise and targeted manner. In contrast to traditional public marketing - where costumes have to take initiative and have no contact person available for any initial considerations. From the very beginning, the prospective customer is provided with information and personally taken care of by our employees, thus experiencing an individually tailored consulting service. Of course this approach goes hand in hand with the appropriate manpower, which we at Engel & Völkers Cologne are able to offer.
Ideally there is a target-group oriented consultation and coordination with the developer in advance, in order to meet the needs of our customers and to achieve the deserved sales success.
As a nationally and internationally active company, we are equipped with significantly more comprehensive marketing activities and options. Thanks to our brand, we are more attractive and financially stronger than most of our competitors. There is an enormous flow of information within our network, which always positively impacts our work.
Last but not least, accurate market and location analyses are as much a part of our standards as a perfect preparation of documents and a correspondingly attractive sales brochure.