2019 turned out to be yet another successful year for Engel & Völkers. Indeed, the Group generated more than 819 million euros in total commission revenues, marking a 13 per cent growth in turnover. “This record result for us, with a turnover in excess of 800 million euros, demonstrates just how effectively our expansion strategy has taken hold around the world,” says Sven Odia, CEO of Engel & Völkers AG, looking optimistically into the year 2020. We are very proud of this result to which our 9.700 real estate agents and more than 12.500 people working under the Engel & Völkers brand have contributed worldwide.
With a generation of 250 million euros in commission revenues, North America looks back on a highly successful year, an incredible achievement that has not gone unnoticed. Stefan Swanepoel, CEO of the Swanepoel Group, one of the most influential consulting firms in the real estate industry, said of us: “Engel & Völkers is the first non-American real estate company to have made it in the USA.”
Also the DACH region has substantially contributed to the 2019 Engel & Völkers success story. The residential DACH division increased its commission revenues by 13 per cent, while Switzerland alone saw an increase in turnover of 26 per cent.
Another 2019 highlight consists in the opening of three new Market Centers: in Lisbon, a second one in Madrid and a Market Center in Athens which allows Engel & Völkers to position themselves in a very important European market.
Overall, our Market Centers generated revenues totalling 75 million euros. The Market Centers in Rome and Paris, in particular, can look back on an extremely positive performance last year.
To remain competitive, Engel & Völkers will continue to invest heavily in new technologies in order for our agents to work more efficiently and independently and for our partners to benefit from the best services.
After a successful opening in 2019, our Market Center in Luxembourg has been able to add to the Engel & Völkers success around the world, providing our international clients with an exceptional service, first class properties and in-depth knowledge in a very promising and dynamic real estate market. Our Luxembourg team is generating an average sales price of 1.301.200€ within an average sales period of 3 months, and with a record sales price at 4.420.000€.
With our beautiful Market Center in Luxembourg open we are confidently attacking 2020 with an ambitious Marketing Penetration Strategy. In order to pursue our expansion course we are actively recruiting new talents as freelance real estate agents. Our newly devised training and coaching programs in combination with the proven Engel & Völkers process will ensure their quick integration and accelerate their professional development. In our agency in Luxembourg-Merl, our 6 permanent staff members - from the front desk to sales to marketing - ensure that not only our clients are always being given the best service around, but also that our growing team of agents benefit from our sales tools and accompany our clients every step of the way.