A Purist Approach to Premium Real Estate
The North American firms that have joined Engel & Völkers’ network often point to one distinction as the overriding factor in their decision: the brand’s true, undiluted representation of premium real estate.
For Gary, selecting a brand that would resonate with Buckhead, Atlanta’s escalating high-end clientele was critical. Gary’s brokerage is opening later this year in what she describes as the highest-rent project currently under construction in Buckhead, being touted as the Rodeo Drive of Atlanta.
“Buckhead is steeped in tradition and is a very strong market for the wealthy,” she explains. “Today, we’re not only seeing older money, but also an influx of affluent consumers from the movie and music industries, with the likes of Tyler Perry and Usher opening studios here. The majority of retailers in this complex are based out of Europe, so there will be a lot of international consumers who recognize the Engel & Völkers brand. Most of the real estate companies here today have a very traditional look, but Engel & Völkers uses the shop concept and is very clean-lined and modern. It’s like the Tiffany’s of real estate.”
Louis Critelli agrees. “This international company is truly international,” says the president of the soon-to-open Engel & Völkers in Monmouth County, N.J.
Some nine years ago, Critelli left a national real estate brand where he had been a top-producing agent to launch his own firm. While several brands courted him over the years since, he felt that they all missed the mark for the type of premium firm he was intent on developing, and therefore, went out under his own banner as Critelli REALTORS®. However, when Engel & Völkers came along, he took a closer look.
“I was really impressed that they were an independent, international company specializing in one thing: a brand promise of providing a consistent, premium-level of service,” says Critelli. “Engel & Völkers has integrity and experience since 1977, and it’s a company with one man at the helm—I liked all of that. Plus, having a protected region, I don’t have to worry about watching another company open up and take business away. We used to say that we were the Monmouth County address for luxury. Now we’re the Monmouth County address for luxury with an expansive and truly connected international network.”
The international opportunities that Engel & Völkers offers to North American brokers was also a deciding factor for Ron Amendola—formerly of the Sutton Group in Toronto. A self-proclaimed “slow-moving guy,” Amendola made the decision to leave his brand of 24 years to become the first Canadian firm to join Engel & Völkers. “I analyze things to death, and sometimes you miss opportunities when you think too much,” he explains. “But I didn’t take a lot of time to figure this one out and I feel very confident I made the right choice.”
According to Amendola, Engel & Völkers is different from anything he’s seen in Ontario and Toronto. “Engel & Völkers is definitely a global company with a referral network that can be appreciated by agents here in Toronto as well as agents abroad who want to work with a Canadian company.”
Case in point, Amendola is already receiving inquiries from Engel & Völkers brokers in the U.S. and he hasn’t even opened his doors as the new brand yet. “The system for referrals is already in place,” he explains. “You don’t have to reinvent the wheel—it’s all there and planned out; the blueprints are already there.”
“I was surprised to learn how many people in my own backyard knew the Engel & Völkers brand,” says Scott Askew, who opened his Engel & Völkers Intown Atlanta brokerage in Georgia last April with a grand opening event. “We unveiled our new Engel & Völkers sign and people walking by stopped to tell us that they knew who we were and were happy we were here.”
A Global Network, Right Next Door
Engel & Völkers brokers across the board underscore the unique and invaluable ability of the brand’s global network to act as close-knit colleagues under one roof. Chalk it up to core values and top-notch technology.
“We are not about having more dots on a map,” says Carol Sollak, a license partner and broker for Engel & Völkers Wellington and Palm Beach in Florida. “It’s about connecting those dots, and our network and technology is unparalleled in being able to do that.”
According to Siegel, Engel & Völkers’ truly global network is a critical competitive differentiator in his New York marketplace.
“We are the only global brand that works in a fully integrated platform,” explains Siegel. “What I see online, my associates in Hong Kong and Monaco also see. I have a call every Wednesday night with my colleagues in Hong Kong so they’re aware of the opportunities in New York and vice versa. This is a borderless, boundary-less, global company, and we quickly and pervasively get that across to our customers, clients and sales advisors.”
This degree of seamless, global networking is a huge part of the value proposition to international consumers, say Engel & Völkers brokers. “The consumer is going to see a much better option from a truly global brand that is focused on one thing: selling to the premium market consumer,” says Critelli. “I can now say to customers, ‘tomorrow, your listing will be on a live feed in every Engel & Völkers office around the world, from New York, Miami and Los Cabos to Rome, Switzerland and Hong Kong.’”
Complementing its global technology platform, Engel & Völkers creates many opportunities for its brokers around the world to network in person as well.
“It’s not like old-time networking at real estate conferences,” says Sandra Wilken, license partner and broker at Engel & Völkers Scottsdale who just returned from the company’s annual Polo Cup and White Party in Mallorca, Spain. “Here, you’re networking with high-end firms that are all part of your company, that have the same standards and ideals. People exchange ideas freely with people who are like-minded, and this turns into business. I am comfortable referring business to other Engel & Völkers brokers because I know their level of expertise, and I believe they will do the same for me.”
A Winning Combination for the Future of Real Estate
The unique value proposition that Engel & Völkers brings to the table promises to expand the brand’s footing in key North American markets. Siegel clearly outlines the opportunity.
“We have a very seasoned management and leadership team that is U.S.-trained and based,” says Siegel. “We have brand credibility, but we’re entrepreneurial and owned by the man who founded us—we’re a nimble company. A lot of our competitors have a model where the quarterly earnings report can dominate strategy and decisions. We can bob and weave as required by the market. We think long term and we think smartly. There couldn’t be a better time or place for all of these factors to come together for a global real estate brand like Engel & Völkers.”
