The Story of a Brand - 40 Years of Engel & Völkers by Engel & Völkers

THE STORY

OF A BRAND 40 YEARS OF ENGEL & VÖLKERS

by Countess Jeannette Beissel von Gymnich

THE STORY

OF A BRAND 40 YEARS OF ENGEL & VÖLKERS

by Countess Jeannette Beissel von Gymnich

“A company can with a functioni CHRISTIAN VÖLKERS

only work ing system.”

“Passion, team dynamics make CHRISTIAN VÖLKERS

spirit and a difference.”

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PAGES

REAL ESATE SPECIAL

“To be successf must be thought to the end.” CHRISTIAN VÖLKERS

sful, ideas ht through

Table of Contents -----------------

INTRODUCTION

Why Does a Real Estate Broker Need a Brand?

1 9 5 5 -1 9 8 0

1 9 8 1 -1 9 8 6

1 9 8 6 -1 9 8 8

1988 O N WA R D S

88 90

The Early Years The Founders The Engel & Völkers Manual and Brand Grund Genug (GG Magazine) INSERT I

GG 1989 O N WA R D S

The Engel & Völkers Pioneering Spirit 1989 O N WA R D S

104

From Ruins to Manor House: An Adventure on Majorca

120

Polo

122

INSERT II

1 9 9 0 -1 9 9 5

In Search of Excellence 1 9 9 5 -1 9 9 6

138

Innovative Corporate Identity Strategy and Memorable Parties

162

1 9 9 7-2 0 0 0

180

20 0 0 O N WA R DS

Introducing the Franchise System Business Challenges 2 0 0 0 -2 0 0 4

192

The Explosive Lift-Off of the New Economy and the Internet

208

Charity

INSERT III

210

2 0 0 5 -2 0 1 2

228

20 05–2015

242

2012 O N WA R DS

258

2014 O N WA R DS

280

2018 O N WA R DS

Germany, the USA, and Global Development “Made in Germany” Conquers the USA Market Centers & Franchise Growth Digital Transformation Visions & Passions

Y O U R W O R L D , Y O U R W A Y .

WORDS FROM THE AUTHOR

assion, competence and exclusivity—these core values frame the corporate philosophy of Engel & Völkers and have motivated selected members of the international team to contribute to the creation of The Story of a Brand. After over two years of intensive research and eighty interviews, a work has emerged that reflects the spirit of Engel & Völkers colleagues worldwide. No hurdle has been dodged, no challenge bypassed—and the positive results of the tenacity and dedication of all members of the company can be readily observed. Starting as a local Hamburg real estate company, Engel & Völkers has evolved into one of the world’s leading service providers for the brokerage of prestigious residential and commercial real estate, yachts, and aircraft in the premium segment. As a writer, I journeyed with delight to the crossroads where aesthetics and business meet, an intersection constructed by the founder’s passion for his unique brand. Forty years ago, Christian Völkers’ global adventure started on the Elbchaussee in Hamburg. As he celebrates four decades of Engel & Völkers’ remarkable triumphs and challenges, Christian’s personal journey—full of adventure, aesthetics, and joy—continues.

COUNTESS JE ANNET TE BEISSEL VON GYMNICH

FOREWORD

Dear Readers,

With a thick volume like this, browsing through the pages is

A manual was put in writing, and continues to be updated.

the first impulse. Yet delving into the remarkable story within

It is the DNA of Engel & Völkers, embodied and represented

takes you to the heart of what this book is about.

by what are now more than 10,000 employees. They all share this same passion for the system and its brand. That is why

We had planned an “Engel & Völkers Chronicle” to mark our

development and growth have been such a success, and why the

fortieth anniversary: a journey through time recounting the

system and brand have been constantly optimised ever since.

history of the company. A look back, of course, at the early days, to the sacrifices and defeats important for decisions that

These insights soon superseded the idea of an “Engel & Völkers

held the prospect of success—and later brought success. The

Chronicle”. “The Story of a Brand” seemed more appropriate

founding and establishment of the company, some low points

to us. But this is not a story with an ending. Instead it sets

and soon unforgotten highs, in this order of events—all of this

a milestone that captures and conveys what really matters

becomes apparent in this account.

and what needs to be honoured with a tremendous sense of gratitude: the companions and advisors, the loyalties and

While working on the book it soon became abundantly clear

friendships over the course of 40 years—who are given mention

that there is not only an external history of Engel & Völkers.

in this book for this very reason.

There has also been constant internal development over the course of four decades. Everything began with our innate pas-

My special thanks therefore also go to all those who joined

sion for perfect service. Today’s one-of-a-kind image revealed

our brand in a spirit of trust as independent entrepreneurs,

itself much later: Engel & Völkers has become a unique and

as successful licence partners and real estate agents. Through

inimitable brand over its long history. It stands for exclusivity,

their hard work and unwavering commitment, they have

professionalism and passion.

made and continue to make an enormous contribution to the success of Engel & Völkers worldwide.

The process of perfecting this service consistently over the years—something which involves the entire value chain

From our new headquarters in Hamburg’s HafenCity we now

of property brokerage—has resulted in the emergence of

look down the Elbe River, directly through the “Gateway to the

the Engel & Völkers system for all employees and partners.

World”—and we do this with a great deal of optimism.

CHRISTIAN VÖLKERS

Introduction ------------

I N T RO D U C T I O N W H Y D O E S A R E A L E S TAT E B R O K E R N E E D A B R A N D?

The system behind a brand, and why it is so indispensable.

successful business needs a recognisable brand. The mention of Engel & Völkers, a real estate company with a compelling brand identity, prompts thoughts of elegant villas, high-end properties, and sophisticated people

living in the world’s most exclusive locations. A superficial examination of the corporate structure of Engel & Völkers would reveal a global company presenting panoramic selections of premium real estate, yachts, and private jets in glossy advertisements or in the company’s magazine, GG. Even though Engel & Völkers offerings include commercial properties and family homes, the company is primarily distinguished by its high-profile, spectacular transactions. Consider the sale of Playmobil founder Horst Brandstätter’s luxury villa on Jupiter Island in Florida. Nevertheless, Christian Völkers still claims he does not sell real estate. How can that be? The Story of a Brand sheds light on the way a local agent has built a global real

estate company, and looks at the necessity of branding to guarantee healthy growth and international reputation. In 1981, while attending university, Christian Völkers became partners with his friend Dirk Engel, who had founded a small broker’s office in a villa on the Elbchaussee in Hamburg. The partnership lasted only five years; in 1986, Dirk Engel committed suicide. What could have meant the demise of his business challenged Christian to move forward. He took time to write a three-hundred-page book that details the real estate broker’s work process.

I N T RO D U C T I O N W H Y D O E S A R E A L E S TAT E B R O K E R N E E D A B R A N D?

The Engel & Völkers Manual became required reading for every colleague—to be meticulously followed from start to finish. It specifies the way a broker welcomes a client, the proper technique for showing each room, and covers every aspect of the business. The Engel & Völkers Manual, a key to the success of the company, pays tribute to Dirk Engel, whose name still graces the company logo. Over the years, standardised sales procedures have been streamlined, updated, and taught at the Engel & Völkers Academy. As if that were not enough, Christian Völkers has continued to implement cutting-edge marketing strategies that have fundamentally transformed the real estate market around the globe. In the mid-nineties, to the astonishment of German competitors—and fighting against resistance in his own company—Christian Völkers established an innovative new way to sell real estate by opening a chain of accessible shops. Precise rules dictated the uniform look of every location, right up to the white orchid on the reception desk. To this day, the appearance and conduct of all employees reflects a lively corporate identity. Professionally trained and properly dressed, they present themselves as cultivated and discreet, the type of advisor one might encounter in the family office of a distinguished private bank. In 1998, global expansion began with another major step in the evolution of the company: the establishment of a franchise concept, making individual brokers the company’s most valued clients. Because the brand promised high quality, the brokers gained the trust of their own clientele. Real estate agents working under the Engel & Völkers umbrella were now acquiring properties exclusively, helping them speed up the sales process. Sellers, buyers, licence partners and real estate agents benefitted from the reputation of the brand. Many years of quality service, competence, and attention to detail were rewarded by success in numerous international locations. Spanning more than thirty countries on four continents—and with more than 10,000 colleagues—the strong and cohesive corporate image of Engel & Völkers has remained vital to its continued growth. Three core values—competence, exclusivity, and passion—outline the philosophy of the brand. By offering over 1,000 seminar hours a year, the Engel & Völkers Academy oversees the training and service checks necessary to maintain the brand’s standards of excellence. The client has the same experience in every corner of the world. The uniform trust in the brand, whether it be in Rome, New York, or Hong Kong, gives each real estate agent a secure, consistent framework. The brand’s superb standing, based on the high satisfaction levels of its clients, facilitates the evolution and expansion of the company. In 2013, Christian Völkers took another decisive leap forward. With the opening of Market Centers in select cities, the company began using its brand strategy to expedite growth and gain a larger profit share in the world’s most important markets. Licences were repurchased by the parent company. With the new Market Centers, the company gained a service platform tailored to the needs of real estate agents and

I N T RO D U C T I O N W H Y D O E S A R E A L E S TAT E B R O K E R N E E D A B R A N D?

clients worldwide. According to Christian Völkers, the unprecedented growth and volume of transactions resulted in a rising demand for professional services. Once again, the brand, through its international network, provided access to a global client base interested in strategic real estate investment. Tasked with filling its brand with valuable content and offering services that meet superior standards of quality, Christian Völkers has consistently valued the trust of the brand’s esteemed client base. “To be successful, you must focus on the end result,” Christian says, as he chronicles the history of his global real estate business. Words of a visionary—from a man who celebrates the fortieth anniversary of his company while continuing to build his brand.

1955-1980

The Early Years

1 9 5 5 -1 9 8 0 T H E E A R LY Y E A R S

“I was always convinced that small steps can lead to remarkable achievements.”

Christian Völkers was born in the Tabea Hospital in the Blankenese district of Hamburg at five minutes past noon on the 20th of October 1955. It was a blustery autumn day in

Hansestadt Hamburg) lies in the north of Germany on the banks of the River Elbe. The city’s formal name refers to its long and illustrious history as a member of the Hanseatic

the harbour city; a bracing breeze teased the silver waters of

League; as a free city of the Holy Roman Empire from 1189;

the Elbe into a playful dance. Cumbersome freight vessels

as a self-governing state until the foundation of the German

headed to the shipyard, as traffic crept from downtown towards Blankenese. Stately mansions lined the Elbchaussee, an avenue that snakes along the riverfront. Most of the gracious Elbchaussee homes, as well as those in Blankenese, had survived the war without damage. Legend has it that the for-

Reich in 1871; and as an independent part of the Federal Republic from 1946. The city of Hamburg has always been proud of its commitment to freedom of trade. In the Hamburg world of business, a handshake on a contract serves as a binding form of agreement.

mer fishing village, with its sensational views and elegant properties, is a place blessed by happiness.

Hamburg’s harbour, Germany’s largest seaport, offers ideal conditions for shipping. The HafenCity, a new district

The Free and Hanseatic City of Hamburg (Freie und

currently under construction, consists of 388 acres that will

1 9 5 5 -1 9 8 0 T H E E A R LY Y E A R S

Christian’s life began in a city famous for venerable and free merchants. Born as a Libra with Sagittarian rising, his horoscope predicted a lifetime of curiosity, a desire for adventure, and loyalty to his friends. Astonishingly accurate, his horoscope also anticipated a hunger for extensive travel and a thirst for knowledge. Two years younger than his brother, Thomas, Christian Völkers led a sheltered life with his family in the Hamburg suburb along the Elbe River. His father worked as a chartered engineer, while his mother stayed home and took care of the family and household. Visitors to the home describe the atmosphere as friendly and harmonious. Annelie, Christian’s mother, recalls earlier years with her blond, daredevil son:

“Even as a small child, he possessed the determination and drive to face challenges.” Determination and drive can be trying in a child, but extend the downtown area and weave additional housing, industry, and leisure opportunities into the city’s rich tapestry of tradition and innovation. Twelve thousand residen-

they served Christian Völkers well when he came of age. His determination provided strength to overcome difficult situations, while his drive helped him to slowly develop a

tial units and new jobs are planned for up to 45,000 people.

thick skin, even though—as his wife Ninon confirms—his

The largest urban development project in Europe includes

compassionate core remained. Both qualities, sensitivity

the construction of an artistically impressive building de-

and toughness, merged to build his strong character.

signed by star architect Richard Meier, in cooperation with Christian Völkers. By the time the “Strandhaus by Richard Meier” is completed, more than sixty years will have passed, years that define the life and work of Christian Völkers.

Christian developed a sense of justice at an early age, an honourable trait that has accompanied him throughout his life. A story from his elementary school years demonstrated his regard for fairness: During gym class, a disabled boy had struggled to stand alone on a balance beam. Without being

At just one year old, the look in Christian Völkers’ eyes already had a distinc t charisma that captured hear ts.

prompted, young Christian Völkers offered his hand to help. At school, classmates and teachers regarded Christian Völkers

Christian’s parents, Annelie and Horst Völkers, watch the development of their son’s company with great attention and interest.

as creative and skilled. He exercised his talent by construc-

The two brothers Christian and Thomas (two years older) have always shared a par ticularly close bond. Their common interest used to be reading “Der Spiegel” magazine; nowadays they devote their combined attention to strategic corporate development.

thetics. The family envisioned a future for him as an archi-

ting buildings and railroad landscapes with stones and blocks, demonstrating an aptitude for detailed planning and aestect—and they were not off the mark with their prediction. With his fascination for detail, Christian Völkers eventually became the architect and master builder of his own brand.

1 9 5 5 -1 9 8 0 T H E E A R LY Y E A R S

Seeing Christian Völkers today, one can hardly imagine the teenager he was, racing through Hamburg on his “Maico” military motorcycle with his long wild hair streaming behind him. Although he devoted more time to his bike than his books, Christian excelled in school.

He preferred sports to mathematics, especially the fast-paced games of hockey and tennis. He had an affinity for golf, but its ambling quality lacked excitement. Much later in life he would discover polo—the perfect match for his love of speed and team spirit. The

JOCHEN DÖHLE

R AINER SCHOENBACH

Shareholder (2003 –2015)

“His tenacity and passion convinced me to take up an interest in the company, both as a friend and an investor.”

“For a long time, Grille lived between what he could afford and what he needed to afford to fulfill his vision. This ‘reality disconnect’ has led to him fulfilling his vision like nobody else I know.”

first famous Engel & Völkers Cup took place in 2009, and became an annual event on Majorca. But during his younger years he focused on friends, girls, and his newest vehicle, an ancient bright-green Karmann Ghia. After graduating from high school, Christian Völkers started out in life on his own. In 1973, he moved to a townhouse

Not surprising for a Hamburg citizen, Christian Völkers discovered his interest in shipbuilding and began an appren-

in a residential community in the Hamburg suburbs with his

ticeship with a shipping company. Confined by the limita-

brother, Thomas, and another friend, Jochen Döhle. The boys,

tions of the conservative enterprise, he set out to develop his

who often cut costs by dining on cheese and toast, were happy

own ideas and closed his first business transaction while still

to be independent. Lack of funds did not hinder their dreams.

an apprentice. During the first months of his training, he had noticed that too large quantities of meat and sausage were bought as provisions before each ship’s journey, and later thrown overboard partly due to poor quality. Since the father of Christian’s girlfriend owned a large meat firm, Christian approached the shipping company’s owner and proposed buying smaller quantities of better quality meat. He offered to arrange delivery. Christian Völkers’ first business deal was an important lesson for future transactions: Clever networking and the promotion of quality goods lead to financial gain. He benefitted from the profits of this deal for many years. In 1976, after spending time in Barcelona, Christian Völkers graduated from his apprenticeship, became a certified shipping merchant, and enrolled at the University of Hamburg to study business administration. To support himself, he worked at a Hamburg economic advisory company located on the Jungfernstieg, an urban promenade lined with ar-

The many facets of Christian Völkers, from 1963 to 2017.

chitecturally impressive buildings. There, Christian learned about the opportunities offered by American real estate

1 9 5 5 -1 9 8 0 T H E E A R LY Y E A R S

funds. When he was presented with the chance by his friend and mentor, Hans-Joachim Ehrhardt-Renken, to work for Karsten von Wersebe, CEO of the York-Hannover Group in Toronto, Christian seized the moment, accepted immediately and travelled to Canada to gain first-hand experience. During this time Christian’s friend, Dirk Engel, had started

Rainer and his future wife, Bettina, in their small student apartment in the Altona district of Hamburg. In a tiny kitchen, the three friends chatted through the night. Grille, as Christian was called by his friends, talked about his future as a real estate broker. The friends reacted with concern. Hamburg in the seventies vacillated between conservative

his own company, Engel & Cie., which sold foreign proper-

and cautious. Gentlemen preferred a tweedy, British style of

ties to German buyers. Back from Canada, Christian Völkers

dress, while ladies walked along the Jungfernstieg in twin-

spent time with Dirk discussing mutual business interests. Dirk Engel had recognised that the international real estate

sets, pearls, and navy-blue pleated skirts. Parents outfitted their children in clothing from the “Hamburger Kinderstube”,

brokerage business was costly and lacked potential. He de-

a store famous for its traditional line of fashion. Hamburg

cided to change direction by devoting his time and energy to

parents expected their sons to either pursue a commercial

German real estate. Dirk asked Christian if he would consider

career at a successful company, or dedicate their professional

joining forces in this endeavour, a suggestion that intrigued his friend. Christian agreed to think about the proposition.

lives to one of Hamburg’s private banks—with Berenberg or Warburg high on the list of acceptable employers. During this time, Hamburg real estate brokerage firms tended to be

Twenty-five years old, almost finished with his university studies, and not thrilled with his work as an auditor at the economic advisory company, Christian Völkers was ready

discreet, with few employees and undefined structures. Most business transactions were conducted on the golf course. Rainer could not believe that Christian would willingly opt

for change. He requested a few days to think about his de-

for such a lifestyle. Christian found it difficult to disagree

cision and met with his best friend, Rainer Schoenbach, for

with Rainer, but argued that his future as a real estate broker

advice. Excited about transforming his life, Christian visited

would be successful—an idea met with laughter by his friends.

The ridicule might have deterred Christian. Instead, it persuaded him to forge ahead with his plans. Christian proclaimed he would never work for anyone other than himself. He insisted on entering the relationship with Dirk Engel as an independent, yet equal partner, a precocious and unusual step for a young student who was still working towards his degree. The brokerage business was an established and respected industry in Hamburg, in contrast to other regions of Germany. Large shipbrokers and huge insurance brokerage firms enjoyed good reputations. Only a handful of companies brokered real estate. Observing the poor level of training in the real estate business and aware of the unprofessional image of the industry, Christian Völkers spotted a real opportunity to secure a competitive Christian Völkers—here in an excerpt from the commercial register (incorrec tly written with ck)—was appointed as Managing Direc tor by a shareholder resolution on 10 November 1981.

advantage. He firmly believed that weak competition inspired resourcefulness, and that resourcefulness—braided with originality and assurance —would inspire success.

1981-1986

The Founders

1 9 8 1 -1 9 8 6 T H E F O U N D E R S

“The company name and the corporate logo honour my friend, Dirk Engel.”

Dirk Engel, a tall, blond German, hailed from Hamburg’s Elbe suburbs. A congenial man who was always a favourite among women, Dirk quickly became good friends with Christian Völkers. They discovered their contrasting personalities

Dirk Engel vacated his city office on Ballindamm in 1980 and established a new company base in an empty villa on the Elbchaussee. Christian Völkers explains: “Elbchaussee 414 had served as a nursing home for a very long time, then

complemented each other: Dirk was charming and extroverted,

it stood empty for many years. It was completely run down.”

whereas Christian preferred to exercise his powers of obser-

The villa, after undergoing an extreme makeover, would even-

vation while remaining in the background. The more intro-

tually become the Engel & Völkers flagship office.

spective Christian Völkers had ambitions of becoming an independent entrepreneur, while the gregarious Dirk Engel al-

Dirk Engel commissioned his friend, architect Dino Ries,

ready had years of experience in an established market. Both

to supervise the renovation. Dino Ries had excellent taste,

men were polite, courteous, well groomed and good-looking.

and—because he was a perfectionist like Christian Völkers—

After many discussions, they realised they shared a common

obsessed over every feature of the house. Up until his death

goal—to reinvent the Hamburg real estate market. With this aim in their sights, they agreed to become equal partners.

in 2013, Dino Ries would continue to work with Christian, even rebuilding his private home. “Both men were complete-

1 9 8 1 -1 9 8 6 T H E F O U N D E R S

GISEL A KRÜGER

EVA-MARIA HAUG

ERICA WARBURG

Accountant Clerk since 1989

Employee & Member of the Management Team (1983 –1997)

Landscape Gardener

“When I started at E&V we were a team of 35. At first there wasn’t much to do in the acccounts department, then suddenly this changed. I admire Mr. Völkers for his life’s work.”

“He never allows anyone to talk him out of his ideas.”

“He is always very true to his word, distinguished by the Hanseatic traits of loyalty and the unconditional fulfillment of promises.”

ly infatuated with details,” explains Erica Warburg, Dino’s former wife. Erica, a landscape architect, later designed

The first new members to join the company were EvaMaria Haug, a managerial assistant, and Gesine von Ehren,

Christian’s private garden. Once renovation work had been

an apprentice. Daring to challenge the traditions of estab-

finished, her office would be located on the upper floor of

lished Hamburg brokers, the young foursome soon proved

the Engel & Völkers building on the Elbchaussee.

When renovations were completed at the beginning of 1981, Elbchaussee 414 was ready for occupancy.

their innovative ideas could lead to measurable success. The location of the new brokers’ villa next to the Nienstedten Church, where Hamburg residents routinely celebrated weddings, baptisms, and other landmark events, was particularly auspicious. Because of its advantageous address, churchgoers began to pay attention; they also noticed the self-confident approach of its young employees. Max Warburg recalls:

Perfect timing for Christian Völkers, who had just concluded his business administration studies and joined Engel & Cie. as Co-Managing Director. The company specialised in the sale of high-quality residential properties in the Elbe suburbs. During the course of 1981, Engel & Völkers was founded. According to entry HRB21227 in the business registry, Christian Völkers was appointed as the second Managing Director on 22nd June. The company would focus on the rental of real estate directly or on behalf of a third party. Dirk Engel claimed part of the space above the ground floor as his own private apartment. Two rooms below were used as an office, leaving the rest of the villa empty, except for the sublet to Erica Warburg for her premises.

The painting of Dirk Engel hanging in Christian Völkers’ office has seen its fair share of relocations over the years. It is set to have pride of place in the new company headquar ters. Christian Völkers with Dirk Engel. The competence of the two young entrepreneurs soon began to stand out in the Hamburg world of proper ty brokerage. “Engel & Völkers” at work. Always in the foreground—the acquisition of new real estate. And ever y thing is white, right from the ver y outset, right down to the colour of the telephone.

1988

1991

1 9 8 1 -1 9 8 6 T H E F O U N D E R S

“Christian Völkers and Dirk Engel had the entrepreneurial expertise to shake up the brokerage business in Hamburg.” At this point Dirk Engel, who had travelled frequently to North America in his earlier years, was the only experienced member of the quartet to have completed various internships with other brokerage firms. His knowledge led to success and quickly necessitated an expansion of the team. All future employees—perfectly suited to the high Engel & Völkers standards—would be selected from the upper-class neighbourhood in the immediate vicinity. Dirk Engel, Christian Völkers, and the team impressed the

The team was like a family. In the beginning, Dirk Engel,

community and were focused on being professional. Work-

who stored files and supplies in his living quarters, invited

ing around the clock might have seemed challenging, but the

his colleagues to use his private apartment for shared meals.

group felt at home and enjoyed the immense workload.

When the company eventually added new apprentices to the original crew, Dirk’s apartment reverted to its private status.

Christian Völkers claimed a method to his innovative actions.

Even so, joy, dedication, and loyalty prevailed in the villa.

He used bumper stickers and matchboxes with the Engel &

The warm spirit of Engel & Völkers was already very evident

Völkers logo, and ran direct-mail postcard campaigns. He

within the rooms of the Elbchaussee office.

impressed prospective clients with the scale of his small company by developing creative ideas to conceal its size. For instance, he gave each colleague a separate telephone line. When a call came in, the caller was greeted by a friendly message and asked to wait for the responsible colleague to take the call. The caller got the impression that the company had

Financial progress was slow however. Christian Völkers would later remember that he has always seen money only as an instrument for reaching his goals. The colleagues enjoyed their careers, their shared ambition, and their friendships; the work became both a hobby and a profession.

many departments, even though there were only four people sitting at arm’s length in two adjoining rooms!

“Work hard, play hard” was the motto of the day right from the beginning. Dirk Engel and Christian Völkers decided to share their joyful spirit by throwing a large cocktail party at the villa on the Elbchaussee. They invited influential members of Hamburg society, in addition to potential clients at the premium end of the property market. It was risky—the company had to

Elbchaussee 414. Where it all star ted. To this day, the white villa remains the Engel & Völkers trademark. The development of the brand from 1988 to the present. Always featured: the Elbchaussee villa. Dirk Engel focused in the car on the way to a client meeting.

cobble together a top-drawer event on a shoestring budget. By pooling their collective resources and improvisation skills, they created an exclusive “happening”. Employees were required to dress properly: the ladies in conservative jackets and skirts, the men in dark suits with silk ties. Dirk Engel, in an attempt to look “serious”, wore a

At the time, the only one of the foursome with any experience at all in real estate sales was Dirk Engel, having completed internships at various other brokerages.

1 9 8 1 -1 9 8 6 T H E F O U N D E R S

pair of prop eyeglasses. Many prominent citizens of the city on the guest list accepted the invitation, some for reasons of friendship and courtesy, many out of curiosity. A few of them arrived with potential clients in tow. The party stretched into

Elegant beginnings: Elbchaussee 414. Eva-Maria Haug and Gesine von Ehren, proud employees from the ver y star t, at the “Engel & Völkers Immobilien” office. Press clipping dating from 1986.

the night and became the talk of the town, with favourable reports in the press. The next day a prominent guest called to thank Engel & Völkers by giving them the sales listing for their property. The event strategy—corporate communication by way of cocktail party—had been a success! As the stellar reputation of the real estate company grew, demand for its services increased. When the team expanded to ten full-time employees, Dirk Engel gave up his private apartment and the company took over the space. Dirk Engel was a natural real estate agent who enjoyed long, intensive conversations with his clients. Christian Völkers, an entrepreneur fresh from his studies in business administration, dedicated his energies to structure and methodology.

Dirk practiced a charm offensive, while Christian remained reserved. They savoured their friendship and celebrated in joint achievements. Because they worked so well together, they joked that they were like an old married couple. No one suspected the partnership and friendship would soon come to such a heart-breaking end. Eva-Maria Haug, Dirk Engel’s former assistant, held him in high regard, but she had noticed his choleric tendencies. Dirk’s colleagues thought his occasional absenteeism and mood swings were harmless, but they turned out to be symptoms of an inherited ailment—severe manic depression. Unaware of the gravity of Dirk’s problem, Christian Völkers covered for him, hoping to protect the professional image of the company. Eventually, Dirk’s illness resulted in tragedy. In 1986, at the age of thirty-three, Dirk Engel took his own life by drowning shortly after a shared breakfast with Christian Völkers. The suicide left Christian devastated on many levels—he had lost both a partner and a friend.

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to the Office on Elbchaussee 414

MOTTO

LOCATION

OFFICES & SHOPS

WORK

HARD

LOGO

1978

1981

REVENUES

1.5

in mill. EUR

HARD

PLAY The first headquar ters are on Hamburg’s elegant “Elbchaussee”.

1.5

1.0

0.5

0 1978

MARKETING TOOLS

1981

EMPLOYEES & AGENTS 5

4 3 2

1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes

414 LUCKY NUMBER

The house number of the first Engel & Völkers headquar ters is legendar y.

1978

1981

NAME DROPPING

GISEL A KRÜGER

EVA-MARIA HAUG

Accountant Clerk since 1989

Employee & Member of the Management Team (1983 –1997)

1986-1988

The Engel & Völkers Manual and Brand

1 9 8 6 -1 9 8 8 T H E E N G E L & V Ö L K E R S M A N U A L A N D B R A N D

“My goal has always been to establish a sophisticated system that combines standardised services with a strong brand.”

After the death of Dirk Engel, the demoralised team fell into

market. Christian Völkers refused to accept the rumoured

a slump. But Christian Völkers still believed in the company

demise of his company. Time, not baseless gossip, would

he had worked so hard to build. At a team meeting, he ex-

reveal the eventual strength of the Engel & Völkers brand.

pressed himself clearly: If they stood united they would be able to move forward. Divided, they would fail. As long as they all trusted him and his commitment to the Engel & Völkers brand, they could be confident of sharing a secure future.

Christian used his reprieve on Majorca to create and write a company philosophy that details the entire Engel & Völkers concept. The Engel & Völkers Manual is a 300-page manuscript in a binder, which is currently locked in a safe

After this meeting, Christian took refuge at his parents’ finca

at the corporate headquarters. It outlines the entire Engel &

on Majorca. The shock of his partner’s suicide had affected

Völkers system in meticulous detail and centres around the

him on many levels. Dirk Engel had been the face of Engel &

brand, the aim of which is to encourage potential clients to

Völkers. After his death, the company received many take-over

commission Engel & Völkers with the sale of their property.

offers from competitors, who claimed that without Dirk Engel

To do this, the brand must be understood by potential

the company would be powerless in the Hamburg real estate

clients as extremely trustworthy and capable of achieving

1 9 8 6 -1 9 8 8 T H E E N G E L & V Ö L K E R S M A N U A L A N D B R A N D

the highest possible sale price. Christian also empathised with the emotional intensity that accompanies the sale of one’s own home to a stranger and understood the importance

The Engel & Völkers Manual became the foundation of the company’s success, and still serves as essential study material for apprentices, and as a reference guide for all agents who

of communicating trustworthiness and financial success to

are expected to represent the company and its brand. More

an equal degree. He firmly believed that his company, by

than a binder of instructions—it contains individual tactics,

making effective use of its brand, personnel, and network of potential clients, was in an excellent position to become a

which, when linked together, form the embodiment of the Engel & Völkers concept and system.

leader in the high-end real estate market. Engel & Völkers chose to target potential sellers with its brand communication, a strategy that presented a conflict of interest when applied to attracting buyers. If the company offered sellers exclusivity in the high-price segment of the

Each section of the Engel & Völkers Manual bolsters the brand, with no detail left to fate, luck, or chance.

market, would buyers still be persuaded to use the company’s services? Christian Völkers’ view of his clients’ demands

Regardless of the location or the consultant, the sophisti-

offered a distinctive perspective on the contradictory needs of

cated branding system is conceived with one key aim in

buyers and sellers: Clients will see what they want to see.

mind: to create an identical experience for each client.

Even though Christian’s book defined techniques for promotional marketing, the company needed to ensure that the same core values were conveyed by the corporate behaviour of employees when interacting with the client. This guaranteed that both buyer and seller received the same brand message.

According to the business registry, the company was renamed at the end of the eighties: Engel & Völkers Beratungsund Vermittlungsgesellschaft für Grundvermögen mbH. Christian Völkers was listed as Managing Director. Field of activity of the company: Sale of high-quality residential pro-

This ambidexterity of purpose meant breaking down the entire

perties in the area of the Elbe suburbs and around the Alster

value chain created in the brokering of a property into many

Lake. Shortly thereafter, in the same year, the company was

individual steps, stringing the steps back together, describ-

renamed Engel & Völkers GmbH. The company established

ing them in detail, and homogenising the entire process. The

its presence by concentrating entirely on the power of the

standardised service concept, beginning with the acquisition

firm’s brand. Administrative tasks were set aside in favour of

of a property and following through to its sale, was integrat-

a focus on distribution and marketing. The youthful Engel &

ed into a wide range of advertising and marketing activities.

Völkers team, with ages ranging from twenty to forty, implemented several unusual marketing techniques that were new in Germany. They placed free-hanging signs with the company logo in front of available properties, a marketing tool that increased visibility of both the property and the brand. In Germany, the hanging signs with the realtor’s name and company logo were a novelty, even though they had been successfully used in the USA and England for years.

The typewriter used by Christian Völkers to write the Engel & Völkers Manual at the end of the 1980s.

Because of the “hanging” nature of the signs, real estate

The foreword to the Engel & Völkers Manual, written by Eva-Maria Haug. In it she describes the Manual as a set of professional guidelines for all Engel & Völkers employees.

“Galgen”, the German word for gallows. Maps were used to

According to the Engel & Völkers Manual, the telephone operators are especially impor tant because they are the first point of contac t for ever y client.

brokers jokingly referred to the Engel & Völkers signs as the locate spacious properties with large homes in good neighbourhoods. The company would consult with building authorities to determine whether construction on the vacant part of the property would be approved. If so, Engel & Völkers informed homeowners that their property’s

1 9 8 6 -1 9 8 8 T H E E N G E L & V Ö L K E R S M A N U A L A N D B R A N D

value would increase with the construction of adjacent high-end homes. With the tactical execution of such ideas,

perfectly lit reception area, and the proper technique for serving coffee.

Engel & Völkers obtained a unique set of marketing tools. Even when the company’s proposals were met with disdain, many future clients—curious about the Engel & Völkers strategy—invited brokers into their homes to learn more. Re-

The early Engel & Völkers success would not have been possible without the many apprentices working there—highly motivated, they were responsible for a diverse

presentatives soon gained a foothold in some of Hamburg’s

range of duties. On the ground floor of the office space, the

most prestigious residential neighbourhoods.

team displayed framed photographs of properties currently

Christian Völkers built his entire business on one key principle: Engel & Völkers does not sell houses; it negotiates the trade of information between buyers and sellers. The concept paid off. Engel & Völkers received numerous calls from sellers all over Hamburg, requesting the brokerage of their respective properties. Christian soon recognised that his colleagues wasted valuable time travelling long distances to properties that did not reflect the company’s

available, arranged according to architectural style. Before the age of the Internet, Engel & Völkers offered the client a comprehensive, low-tech overview of the current market. Every year, apprentices decorated the office Christmas tree— just one of their many tasks—located in the front garden. With hundreds of lights, it was the most beautiful tree in the neighbourhood—a beacon of seasonal magic that captured the imaginations of by-passers. Every day, the apprentices raised the Engel & Völkers flag, a highly visible banner in front of the villa that fluttered in the brisk wind. This subtle bit of PR virtuosity demonstrated Christian’s appreciation of his hometown’s shipping history, while paying respect to the roots of Hanseatic traditions.

exclusive image and brand. He became convinced that the success of his system depended on prioritising the niche market in the elite Elbe suburbs. He instructed everyone working at the company to turn down all other listings.

The Engel & Völkers profile grew more prominent. Sales increased at a steady pace, thanks in part to many new employees. Every room in the villa was occupied, every corner crammed with office furniture—even Dirk Engel’s former

Christian Völkers valued the physical appearance of his employees. Because they were young and looked inexperienced to their wealthier, more mature clients, Christian insisted on an official and formal appearance for each team member. Christian’s system promoted perfection through

dressing room—the size of a large closet—served as an office. The young apprentice, Christoph Kleiner, sat squeezed in this tight space, unable to move around without knocking the shins of co-workers. The company had to deal with the lack of office space, especially since Christian Völkers was

uniformity by stipulating a meticulous dress code meant to reflect the radiant confidence of the youthful brokers. Each employee served as part of the Engel & Völkers system and as an official ambassador for the brand. Christian also stressed the importance of good manners and an attentive approach to clients. He knew that first impressions count. The Engel & Völkers Manual instructs employees on the correct greeting for the client and how to make them feel comfortable. Employees must practice and memorise the Engel & Völkers Manual “door procedure”, which includes the correct way to open the door, the proper way to take the client’s coat, how to welcome a client into a

The acquisition meeting is one of the most difficult tasks in the brokerage business. Each broker will find a guide to this in the Engel & Völkers Manual. A memo by Gesine von Ehren about corporate identity. Even with the design of the signs she insists on meticulous adherence to ex ternal appearance.

His decision to turn Engel & Völkers into a large company had long been made. Just how large would only become apparent many years later.

1 9 8 6 -1 9 8 8 T H E E N G E L & V Ö L K E R S M A N U A L A N D B R A N D

taking the first steps towards founding Engel & Völkers Büro Alster GmbH. Through his work as a personal assistant, Christoph Kleiner later escaped his claustrophobic office and accompanied his boss to Majorca. After the fall of the

CHRISTOPH KLEINER

GESINE VON EHREN-ERNST

Employee (1989–1994)

Employee & Member of the Management Team (1981–2011)

“Christian Völkers has shown us all what real estate marketing is about. It is no coincidence that many people operating in the real estate industr y learned their trade at Engel & Völkers.”

“We broke with tradition— that was the most enjoyable par t of our work.”

Berlin Wall, he helped establish the East German market. The Alster office, located on Oberstrasse 138, in the chic Hamburg district of Harvestehude, opened in 1988. The office focused on a new submarket and the sale of residential properties around the Alster lake. The new employees and premises were not the only investments—modern technology

some problems but also created complicated logistical

was required to update the antiquated manual typewriters

challenges. Address lists and direct mail campaigns were dis-

and telex machines. The company worked with a freelance

patched to this office so they could be printed on one

wordprocessor specialist, but the computer was so large that

continuous roll of paper. The rolls were fetched several days

it occupied the entire cellar. Technical improvements solved

later and then sent by post—a process that took up to two weeks for an offer to find its way to a prospective buyer. Files were transferred from Oberstrasse to the Elbchaussee beforehand to prepare them for the computer specialist. Later the files were returned to the Alster office. What sounds unimaginable in 2018 was—in 1988—technologically advanced. Engel & Völkers was ahead of its time. Not content with standard software, Christian Völkers designed an Engel & Völkers program to meet his company’s specific needs. Later, the company acquired its own computers—not one computer per employee, but a few to be shared by all. Employees clam-

Christian Völkers’ first classic car, a red MGA from the 1950s. Even the founder’s car is painted in the corporate colours. The founder’s imagination never stops working. Even at dinner he of ten uses paper tablecloths or napkins for new formulas and ideas. The Engel & Völkers Elbchaussee villa in the snow. Ever y year, the traditional decorating of the Christmas tree is the responsibility of the apprentices.

bered to get a turn at one of the coveted machines. The arrival of more employees increased expenses and required more stringent training. Colleagues who had originally earned a fixed salary accepted a reduction and began working on a sales commission basis. The income of agents depended on their tenacity and talent—sending 100 exposés for a property might lead to 70 active client contacts, which

1 9 8 6 -1 9 8 8 T H E E N G E L & V Ö L K E R S M A N U A L A N D B R A N D

in turn would lead to ten viewings if the contacts were properly managed. According to Christian Völkers’ formula

ny in Germany to offer employees a comprehensive training program. The Engel & Völkers Academy, managed by

this would result in at least one closing. This was the first

Princess Bettina Wittgenstein, opened for business. The

of many formulas that Christian would put to use over the

Academy ensured that each colleague would receive a com-

years, proudly sketching them on paper napkins when meeting

plete education in the art and craft of real estate brokerage.

a new employee at a local Italian restaurant. Even though the Engel & Völkers team still considered itself Due to the heavy workload, many of the new employees felt

a large family, it gradually became clear that the firm was

overwhelmed. Weekends or family celebrations were never

evolving into a much larger entity. With the founding of the

an excuse to postpone important business decisions. A for-

Academy, knowledge that had previously been communicat-

mer assistant remembers a call that disrupted her family Christmas Eve celebration: Her boss, in spite of the holiday, urgently needed the telephone number of his tax advisor as he had a critical question he needed to ask him.

ed informally was now professionalised and streamlined. Effective staff management required a concentrated structure. The strategy followed the motto “in search of excellence”. To find excellence, the seminar leader would, in a first step, travel to all existing offices and speak with each colleague.

Christian Völkers has never been an aggressive task master, but he has always been obsessed with changing the process of marketing by implementing a strong brand.

The coach often found employees in various offices whose work methods were not time-efficient or did not benefit the company brand. Standardised rules and procedures for acquisition and consultation were developed—along with

From the beginning, he has insisted on the enthusiasm and motivation of his elite class of employees. They must understand and comply with the core values of the Engel & Völkers brand.

techniques for the closing of a sale and after-sale services. The consistent services detailed in the Engel & Völkers Manual defined corporate behaviour and became an integral part of the Engel & Völkers system itself. Each session—in a practice that still takes place several decades later—started with brand training. Over the course of several days, the significance of the brand and its proper use were explained. The topic “real estate” would be addressed later, in advanced seminars. Each session built on the previous one, and provided a wealth of information to the trainees.

Additionally, they must empathise with Christian’s initiatives and expectations. An employee must hunger for success, work around the clock, and possess an undying passion for the profession. In Christian’s mind, the logical way to create

The Academy quickly turned into an important education system; in the years to come, it strengthened the very foundation of Engel & Völkers and became one of the central profitable pillars of its success.

dedicated employees started with top-drawer training, coached by an external professional, an approach that would become commonplace decades later, but was unheard of in the eighties. Competitors observed this unusual coaching process with astonishment and distrust. Absurd rumours

The company could not evolve solely by employing young professionals. Sales of high-quality real estate could only flourish when more mature employees were added to the team. Permanent employees took a financial toll on the company,

circulated, with real estate rivals calling the company a “sect”

so existing contracts were renegotiated and converted into

and making accusations of brainwashing. But the allegations

commission-based contracts. The path to a secure financial

did not hurt the company’s image—they made it even better known. Despite all the talk, Engel & Völkers had “Grund Genug” (reason enough) to be proud of its achievements.

future for the company remained bumpy. Vicious rumours about the so-called Engel & Völkers “sect” continued to circulate, with competitors poking fun at the company philosophy. But Christian Völkers refused to be shaken—he

In 1996, Engel & Völkers became the first real estate compa-

had faith in his unparalleled training system.

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to the Office on Elbchaussee 414

OFFICES & SHOPS

LOGO

LOCATION

1978

1981

REVENUES

1.5

in mill. EUR

The house with the number 414 becomes the trademark of E&V.

MARKETING TOOLS

1. 5

1.0

0. 5

0 1978

1981

EMPLOYEES & AGENTS 5

4 3 2

1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes 6. Flag 7. Christmas Tree 8. Engel & Völkers Manual 9. Dresscode 10. Hanging Sign

LUCKY NUMBERS

MOTTO

100

IN SEARCH

EXPOSÉS

CLIENT CONTACTS

VISITS

SALE

Empirical formula used to calculate the generation of deal closures.

OF EXCELLENCE

1978

1981

NAME DROPPING

CHRISTOPH KLEINER

GESINE VON EHREN-ERNST

Employee (1989–1994)

Employee & Member of the Management Team (1981–2011)

1988 Onwards

Grund Genug (GG Magazine)

1988 O N WA R D S G RU N D G EN U G (G G M AGA ZI N E)

“GG was a ground-breaking idea in the magazine industry.”

At the age of thirty-three, Christian Völkers had been solely responsible for all entrepreneurial decisions concerning

enough for Christian Völkers. For a long time, he had been considering publishing a magazine. He pasted together a

the small brokerage house over the preceding two years. He

sample and made the rounds of Hamburg publishers, hoping

refused to change the company name following the death of

to find a partner. But no one believed in his concept. “You

Dirk Engel, an act of loyalty to his former partner and friend.

do not go to the Kentucky Derby with a donkey, dear Mr.

To this day, an oil portrait of Dirk Engel graces the office of Christian Völkers in the Hamburg headquarters.

Völkers,” he heard more than once. Christian, exhibiting his standard pluck in the face of pessimism, listened to their discouraging words without losing confidence. Christian

Christian has always been aware that his company’s sur-

Völkers had never feared a challenge.

vival depends on methods that stand out from those of his competitors. In the late eighties, with a precise marketing

In 1988, he founded his own publishing company. The

strategy that included large signs—gallows, as the team would

title of the magazine, Grund Genug—later called GG—

joke—postcards, and eye-catching exposés, Engel & Völkers

stemmed from the German advertising slogan “Engel &

created awareness through unique methods. But this wasn’t

Völkers—Grund Genug (reason enough)”, created by his

1988 O N WA R D S G RU N D G EN U G (G G M AGA ZI N E)

friend and international marketing expert Georg Domizlaff. Christian hired publishing expert Udo Burk to put together this ambitious project—a collaboration that ended up spanning twenty years. By the end of 1988, the first issue was published. This was followed by two editions in 1989, three editions in 1990, and four editions in 1991. From his own experience as a real estate broker, Christian Völkers understood that people were curious about local property markets. He was confident that a premium publication would fuel interest while serving as a valuable and effective tool for the acquisition of sales contracts.

GG would give readers a glimpse inside elegant, exceptional homes. In one of the first feature stories, readers learned about Karl Lagerfeld’s former Hamburg residence.

UDO BURK

ALBERT DARBOVEN

CEO T & B Adver tising Team

CEO J.J. Darboven

“Through consistent brand management from its earliest beginnings, Engel & Völkers has grown into a leading international company.”

“I have always interpreted Grund Genug in t wo ways— as a magazine for high-quality real estate and as a high-qualit y media outlet to feature our Idee Kaf fee cof fee.”

GG gave its audience a splash of glamour while simultane-

In the beginning, Christian had difficulty financing GG due

ously presenting other prestigious properties to their target

to a lack of advertising income—he had a large readership

readership. Sellers yearned to be included in the opulent

in mind, but not the necessary funding. Although the price,

publication, but were only accepted after signing an exclu-

DM 8.50, was displayed on the cover page, the magazine was

sivity contract with Engel & Völkers. As it was such a

primarily distributed free of charge. Attractive young women

treasured and timeless publication, readers began to collect issues of GG and display copies in their own homes, thus giving an invaluable boost to the brand’s visibility.

clad in white overalls—emblazoned with the company logo—stood at key entry points into the city of Hamburg and distributed copies of GG to drivers waiting at traffic lights. On hot summer days, they also offered free ice cream. At weekends, members of the team delivered GG to the mailboxes of potential clients in target neighbourhoods. From time to time, Christian joined the young women distributing the magazine at traffic lights, surprising drivers with his willingness to participate in the guerrilla marketing campaign—a revolutionary tactic in Hamburg at the time. A bewildered client once called the office on a Monday morn-

The first GG magazine cover from 1988. Initially, the issue was distributed free of charge in Hamburg. Engel & Völkers uses the in-house GG magazine for its own adver tising. Each broker is required to take copies to appointments and circulate them to clients. Even Christian Völkers distributed the magazines in his neighbourhood.

ing to ask if he had actually seen Christian handing out the GG magazine at the local gas station. Christian’s “leading by example” style was motivational for his employees. Distributing the magazine was easy, but Christian encountered obstacles to financing his expensive marketing tool. He

1988

1991

2004

2006

2007

1988 O N WA R D S G RU N D G EN U G (G G M AGA ZI N E)

improved the situation by finding other businesses willing to purchase advertising space. One of them, a personal friend—and the well-known manufacturer behind the “Idee Coffee” brand—Albert Darboven, was the first to come on board with an advertisement featured on GG’s back cover.

“I’ve always seen GG in two ways: as a magazine for high-quality real estate and as a high-quality outlet to feature our coffee.”

K ATRIN JÜRGENS GG Editor-in-Chief (1988 –1990)

“We were all doing pioneering work in the early days of Engel & Völkers, which has bound us together forever. We were fresh from university and wanted to get star ted. Much of what was developed in the beginning still exists today, which is nice to see.”

Other advertisers questioned the scope of GG’s influence. Even some of Christian’s trusted employees, appalled by the costs, attempted to persuade him to discontinue the venture. Christian remained undaunted. Several years later—with the assistance of the first Editor-in-Chief, Katrin Jürgens— he turned the magazine into a profitable venture. GG was relaunched in 2005, with a new Editor-in-Chief, Michaela Cordes, at the helm. Now circulated internationally, GG takes its audience on tours of exclusive, dazzling homes. Whenever GG profiles an international personality or celebrity in a beautiful home, Engel & Völkers gains a new unofficial ambassador for its brand. Each story is framed by stunning photography of an exclusive property. To this day, Michaela Cordes oversees the evolution and success of GG, now a cherished lifestyle magazine published in a total of six languages and in more than thirty countries on four continents, with a circulation of 300,000 copies per edition. After many years of dedication and investment, the publication now generates high profits and plays an integral role in each and every franchise agreement.

The Engel & Völkers spirit continued to motivate employees to work endless hours and place extra effort in the company. The workplace community buzzed with excitement and the colleagues, anxious to be a part of the Engel & Völkers success story, worked overtime to assure they would. Christian Völkers—a role model, friend, and mentor—always inspired his employees to go to the next level. With the use of a friendly “carrot and stick” technique, he set a brisk pace for those who chose to follow his considerable lead. Like many talented entrepreneurs, he sometimes had difficulty understanding why his colleagues were unable to keep up with him. When he had an original thought or idea, he would pass it along and expect the execution of his idea to be as immediate as the idea itself. His quick mind was constantly churning out new plans and his employees sometimes found it strenuous to match his fervent pace. Later in life Christian would confess that impatience has always been his greatest weakness.

Graphic from a previous GG redesign, as well as various GG developments. In one of the first home stories, GG showcased Karl Lagerfeld’s mansion. The successful Hamburg-based entrepreneur Alber t Darboven did not miss the oppor tunit y to adver tise his cof fee (“Idee Kaffee”) on the back cover of the first GG magazine.

For a short time, the publishing company moved to the offices at Oberstrasse 138. Together with the Alster office, which provided its services for residential real estate in the Alster area of Hamburg, the Oberstrasse office became home to a new branch of Engel & Völkers.

Flensburg Kiel Rostock Lübeck Hamburg Bremen/ Oldenburg Berlin

Hannover Braunschweig Münster Duisburg

Potsdam

Bielefeld

Essen

Dortmund/Bochum Wuppertal Lüdenscheid Mönchengladbach Düsseldorf Köln Aachen Bonn

Leipzig Dresden

Koblenz Frankfurt Wiesbaden Mannheim/ Ludwigshafen Saarbrücken

Heidelberg

Nürnberg

Karlsruhe Stuttgart München

Freiburg Konstanz

MÄRKTE & MENSCHEN

Ausgabe 03/13

NICHTS FÜR LAIEN Erbschaft: Ein Gespür für Probleme ist schon die halbe Miete

ZUKUNFTSTAUGLICH Balanced Office Building – energiesparend, behaglich, variabel

KARRIERESCHRITT GREM – Rüstzeug für die gestiegenen Marktanforderungen

Hoch hinaus! Der Hotelmarkt im Aufwind – Deutschland behauptet sich als Top-Performer in Europa INTERVIEW Alexander Lampert, Geschäftsführer Engel & Völkers Commercial Hamburg, zu den Herausforderungen bei der Umnutzung von Gewerbeimmobilien in Wohnraum und der Frage: Zufall statt Sorgfalt? RESEARCH Retail Opportunities Germany: Top-Einkaufsmeilen, Trends und Entwicklungen im Überblick. Aktuell zur EXPO REAL: Veröffentlichung der bundesweiten Marktberichte Wohn- und Geschäftshäuser 2013/2014 FACHBEITRAG Was charakterisiert die geeignete Immobilie? Wer finanziert sie? Wo finde ich das Objekt?

1988 O N WA R D S G RU N D G EN U G (G G M AGA ZI N E)

ALEX ANDER L AMPERT

GEORG DOMIZL AFF

Shareholder & Commercial Licence Par tner Hamburg At E&V since 1993

Creative mind behind the slogan “Grund Genug”

“My motto for the job at Engel & Völkers has always been: ‘Do not tell me how it won’t work, tell me how it will.’”

“Christian Völkers has never been an outstanding real estate broker. His genius lies in his talent for outstanding marketing.”

With his good friend Daniel Crasemann, Christian Völkers

mann would handle commercial and investment properties.

founded the Engel & Völkers Gewerbe Immobilien GmbH,

Daniel and Christian were equal partners in the company, a

a company for commercial real estate. In 1987, Daniel

collaboration that contributed to their friendship.

Crasemann was still an investment banker at Berenberg, Germany’s oldest private bank. Discontent with his career,

Their first business deal proceeded smoothly. Christian

he longed to leave the bank and work for himself. When

Völkers knew that Albert Büll, a developer in Hamburg, had

Christian suggested the idea of working together, he was

a strong interest in converting the Blankenese train station

enthusiastic. Daniel had always been interested in the real

into commercial office space and shops. Daniel Crasemann

estate business. With his investment banking background, he

had contact with an owner who wanted to sell a building

quickly absorbed the ins and outs of brokerage and agreed to

complex in the same location. They closed the deal—the

partner with his friend. Christian would be responsible for residential real estate, while Daniel Crase-

sale brought in a commission of almost DM 60,000 for the partners, as well as confirming that the Engel & Völkers Commercial division would be profitable. Christian Völkers systematically reviewed every action, planned his projects, and enforced ideas with an eye for detail. He believed in building wealth through the success of a global enterprise. For him, capital offered a means for his end goal. Profits were reinvested to build the brand, grow the business, and to shape the success of GG.

The world of Engel & Völkers Commercial: In 1988, the business unit was founded under the name “Engel & Völkers Gewerbe Immobilien GmbH”. The Managing Directors were Richard Winter, Diana Wojahn, David Kenney, and Alexander Lamper t (from lef t to right). Below right: Daniel Crasemann, Par tner of Engel & Völkers Gewerbe Immobilien GmbH.

An incredible growth phase commenced during the late eighties. More employees were hired, pushing the company to its financial limits. Daniel Crasemann, not deterred by monetary issues, stood alongside Christian Völkers as a loyal partner and friend. Together they would take many steps towards financial security. But first, change was in the air.

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to the Office on Elbchaussee 414

LOCATION

1988 Founding of the GG Publishing House

SUCCESS STORY

Sugar

Bread

Whip

MOTTO

LEADING

The headquar ters is bursting at the seams, and even storage cupboards are used as workstations. Time for the first expansion.

LOGOS

EXAMPLE MARKETING TOOLS

OFFICES & SHOPS

1978

1981

1984

in mill. EUR

REVENUES

2.5

2.1

2.0

1.5 1.5

1.0

0.5

0 1978

1981

1984

EMPLOYEES & AGENTS 12

10 10

4 4

1 1978

1981

1988 LUCKY NUMBER

The year 1988 is the inaugural year of “Grung Genug” (GG). 20 years later, the marketing tool has evolved from a real estate catalogue into a globally unique proper ty magazine.

1984

NAME DROPPING

ALEX ANDER L AMPERT

K ATRIN JÜRGENS

Shareholder & Commercial Licence Par tner Hamburg At E&V since 1993

GG Editor-in-Chief (1988 –1990)

···20ltd···3XN Architekten···Adam Lindemann···Aerin Lauder···Ai Weiw Flamant···Alex Thomson···Alfredo Häberli···Alix Goldsmith···Amanda Putman···Andrés Gallardo & Marina Casal···Angelina Jolie···Anine Bevilacqua···Antonio de Matteis, Kiton···Assouline···Axel Vervoordt Benjamín Calleja Westling···Bjarke Ingels, BIG···BMW Group···Bob Ratner···Brigitte Bardot···Brioni···Bulgari···Camila Alves···Candid Caroline Stadler···Caroline Zapf···Carsten Schulze···Catherine Mal Chaumet···Christian de Portzamparc···Christian Heymes···Christian toph Schenck···Christy Turlington···Cindy Sherman···Clemens Rame Coorengel & Calvagrac···Cornelia Guest···Cristían Boza···Damien H Libeskind···David Bromley···David Netto···David Tang···David Wolkows Valle···Dolce & Gabbana···Donald Robertson···Duravit···Duri Joos···Dyl Hotel···Edouard Vermeulen···Eduardo Souto de Moura···Eleni Gianopulo Erik & Sabine Morvan···Ernesto Bertarelli···Established & Sons···Eva Botero···Fondation Louis Vuitton···Fondation Maeght···Francesca Ve Stüve, Villa Harteneck···Fromental···George R. R.Martin···Gerber Ar Perini Navi···Gian Franco Brignone···Gilles & Boissier···Gio Pont Hästens···Heidi Maria Schwarck···Hélène Feltin···Hella Jongerius···Hemm Hilary Swank···Hiro Yamagata···Hugo Boss···Ian Schrager···India Hicks cia···Jacques Grange···Jakob + Macfarlane···James List···Jan & Moniq Prouvé···Jeff Koons···Jeffrey Katzenberg···Jehanne de Biolley···Jele Lautner···Jorge Penadés···José Gandía···José Selgas & Lucía Cano··· Jürgen Mayer H.···Karim Rashid···Kartell···Kate Beckinsale···Kate H Barker···Kelly Killoren Bensimon···Kelly Rutherford···Kelly Wearstle Kilian···Kip Forbes···Kyoichi Tsuzuki···L’Oréal···La Clinica Design· Piedayesh···Li Edelkoort···Lina Kanafani···Lisa Perry···Lord March·· van der Rohe···Lufthansa Technik···Lumas···Maarten Baas···Makoto Yok Kogan···Marco Palmieri, Piquadro···Marie-Chantal von Griechenland· Moretti Polegato···Marre Moerel···Matteo Thun···Meissen···Melinda Gat Michaela de Pury···Michele Bönan···Michele De Lucchi···Mitch Alfus Mandela Peace Parks···Neutelings Riedijk···Niche Beauty···Nigella Laws Oscar Niemeyer···Pamela Skaist-Levy, Juicy Couture···Pascal Euvr Perrin···Paul Cocksedge···Paul Thalmann···Peggy Guggenheim···Penél Briand···Philippe Hurel···Piaget···Pierre Cardin···Pierre Keller, Eca Renee Rockefeller···Renzo Piano···Richard Meier···Richard Mille···R Lauder···Rossella Bisazza···Salvatore Ferragamo···Samantha Board Building···Search···Sebastian Herkner···Sergio Loro Piana···Serpent Rocco Forte···Snøhetta···Soho House···Stefan Diez···Stephan Landwehr· Sylvie Fleury···Tadao Ando···Tamara Beckwith···Tamara Comolli···Ta Cultivist···The Ministry of Art, Cordelia Steiner & Christoph Noe··· Thomas Schoos···Thonet···Tiffany & Co.···Timothy Greenfield-Sanders· Hays···Vacheron Constantin···Valentino···Valesca Guerrand Hermès···Co Egelund···Count Marcus & Countess Annabelle von Oeynhausen-Siersto Joop, Wunderkind···Wolfgang Ludes···Yugo Yagi···Zadig & Voltaire···Za

THE FIRST ISSUE AF TER THE REL AUNCH

Gorgeous, Glossy, GG

The April 2016 issue of GG, featuring a cover stor y about former model and author Kelly Killoren Bensimon. Michaela Cordes, Editor-in-Chief of GG Magazine since 2005.

The cover of GG celebrates people—we select internationally known personalities, with big names. That was my original vision when I first visited the GG editorial board back in October 2005. At the time, no one at the magazine was thinking about generating in-house GG editorial features, and my vision of turning Germany's best-known real estate publication into a respected international lifestyle magazine seemed little more than a dream. Christian Völkers and I had been friends for many years when he invited me to lunch at his finca on Majorca in the summer of 2005. He explained to me that he needed a new vision for his client magazine, GG. He knew his German franchise company would become more and more international, and that GG needed a more global approach. This happened at the time the German publishing world had just discovered a new target group. Condé Nast had invested in the publication of a German edition of the US magazine Vanity Fair. They made a big splash, but after experiencing high losses over the course of several months, it disappeared

People, Passion, Places - Some of GG’s Editorial Highlights

LEONARDO FERR AGAMO, ISSUE 2/09

ANDRÉ BAL A ZS, ISSUE 2/10

FERNANDO BOTERO, ISSUE 2/11

RONALD L AUDER, ISSUE 4/11

AMBR A MEDDA, ISSUE 4/09

FR ANK O. GEHRY, ISSUE 3/07

TORY BURCH, ISSUE 3/10

CHRISTIAN LIAIGRE, ISSUE 4/11

16 different editions of each GG Magazine are published each quarter.

GG GERMANY

GG LOCAL HAMBURG

GG LOCAL FR ANKFURT

GG LOCAL BERLIN

GG LOCAL MUNICH/KITZBÜHEL

GG SWITZERL AND

GG SPAIN

GG LOCAL BARCELONA

GG LOCAL MADRID

GG LOCAL ROME

GG LOCAL PARIS

GG LOCAL HONG KONG

GG FR ANCE

GG USA

GG ITALY

GG BENELUX

from the market. The German publisher, Gruner & Jahr, had experienced some success by focusing on superior journalism in their excellent monthly magazine, Park Avenue, which unfortunately is also long gone. “I would go in that direction!” I advised Christian Völkers after we had finished our late lunch. As we watched the sun go down from the terrace, I said, "Interesting, glamorous personalities, interviews about architecture, design, interior decorating, and special travel. Glossy yes, but with a relaxed, journalistic excellence. Your GG readers are the E&V clientele. They are interested in real estate, but also in the elegant lifestyle that accompanies the acquisition of beautiful property.” Unaware that this conversation would one day lead to my appointment as Editor-in-Chief, we continued to brainstorm. Some of the things we discussed eventually ended up in my contract. What a wonderful task—encouraging people to follow their dreams. I sought reinforcement for the new GG team. I needed someone who could capture my artistic vision with photography and design, someone who spoke an elegant but modern and aesthetic language. Janine Weitenauer was perfect! For eleven years she has been GG’s Creative Director. Like me, Janine had lived in the USA. Like me, she was fascinated and influenced by the light but sophisticated nature of American magazines. Like me, she thought BIG. So big that some people at Engel & Völkers thought that we were a little crazy! Maybe they still do. Our first cover featured a laughing Valesca Hermès in a Marrakech palace. Valesca posed casually with a very high slit in her evening dress, framed by two girlfriends. We believed

The 2016 GG cover stor y featuring Katharina Harf, the daughter of DKMS founder Peter Harf. GG publishes six teen variations of the magazine in six languages ever y quar ter; nine of these are Local Editions.

A Smooth Transition to the Property Section

The 2/10 issue saw GG present its first “For Sale Homestor y,” featuring Diandra Douglas and her California proper ty. Struc tured like an editorial feature, the "For Sale Homestor y" flows seamlessly into the magazine’s real estate sec tion.

Lifestyle, People, Real Estate - T

he Finest Properties Worldwide

BALL AST KEY, FLORIDA, USA – GG ISSUE 3/13

VILL A VALS IN VALS, SWITZERL AND – GG ISSUE 3/16

CASTLE OLSENE, OLSENE, BELGIUM – GG ISSUE 4/17

ELBPHILHARMONIE APARTMENTS, HAMBURG, GERMANY – GG ISSUE 2/15

THE FLOATING SE AHORSE, DUBAI, UAE – GG ISSUE 1/17

PARK CIT Y, USA – GG ISSUE 4/15

HALSTON HOUSE, NEW YORK, USA – GG ISSUE 2/15

VARESE, ITALY – GG ISSUE 1/12

MADRID, SPAIN – GG ISSUE 3/15

PRINCE, MARBELL A, SPAIN – GG ISSUE 4/16

THOMAS GOT TSCHALK, BAD NEUENAHR-AHRWEILER, GERMANY – GG ISSUE 4/11

that GG must convey fun, bring joy, and still present interesting topics. In the spring of 2006, with racing hearts, we showed our mock-up copy to Christian Völkers. We were confident in our concept but not at all sure how Christian would feel. He flipped through the magazine. I’ll never forget the moment— he jumped up, took off his suit jacket, loosened the tie and said: “That's a real magazine!”. Indeed. Today GG is a unique magazine and serves a distinctive two-part readership! As creators of the magazine we must make sure our target groups— the readers and the licence partners—stay happy at all times. We accomplish this by always taking their concerns and interests seriously whenever we make any editorial decisions. What does Christian Völkers say? We must always find a balance! Due to the fresh look of the editorial pages, the real estate listings and Engel & Völkers exposés needed to change to suit the new layout of the magazine. Every little change at GG therefore brought consequences felt throughout the Engel & Völkers network. Over the years we began using “advertorials”—real estate ads that merged with lifestyle photos and articles. We also used the “For Sale Homestory”. When we ran a special real estate story about the estate of Diandra Douglas, ex-wife of Michael Douglas, we came up with the idea to make an exceptional real estate listing resemble a lifestyle feature. At the end of the article the real estate

Engel & Völkers of ten brokers the homes of international celebrities, for example the former Marbella proper ty of global pop icon Prince, or television presenter Thomas Gottschalk’s castle home in Germany.

consultant’s contact information was listed, along with the respective Engel & Völkers office. The international licence partners of Engel & Völkers became a kind of network of correspondents for GG. In 2013, the office in Bad Neuenahr-Ahrweiler, Germany, approached

GREENHOUSE, AMSTERDAM, THE NETHERL ANDS – GG ISSUE 4/12

Advertorials

The adver torial showcases a home on a double-page spread. The supplemented lifestyle image encourages readers to relate more direc tly with the proper ty.

Classic Ads

The classic ads in GG feature one proper ty on each page, depic ted with up to six photographs.

Eight Facts Reflecting the Success of GG!

N PA

C TS

Ö &V

2 1

1 017-528 8888

017-528

8888

7 7

HOTEL POLO SCHOOL

2 5

BUSINESS Corp.

6 4

Christian Völkers launched GG Magazine in 1988 with a view to proac tively acquiring and selling real estate. GG now represents one of the most impor tant brand components for the company as it showcases the emotional world of Engel & Völkers. GG features personalities with whom readers can identif y. The protagonists who star on the front covers indirectly become valuable brand ambassadors for Engel & Völkers. GG of fers an ex tremely at trac tive contex t for sellers. The secret to this appeal lies in the clever way potential buyers are taken on a

journey through stunning imager y before being subtly transpor ted from the editorial sec tion to the proper t y ad sec tion.

A reader sur vey found that GG is read above all by sophisticated women and men who like to consume premium produc ts, enjoy spor t, and are involved in social projec ts alongside their professional careers.

The possible ways to showcase a proper t y are as diverse as the editorial por tfolio: As a “For Sale Homestor y”, an adver torial (an emotionally charged ad), or as a one-page classic proper t y ad.

More than 10,000 real estate agents make sure that 300,000 magazines reach top clients in six languages and across four continents worldwide.

GG is placed in hotels and restaurants, distributed at events and in top shops, introduced at ever y meeting, and carefully positioned in the trunk window of cars.

GG is the most valuable tool for acquiring potential sellers and inspiring buyers all around the world. GG makes Engel & Völkers unique in the real estate market: They present the whole world in one magazine.

us because Thomas Gottschalk, a German television celebrity,

GG Magazine is also available online as an eMagazine and on its own website. Editorial features and the “For Sale Homestor ys” are supplemented with additional images.

wanted to market Marienfels—his castle near Remagen on the River Rhine—with an exclusive listing in GG Magazine. We’ll also never forget the cover story with legendary yacht designer Luca Bassani, who posed barefoot in a tuxedo on board an iconic Wally Tender. GG photographer Mark

The 3/18 issue of GG —featuring the theme “Made In Germany”— celebrates the for tieth anniversar y of Engel & Völkers.

Seelen grabbed the shot by chasing Bassani in a helicopter over the Mediterranean. Without the invaluable help of the Engel & Völkers office in St. Moritz, we never would have gotten this extraordinary photo opportunity. When I took over GG in 2005, the reader base was 80,000 copies and the magazine appeared in two languages (English and German). We had five employees. The high-profile people we contacted did not necessarily feel motivated to appear in an Engel & Völkers catalogue, even if it was in magazine form. For this reason, we took the E&V logo off the cover. Today, twenty-six people work on each issue of GG. Our circulation is close to 300,000 and GG is published in thirty-four countries, in six languages, in addition to local GG issues in eight cities (Barcelona, Madrid, Rome, Paris/ Cote d’Azur, Hamburg, Berlin, Frankfurt and Munich/Kitzbühel). Over the past twelve years we have featured many

Kissinger, Kip Forbes, Tory Burch, Lord March, Ambra

FALKE

A Unique Family Business that Conquered the World with Socks & Hosiery

and Frank O. Gehry. Today we proudly carry the slogan

LÜRSSEN

Discretion is the Golden Rule: Elegant Superyachts Built in Bremen

What joy it brings me to know that readers, licence partners, love introducing our wide audience to remarkable personscenes glimpse of the world’s most beautiful real estate.

continue to evolve for a long time to come.

PORSCHE

The Iconic Fountain Pen and its Amazing History – A Factory Visit

40th Anniversary: A Rare Interview with the Founder and CEO of Engel & Völkers

SPAIN 6.80 EUR

The pages of the magazine keep turning— and GG will

VÖ LK ER S

CHRISTIAN VÖLKERS THE FINEST REAL ESTATE WORLDWIDE

alities, and—above all—providing an insightful, behind-the-

OF EN GE L&

How a Mechanic from Stuttgart put Sex Appeal on Four Wheels

MONTBLANC CHRISTIAN VÖLKERS

and agents read and appreciate our interesting articles. We

40 YE AR S

PORSCHE

Yes—it’s true: It’s wonderful to be Editor-in-Chief of GG.

MONTBLANC

"Powered by Engel & Völkers" on the front cover!

’18

LIFESTYLE • PERSONALITIES • REAL ESTATE LÜRSSEN

Medda, Richard Meier, Kilian Hennessy, Benedikt Taschen,

June July August

FALKE

Ronald Lauder, Christian Liaigre, Kelly Rutherford, Henry

GG 3/18

well-known personalities from around the globe, including

Made in Germany SOLID CRAFTSMANSHIP & TRADITION – THE SECRETS OF GERMAN QUALITY

wei···Alberta Ferretti···Alberto Mascioni···Alejandro Aravena···Alex a Hearst···Ambra Medda···André Balazs···Andrea Morgante···Andreé Bing···Annabelle Selldorf···Anndra Neen···Anouska Hempel···Antonio t···Balthus···Baruc Corazón···Benedikt Taschen···Benicio del Toro··· Geldof···Bobby Dekeyser···Boris Radczun···Bottega Veneta···Brett da Höfer···Count Carl-Eduard von Bismarck···Carlo Maria Maggia··· landrino···Celerie Kemble···Charlotte Dellal, Charlotte Olympia··· n Liaigre···Christian Louboutin···Christoph Fisser···Baron Chriseckers & Arnold van Geuns···CMA···Cookies & Stephan Hentschel··· Hirst, Other Criteria···Dana Schweiger···Daniel Chadwick···Daniel sky···DEDON···Dee Ocleppo···Derek Lam···Diandra Douglas···Diego Della lan Lauren···E.1027, Eileen Gray···Ed Dubois···Ed Sheeran···Eden Rock os···Elettra Wiedemann···Elie Tahari···Enrico Gobbi···Eric R. Kuhne··· & Sonu Shivdasani···Eva Lorenzotti···Faye Toogood···Fendi···Fernando ersace···Francesco da Mosto···Frank Nuovo···Frank O. Gehry···Frank rchitekten···Giampaolo & Emanuele Benedini···Giancarlo Ragnetti, ti···Graft···Guillaume Plisson···Harald Belker···Harry & Camila··· merle···Henry Kissinger···Hermès···Herr von Eden···Herzog & de Meuron··· s···J. Paul Getty···Jacqueline von Hammerstein-Loxten···Jacques Garque des Bouvrie···Jason Statham···Javier Bardem···Jean Nouvel···Jean ena Baturina, Be Open···Jeremy Wintrebert···Joana Schliemann···John ·Josef Voelk···Josh Ostrovsky···JR···Juan Ramón···Juliet Hartford··· Hume···Katharina Harf, DKMS···Kathleen King von Alvensleben···Katy er···Kengo Kuma···Kenzo Takada···Kiki van Eijk···Kilian Hennessy, by ···Larissa Fry···Larusmiani···Lee Broom···Leonardo DiCaprio···Leyla ··Loro Piana···Luca Bassani···Lucas Mol & Sanne Oomen···Ludwig Mies komizo···Maltese Falcon···Manon von Gerkan···Marcel Eichner···Marcio ···Marie-Louise van Overdijk···Marina Reuss···Mario da Como···Mario tes···Michael Chow···Michael Fuchs···Michael J. Fox···Michael Mauer··· us···Moncler···Nacho Figueras···Nadja Swarovski···Nay Palad···Nelson wson···Nymphenburg···Oetker Collection···Oki Sato···Ólafur Elíasson··· rard···Patek Philippe···Patricia Urquiola···Patrick Blanc···Patrick élope Cruz···Peter Lürßen···Peter Zumthor···Phillip Lim···Philippe al···Piet Boon···Porsche···Prince···Quách Thaí Công···Rémi Tessier··· Richard Neutra···Rieko Kawabe···Robert Stern···Rolls-Royce···Ronald dman···SANAA···Santiago Calatrava···Scholten & Baijings···Seagram tine Galleries···Sieger Design···Sig Bergamin···Simon de Pury···Sir ···Stephen Burks···Stuart Rattle···Studio Job···Suzanne Saperstein··· amara Mellon···Tatiana von Gecmen Waldeck···TESLA, Elon Musk···The ·Thea & Thomas Gottschalk···THG···Thierry Despont···Thierry Stern··· s···Tod’s···Tom Binns···Tommy Hilfiger···Tory Burch···Toyo Ito···Tyler ountess Vanessa von Bismarck···Villa Tugendhat···VIPP, Kasper & Jette orpff···Wang Shu···Wellendorff···Wempe···Werner Aisslinger···Wolfgang aha Hadid···Zeitz Museum of Contemporary Art Africa···Zhang Ziyi···

1989 Onwards

The Engel & Völkers Pioneering Spirit

1989 O N WA R D S TH E EN G EL & VÖ LKER S PI O N EER I N G S PI R IT

“Not achieving a goal I set myself has never been an option for me.”

The original office in the villa on the Elbchaussee was still occupied by real estate agents and used for events, but the

cancelled or interrupted to accommodate work commitments. Employees found themselves negotiating contracts

office on Oberstrasse—even though it was only two years old—

while waiting in line at the ski lift. Christian Völkers lost

was already overcrowded. The tight conditions at Oberstrasse

all track of time. His private life suffered as a result, but his

necessitated a move to a spacious, modern office building in

professional life grew more and more thrilling. Obsessed by

the elegant and upmarket district of Harvestehude, with room

the growth of his company, he hated to waste time with such

for more than eighty employees. The agents, the GG publish-

matters as eating and sleeping.

ing company, and the administrative department took up residence on four floors on Hamburg’s Mittelweg. Despite their

Inspired by Christian’s exuberance, the team became more

enthusiasm, most employees—often working seven days a

dynamic. An aura of positive energy enveloped the company.

week, twenty-four hours a day—found the workload stifling.

Christian Völkers’ extreme work ethic was not a secret, and

Still, success triggered motivation and the employees carried

many people marvelled at the optimism and enthusiasm of

on. Personal hardships prevailed—some marriages fell apart.

his employees. Christian Völkers expected hard work from

Holidays—a treasured part of German life—were often

his employees, but he treated them with respect and offered

1989 O N WA R D S TH E EN G EL & VÖ LKER S PI O N EER I N G S PI R IT

each colleague proud to be part of his company. In the beginning, some people may have laughed about the wild young employees, but many envied their joyous lifestyle. The colleagues were all part of a devoted and trustworthy family. More importantly, they trusted the Engel & Völkers core values of loyalty and mutual success.

“My employees do not work for a local real estate agency,” says Christian Völkers as he recalls this spirit of unity.“They work for Engel & Völkers.” Engel & Völkers ran weekly advertisements in the local sections of newspapers, an area of expertise where Christian clearly displayed his love of detail. Endless discussion took place about the look of the ads, with trouble resulting when a logo was missing or a red line fell in the wrong spot. them amazing experiences in return for their long hours and

Throughout his career, Christian has preached tirelessly that

allegiance to the company. Christian threw lavish parties for

the success of brand communication depends on perfect,

his workers that garnered rave reviews, and the festivities

consistent application in all advertisements. Christian’s

were often the source of local gossip and praise. Who would ever forget his event on the North Sea island of Sylt!

competitors were not exactly sleeping on the job—ads from other brokers began appearing in venerable publications like the German Sunday newspaper “Welt am Sonntag”. Christian

Christian invited his colleagues to a beach restaurant on the exclusive island, a holiday haven for many well-heeled Hamburg citizens. When the party was in full swing—at one in the morning—the owner of the restaurant announced that the electricity had been cut off and the celebration would come to an end. The deflated crowd left the venue and stumbled

dreaded the high cost of full-page advertising but saw it as a necessary investment. His risk paid off—the ads attracted attention. The modern German television channel, n-tv, featured a segment about Engel & Völkers. Called “Brokers en Vogue”, the broadcast highlighted the company, known for its trade in exclusive properties, even though the

through the sand dunes into the inky night. Suddenly, the deafening shriek of seagulls startled the guests. A full-size house, illuminated by neon red lights, flashed on the horizon. The Engel & Völkers logo appeared like a mirage in the distance, painting the sky with the dreams of its founder. Huge loudspeakers surrounded the house, amplifying the screech of the gulls and the pulse of the music as Christian’s valued colleagues danced through until dawn. This larger-than-life partying became a tradition for the company. For many years, Christian has planned events that show his heartfelt appreciation to his hard-working team. Staging—an important component in his marketing of real estate—has always been near and dear to his heart. The generous celebrations have made

The Engel & Völkers team event on Sylt, where Christian Völkers surprised his guests on the beach with a towering light installation in the form of the Engel & Völkers logo. An early ad template and published ad in a daily newspaper. Christian Völkers carefully scrutinises the proof for an Engel & Völkers adver tisement. Employees of ten receive handwritten correc tions if the ad does not meet the required specifications.

1989 O N WA R D S TH E EN G EL & VÖ LKER S PI O N EER I N G S PI R IT

The changes in 1990 dictated the opening of a new office in Berlin, the future capital of reunified Germany. Daniel Crasemann and Christian Völkers, together with their mutual friend and lawyer Ernst-Moritz Krossa, opened a branch office in Berlin (“Gesellschaft für das Wohnbüro”). He was duly appointed as manager of the new office.

ERNST-MORITZ KROSSA

R ACKHAM F. SCHRÖDER

Shareholder Berlin (1987–1997)

Licence Par tner Berlin since 2006

“Marketing was always his hobby of passion.”

“My motivation: Either love it, leave it or change it. I stayed.”

With the assistance of his young team, Christian Völkers had begun a new era of growth—he had reshaped and changed the fossilised world of Hamburg real estate brokerage. When the company closed on a sale that brought in almost 2 million deutschmarks in profit, the company achieved the recognition for which it had strived. It was now time to turn the attention to the national expansion of the Engel & Völkers network, first with the opening of an office in the German state of Schleswig-Holstein, followed by the introduction of offices in Munich, Tegernsee and in Dusseldorf.

brokerage of less spectacular homes was partially responsible for the health and welfare of the company. 1989 was a time

Expansion into East Germany did not take long. Even before

of change—not just for the rapidly growing company, but for

the Berlin Wall had fallen, Christian Völkers had expressed

all of Germany. In November, the wall between the Federal

an interest in this region. When it became accessible, he sent

Republic of Germany and the German Democratic Republic (GDR) fell. On 3 October 1990, German unity marked an end to four decades of German division resulting from World War II and the Cold War. At the same time the “Treuhandanstalt” was established in the reunified Federal Republic. Its task was to oversee the privatisation of state-owned enterprises and real estate in the federal states of the former East Germany.

two employees to capture their visual impressions on film. After five days, the two returned with negative reports: “Dresden and Leipzig were simply unreasonable,” recalls John Jahr, who had photographed much of the rubble-strewn east. This was unwelcome information, but Christian Völkers was not unsettled by the obstacles encountered by his scouts. Daniel Crasemann made contact with a Hamburg law firm that represented Jewish restitution claims for the Jewish

The euphoria during the first years following reunification triggered a rush to invest in the East. In the eyes of many entrepreneurs, the territory seemed like a goldmine.

A massive expansion began at Engel & Völkers. New employees were selected according to a precise personality profile. Only those with a passion for the profession and a completed business training were considered for positions. The company selected employees who conveyed competence. At Engel & Völkers, employees had access to marketing tools that were still unknown elsewhere. The first priority was the brand itself—the employees were supported by effective tools like the hanging “gallows” signs, postcards, matchboxes with logos, and the glossy GG magazine.

Photos of employee events over the last 30 years, including the glamorous “Dance of the Vampires” ball held at Castle Bückeburg in 1995, as well as impressions from the annual polo tournament on Majorca. A telegram from East Germany: GG issue 1991/3. The telegram picks up on legal matters that need to be taken into account when brokering real estate in the East.

1989 O N WA R D S TH E EN G EL & VÖ LKER S PI O N EER I N G S PI R IT

In the early nineties, conser vative banker Alexander Lamper t arrived at Engel & Völkers with motivation and enthusiasm. He helped establish the Commercial division of the company along with Daniel Crasemann, who had also previously worked as a banker.

an exciting city waiting to be rediscovered. In the summer of 1993, Alexander Lampert and Daniel Crasemann founded a Commercial division in Berlin, which soon became—and still is—the most lucrative Engel & Völkers Commercial location in Germany. The former trainees, Christoph Kleiner and John Jahr, were also present. In 2000, Alexander Lampert

Claims Conference. He learned that if the rightful owners of real estate confiscated during the dictatorship of the Third Reich expressed no interest in the return of the property, the residences in question could be put up for sale. One of the first employees to leave for East Germany was Alexander Lampert, who today serves as a co-partner in the company. Like Daniel Crasemann, who had also come from Berenberg Bank, Alexander possessed little knowledge of the real estate business. He recalls: “When I told my friends that

sold his shares to Nicolas Jeissing and Rackham Schröder, who manage the Commercial division in Berlin. Alexander Lampert returned to Hamburg where he was appointed as a member of the company’s management board. New locations opened in Leipzig and Dresden. Due to a lack of good infrastructure and services, the conditions in the east were barren and a hardship for employees. Felix von Saucken emerged as a much-valued and talented trainee with a great deal of leadership potential.

I was leaving my secure job at the bank to start working for a fraction of what I had previously earned, everyone told me I was crazy.” Alexander was lured by the chance to excel in a new profession. Many colleagues followed him to Berlin,

100

“Learning by doing” became part of the education at Engel & Völkers. In many cases, the one-year trainee program was abbreviated. A “trial by fire” training strategy was estab-

1989 O N WA R D S TH E EN G EL & VÖ LKER S PI O N EER I N G S PI R IT

NICOL AS JEISSING

JOHN JAHR

HENDRIK DE WA AL

COUNT BENEDIKT VON DÜRCKHEIM

Commercial LiPa Berlin At E&V since 1994

Employee (1988 –1994)

Par tner of DWI Group

Managing Direc tor Chemnitz & Special Envoy for Saxony Proper t y Trusts (1994 –1997)

“I really wanted to be a par t of the Engel & Völkers adventure.”

“He was an early visionar y and pioneer in many things, such as employee training and marketing. He has gone to considerable expense and taken high risks to achieve his ambitious goals.”

“Grille has been a ver y close friend since we star ted school together. His emotional decisions and his compulsion for perfec t design unite us. I have come to know him as an excellent and reliable par tner in good and in bad times.”

“He has managed to attrac t people to his company who speak the same language. This has a lot to do with experience, people skills, and aesthetics.”

lished, where employees were expected to earn their salaries

Communist partners, often led to favourable results.

while they learned through hands-on experience with notaries, lawyers, and sales and rental agreements.

In 1991, determined to exploit a further potential asset in the real estate market, Christian Völkers and Daniel Crase-

In spite of adverse conditions, the former GDR attracted many new real estate advisors. Most available properties were located in the commercial sector, while the elegant, residential

mann joined forces with their Hamburg friend Hendrik de Waal, and founded the property development company DWI Grundbesitz GmbH. Engel & Völkers brokered unrestored

properties for which Engel & Völkers had earned its repu-

residential properties to the DWI Group. Subsequently, the

tation remained run down and uninhabitable. One of these

company refurbished these residences and assigned Engel &

famous homes—Villa Esche in the Chemnitz area, designed

Völkers as their sales and marketing representative—a lucra-

in 1902-03 by Henry van de Velde for Herbert Esche, the

tive business venture for all parties involved.

owner of a local sock factory—was offered to the local Engel & Völkers office manager, Count Benedikt von Dürckheim, for renovation. Restored to its former glory during the Communist era, citizens thought of the villa as a masterpiece of turn-of-the century modernism and a European landmark. To attract potential buyers to the glorious mansion, Count von

During the period of economic explosion in the east, Christian and some friends from Hamburg spent the summer on Majorca. Rather than relaxing and enjoying the sun, he drove around the island, caught up in yet another real estate fantasy. On the west side of the island, lush and barely in-

Dürckheim invited the most important residents of the city

habited, he dreamed of finding his own finca. His aim was to

and municipality to a grand reception. The next day, the tab-

combine the beauty of the island with prospective business.

loid press headline read: “Count Saves Villa Esche”, an acci-

He was very familiar with the island and knew that he could

dental public relations consequence of the party. The owner

help German clients find properties there.

of the villa, not amused, decided not to sell. Even so, Engel & Völkers benefitted from the public relations and the headline.

In 1990 Christian launched a new Engel & Völkers office in

Enquiries came from remote towns in East Germany, request-

Palma, his first abroad. The opening of the Majorca office

ing assistance with the sale of other villas—most in dire need of restoration. Tenacious negotiation efforts, conducted with

was another small step for Christian’s personal development, but a confident leap into the future for Engel & Völkers.

101

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to the Office on Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

LOCATION

The growing number of employees leads to the opening of a second office on the Alster lake to complement the existing premises on Elbchaussee.

MOTTO

MARKETING TOOLS

LEARNING

BY DOING

OFFICES & SHOPS

LOGOS

2 2

1978

1981

1984

1987

in mill. EUR

REVENUES

2.8

3.0

2.1 2.0

1.5

1.0

NAME DROPPING

0 1978

1981

1984

1987

EMPLOYEES & AGENTS 45 40

NICOL AS JEISSING

Commercial LiPa Berlin At E&V since 1994

25 20

15 10 5

1 1978

4 1981

1984

1987

LUCKY NUMBER

24/7 From morning through to night, Mondays through to Sundays, that is the working week for each and ever y employee at the Hamburg headquar ters.

ERNST-MORITZ KROSSA

R ACKHAM F. SCHRÖDER

Shareholder Berlin (1987–1997)

Licence Par tner Berlin since 2006

JOHN JAHR

COUNT BENEDIKT VON DÜRCKHEIM

Employee (1988 –1994)

Managing Direc tor Chemnitz & Special Envoy for Saxony Proper t y Trusts (1994 –1997)

1989 Onwards

From Ruins to Manor House: An Adventure on Majorca

1989 O N WA R D S FRO M RU I N S TO M A N O R H O US E: A N A DV ENT U R E O N M A J O RC A

“My finca offers me the chance to continuously improve and shape its design.”

Alongside Hamburg, Majorca has always been an important

surprised him with the property of his dreams. Cecilia man-

anchor in Christian Völkers’ life. As a child, he had spent hol-

aged to keep the destination a secret. Finally, after travelling

idays with his parents on the Spanish island. He felt at home

endlessly along rocky roads, they arrived in the Tramuntana

there, and the time was right for him to begin searching for

Mountains, a region of breathtaking beauty. Two decades

his own residence. Most of the old, elegant fincas were inland

later, in June 2011, UNESCO would declare the "Serra de

rather than anywhere close to the coast. Five hundred years

Tramuntana" a World Heritage Site, but on that warm day

earlier, wealthy families living in Palma had preferred to weekend or spend their vacations in the cooler temperatures that tend to be found in the mountains.

in 1989, it was unchartered territory. Finally, Cecilia and Christian turned off the main road and began traveling on a bumpy dirt lane that coiled down a steep slope. After one last turn, they reached the property. The ramshackle main

Unsurprisingly, Christian Völkers knew how his residence should look; he preferred a historic property, far away from the throngs of tourists visiting the island. One day, Cecilia Sandberg, then the office manager of Engel & Völkers Palma,

house was a ruin; debris had accumulated over the years. Cecilia Sandberg feared a negative response, but hoped the natural beauty of the property would outweigh the run-down condition of the finca. While he was being guided through

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1989 O N WA R D S FRO M RU I N S TO M A N O R H O US E: A N A DV ENT U R E O N M A J O RC A

the property, Christian Völkers suddenly caught sight of the sea sparkling through the trees. He fell in love. After a quick tour of the grounds, Christian knew for definite that he wanted the property. He consulted with his friend, the architect Antonio Obrador, who then accompanied him to the site for a closer inspection of the finca’s construction. ANTONIO OBR ADOR

Even though the estate boasted nearly 500 years of history, the architect had difficulty finding interesting building or floor plans. Only the façade, with classic columns on the terrace, seemed worthy of preservation. However, Antonio

BARON MARTIN VON JENISCH

Architec t

“The secret of his success? He has an awesome vision and the power to constantly evolve.”

“I never would have imagined that such a beautiful manor house could emerge from the initial pile of stones.”

Obrador was fascinated by the unique location and distinctive details—the house even had a small stream that flowed through the interior living area. In the early nineties, Christian Völkers invited some German friends, including Baron Martin von Jenisch and Ralf

Christian restored the olive press. On the overgrown grounds sloping away from his property he discovered exquisite re-

Koopmann, to show off his new property. The friends, una-

taining walls, an old olive grove, and a mass of tangled vines,

ble to hide their horror, took Christian to a nearby seaside

all of which he eventually rebuilt, restored, or nurtured back

restaurant and attempted to talk him out of the project. The

to health. At the time, the finca was still uninhabitable, but,

two gentlemen, who now smile about their initial visit, had

because Christian wanted to start enjoying the four seasons

a terrible first impression of the place—the wild, dense foliage, the heaps of stones, the dilapidated terraces—but in

of the year in his island home as soon as possible, he quickly renovated and winterised the upper floor.

the end, they realised that Christian’s sense of beauty had always served him well.

Besides, Christian had already made up his mind. The first challenge involved the orientation of the house. The

The Majorca renovation required a great deal of flexibility, since the finca contained only two rudimentary bedrooms, a working shower and toilet, and an old kitchen—with a fire pit—that served as a living room. Invited guests were asked to bring supplies with them, not only for the finca, but also for the small Engel & Völkers office in Palma.

entrance was moved to the back of the finca and the front, overlooking the sea, would feature a large terrace. A building with a small olive press and a private chapel added to the charm and quaintness of the property. In years to come,

The finca, called “Son Coll” (mansion on the hill) soon became a popular destination for friends. The open hearth in the kitchen functioned as the centre of activity in the house. The sundial, the emblem of the finca “Son Coll” on Majorca. Diego Leal in front of the finca’s main entrance. Diego is the family’s long-time groom, caring for polo ponies Blanca and Aurora. In 1985, Baron Mar tin von Jenisch brought the sign for the first Engel & Völkers shop on Majorca in his carr y-on luggage. Impressions of the estate both before and af ter the conversion.

110

“Son Col“

Por t des Canonge

Esporles

M a11

nd ra

Valdemo"a

120 Ma-1 Ma-1110

S‘Esgleieta

Ma-20

Palma

1989 O N WA R D S FRO M RU I N S TO M A N O R H O US E: A N A DV ENT U R E O N M A J O RC A

Once, when asked by a reporter about his fascination with the island of Majorca, Christian answered:

FR ANCESCO VENTURI “Christian and his family are good friends and our closest neighbours on Majorca. We share the same passion for this valley and the original architec ture of the buildings.”

Christian invited trusted employees of the growing company for regular meetings. In addition to their briefcases, they brought sofa cushions, lamps, bath towels, blankets—anything

“The accessibility of the island is good, as is the climate. But I could find that elsewhere. I am most fascinated by the people. I have found both Spanish and international friends here. These friendships, along with my house, mean a great deal to me.” Christian Völkers’ island neighbours enjoyed watching the German entrepreneur adjust to his new Spanish lifestyle.

they could cram into their luggage. Gradually, as the guest

Cecilia Sandberg had known Christian from the minute he

rooms were completed, opportunities to have work meet-

set foot on the island. Over a glass of wine, she shares her im-

ings and friends to stay grew. In the evening, employees and friends dined with candles and torches illuminating the

pressions along with Antonio Obrador. They remember how important it was for Christian to feel at home with Spaniards.

kitchen and the adjacent olive press. A tradition of making speeches at the kitchen table commenced, and current and

Antonio Obrador points out Christian’s Latino appearance.

future company leaders grew closer together as they gained

With Christian’s combed-back curls he has always looked like

some valuable practice in the art of communication.

a native. He even adapted his sense of humour to fit in with the locals—becoming more personable, open-minded, and

Visits to the finca were not always harmonious, especially during times when tenuous business decisions necessitated three days of rigorous debate. Princess Bettina Wittgenstein, then Head of the Academy and the GG publishing company, recalls that the meetings were very emotional. But, as was

confident. “Christian deserves to be so proud of his achievements,” says Antonio. When asked about the interior and exterior design of the finca, Antonio emphasizes how well the two men have always worked together—that Christian has always been open to suggestions.

typically the case, hard work during the day did not deter any celebrations once the evening came. At the end of each session, the group—motivated by the uniquely familial spirit of Engel & Völkers—usually found common ground.

Christian Völkers found his aesthetic voice. He had taken a property cluttered with ruins, rubble, and gnarled vines and turned it into an estate that would continue to radiate quiet elegance by evolving to suit changing times.

In many ways progress at the finca mirrored the growth of the company. Christian’s intention was to create a retreat to stir new ideas, a place where he could work with his staff, removed from the stress of everyday life. He invited his team to spend weekends at Son Coll. He provided them with tips for restaurants and sightseeing trips to coves and beaches. The team added to the list of suggestions with discoveries of their own. They were part of the Engel & Völkers family.

Christian Völkers with two of his polo mares in the entrance to his finca. Christian Völkers with his wife, Ninon, and their Spanish dog, Bruno.

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1989 O N WA R D S FRO M RU I N S TO M A N O R H O US E: A N A DV ENT U R E O N M A J O RC A

influence of his wife, Ninon, and his two children, Oscar and Teresa. All of Christian’s friends agree that he is a brilliant host. Many of them claim that it takes a long time for him to gain confidence with new acquaintances, but once trust has been established, he becomes the most loyal friend imaginable. Long-time friend Leonardo Ferragamo confirms this:

PHILIP HAR ARI

ANDRÉS PIEDR AHITA Shareholder since 2012

“In spite of the considerable difference in age, Christian and I are the closest of friends and share many of the same interests.”

“As well as being one of my closest friends, Christian has also been a fantastic business par tner. He has always been there for me in the good times, but especially in the hard times. His focus, humility, and tenacity have created a unique company where, above all, people come first.”

“Christian has the driving force of combining visionary and entrepreneurial skills with hard work and great entertainment ability, together with appreciation for friendship and for healthy enjoyment of life and lifestyle.” On the island of Majorca, Christian Völkers has tapped into another side of himself. When he’s there, he can occasionally

Philip and Diana Harari—even though they belong to an older generation—have stayed young at heart through their close relationship to the friends of their children. Diana, an attractive and unconventional woman, has always been

be spotted on the beach of Port d’es Canonge, a nearby fishing village where he docks his boat so he can easily access the next harbour. There, espresso in hand, he reads the local newspaper. He has everything he needs at the finca, where

impressed by the amount of time Christian has dedicated to

he rides in his small John Deere tractor and inspects his

his vision. “He was very focused on his plans,” she says. Diana

vineyards. His guests enjoy helping with vineyard activities,

experienced many aspects of the restoration process, and

assisting with the grapes, and corking the bottles. They dine

explains that Christian was devoted to the restoration of his

on home-grown tomatoes and cold pressed olive oil, accom-

vineyards and the delicious wine he produced. She com-

panied by the finca’s own wine. He serves delicious meals,

ments on his meticulous attention to detail, both when talking

but Christian enjoys the simplicity of dining on cheese and

about his business and when making plans for his finca.

wine. He doesn’t require more to be happy. For him, Majorca still represents the best that life has to offer—a second home

Despite the significant difference in age, Diana’s husband Philip regards Christian as one of his closest friends, bestow-

in a heavenly retreat where he can enjoy time with his family, a source of energy for his otherwise busy life.

ing on Christian a great compliment: “If I were Christian’s age,” he says, “I would want to be just like him.”

Since the nineties, Christian has been constantly thinking of ways to improve his 150 hectares of land. He plans to

Christian’s friends perceive him as intelligent and successful, but also very down to earth, a quality many credit to the

build a stable for breeding his polo ponies, who cohabitate peacefully with the donkeys, wild goats, rabbits, and the Podenco dogs that also reside on the estate.

The beautifully set garden of the finca Son Coll. Impressions inside and outside the centuries-old finca with many of its preser ved original period features.

Thirty years ago, following a day spent outside in the glorious Majorcan sunshine, could Christian Völkers have imagined that he would one day sit on his terrace with a glass of wine produced from grapes grown on his own finca?

119

The Engel & Völkers Polo Cup

Polo is one of the greatest passions of entrepreneur Christian Völkers. Polo is a spor t in which interac tion and team spirit are just as impor tant as a player’s handicap. Princess Bettina Wittgenstein, Head of Global Corporate Communication, has been with the company since 1994. She works closely with the Management Board on international press ac tivities.

Our polo tournament, which takes place over several days every year at Christian Völkers’ Son Coll finca on Majorca, unfolds in front of a spectacular backdrop and has long become an annual highlight on the beautiful Spanish island. With hundreds of guests dressed in white, the polo tournament is celebrated in the evening with a traditional Argentinian asado (barbecue). Christian is a polo player with great passion. The sport suits him: Speed, flexibility, perfect teamwork, precision, and reliability are top priorities on both the polo field and in the real estate business. Team spirit and the talent to think ahead are just as critical as the respect and close interaction between rider and horse. The art of communication plays a major role in the sport, as well as in our business— both internally and externally. As company spokesperson and Head of Global Corporate Communication, I work closely with Christian Völkers and the Engel & Völkers board members to organise this important PR event for the company. I have been part of Engel & Völkers since 1994. During this time, I have helped shape the Engel & Völkers philosophy and spirit for my colleagues.

1 Guests are welcomed by Christian Völkers at the finca before heading to the polo field 2 Natasha Zupan 3 Luziah Hennessy, Celia and Francesco Venturi 4 Having prepared the horses, young grooms then bring them to the matches. 5 Antonio Obrador with his son 6 Antonia Crespí Bennassar, Engel & Völkers Private Office 7 Diego Leal, Head of Polo Son Coll.

8 11

8 The game is divided into periods called “chukkers”. Each chukker lasts seven minutes 9 Mar ta Gaya Hernandez 10 Dr. Har tmut and Vivi Dietrich 11 Simoneta Gómez-Acebo (cousin of King Felipe VI.) and Alber to Comenge 12 Leonardo Ferragamo and his daughter Maria Sole Ferragamo 13 Katharina and Johannes von Kleist Schön 14 Ninon and Christian Völkers with Corina and Andrés Piedrahita 15 Philip and Diana Harari.

1 3

9 8

I’ve also communicated the essence of our values to the outside world. When I was Head of the Engel & Völkers Academy and the GG publishing house, I supported different stages of development—the implementation of the shop concept, the franchise system, and our rapid international growth. The Engel & Völkers global expansion presents communication challenges—it has always been part of my job to clearly convey the evolution of the company. The Engel & Völkers management board often visits Son Coll, Christian Völkers’ family retreat. The finca—deceptively peaceful in appearance—was not always a place of calm. While fierce arguments sometimes erupted during the day, in the evenings we forgot our differences and celebrated our shared passion for the company. In the end, we always found common ground. Today, the idyllic estate remains the ideal place to foster new ideas for developing the Engel & Völkers brand—an island haven far away from the hustle and bustle of the company headquarters in Hamburg. The historic estate Son Coll has become a second home for Christian. He takes great pride in breeding his polo ponies and passes on his dedication for playing polo with a true passion for the game. In 2014, Engel & Völkers began supporting children and teenagers interested in polo by establishing a polo school and youth camps. By contributing to the worldwide popularity of the game we are doing our part to widen the circle of polo enthusiasts. For Christian, this has become a heartfelt and valuable investment in the future. The Majorca event has evolved over the years into a renowned sporting and social occasion. The first Polo Cup was held in 2009 with 180 guests. Just like a family

1 Michael de Picciotto, Deputy Chairman of the Super visor y Board of Engel & Völkers AG, together with Christian Völkers 2 Supermodel Nieves Álvarez and presenter Boris Izaguirre 3 Oliver and Dina von Boch-Galhau 4 Sabine Lanz and Baron Christoph von Schenck zu Schweinsberg 5 Prince Franz von Auersperg and Conrado Dornier 6 Katharina Mahnke with her daughter Emilia and friend Maxine Odia 7 Vick y Leandros with Princess Bettina Wittgenstein 8 Countess Mar ynic and Count Hieronymus von WolffMetternich 9 Melanie Shubair 10 Count Benedik t von Dürckheim with Meshaal bin Jassim Al-Thani 11 Some 700 guests attend the Engel & Völkers Polo Cup on Son Coll. The polo tournament is followed by a dinner under the olive trees.

3 2

1 Ninon Völkers together with her mother Ingrid van Aalst 2 The guests follow the matches on Son Coll directly from the edge of the polo field 3 Three generations of the Völkers family: Christian Völkers with his nephew Christian Philipp and his mother Annelie 4 Cecilie and David Scheffler 5 Johann and Cynthia Völkers 6 Sven and Stefanie Odia 7 Christopher and Kim Winter.

8 Daniel Crasemann and Christian Völkers 9 Supermodel Eugenia Silva and Ninon Völkers 10 Sebastián Escarrer 11 Former Armani model Antonia Dell’Atte and Francisco Car vajal 12 Countess Caroline von Waldburg with husband, Baron Constantin von Dalwigk, Managing Direc tor Private Office Worldwide 13 The Engel & Völkers Polo Cup offers an ideal platform for networking 14 Princess Anna and Prince CarlEugen zu Oet tingenWallerstein 15 Mercedes Baptista and Santiago Ybarra 16 Manuela and Thomas Völkers.

1 The winners of the 2009 Engel & Völkers Polo Cup were the Berenberg Bank team, with players Caspar Crasemann, Bolko Kissling, and Gustavo Velasquez. The other three teams were Bentley, Tristan, and Engel & Völkers Private Office. 3 2 2 In 2011, Engel & Völkers won with Christian Völkers, Bolko Kissling, and Christopher Winter. They defeated Berenberg Bank, Son Campaner and Drettmann 3 The winners of the 2012 Polo Cup were the Rolls-Royce Team with Caesar and Caspar Crasemann, and Heinrich Dumrath. Other teams this year were Villa Eden, Bucherer, Son Campaner, Engel & Völkers, and Gira 4 Bautista Bayugar 5 Christian Völkers with Jose Luis Barreto and Daniel Crasemann 6 At the 2016 tournament, the Engel & Völkers team won with Davor Luksic, Gastón Maíquez, Felipe Odia, and Christian Völkers. They competed against the teams SHA Wellness, 1724 Tonic Water, St. Regis, Bentley, and La Mar tina.

8 7

7 In 2010, four teams contested the tournament results. The Engel & Völkers team with Christian Völkers, Daniel Crasemann, and Jose Luis Barreto defeated La Reser va Rotana, Berenberg Bank and Bentley 8 It is tradition that, ever y year, Ninon Völkers presents the winner’s trophy to the winning team 9 Caesar, Daniel and Caspar Crasemann 10 In 2013, the Bentley team won with Jose Luis Barreto, Caspar Crasemann, and Bolko Kissling. The strong competitors were Car tier, Engel & Völkers, Gira / Dornbracht, and Kaldwei & Forest Lakes. 10

11 In 2013, the Bentley team won with players Jose Luis Barreto, Caspar Crasemann, and Bolko Kissling. The strong competitors were Car tier, Engel & Völkers, Gira / Dornbracht, and Kaldwei & Forest Lakes 12 Team La Mar tina, with Tahnee Schröder, Gastón Maiquez, and Naomi Schröder secured the trophy at the 2015 Polo Cup. This year included the teams MS Europe, 1724 Tonic Water, SHA wellness, St. Regis, Relojeria Aleman, and Engel & Völkers. 12 11

“Traditionally, the Engel & Völkers Polo Cup always has a firm emphasis on the spor ting aspec t. But polo is more than just a spor t,” says Christian Völkers. The annual Engel & Völkers Polo Cup offers licence par tners and real estate agents the oppor tunity for professional exchange. Employees from all over the world take the oppor tunity to gather market exper tise and initiate collaborations. In addition, the Polo Cup is of ten covered by international media, thus strengthening the visibility of the brand worldwide. The awards for the most successful real estate agents, the “Top Agents” in the network, are also presented at the event on Majorca.

In 2014, board member Kai Enders opened the awards ceremony with a shor t speech and congratulated the winners in eight categories on their outstanding individual achievements. Twenty-six of the for tyt wo “TOP Real Estate Agents 2014” were there to receive their awards from the speakers on stage.

1 Af ter the sit-down evening dinner, celebrations continue under the stars until dawn 2 Brandon Jara, Ninon Völkers and Manolo March 3 Countess Nesrin and Count Maximilian zu Königsegg 4 Rackham F. Schröder.

5 Spec tators gripped from their places on the edge of the field 6 Philip Harari and Princess Bet tina Wit tgenstein 7 Baroness Tatjana von Rukavina with her sons, Felipe and Leopold.

9 10

8 Count Hieronymus von Wolff-Metternich, Oliver von Boch-Galhau, and Andreas von Maltzan 9 Dr. Kira and Dr. Bernhard Heiss 10 Borja del Cuvillo 11 Elena Grebe and Christian Philipp Völkers 12 Agatha Herrero and Douglas Teitelbaum 13 Collien Ulmen-Fernandes and Christian Ulmen 14 Francisco Car vajal 15 Each player attends the Polo Cup with four ponies that are alternated during matches 16 Board members Thilo von Trotha and Christian Evers.

ROGER HODGSON “I have rarely given a concert at a place as magical as Son Coll. It was a great pleasure to perform for my friend Christian at his Majorcan home.”

throwing a big party, the board and I set up the tents and set the tables. Today, over 700 guests accept our annual invitation, including employees from the global Engel & Völkers network, friends of the company, and numerous international VIPs. Polo plays an important role for us as a company: our Polo Cup offers our licence partners and real estate agents —many of whom come from countries as far away as the USA, Chile and Hong Kong—the opportunity to network on an unprecedented level. By trading perspectives on the most beautiful properties around the world, they have the chance to intensify their synergies and foster stronger global teamwork. In addition to the Polo Cup, many other special events have shaped forty years of Engel & Völkers. One of my absolute highlights was the celebration of our thirtieth anniversary 1 As par t of the celebrations for the 30th anniversar y of Engel & Völkers on Son Coll, Roger Hodgson performed with his band 2 Christian Evers and Natascha Israel 3 To create the perfec t ambience for 700 guests, tables are set up right on the edge of the polo field 4 Jordan Hewson and Diego Osorio 5 Count Hieronymus von Wolff-Metternich and Hendrik teNeues 6 Diandra Douglas 7 Simoneta Gómez-Acebo and Ninon Völkers 8 Valerie, Daniel and Luisa Crasemann 9 Fabien Pic tet 10 Federico Spada and Luziah Hennessy 11 The dinner is prepared with great attention to detail 12 Baron Andreas von Maltzan and his wife Duchess Anna in Bavaria.

on Son Coll. Roger Hodgson, now a close friend and the founder of Supertramp, performed with his band and sang his greatest hits on a makeshift stage in the olive grove. Every year, we also present the “Top Agents” awards to members of our global network. The recipients have made valuable contributions to the evolution of Engel & Völkers. The celebrations have become an important part of our brand management and define our corporate culture. Built into the Engel & Völkers DNA is the motto: “Work hard & play hard”. We publish reports about our events, both internally and to the international media. As a proud member of the Engel & Völkers family for over twenty years, I reflect on these memorable moments with affection and pride. They connect me to the company’s fascinating, colourful history.

6 4 7

1990-1995

In Search of Excellence

1 9 9 0 -1 9 9 5 I N S E A R C H O F E X C E L L E N C E

“In order to ensure standardised high-quality service in all our shops, we must provide excellent, uniform training for all Engel & Völkers employees.”

In the peaceful seclusion of his finca, Christian Völkers found time to recuperate and relax. Uninterrupted by the distractions of the outside world, he discovered new ways of

sales know-how, preferably with a professional coach and using the Engel & Völkers Manual, which stipulates the particular and discerning standards of the brand.

identifying problems and developing solutions. Back in Hamburg, Christian happened to come across a report The profitable commercial real estate business at the Hamburg headquarters had grown quickly. The revenue not only supported GG magazine, which still lacked sufficient

on the best coaching services in Germany. At the top of the list was a Munich-based group that even had an office in Hamburg. Christian immediately contacted the company’s

advertisers, but also helped the company rent the many new

director to arrange an initial weekend meeting in nearby

shops in Germany, along with the salaries of almost 200

Treudelberg. The management of Engel & Völkers and the

employees. In the past, sales consultants had been chosen for their personalities, but now self-confidence, elegance and a completed business training were prerequisites for employees. Nevertheless, the company felt the need to intensify

trainer, Peter Dau, attended the meeting. Christian Völkers summed up his goal in clear terms: increased professionalism in sales techniques to help Engel & Völkers become the market leader in all real estate markets. Christian chose a

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1 9 9 0 -1 9 9 5 I N S E A R C H O F E X C E L L E N C E

step—aboard their nautical classroom—the consultants gradually became groomed in proper Engel & Völkers sales conduct. In the evenings, the boats would then turn into party vessels, but the festivities did shut down at a reasonable hour—the colleagues all knew that they had to be sober enough to exit the harbour the next morning.

PETER DAU

PRINCESS BET TINA WIT TGENSTEIN

Trainer E&V Academy (1997–2000)

Head of Global Corporate Communication

“How he motivates people —the way he awakens their pride and commitment to the company. It’s a stroke of genius!”

“I especially enjoy communicating the Engel & Völkers brand worldwide and at the same time working with my good friend Christian.”

The sailing seminars were so successful that Christian offered additional trips around Majorca, always with the coach on board. One of these sessions focused on communication. The coach secretly disabled the radio link that connected the three ships in the Mediterranean, then instructed the trainees to invent a communication system they could use without a radio, a method that would help them navigate their boats the next day without a collision. The participants managed to concoct their own alphabet and language by raising and lowering swim fins, or flippers. The next day, to everyone’s absolute astonishment, the col-

metaphor for his vision—he imagined a room full of back-

leagues managed to present a sailboat water ballet, using

packs, carefully prepared with the material and expertise

their singular, swim-fin form of communication.

needed by any prospective broker starting out. Opening a new office anywhere in the world would be simple—as long as the prospective consultant had his trusty “backpack” of instructions and information in tow.

The training, which focused on encouraging superior teamwork, was not all fun and games. At the core of each session was the desire to encourage growth with a highly motivated and qualified team. To accomplish this, the first

The sales structure of Engel & Völkers experienced a thorough, professional makeover through regular seminars, which were sometimes even integrated into leisure activities. Engel & Völkers employees bonded by meeting for sailing excursions on the Baltic Sea. Because Christian was driven by the need to inspire his employees, Engel & Völkers happily provided three boats to employees for an entire week, a program that stemmed from Christian’s desire to accelerate the growth of his company by investing in training. Using flip charts, the trainer outlined indispensable rules for sales consultants. For instance: no sales offer should ever be made without a notary appointment, and no “hot topic” issue should be discussed over the telephone. Step by

126

“quality-control tools” were conceived and implemented. Called “Pro 100”, the tools symbolised 100% professionalism, at the very highest business level.

Engel & Völkers has always received favourable press feedback for its training program. Internal training measures ensure that the exper tise and skills of employees are optimised on an ongoing basis. The management team in the years between 1993 and 1997. During this time the management included: Gesine von Ehren, Ernst-Moritz Krossa, Nicolas Jeissing, Konstantin Wettig, Christian Völkers, Daniel Crasemann, Eva-Maria Haug, Alexander Lamper t, Ulrich Schulte, Thomas Spindler, Sven Reiniger, Philipp Glander, Thomas Kirst, Princess Bettina Wittgenstein, Lothar Riehemann, and David Kenney.

1993

1994

1996

1997

G N I T I U R C E

R & L E G N E VÖ L K E R S H O M EO W N L A N D LO R D ER / AC Q U I S I T I ON

P RO P E R T Y P R ES E N TAT IO N

P RO P E R T Y B RO K E R AG E

E C I F F O M EN T E G A N MA SE ARCH CL IE NT AC Q UI SI TION

+ 6 0. 7 %

CLO UD B UY

LEAD TYPE SPLIT IN OCTO BER 2017 COMPARED TO LAST YEAR /MON TH

DIR EC TLY TE AM

I R D MA

2 0 17

BAR

P RO P E R T Y SA LE / R E N TA L

CEL ON

E N O D L A E D

3 0. 4 % COMPARED TO ABSO LUTE FIGUR E LAST YEAR /MON TH

LEA DS

MARK E T M A N AG E M E N T

LE A D ER

S H IP

AF TER SA LES

N O I S S PA E T E CO M P S I V U L C X E

1 9 9 0 -1 9 9 5 I N S E A R C H O F E X C E L L E N C E

Soon every Engel & Völkers office (at nine in the morning, every Tuesday) offered identical topics for employees to discuss. Relevant subjects—like the best way to list a property—were mulled over and debated. Christian believed that 200 people thinking about the same task would provide an astounding density of knowledge. Solutions to specific challenges were evaluated anonymously and with a sense of neutrality, and fed back into a “best practices” system, making solutions accessible to all employees. The Engel & Völkers system helped the company stay up to date at all times. In a business where there is not one ready-made solution to each sales situation, the teamwork concept—the discussion and dissection of individual situations—strengthened the body of knowledge shared by the alliance of employees. By implementing its seminars in the nineties, Engel & Völkers experienced noticeable growth.

One of the secret ingredients was the fact the colleagues had all just started working and were abundantly motivated. The strong sense of belonging and team spirit assured that high success rates were met. Although the initial training activities took place in the form of regular seminars coached by the external trainer, in 1995—after Christian Völkers had developed his own training system—the sessions became an integral part of the curriculum at the new Engel & Völkers Real Estate AcadeThe management team in the nineties, photographed in the old “Elbtunnel”. From lef t to right: Ulrich Schulte, Gesine von Ehren, Thomas Spindler, Eva-Maria Haug, Christian Völkers, Nicolas Jeissing, Alexander Lamper t, Daniel Crasemann, and Konstantin Wettig. The “Y” model, developed by Engel & Völkers, describes the Key Success Drivers and ser ves as a guide for each agent. Christian Völkers wants to ensure 100% professional ser vice from the company’s employees with tools like Pro 100. The in-house magazine “Your World Your Way” informs employees about significant company news, including international events on Majorca.

my, based in the Hamburg villa on the Elbchaussee. At a time when corporate training for employees was still uncommon, Christian Völkers once again proved himself to be a true pioneer in the real estate industry. The growth of the company became a new challenge. Whereas Christian had experienced success in the past through his personal presence at deal closures, he now had to steer the company with analytics and systems. Employees took care of the day-to-day running of the business, but Christian still remained the first point of contact whenever new challenges came along.

135

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to the Office on Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

LOCATION

Other locations opened outside Hamburg, in Schleswig-Holstein, Düsseldorf, Munich and Tegernsee.

SUCCESS STORY

PRO 100

MARKETING TOOLS

LOGOS

FIBEL

OFFICES & SHOPS

7 6 5 4

3 2

1978

1981

1984

1987

1990

in mill. EUR

REVENUES

4.0

3.4 2.8

3.0

2.1 1.5

2.0

1.0

0 1978

1981

1984

1987

1990

EMPLOYEES & AGENTS 250

200

14 LUCKY NUMBER

The number of trainees is growing all the time, with a view to attrac ting up-and-coming new talent. One of the secrets to success here is the young average age of the team, which is absolutely dedicated to the ever-expanding company.

NAME DROPPING

200

150

100

1978

1981

10 1984

30 1987

1990

THOMAS SPINDLER

PRINCESS BET TINA WIT TGENSTEIN

Member of the Management Team Januar y to mid-1990

Head of Global Corporate Communication

1995-1996

Innovative Corporate Identity Strategy and Memorable Parties

1 9 9 5 -1 9 9 6 I N N O V A T I V E C O R P O R A T E I D E N T I T Y S T R A T E G Y A N D M E M O R A B L E P A R T I E S

“My motto: Work hard; Play hard.”

Christian Völkers’ new concept shook the company down to

would help overcome clients’ hesitation or ease their

its bones: In Hamburg, he called all his senior and freelance

reluctance to walk into a real estate office.

consultants together and proclaimed that he wanted transparent offices. Christian wasn’t speaking in metaphors—he

“What works in England can also be implemented here.”

wanted to literally put the business in a glass showcase. The

Christian Völkers enthusiastically described the new Engel &

Alster office for downtown Hamburg real estate was located

Völkers shop concept to his astonished listeners: pure white

on Mittelweg. But Christian Völkers wanted more direct

wooden façades with pilasters, and a frieze presenting the

contact with the clients. He pointed to photographs from

Engel & Völkers lettering in black and red. The house

England and the USA to demonstrate the way that real

number would be displayed in black above each of the two

estate storefronts with wood-panelled façades pre-

columns. Panelling would form the foundations of the façade,

sented properties for sale in large display windows: He was

displaying the company logo—including the villa—on one

intrigued by the visibility of the properties and the way real

side, and the logo of the in-house company magazine GG

estate agents could be seen working inside the office. And he felt very strongly that transparent, welcoming shop fronts

on the other. He wanted to fasten a sign to the exterior wall, which would extend out into the road above the street and

141

“The quality of service is the same everywhere - that’s the common thread in our DNA.” CHRISTIAN VÖLKERS

1 9 9 5 -1 9 9 6 I N N O V A T I V E C O R P O R A T E I D E N T I T Y S T R A T E G Y A N D M E M O R A B L E P A R T I E S

draw attention to the presence of the shop from afar. The red

and the office kitchen. As the clients entered the shop, they

corporate identity ball—already in use on other signs—would

would be welcomed by the assistant at the slightly elevated

also be featured. Through large shop windows, the client

reception counter, immediately identifiable as the first point

would get a first glimpse at the interior of the shop. Buyers

of contact. The real estate consultants would be clearly visi-

would see the exposés of properties and have the opportunity

ble through the shop windows. No one would be permitted

to learn about current real estate offers. Sellers could see how their own properties would be presented. The front door would be painted black, with a clearly visible sign—satin acrylic with black lettering—that would state opening hours. Positioned on the left and right sides of the door would be black pots holding spheres of boxwood. The front of the shop would offer a bike stand for clients, and a black bike with the Engel & Völkers logo. This bike, with a basket full of GG magazines, would be used by employees for trips around the town as a marketing tool to attract new potential clients. Christian also imagined a bowl filled with fresh water for the four-legged friends of his clients. He went on and on with his report, not missing any details. He had even planned the interior design, and stressed the need for consistency with furniture, lighting fixtures, shelves for the display and distribution of brochures,

to sit at a desk with their back to the door. Each colleague would create a hospitable atmosphere and initiate friendly eye contact with anyone peering through the window.

Response from Christian’s colleagues was less than enthusiastic. Following his unusually lengthy monologue, Christian Völkers stopped and looked at the frozen faces of his employees. Instead of the anticipated thumbs up, he encountered a stunned silence, and then, an air of confusion. “Impossible!” he heard again and again. “What do you think you’re doing?” Slowly, the chaos subsided, and one of the employees summed up what everyone was thinking: “We refuse to put ourselves on display in a shop window!” Always the diplomat, Christian Völkers seemed to accept the uproar and withdrew for a few days. However, he had already scheduled meetings with architects and interior designers and had begun making plans for the first Engel & Völkers shop in Hamburg’s elegant Harvestehude district. Others would soon follow in Blankenese and Munich. Gradually, all the Engel & Völkers offices were converted into shops. But

The former Engel & Völkers shop in Barcelona, featuring typical Engel & Völkers corporate design elements. The shop in Montréal in Canada is fully in line with company guidelines. The Engel & Völkers shop specifications: the white wooden façade, the black front door, the logo, the spheres of box wood, and the red ball on the hanging sign. Despite individual designs, each shop is recognisable as an Engel & Völkers shop by its corporate design branding. The shop fitting depar tment at company headquar ters designs the floor plan and façade planning.

144

the consultants, especially the women, were reluctant to accept the new concept. Some longstanding employees even left the company. But this did not discourage Christian Völkers from implementing the new concept. The visibility of Engel & Völkers grew exponentially. Until this point, only the postcards, the signs, the advertisements and GG magazine had reinforced the uniform market presence of Engel & Völkers. Now, the shopfronts would define the appearance of the brand. Christian knew that only a unified overall visual image would support sustainable expansion of the company. He was confident that the result would be worth the cost.

In the heart of the historic city of Ghent, the Engel & Völkers Shop has a unique location right on the banks of the Leie River.

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CHRISTIN SCHLICHTING

SABINE BLESEL

Head of Marketing (1999–2008)

PA to Christian Völkers

“Being par t of the successful development and steady grow th of an international brand has—so far— been the biggest and most rewarding challenge of my professional life.”

“His motto: Never accept a no!”

Revenues increased, but transforming the offices into

“Speed Up” was the motto for all parties. In 1995, a glam-

shops—along with the departure of many trusted employees—

orous celebration for nearly 200 employees was labelled

caused financial challenges. Unsurprisingly, Christian Völkers

“Dance of the Vampires” and would go down in Engel &

stayed on course. Just as he had done in the case of GG magazine, Christian defended his vision with concise and persuasive convincing arguments. In an effort to dispel the misgivings of his employees, he spared no effort or expense to organise a memorable party for them.

What an outsider might quickly dismiss as an act of reckless abandonment–throwing a party in the middle of a tense financial crisis– was in fact an integral part of the company philosophy. Christian Völkers had long understood that human motivation stemmed from emotion. By offering his employees an opportunity to celebrate and socialise, he fostered their loyalty and invigorated their motivation enormously, reinforcing their sense of responsibility and passion for the brand.

Völkers history as one of the company’s most unforgettable events. Christian’s friend, Prince Alexander zu Schaumburg-Lippe, gave Christian permission to throw an over-the-top Baroque ball at Bückeburg Castle, the Prince’s private residence. Christian prepared everything down to the smallest detail, including the rental of matching costumes and wigs from the famous Babelsberg film studios near Berlin. Forty stylists provided the perfect rococo make-up and a group of dance teachers taught minuet choreography to all employees before the ball. Christian Völkers and Prince Alexander, with his mother, the late Princess Eva-Benita

Engel & Völkers shop façades around the globe. The standardised corporate identity makes the shops recognisable worldwide. Engel & Völkers merchandising produc ts are developed at company headquar ters in Hamburg and offered for sale to licence par tners via an online shop.

155

1,40

Kitchen

ca. 6sqm

3 3

1,41

ca. 10sqm

Private Office

Server

1,50

1,95

Shop ca. 66sqm

12 4

1,40

1,14

Patio

1,40

1,10

ca. 16sqm

Meeting 1

ca. 9sqm

1,00

50 1,72 15 50 1,30 2,00 1,25 15 1,00 80 1,00 80 1,00 80 1,00 90 2,69 40

1,09 15 2,29 40 15 90 80 80 90 15 1,00 1,84

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zu Schaumburg-Lippe, enchanted the group by greeting each guest individually and personally welcoming them to the evening dinner. The countless mirrors of the ballroom reflected the flickering light of silver chandeliers, and many of the ladies and gentlemen—decked out in Baroque attire and powdered wigs—did not recognise their colleagues. At midnight, the doors to the largest Rococo ballroom in Germany were opened and a night of dancing began. With fresh inspiration, the partygoers returned to Hamburg. The initial reluctance of some colleagues to accept the shop display window idea gradually faded.

A concept that had been completely unthinkable in Germany at the time–and one that had even threatened Christian’s career–eventually became the norm and was copied by many other real estate companies. In 1996 liquidity problems led to a financial crisis. The company had grown so much that a move to a larger headquar-

JOACHIM PAWLIK

DANIEL CR ASEMANN

Managing Direc tor PAWLIK Consultants GmbH

Shareholder (1987–1997) & Par tner of DWI Group

“Energetic, fascinating and desirable are the Engel & Völkers attributes that motivate employees and attrac t clients. This way large goals are reached while even larger ones have already been set.”

“With Christian, company grow th and revenues always come first. Profit only ser ved as a reinvestment tool for continued grow th.”

would be successful. The construction of external façades, the standardised interior decoration, the conversion of

ters was unavoidable. The increased financial demands,

the offices themselves, and the rent paid for suitably distin-

with the publishing costs of GG magazine that was yet to

guished shops pushed the company to its limits.

become profitable, created a drain on assets. But the prime reason for financial hardship stemmed from the shop concept. Christian remained convinced that his strategy

Christian Völkers, who was personally liable for all loans, staggered under the weight of his financial obligations, and was even forced to used his beloved property on Majorca as security to help secure a loan with the bank. During this rocky period, Daniel Crasemann was trying to find a buyer for the entire Engel & Völkers company, as he had decided that he preferred to concentrate on developing real estate within the DWI Group rather than continuing in the brokering business. For Christian Völkers, a sale of the com-

The Engel & Völkers Manual on the architec ture, interior design and location of each shop provides clear guidelines for ever y licence par tner. There are even precise guidelines for each and ever y item of furniture. Open plan interiors with clean lines, light colours, and red accents charac terise the Engel & Völkers shops.

pany was out of the question. His brother, a successful entrepreneur, was in the shipping business. Christian, who had always been particularly close to Thomas, convinced him to take over Daniel Crasemann’s shares. Christian Völkers then sold his shares in DWI to Daniel Crasemann. The first storm had passed, but the sky remained dark and cloudy.

159

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 1990 Entr y into the Commercial Opening of the First Office Real Estate Market outside Germany

1995 Opening of the In-House Proper ty Academy

LOCATION

Coinciding with the rejuvenation of East Berlin, Leipzig and Dresden, a first shop also opens its doors on Majorca.

MOTTO

LUCKY NUMBER

SPEED UP 120 The first Hamburg shop opens on “Mittelweg” at house number 120.

MARKETING TOOLS

FIBEL

LOGOS

OFFICES & SHOPS

1978

1981

1984

1987

1990

1993

NAME DROPPING

in mill. EUR

REVENUES

5.5

6.0 5.0 4.0 3.0

1.5

2.0 1.0

2.1

2.8

3.4 DANIEL CR ASEMANN Shareholder (1987–1997) & Par tner of DWI Group

0 1978

1981

1984

1987

1990

1993

EMPLOYEES 350

300

CHRISTIN SCHLICHTING Head of Marketing (1999–2008)

250

200

200 150 100 50

1978

1981

1984

30 SABINE BLESEL 1987

1990

1993

PA to Christian Völkers

1997-2000

Introducing the Franchise System

1 9 9 7-2 0 0 0 I N T R O D U C I N G T H E F R A N C H I S E S Y S T E M

“The introduction of our franchise system was one of the most important steps taken in the history of Engel & Völkers.”

Thomas Völkers, Christian’s brother, had acquired Daniel

During this financially fraught time, Christian’s colleague,

Crasemann’s shares. This, however, had not helped with

Alexander Lampert, returned from his honeymoon and

cash flow into the company, which was urgently needed due

reported on a biography he had read on his travels—the

to the substantial investments required in the new shops.

story of the McDonald’s founder, Ray Kroc. Lampert, fas-

In addition, the relocation of the Mittelweg headquarters

cinated by how Kroc had acquired the first two restaurants

to Stadthausbrücke in Hamburg meant rent payments were

from the McDonald brothers and gone on to develop an

now higher than they had previously been. Three floors of

entire franchise system, was of the opinion that a similar

the modern office now housed the boardroom, management

structure could also work for Engel & Völkers.

offices, licence partner support, marketing and public relations departments, as well as the GG publishing company.

Selling real estate wasn’t quite the same as selling cheese-

Finally, everyone had sufficient space. As was the case in

burgers, but Christian Völkers quickly saw the ingenious log-

the Mittelweg office, the oil portrait of Dirk Engel held a

ic of growing his brand with the assistance of independent

place of prominence in Christian Völkers’ office. The Academy continued to use the space in the former headquarters.

entrepreneurs—especially now that the Engel & Völkers brand had established a reputation in Germany and the company

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now even had an office on Majorca, a Spanish island full of both German residents and international visitors. Alexander Lambert highlighted the most relevant passages in the book with post-its and comments, and gave it to Christian to read. With each turn of the page, Christian realised that Ray Kroc’s vision was very much in line with his own.

The franchising plan sounded simple, but, as Christian would later discover, implementing it would not go quite as smoothly as hoped.

THOMAS VÖLKERS

MARTIN SCHIRRMACHER

Shareholder since 1996 & Chairman of the Super visor y Board

Head of Legal Depar tment

“The secret to skill lies in determination. It took a little longer than expected, but the result surpassed all hopes.”

“Despite the vitality and sales power of Engel & Völkers, legal issues should not be neglec ted. I enjoy taking on this challenge!”

To kick off the franchising project, Christian decided to sell the best shops to his office managers, salaried employees of the Engel & Völkers company. It quickly became clear that most of them embraced the opportunity for independent entrepreneurship even though this meant sacrificing their reliable salaries. With the sale of the shops, the headquarters lost its annual profit, but earned an initial one-time fee for

Engel & Völkers shop in Buchholz, near Hamburg. Their entrepreneurial spirit was later copied by others who opened shops in Hamburg’s Marienthal district and in Munich— with two locations in the Grünwald and Bogenhausen neighbourhoods. The new strategy for rapid expansion seemed to be working. With fewer risks and costs for the parent

each licence sold, in addition to an approx. ten percent

company as there were no more shop operating expenses

recurring licence fee based on revenues. The shops would be

or fixed salaries to be paid. At the same time, licence fee

bound to the headquarters and governed by a complex licensing agreement based on the Engel & Völkers Manual, where the rights and duties were described in meticulous detail. Because they had no buyers, the unprofitable shops,

payments were slowly improving the parent company’s cash flow, although not all payments arrived on time. As many of the licence partners were friends, the rules governing the invoices were lenient. Unpaid invoices began to pile up.

including their losses, stayed under the control of headquarters. Soon, word spread about the ground-breaking franchise concept, and increasing numbers of interested parties came forward to acquire an Engel & Völkers franchising licence.

Another problem when implementing the licence system was dealing with the new partners. Both the new licensees and Christian Völkers had to adjust to the new situation. On the one hand, the new partners required handling with

The trainer Peter Dau was the first to purchase his own li-

kid-gloves and diplomacy, in the proposals made to them. On

cence. Peter and his then wife, Stephanie, who had trained at

the other hand, the new entrepreneurs had to take responsibil-

the Academy as a real estate consultant, opened their own

ity for their own decisions and understand that their choices could either guarantee their continued existence or threaten it. The corporate structure had been completely turned on

A por trait of Alexander Lamper t in the book “The McDonald’s Stor y” by John F. Love. Overloaded with yellow post-its, he handed the book to Christian Völkers, instigating the implementation of the franchise concept. In 1996, Engel & Völkers CEO Sven Odia applied for an apprenticeship as a “Merchant in the real estate and housing industr y“.

166

its head. Former managers were now franchise partners and expected to be treated as partners. Although self-motivation was now a top priority, licensees had to realise that, if they wanted to profit from the expertise of their former boss, they had to accept his propositions and implement them. The former office managers were now expected to invest in their own shops, find their own employees, and pay their

MAJORCA

HAMBURG

1 9 9 7-2 0 0 0 I N T R O D U C I N G T H E F R A N C H I S E S Y S T E M

licence fees to Engel & Völkers on time. The franchise situation—which had seemed a straightforward solution to solving the company’s cash flow deficit—grew more convoluted. Additionally, the company needed a large number of licence partners to sign up in a brief time if they hoped to pump sufficient funds into the company’s dwindling cash reserves; they needed at least eighty partners to ease the financial burden, but only some thirty-five licence partners were on board so far. Reducing costs would lead to a winding down of central services, which in turn would endanger the turnover of the partners. At this point, Engel & Völkers was too big to fail, but not big enough to rescue itself. In 1999, “Engel & Völkers GmbH” was changed to “Engel &

SVEN ODIA

MATHIAS BODE

CEO

Master Licence Par tner California since 2008

“Twenty years ago, we did not think it possible that we would become one of the world‘s leading real estate companies.”

“Tradition and consistent innovation have always been par t of the recipe for success. I enjoyed being a par t of building the brand in Africa and California.”

Völkers Aktiengesellschaft”. This meant they were now functioning as the holding company for all subsidiaries. With an entry in the commercial business registry on 1 March of that

twenty-two years old—bought a licence to operate his own

same year, the company would henceforth be listed as Engel &

Engel & Völkers office in Port d’Andratx.

Völkers AG. This turned out to be a positive step in the right direction, soon to be followed by another.

Christian’s initial concerns about Sven’s inexperience were not without reason. Due to a lack of familiarity with foreign

A young, confident Engel & Völkers intern, Sven Odia,

partners and appropriate support from headquarters, Sven

had already attracted attention with his self-assurance and

Odia’s career got off to a laborious start. Today, an entire IT

poise. His family owned a house on Majorca, where Sven spent his summers. Convinced he could set out on his own—he approached Christian Völkers to sell him a licence.

department is available to guide new licensees, but back then, only a single computer expert was responsible for the entire Engel & Völkers enterprise. Sven Odia recalls:

After some deliberation, Christian advised the young man to spend another two years in Hamburg where he could strengthen his understanding of the business and polish his skills before returning to Majorca to follow his dream. Sven Odia was young and full of motivation. Not willing

“I packed my VW Golf with six computers and drove from Hamburg to Barcelona. Then I took a ferry to Majorca.”

to accept his boss’s advice, he insisted on acquiring a licence of his own. Sven knew he was in a position to finance the licence with the support and backing of his family.

Sven, who had little IT knowledge, connected his computers with telephone instructions from the Hamburg specialist. The first months proved difficult—sales were non-existent,

After much prodding by a determined Sven Odia—and considerable thought on the part of Christian— the first foreign licence was awarded to Sven. The former intern—only

and Sven, carrying a backpack and dressed in a dark suit, went from letterbox to letterbox in boiling hot weather, personally distributing copies of GG magazine and providing local restaurants and cafés with matchboxes with the Engel & Völkers logo, in line with the Engel & Völkers system. While Sven—who many years later would become Co-CEO

Af ter his training in Hamburg in 1999, Sven Odia went on to gain ex tensive experience abroad as an independent licence par tner. He returned to headquarters in 2001.

of Engel & Völkers AG—was out pounding the pavement, his father took care of the office. Sven performed his tasks in a foreign language while managing the accounting and

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1 9 9 7-2 0 0 0 I N T R O D U C I N G T H E F R A N C H I S E S Y S T E M

running of his shop. He had enough cash for exactly two months. Since the parent company in Hamburg did not understand Spanish customs, fines were issued, with

Christian Völkers acknowledged the talent of his pupil and ultimately asked him to take over the office in Palma. But Sven had already opened two more shops—in Santanyí

the official papers personally served by the Guardia Civil.

and Puerto Portals—and wanted to increase his profits by

Neither Sven nor headquarters had been aware that Spanish

expanding independently. Christian had other plans for

law required the sales exposés to be written in Spanish.

Sven; he recognised Sven’s extraordinary dedication and ambition, and proposed a new career path—he asked Sven to

“They were the hardest months of my life,” says Sven. His courage and conviction were his most important assets.

sell his shops on Majorca and become part of the corporate headquarters in Hamburg, where he would henceforth be responsible for acquiring new franchise partners by using his own personal experience to convince others of their own potential. Sven, intrigued by the prospect of new challenges in an international market—that began with the Mediterranean and would soon encompass the entire world—agreed

For instance, when his first buyer wanted to sign a pre-

to take on the job. Together, they founded Engel & Völkers

liminary contract, no one in the parent company knew how to

International GmbH in 2001. Engel & Völkers AG held a

formulate it in accordance with Spanish law. Sven Odia pre-

seventy-percent stake and Sven Odia held thirty percent.

pared it as best he could and got the buyer’s signature. This

Even though Sven had returned to Hamburg, he would not

moment—the result of months of diligence and determina-

end up spending all that much time there—with his business

tion—marked the start of Sven Odia’s steep climb to success.

ventures and interests constantly taking him to international destinations far and wide.

Christian and Sven—an unlikely pair due to their age difference—often met at Christian’s Son Coll finca. “Christian was

Back in Germany, the company rejoiced with the acquisition

my mentor,” Sven Odia says. He had profited from Chris-

of each new licensee. Motivated by a strong desire to reverse

tian’s council, but he also made his own suggestions during the lively exchanges that took place at meetings. Sven Odia used the knowledge he had acquired in Hamburg: he spent many hours canvassing his licence region on Majorca— a process that was later to become known as “farming”.

its cash shortage, the company was not very selective when choosing new partners. The initial one-time fee, due at the signing of each licence contract, was a critical part of the financial arrangement. Many of the new shops were far from being model venues and some of the new partners were inexperienced in the real estate business. Other partners did

The small but popular town of Andratx, with just under

not fit the personality profile or image of the premium brand.

3,000 inhabitants, would soon deliver an excellent sales

It became increasingly difficult for board members to discuss

turnover, even higher than the individual licence partners in

marketing strategies with their new licence partners. In the

Germany and much more than the main Engel & Völkers

past, office managers had simply followed instructions. Now

office in Palma, where employees were tasked with managing property brokerage everywhere else on the island.

it was necessary to grapple over every single advertising design, the use of Engel & Völkers matchboxes, postcards for mailings, and direct neighbourhood contacts. Over and over again, company headquarters in Hamburg pointed to the brand rules and the Engel & Völkers Manual, but because they had transitioned into a service provider—with the licence partner as the client—expectations and requirements

In 1999, Sven Odia opened the first shop in Por t d‘Andratx on Majorca. The entire team at the Engel & Völkers headquar ters worked intensively during this period on the expansion of the company.

were often overlooked. The licensees understandably expected and demanded support from the various departments in Hamburg and often felt that their needs were not being adequately addressed.

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Establishing a new concept once again proved timeconsuming. Two steps forward meant one step back, a halting dance the company had already experienced while implementing the shop idea.

The matchboxes turn out to be popular merchandising tools. The Engel & Völkers Manual describes the best way to distribute them, and stipulates that employees should carr y three matchboxes with them at all times. Team photographs taken at the end of the 1990s of the Hamburg shops in Eppendorf, Winterhude, Wellingsbüttel, Volksdorf, Othmarschen and Blankenese. Christian Völkers and Sven Odia travelled ex tensively to acquire new licence par tners.

Licence fees were not paid promptly, a problem since these revenues financed the acquisition and training of additional licence partners. The training helped the partner generate

Back in the year 2000, licence partners expected support

more revenues, which would, in turn, help them pay their re-

with their operational business, but the Hamburg head-

curring licensing fee to the company headquarters. However,

quarters needed to become familiar with its new role as

sometimes it took as long as a year or two for a new partner

service provider before it could offer additional supportive

to start generating their first profits.

programs and marketing tools. The Academy proved to be a pillar of success by ensuring an improvement in profession-

By the turn of the century, Engel & Völkers was in a tense financial situation, reliant on the initial one-time licence fees to maintain their marketing, accounting, and support de-

al standards. So did GG magazine—licence partners were required to place advertisements twice a year and to buy copies each quarter. But the new partners regarded them-

partments. Sven Odia travelled nonstop, finding new licence

selves as entrepreneurs and were not always willing to meet

partners, as new partners meant urgently needed revenue in

their contractual obligations to the corporate headquarters.

the form of the one-time fees. To attract partners, he often promised territories that were too large—a plan that proved to be short term. These large areas would have been better served by dividing them among various partners, each with

The process of finding franchise partners for Engel & Völkers took much longer than expected. Christian arranged his franchise structure to expedite the sale of many new

a smaller area to control, but each achieving a higher turn-

licences, eliminating administrative bottlenecks that would

over. The lack of revenues was sorely felt by headquarters.

slow down the cash flow. This formula would only work if a

Consistent support to the new licence partners could not be

sufficient number of new partners could be found in a short

offered and the Hamburg office could not afford to endanger

time. But many potential partners were reluctant to commit

the fragile network of existing partners now in place.

to the idea of becoming self-employed and taking on all the related responsibilities and investments. The new licensing model progressed at a snail’s pace. Only the shops with the highest turnovers were easily sold. Once again, Christian Völkers faced harsh criticism. Not much time had passed since his last unpopular decision—the transition to the transparent shops—and he was still suffering from the resistance he had met in his own ranks. Still, he remained faithful to his vision, setting forth with his trailblazing licensing model. It has always been Christian’s nature to accept challenges and not deviate from his plans. At the turn of the millennium, he never guessed that he was revolutionising the real estate market in Europe.

177

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

LOCATION

1995 Opening of the In-House Proper ty Academy

1998 Launch of the Franchise Par tner System

LOGOS

FOOD FOR THOUGHT

The first shops take shape in Germany, in Hamburg and Munich, as well as on Majorca in Por t d‘Andratx, Santanyi and Puer to Por tals.

John F. Loves’ musings ser ve as a source of inspiration for the E&V franchise system.

MOTTO

BACK TO THE

ROOTS

MARKETING TOOLS

LUCKY NUMBER

80 par tners are required to cover the costs facing headquar ters in Hamburg. For the moment there are just 35.

FIBEL

NAME DROPPING

SHOPS & OFFICES

SVEN ODIA CEO

9 6

2 THOMAS VÖLKERS Shareholder since 1996 Chairman of Super visor y Board

1978

1981

1984

1987

1990

1993

1996

in mill. EUR

REVENUES

8.0

5.5

6.0

4.0

1.5

2.0

2.1

2.8

6.6 JÖRG BUCHEN Member of the Board (2008 – 2010)

3.4

0 1978

1981

1984

1987

1990

1993

1996

EMPLOYEES & AGENTS MATHIAS BODE

500

400

Master Licence Par tner California since 2008

400

300 300

200 200

100

1978

1981

1984

30 MARTIN SCHIRRMACHER 1987

1990

1993

1996

Head of Legal Depar tment

2000 Onwards

Business Challenges

20 0 0 O N WA R DS B US I N E S S CH A LLEN G E S

“Our success strategy depends on our standardised service system and the worldwide network of Engel & Völkers.”

The year 2000 did not feature record-breaking profits or economic success. But the brokerage of high-quality residential and commercial real estate—with twenty-three shops in Germany and two abroad—put Engel & Völkers in position to lead the market. Thirteen of the twenty-three shops were already operated by licence partners. A total of 390 colleagues

iary of a major insurance group, was the largest commercial real estate broker in Germany. They also brokered in the residential sector. Blumenauer’s total turnover was declining slightly, but Christian relied on his own expertise to be able to reverse the downward trend. Engel & Völkers expected the new partnership to double the number of shop locations,

now worked under the Engel & Völkers flag. The company

thereby doubling revenues—that would cover the fixed costs

had made history by becoming the first German real estate

of the headquarters. Some of the Blumenauer departments,

business to issue licences to qualified partners.

such as accounting and marketing, were absorbed by the Engel & Völkers headquarters. This process streamlined ope-

The year 2001 brought a new entrepreneurial challenge. In

rations, but it also instigated the unfortunate dismissal of

order to promote expansion in Germany, and also to gain

employees—an act that created resentment and triggered

locations for commercial business, Christian Völkers became

multiple protests within the ranks. The merger of the two

involved with another company. Blumenauer, a 100% subsid-

companies did not go as smoothly as planned.

183

20 0 0 O N WA R DS B US I N E S S CH A LLEN G E S

Christian Völkers once again stayed on course and refused to become distracted from his goal. He insisted that Blumenauer retain its own identity, even at locations where the Engel & Völkers brand was already established. The two brands then operated alongside each other. Christian Völkers recalls:

“This let clients opt for the broker that best suited their needs. It didn’t matter if they chose Blumenauer or Engel & Völkers.”

R ALPH KOOPMANN

HELGE KOL ASCHNIK Legal Advisor since 1998

“Once he decides to take something on, Christian Völkers leads it through to success. No ifs or buts!”

In spite of cautious optimism and internal forecasts, the part-

“Christian Völkers’ ability to transfer his own will to a large team— I consider this his most impressive entrepreneurial achievement.”

nership with Blumenauer was difficult. It was almost impossible for the Blumenauer office managers to understand how the licensing system at Engel & Völkers worked. Blumenauer,

and saw itself well represented in new locations. But the “fusion” problem persisted: Engel & Völkers and Blumenauer

still a subsidiary of a large insurance company, paid high

were separate companies with no realistic merger in sight.

fixed salaries to its employees and provided company cars.

The shareholders of Engel & Völkers remained shareholders

The licence partners of Engel & Völkers paid licence and

of Blumenauer, but the profits of the commercial real estate

service fees to the headquarters and were compensated by

offices were not enough to solve the problems of the Blu-

commissions from sales—their share of the earned broker-

menauer residential real estate business. Significant cash

age fee. The original idea—of turning office managers at

flow shortages at Engel & Völkers could only be solved by

Blumenauer into independent licence partners—met massive

a shareholder loan. Christian Völkers was forced to once

resistance, since managers were reluctant to take on finan-

again use his beloved finca Son Coll and his Hamburg pri-

cial risk. This was unexpected since this had been the main

vate property as collateral. As much as those properties

reason for the Engel & Völkers investment in Blumenauer—a chance to attract multiple licensees in a very short time.

meant to him, the preservation of the company and his vision for a global brand were paramount. The situation grew increasingly worse however, and Christian Völkers was con-

Many of the Blumenauer residential property offices proved

fronted with selling most of the Blumenauer offices. Only

unprofitable. Losses multiplied. Services for marketing and

a small number remained. The buyer declared bankruptcy

accounting, which Engel & Völkers charged to Blumenauer,

for the company a few years later, an act that caused per-

were not paid. With few options, Engel & Völkers gradually

sonal and legal consequences for Christian Völkers.

closed some Blumenauer residential real estate shops and

He navigated his way through this arduous time with advice

integrated the employees into the main company, a step that caused unrest among Engel & Völkers licence partners.

from his lawyer and consultant, Helge Kolaschnik, who counselled Christian to cut his losses and close the book on this gruelling chapter of his life.

The financial reports for the commercial real estate division told a different story. Engel & Völkers benefited from the revenue generated by many Blumenauer commercial offices

Just in the midst of the crisis, a photo was published showing Christian Völkers alongside supermodel, Claudia Schiffer. The press speculated about a possible liaison and the office

By 2000 390 colleagues were already working under the Engel & Völkers flag. The Engel & Völkers real estate por tfolio in Germany is large, ex tending from manor houses to penthouses.

184

on Stadthausbrücke was besieged by television crews and paparazzi. Under the leadership of company spokesperson Princess Bettina Wittgenstein, headquarters restored dignity to the brand with polished professionalism and style.

Wer privat verkauft, weiß nie, wer an der Tür klingelt. Wer sein Haus oder seine Wohnung auf eigene Faust vermieten oder verkaufen will, hat ganz schön zu tun. Manchmal auch mit Menschen, denen man lieber nicht begegnen möchte. Engel & Völkers nimmt Ihnen nicht nur Arbeit ab, sondern auch böse Überraschungen. Wir wählen Ihren Nachfolger schon im Vorhinein sorgfältig aus, damit nicht jeder bei Ihnen klingelt. Oder wir verlegen die Besichtigung ins Internet, sodass Sie erst mal Ihre Ruhe haben. Grund genug, mal bei uns anzuklingeln. Der Immobilienmakler mit dem internationalen Netzwerk: www.engelvoelkers.com info@engelvoelkers.com · Zentrales Service-Tel. +49-40-36 13 10

Bei uns hängen Sie nicht lange.

Kein Anruf, kein Türklingeln – eine gelungene Hausbesichtigung.

Wer sich von seinem Haus oder seiner Wohnung trennen

Wir von Engel & Völkers wissen, dass der Terminkalender un-

möchte, ist mit einem Anruf bei einem unserer XXX Büros

serer Kunden voll und ihnen die Privatsphäre heilig ist. Des-

gut beraten. Nicht nur, weil hier XXX qualifizierte Mitarbei-

halb verlegen wir die Besichtigung Ihres Hauses oder Ihrer

ter Ihr Objekt richtig einzuschätzen wissen, sondern auch,

Wohnung einfach ins Internet. Dort kann jeder, ob Hamburger,

weil hier dank unseres internationalen Netzwerkes ein gro-

Münchner oder Mallorquiner sich in aller Ruhe den Grundriss

ßer, solventer Kundenkreis auf Sie wartet. Somit ist Ihr Haus

anschauen, durch alle Räume spazieren – während Sie ein ent-

eigentlich schon verkauft, bevor es überhaupt hängt. Grund

spanntes Bad nehmen. Grund genug, mal bei uns anzuklingeln

genug, nicht lange zu zögern und uns anzurufen.

oder uns im Internet zu besuchen www.engelvoelkers.com

Der Immobilienmakler mit dem internationalen Netzwerk: www.engelvoelkers.com info@engelvoelkers.com · Zentrales Service-Tel. +49-40-36 13 10

Statt Perlenkette. Wenn Sie an Ihren Kindern hängen, sollten Sie dafür

Der Immobilienmakler mit dem internationalen Netzwerk: www.engelvoelkers.com info@engelvoelkers.com · Zentrales Service-Tel. +49-40-36 13 10

Zum Achtzehnten: 45 PS, zum Neunzehnten: 18 Karat und zum Zwanzigsten: 67 m2.

sorgen, daß Sie sie immer um sich haben. Auch wenn

Die schönsten Geschenke sind immer noch die, die einem

sie einmal ausziehen. Lassen Sie sie einfach wieder

selber Freude machen. Wie eine Eigentumswohnung. Damit

einziehen. In eine Eigentumswohnung ganz in Ihrer

bescheren Sie Ihren Kindern die ersten eigenen vier Wände,

Nähe. Für Sie eine gute Kapitalanlage, und für Ihre

sich selbst das gute Gefühl, zu wissen, wo und wie Ihre

Lieben ein gutes Geschenk. Grund genug mal bei uns

Kinder wohnen und eine sichere Kapitalanlage für Ihre

anzurufen. Die Schlüssel liegen schon bereit.

Der Immobilienmakler mit dem internationalen Netzwerk: www.engelvoelkers.com info@engelvoelkers.com · Zentrales Service-Tel. +49-40-36 13 10

Zukunft. Grund genug, mal bei uns anzurufen. Und zwar noch vor dem nächsten Geburtstag, der ansteht. Der Immobilienmakler mit dem internationalen Netzwerk: www.engelvoelkers.com info@engelvoelkers.com · Zentrales Service-Tel. +49-40-36 13 10

20 0 0 O N WA R DS B US I N E S S CH A LLEN G E S

Far more important things had filled the agenda and took priority. Additional funding was required to ensure security, meaning the company asked a new bank to help them refinance. Jochen Döhle acquired ten percent of Engel & Völkers AG, in exchange for a cash investment. His outlay of cash helped ease the financially burdened company reserves.

The new investment meant priority could be given to global expansion. But this brought new challenges. Offices abroad did not generate the expected revenues, per-

CARSTEN DEECKE

PETER FRIGO

Tax Advisor since 1995

Master Licence Par tner Switzerland since 2003

“We have been par t of the successful development of Engel & Völkers since the mid-1990s and are constantly impressed by the dynamism of the company.”

“We are incredibly proud of how Engel & Völkers developed in Switzerland.”

haps because the distance from the parent company limited the control of their use of marketing and corporate identity tools. Starting in 2003, just when the company was experi-

The mood among employees reached an all-time low. The

encing some financial relief, commercial revenues began to

renowned Engel & Völkers spirit seemed to have all but

decline. At home in Germany, licence partners were facing a

vanished. Christian Völkers’ closest and most valued board

pile-up of claims and were increasingly unable to pay their

members remained loyal to the company, even volunteering

bills. The parent company, with good reason, refrained from

to relinquish their salaries for several months. The joy with

aggressively admonishing their licensees: If Engel & Völkers

which Christian Völkers had previously tackled his daily

had successfully created a large franchise network, it could

workload disappeared. He suffered many sleepless nights,

have handled the potential insolvency of one partner by bal-

fretting about the well-being of his employees and the very

ancing it against the others. But because Engel & Völkers did

existence of his company. At the end of each month, when

not yet have the required number of partners in their network,

the time came to pay the bills, the company teetered

the bankruptcy of one partner endangered the entire system

precariously on the spiked edge of disaster.

and had to be avoided at all costs. Christian Völkers assumed sole responsibility for the guaranFor some shops, debt amounted to almost one million euros,

tees on all loans. Rumours flew and people gossiped about

for others, the amount was far less. However, almost seventy

the company’s inevitable demise. Even Christian’s closest

percent of the licence partners were behind on payments. As

friends grew increasingly sceptical about whether he would

a result, the parent company Engel & Völkers AG—trying to

be able to endure the financial distress.

keep its head above water—was not able to cover the brokerage commision shares owed to its employees.

Once again Christian Völkers would triumph. Using his gift for optimism and his ability to find shards of light in shadowy corners, Christian convinced his board of directors that his company had a future. He assured his colleagues that his concepts were strong, and—by implementing his ideas—he persuaded friends and sceptics that the company would survive. He drew courage and positive energy from many people

Humorous and creative Engel & Völkers adver tising campaigns were intended to appeal to both sellers and buyers.

in his life, but mostly from his future wife, Ninon, a woman

The international press follows the career of Christian Völkers and the evolution of his company with close interest.

financial situation. With gratitude, optimism, and a dose of

who believed in Christian’s vision, regardless of the tense bald-faced bravery, Christian Völkers soldiered on.

189

HARD FACTS TIMELINE

1980 Relocation to Office at Elbchaussee 414

1977 Founding of the Company Engel & Cie

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

1995 Opening of the In-House Proper ty Academy

LOCATION

The expansion of the licence par tner business in Germany and abroad presses on. And from headquar ters in Hamburg, the business segment Engel & Völkers Resor ts offers its ser vices throughout the rest of Europe.

MARKETING TOOLS

FIBEL

MOTTO

LOGOS

“YOU’RE ONLY

AS GOOD AS THE PEOPLE

1998 Launch of the Franchise Par tner System

YOU HIRE.”

2004 Founding of the Resor ts Business Division

RAY KROC

SHOPS & OFFICES

1978

1981

1984

1987

1990

1993

1996

LUCKY NUMBER

1999

in mill. EUR

REVENUES

10.8

12 10 8

5.5

6 4 2

0 1978

1.5 1981

2.1

1984

2.8

1987

6.6

13 In the year 2000, Engel & Völkers is a leading real estate ser vice provider with 23 shops in Germany and two based abroad, with 13 licence par tners in total on board.

NAME DROPPING

3.4

1990

1993

1996

1999

EMPLOYEES & AGENTS 500

400

450

HELGE KOL ASCHNIK Legal Advisor since 1998

400

300 300

200 200

100

1 1978

4 1981

30 PETER FRIGO

1984

1987

1990

1993

1996

1999

Master Licence Par tner Switzerland since 2003

2000-2004

The Explosive Lift-Off of the New Economy and the Internet

Internet

Back

Forward

URL Google

Reload

Stop

Home

Hotlist

Smaller

www.PropertyGate.com → www.immonet.com engelvoelkers.com

Larger

2 0 0 0 – 2 0 0 4 T H E E X P L O S I V E L I F T- O F F O F T H E N E W E C O N O M Y A N D T H E I N T E R N E T

“An entrepreneur must recognise the right time to establish a new system–when introducing the shops, implementing the franchise system, or entering the digital age.”

The new economy promised fresh opportunities for exploration. In 2000 no one was talking about start-ups— and the Internet was not uniformly recognised as the com-

that imitated the Times Square New Year’s Eve celebration in Manhattan, Engel & Völkers launched the website PropertyGate.com to assorted media, VIPs and members of

munication tool of the future. But Christian Völkers had

Hamburg society. Christian Völkers worked with the best

been actively involved with the exploration of digital

event planners in Germany—together they organised an

marketing for some time. Fascinated by the idea of developing

unforgettable party in the courtyard of the office building. As

his own digital real estate portal, he gathered a few eager

darkness fell, Christian Völkers requested silence and began

investors, and asked Felix von Saucken, Thilo von Trotha, and

a seemingly solemn ceremony. Then, to the surprise of his

the IT specialist Miguel Ruth to help make it happen. The

guests, he pressed a button, which launched the projection of

famous Engel & Völkers spirit had finally returned, fuelled

a virtual rocket traveling up the building’s scaffolding and high

by the vision of a company-owned Internet portal for the exclusive use of all brokers. Office space—rented in the city centre of Hamburg—presented the digital division to the world as a separate entity. In the spring of 2000, at a party

into the sky. With deafening fireworks, the rocket exploded and morphed into a rising sun. The expensive and symbolic start to a new era caused the desired effect. After two years, the portal was sold to a German publisher—the Axel Springer

195

2 0 0 0 – 2 0 0 4 T H E E X P L O S I V E L I F T- O F F O F T H E N E W E C O N O M Y A N D T H E I N T E R N E T

Verlag—and was renamed Immonet. It went on to become one of Germany’s most popular and frequently used online real estate portals. Proceeds from this sale propelled the expansion of Engel & Völkers. The directors of Property Gate, Felix von Saucken, Thilo von Trotha and Miguel Ruth continued their work at Engel & Völkers in various different capacities: Felix von

MIGUEL RUTH

Saucken acquired the licensing rights in Frankfurt; Thilo von

Head of IT (2002–2013)

Trotha became the new CFO of Engel & Völkers AG; Miguel

“The founding of Proper ty Gate and the later expansion of the Engel & Völkers IT depar tment are impor tant milestones in my professional career.”

Ruth took over the management of the IT department.

The real estate industry also became involved in Internet activity. In addition to the use of email as a new form of communication, electronic search engines were proving useful to potential buyers.

remained on the development of his franchise system. Along with Sven Odia, who travelled tirelessly back and forth to the Mediterranean region, Christian found new licence partners. New markets were opening up. In 2002, thirty-five new partners received contracts for shops, including locations in Italy, Portugal and the United

Engel & Völkers developed its first homepage, which catered to those conducting digital searches for real estate. The new page introduced the company to first-time visitors and

Kingdom. This increase in the number of new partners brought several unforeseeable challenges. Engel & Völkers responded to requests from Mediterranean countries and

familiarised the digital audience with its brand. The home-

accepted partners to boost the growth of the company, rather

page of Engel & Völkers also acted as a new distribution

than focusing on a more calculated, country-by-country strat-

channel for the franchise business. Potential partners could

egy. Many of the new licensees were entrepreneurs from a

now learn more about the company online, and read about

variety of industries—smart business people with a knowledge

all the advantages of acquiring a franchise licence.

of their own regions, but lacking expertise in the real estate business. Disillusion prospered, as revenue did not meet

Christian Völkers—noting the need for ambidexterity in his

expectations. The low return on investment was particularly

business model—was now equally dedicated to the exploration

noticeable in Italy, where the north and south regions of the

of the digital “new economy” and the further exploitation and expansion of the shop concept. His focus, however,

country have marked differences in cultural and business practices. Many new partners struggled with English when

Early on, Engel & Völkers believed in the digital marketing of real estate. With Proper ty Gate, they were pioneers in the digital world. Licence par tner meeting on Majorca in 2003, at the Museum of Modern Ar t “Es Baluard” in Palma. Excerpts from the Engel & Völkers Proper ty Gate adver tising campaign. Today, the company operates under the name “Immonet”.

Aachen Aalen Aarau Affoltern am Albis Albufeira Alfaz del Pi Algarrobo Alicante Altea Amrum Amsterdam Centrum Amsterdam Commercial Amsterdam Zuid Andorra Andorra Antofagasta Antwerpen Centrum Apoquindo Artá Aschaffenburg Ascona Ascona Commercial Aspen Atlanta Atlanta North Fulton Augsburg Augsburg Commercial Aurich Austin Domain Austin Lakeway Austin Westlake Aveiro Bad Homburg Bad Honnef Bad Kleinkirchheim Bad Kreuznach Bad Nauheim Bad Neuenahr Bad Oldesloe Bad Reichenhall Bad Salzuflen Bad Segeberg Bad Tölz Bad Vilbel Bad Zwischenahn Baden-Baden Baden-Baden Commercial Baden/Bremgarten Bahamas Bamberg Barcelona Sitges Bari Commercial Basel Basel Commercial Basel-City Baton Rouge Bayreuth Belleair Benidorm Bensheim/Hess. Bergamo Bergisch Gladbach Berlin Charlottenburg Berlin Commercial Berlin Frohnau Berlin Grunewald Berlin Köpenick Berlin Lichtenrade Berlin Lichterfelde-Ost Berlin Lichterfelde-West Berlin Mitte Berlin Projekte Berlin Spandau Berlin Zehlendorf Bern Bern Commercial Beverly Hills Biberach Bielefeld Bielefeld Commercial Bielefeld Obernstraße Bietigheim-Bissingen Bilbao Bilbao Commercial Bloubergstrand Bluffton Bocholt/Wesel Bochum Bodrum Bologna Bologna Centro Bolzano Commercial Bonita Estero Bonn Bonn Commercial Bonn Oberkassel Borkum Boston Boston Back Bay Bozeman Bozen Brasschaat Braunschweig Braunschweig Commercial Bregenz Bremen Bremer Viertel Bremen Commercial Bremen Neustadt Bremen Nord Bremen Oberneuland Bremen Schwachhausen Bremerhaven Brescia Bromont Brookhaven Atlanta Bruchsal Brugge Brussels Projects Brühl Buckhead Atlanta Budahill Center Buxtehude

Bülach Cachagua Cadaqués Calera de Tango Calgary Calgary Aspen Landing Calpe Camps Bay Cape Coral Cape Town City Bowl Carlsbad Carrasco Montevideo Cascais Castelldefels/Gavá Cayman Islands Celle/Soltau/Fallingbostel Centurion Cerdanya Cernobbio Chemnitz Chicureo Chiemsee Chur Civitanova Marche Clearwater Clermont Collingwood Concepción Concord Cortina Coruña Costa Adeje Cuxhaven Côte d’Azur MMC Dachau Dallas Flower Mound Dallas Southlake Darmstadt Davos Deià/Valldemossa Del Mar Delmenhorst Delray Beach Denia Desenzano del Garda Destin Deutschland AFS Dietikon Doha Doha Commercial Dortmund Commercial Dortmund-Mitte Dortmund-Süd Dreieich Dresden Blaues Wunder Dresden Commercial Dubai MMC Dubai MMC Commercial Durbanville Düsseldorf Carlstadt Düsseldorf Commercial Düsseldorf Oberkassel East London Ebersberg Echterdingen Eckernförde/südliche Schlei Eden El Golf Elmshorn Emden Emden Commercial Empuriabrava Erfurt Erfurt Commercial Erlangen Essen Essen Commercial Esslingen Estoril Euskirchen Eutin/Plön Falmouth Fethiye Firenze Michelangelo Fischland /Darß /Zingst Flensburg Flims Fort Jaco Fort Lauderdale Las Olas Fourways - Broadacres Frankfurt City Frankfurt Commercial Frankfurt Nordend Frankfurt Projekte Franklinton Frauenfeld Freiburg Commercial Freiburg im Breisgau Freising Friedrichshafen Front Range Fulda Föhr Fürstenfeldbruck Fürth Füssen Garmisch-Partenkirchen Gelsenkirchen Gent-Centrum Gent-Zuid / Sint-Martens-Latem Gera Giessen Commercial Gießen Goldküste Küsnacht Goldküste Rapperswil Goldküste Zürichberg Groß-Gerau Gstaad Göppingen Göttingen

Gütersloh Hagen Hagen Commercial Halle Halle Commercial Hamburg Alster Hamburg Barmbek Hamburg Bergedorf Hamburg Commercial Hamburg Elbe MMC Hamburg Harburg Hamburg Marienthal Hamburg Niendorf/ Schnelsen Hamburg Projekte Hamburg Volksdorf Hamburg Wellingsbüttel Hanau Hannover Commercial Hannover Gehrden Hannover Großburgwedel Hannover Kirchrode Hannover Mitte Hartbeespoort Dam Hattingen Heide-Kalmthout Heidelberg Heilbronn Heiligendamm / Kühlungsborn Heinsberg Henderson Hilden Hildesheim Hilton Head Hoboken Hoedspruit Hondarribia Hong Kong MMC

Hotel Consulting Houston Hua Hin Husum Hyde Park Höri Ibiza Inca Ingolstadt Innsbruck Innsbruck Commercial Interlaken Intown Atlanta Investment Consulting Jackson Hole Jena Jena Commercial Jesolo Jever Juist Jupiter Jávea KZN Lower South Coast/ Margate KZN North Coast Kaiserslautern Kalk Bay & Surrounds Kampen Karlsruhe Karlsruhe Commercial Kassel Kassel Commercial Kelkheim/Taunus Kempten Kempten Commercial Key West Kiel Kiel Commercial Kinsale/ Cork Kitzbühel Klagenfurt Koblenz Koblenz Commercial Konstanz Konstanz Commercial Krefeld Krestovskiy Kreuzlingen Kreuzlingen Commercial Kreuztal Kronberg Köln Commercial Köln Lindenthal Köln Rodenkirchen Köln-City Köln-Projektvertrieb Königstein Kühlungsborn Commercial L’Escala La Dehesa Central La Florida

La Reina La Serena Lafayette Lago D´Iseo Lagos Laguna Beach Lake Charles Lake Norman Lake Placid Lake Tahoe Landau Landsberg am Lech Landshut Langeoog Lansdowne Las Vegas Lasne Laveno Lecce Leer Leichlingen Leipzig Commercial Leipzig Löhrs Carré Leipzig Zentrum Leonberg Liestal

Lindau Lingen Lingen Commercial Linz Lissabon OrienteParque das Nacoes Livingston Liège Llucmajor Locust Valley London Chelsea Lonehill Long Beach Long Beach New York Los Angeles MMC Los Angeles South Bay Los Cabos Los Domínicos Los Trapenses Ludwigsburg Ludwigshafen Lugano Lugano Commercial Lugano Paradiso Luxembourg Luzern Luzern Commercial Luzern-Land Lörrach Lübeck Lüdenscheid Lüdenscheid Commercial Lüneburg MC Barcelona Commercial MMC Barcelona MMC Bogotá MMC Lake Geneva MMC Madrid Madeira Beach Madrid Barrio Salamanca Madrid Commercial Madrid La Moraleja Madrid Mirasierra Madrid Sanchinarro Madrid Torrelodones Magdeburg Commercial Maintal Mainz Majadahonda Malta MMC

Malta MMC Commercial Mandeville Mannheim Mannheim Commercial Marathon Marbella East Marbella El Rosario Marbella Golden Mile Marbella West Marbella-Puerto Banús Marburg Marco Island Maresme Alella Maresme Mataró Markham Matadepera Mechelen/Keerbergen Melbourne Memmingen Menorca Nord/Mahón Merano Miami Coral Gables Miami Sunny Isles Beach

Midrand Milano Centro Storico Milano Commercial Milano Fiera Milano Porta Romana Milano Porta Venezia Minden Minneapolis Blaine Minneapolis Downtown Minneapolis Northeast Modena Moers Monaco Yachting Monmouth County Montabaur Montgomery Montréal Montréal Outremont Montréal Westmount Monza Brianza Moordorf Moraira Muscat/Oman Muskoka Málaga East Mödling Mönchengladbach Mönchengladbach Commercial Mülheim Commercial Mülheim a. d. Ruhr München Bogenhausen München City Center München Commercial München Nordost München Nymphenburg München Schwabing München Waldtrudering Münchner Süden Münchner Westen Münster Münster Commercial Nanaimo Neumünster Neuss Neustadt a. d. Weinstraße

New Orleans Historic New Orleans Metairie New York City MMC Newport Beach Niagara Nieblum Nivelles Norden /Norddeich Norderney Norderney Commercial Norderstedt Nordheide North Atlanta Nueva Costanera Nürnberg Nürnberg Commercial Nürnberg Zentrum Ñuñoa Oberursel Österreich Investment Offenbach Okanagan Okemo Olbia Olde Naples

Oldenburg Orihuela Orlando Winterpark Ortenau Osnabrück Ottawa Central Ottobrunn Paderborn Palermo-Mondello Palm Beach Palma Beach Palma Centre Palma Southwest Pals /Begur Pamplona Papenburg Papenburg Commercial Paris MMC Park City Passau Pavillon d´Ixelles Peralada-Empordà Pescara Commercial Pforzheim Phuket Place Brugmann Place Dumon Platja D Aro Plattekloof Pollensa Pontevedra Commercial Port Elizabeth Port Elizabeth Commercial Portals Porto Cervo Potchefstroom Potchefstroom Commercial Potsdam Potsdam Commercial Prag Commercial Prague Andel Pretoria New East Pretoria Waterkloof Prien Commercial Providencia Oriente Pucon Puerto Alcudia

Puerto Andratx Puerto Pollensa Puerto Varas Puerto de la Cruz Pulheim/Königsdorf Punta del Este Quinta do Lago Vale do Lobo Québec Ragusa-Modica Rancagua Rancho Santa Fe Ratingen Ratzeburg/Mölln Ravensburg Recklinghausen Regensburg Regensburg Commercial Rellingen Restelo Reutlingen Reñaca Rhein-Neckar Projekte Rheinfelden Rheingau Rheintal Rhodes North Richmond Richmond Hill Roaring Fork Rocas de Santo Domingo Rome MMC Rorschach Rosenheim Rosenheim Commercial Roses Rostock Rostock Commercial Rostock Projekte Rügen Saarbrücken Saarlouis Sablon Sachsenhausen Sachsenwald San Francisco San Francisco South Beach San Sebastián Sandton-Bryanston

Sanremo Imperia Sant Just Sant Pol de Mar Santa Barbara Santa Eulalia Santa Maria Santa Maria Santa Monica Santa Ponsa Santander Santanyi Santiago Centro Santiago Chile Commercial Sausalito Savannah Schaffhausen Schilde Schleswig/nördliche Schlei Schwarzenbek Schwerte Schwetzingen-Hockenheim Schwäbisch Hall Scottsdale Scuol Sea Point Seefeld Seeheim-Jugenheim Seevetal Seligenstadt Sherman Oaks Siegburg Siegen Siena Sindelfingen Singen Singen Commercial Sinsheim - Mosbach Sintra Siracusa Slidell Solothurn Somerset West Son Vida incl. Palma Umland Sonoma Sotogrande South Boston South Charlotte South Island South Tampa Southern Suburbs Spa Speyer St. Gallen St. George St. Johann St. Moritz St. Peter-Ording St. Petersburg Central St. Petersburg Kurortniy

Starnberg Steinhuder Meer Stellenbosch Stockholm South-East Stuart Stuttgart Commercial Stuttgart Feuerbach Stuttgart-Degerloch Stuttgart-Mitte Stuttgart-West Sun Valley Sóller/Puerto de Sóller Südliche Bergstraße Taormina Etna Taos Tarragona Tegernsee The Parks Thüringen Projekte Timmendorfer Strand Toronto Central Toronto Uptown Torrevieja Tremblant Trier Truckee Truckee Donner Tschechien AFS Tysons Tübingen Überlingen Ueberlingen Commercial Ulm Unna Uptown Charlotte Urschweiz Usedom Usedom Commercial Usingen Vaduz Vaduz Commercial Vail Vail Beaver Creek Valais Valdivia Valencia Centro Valencia MMC Valle d’euro; Aosta Vancouver Vancouver Island North Vancouver Kerrisdale Varese Velbert Venezia Verbania Verden Verona City Viareggio - Forte dei Marmi Victoria Victoria Oak Bay Viersen Vieux Montréal Vigo Vilamoura Villingen-Schwenningen Viña del Mar Waiblingen/Remstal Wallisellen Wangerooge Warnemünde Wasatch Waterloo Wavre Weimar Weinfelden Wellesley Wellington Wels West Hartford West Hollywood West Portland West Rand West Vancouver Westerland Westlake Village Weyhe Wien Wien Commercial Wiesbaden Wiesbaden Commercial Wiesmoor Wil Wilhelmshaven Winterthur Wismar Witten Wolfenbüttel Wolfsburg Worms Wuppertal Wuppertal Commercial Wustrow Commercial Wörthersee Würzburg Würzburg Commercial Yachting Antibes Yachting Bodrum Yachting French Riviera Yachting Malta York Zapallar Zaragoza Centro Zell am See Zug Zug Commercial Zürich Commercial Zürich Oberland Zürich Oerlikon Zürich Paradeplatz Zürichsee Freienbach Zürichsee Thalwil

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DIANA WOJAHN

HADI TEHER ANI

JENS HELMS

TIMO KHAMMASH

Head of Proper t y Development (1995 –2009)

Architec t

Investor Proper t y Gate

Master Licence Par tner Florida At E&V since 1996

“Working with Christian involves repeatedly placing even the best ideas in question and optimising them. This leads to outstanding results! It was a formative time that I would not have missed for the world.”

“My shared histor y with Christian Völkers began back in our school days. The Dockland projec t would probably not exist without Christian‘s idea to create a struc ture that has the potential to become a landmark.”

“Our friendship goes back for ty years. We have been neighbours for twenty-two years. We have obser ved much of Christian‘s life, which has been both amusing and exciting.”

“I am especially proud to have been a par t of Engel & Völkers for the last twenty-three years. We have been able to achieve this for t y-year milestone through the hard work and dedication of our net work and skilled client ser vices.”

dealing with the parent company, and the ensuing language

licences without having to be recruited, because they recog-

barriers triggered communication difficulties. Like so many

nised the power and advantages of the brand.

times before, the introduction of a new concept caused the company to scuffle somewhat. As before, two steps forward followed by one step back dictated the process. The beat went on, a soundtrack that tested Christian’s patience. Finally, he conquered overwhelming language and cultural

project that was both challenging and close to his heart. Since 1998, he had been working alongside Diana Wojahn and Ninon van Aalst, a dedicated young lawyer, on the develop-

barriers by hiring local managers. With knowledge of their

ment of an exciting construction project in Hamburg—the

respective regional customs and languages, they could pro-

Docklands. Christian envisioned a building shaped like a

vide local support and guarantee compliance with laws and traditions. By keeping a close relationship to the Hamburg headquarters, they could effectively observe the rules established by the Engel & Völkers Manual. Slowly the international real estate market was beginning to recognise the

parallelogram that would resemble a ship’s bow and stretch forty metres above the Elbe River on territory that didn’t yet exist—it would hover over Hamburg’s famed harbour. “My friend Hadi Teherani had sketched out the first idea,” recalls Christian Völkers, who was so taken by the plans that he

Engel & Völkers brand, a phenomenon that helped with the

even welcomed the heated political discussion necessary to

additional recruitment of qualified licence partners in new

greenlight the project. Christian’s long-time assistant, Sabine

territories. New licence partners now started asking for

The red ball is seen all over the Engel & Völkers marketing world. The shops, situated around the globe, are recognisable by their standardised appearance. Engel & Völkers Development GmbH projec ts in Hamburg: the “Stadtparkquartier” in Winterhude; the proper ty on Elbe island Wilhelmsburg— created as par t of a case study of the International Building Exhibition— and the renovation of the former hat and cap fac tor y in Barmbek.

200

During this time, Christian Völkers continued to work on a

Blesel, who has worked with Christian since 1992, recalls,

“What I find so charismatic and distinctive about Mr. Völkers is his perseverance. When he sets himself a goal, he believes in it so completely. He follows through with an immense amount of energy, despite the obstacles.”

The Dockland in Hamburg’s port, project undertaken by E ngel & V partnership with the renowned arc

the first development ölkers, was realised in chitect Hadi Teherani.

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Later, Engel & Völkers sold the Docklands construction

his licence partners in their territory with new shop loca-

project to the developer, Robert Vogel. Ninon van Aalst took

tions. Peter Frigo, as the master licence partner in Switzer-

over the management of the project at Engel & Völkers and

land, has always set the best example of this innovative plan.

oversaw the completion of the building, designed by BRT

Years ago, after initiating a telephone conversation with

architects Bothe Richter Teherani at the end of 2005. Engel &

Christian Völkers, the two men met and quickly decided to

Völkers used the proceeds from the sale to the further expan-

work together. A double victory resulted: Peter Frigo benefited

sion of the company. This would not be Ninon von Aalst’s

from the Engel & Völkers brand, and Christian Völkers could

last important project—in May 2009, Ninon masterminded

now add a red flag pinned on Switzerland to his world map

the construction of the Engel & Völkers School in Togo, a philanthropic project that nurtures sustainability and

of partners. The exchange between the men was always amiable, with Peter encouraging his new partner with both

teaches skills that are aimed at fostering independence. As

constructive criticism and expert advice. The rewarding

Christian’s wife, she continues to dedicate her unwavering

relationship remains very strong to this day, long after many

energy to this inspirational project.

other master licences have been bought back by the parent company of Engel & Völkers.

At the end of 2002, a system of granting master licences was introduced: a qualified licence partner could be awarded an entire region in a particular nation, or in some cases the entire country. In turn, the master licence partner had to oblige

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“Nobody knew back then how to apply the theory of the master licence in practice,” recalls Peter Frigo, who fell back on the “learning by doing” technique to help him divide

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Switzerland into suitable territories. Using rivers in the Alps to guide him, he divided the country into fifty territories.

was awarded in the Middle East, in Dubai, where the unfamiliar culture required swift action and a crash course in

These territories were gradually awarded to licence partners,

local business practices. Legislation did not allow a Europe-

all of whom were personally supervised by Peter Frigo.

an company to establish a business that was privately owned

Because of Peter’s personal involvement in overseeing the partners, the Swiss master licence model worked more efficiently than those in other countries. The Swiss entre-

by the company. The development of the Engel & Völkers brand in Dubai was only possible with a Dubai partner who was already established in the UAE. This posed no prob-

preneur—a real estate man himself—understood the business

lem for Christian Völkers, who, as a personal guest at an

of selling property and welcomed the marketing tools offered

exclusive horse race, got to know several important Dubai

by Engel & Völkers. He grasped the importance of the common

personalities. He made a business arrangement with a strong

corporate identity and the associated rules and regulations. Dividing the country into many smaller regions guaranteed increased control of individual locations and a healthier,

partner and delighted in discovering that selling a property in Dubai was similar to selling a property in Hamburg. Aside from being in Arabic, the Engel & Völkers brand commu-

local market penetration. The master licence partners in oth-

nication stayed almost the same. In 2004 another location

er regions did not have this advantage. One master licence

opened in Dubai and new master licences were granted in

included the entire countries of Belgium and France, while

Eastern Europe and Italy.

in Italy the whole country was looked after from one small town. The Swiss success seemed almost a throwback to the original philosophy at the Elbchaussee office, where each broker knew the nooks and crannies of almost every square metre of their territory. In the euphoria of rapid growth, it was important to be reminded of the company’s core values.

Only those who worked closely with Christian Völkers could keep pace with the company’s rapid development.

Attention to detail could not be properly managed in cases where the coverage of vast geographical areas was involved.

Friends who watched the intensification and expansion of his business from the outside were often incredulous. Even his

Over the next few years, the investment strategy began to pay off. Starting in 2003, Christian Völkers had converted all commercial offices, except Hamburg, into licence partner offices as part of a management buy-out tactic. The Engel & Völkers financial recovery began in 2004.

close confidant, Jens Helms—who has always been an influential figure in Christian’s life—got carried away and made a bet, jokingly, that Christian could not possibly achieve his growth targets in such a short time. Jens turned out to be right—but the bet, not taken seriously by either man, helped make Christian more determined than ever.

Meanwhile, Sven Odia’s acquisition trips were no longer limited to the Mediterranean. In 2003, the first master licence

Around this time, Timo Khammash, who had previously completed his business training as a real estate agent at Engel & Völkers—and would later acquire the master licence for Florida—spoke with Sven Odia about going to the US for Engel & Völkers. It was Timo’s strong desire to be Engel & Völkers’ first partner in the USA. He wanted to start in Naples, Florida—the sunshine-drenched home away from home for many Germans. Since the Florida market was a completely new territory for Engel & Völkers, Sven Odia supported his friend by personally overseeing the start of the business.

As par t of its global expansion, the Engel & Völkers management team travels to the Middle East and attends the Dubai World Cup together with the new par tner and friends.

The men rented two rooms in an office building in Naples, delighted in the balmy weather, and for a while, remained blissfully unaware of the difficulties they would soon face.

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HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

LOCATION

1990 Opening of the First Office outside Germany

LUCKY NUMBER

50 The Swiss proper ty market is the first to be divided up into 50 sub-regions, all managed by one master licence.

LOGOS

The market expands further with licences in England, Portugal, Spain, Italy, Switzerland, first regions in Eastern Europe, and Dubai.

MARKETING TOOLS

1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes 6. Flag 7. Christmas Tree 8. Engel & Völkers Manual 9. Dresscode 10. Hanging Sign 11. GG Magazine 12. Proper ty Exposés 13. Adver ts 14. Guerilla Marketing 15. n-tv 16. Personality 17. Red Line 18. Academy 19. Sailing 20. Internal Networking Par ties 21. Shop System 22. Licence Contrac t 23. International Expansion 24. E-Mails 25. Website 26. Online Proper ty Por tals

1995 Opening of the In-House Proper ty Academy

1998 Launch of the Franchise Par tner System

2004 Founding of the Resor ts Business Division

2007 Founding of the Yachting Business Division

SHOPS & OFFICES

MOTTO

1978

1981

1984

1987

6 1990

1993

2007 Opening of the Private Office in London

1996

THINK

BIG NAME DROPPING

1999

2002

in mill. EUR

REVENUES

17.4

DIANA WOJAHN Head of Proper t y Development (1995 –2009)

10.8

0 1978

1.5 1981

2.1 1984

2.8

3.4

1987

1990

5.5

1993

6.6

1996

1999

2002

EMPLOYEES & AGENTS

MIGUEL RUTH

600

500

400

450

500

Head of IT (2002–2013)

300

200

100

1 1978

4 1981

30 TIMO KHAMMASH

1984

1987

1990

1993

1996

1999

2002

Master Licence Par tner Florida At E&V since 1996

The Importance of Sustainability

Little Kokou Amelor is an ac tive pupil. Like his classmates, he pays close attention to his lessons. Ninon Völkers, Chairperson of the Engel & Völkers Charity Board of Direc tors

Education plays a critical role in improving the future prospects for children in Africa. With the Engel & Völkers Charity, we have set up a school centre in Togo, West Africa, where some 160 children are currently receiving a school education. How did this come about? And why Togo? It was a chance trip that had unexpected consequences: Back in 2006, my mother, Ingrid van Aalst, travelled—for the first time—to Togo, a predominantly agricultural country situated on the Gulf of Guinea, to work as an interpreter. In this part of the world, around two thirds of the population make a living from agricultural activities. There, my mother met the customs inspector, Elias, who invited her to visit the village of Agbetiko, located appoximately 120 kilometres northeast of the capital Lomé. For my mother, a retired teacher, this visit completely changed her original reasons for being there. She became determined to help the children of Agbetiko, many of whom were orphans. She made repeated visits to the village, met the villagers,

The Engel & Völkers Charity—together with Ingrid van Aalst and her team—took uncultivated land and turned it into a school centre and student canteen. Local residents are always on hand to offer their help and advice. The official dedication ceremony included officials, clergy, and inhabitants of the village. Ingrid van Aalst in her royal robe, with Elias Yahwo Ahadzi, the local on-site par tner from the village.

learned their customs and traditions, and began to understand their most urgent needs. Two years later, at Christmas in 2008, she asked my husband and me for help in realising her vision of building a primary school. In many ways, the school started as a family project. The initial ideas for the school building took shape as we sat together at the kitchen table with the first plans for the school. Just a few months later, in 2009, we founded the Engel & Völkers Charity and laid the foundation stone for a three-room Engel & Völkers School. I had the privilege of being present as twenty children began their nursery education in September. The first school building served as the prelude to a series of projects that have already been completed or are still in the construction or planning phases. In addition to the school, we have built an orphanage next door, thanks to the support and generosity of Engel & Völkers employees, licence partners and private donors. Their sponsorship continues, enabling the construction of a second school building and a three-metre high wall around the entire school grounds to ensure the safety of the children and of the facility. We now have a real school centre. Since 2017, pupils enjoy two daily meals, with food sourced from local farmers, in a school cafeteria— as opposed to eating in their classrooms. Village dressmakers sew the school uniforms—and for many of the children these are the only items of clothing they own. In future, we want to expand the activities of the Engel & Völkers Charity. The next construction projects include an infirmary, as well as a secondary school where children can learn about agriculture and livestock. The centre will one day feature a farm where students can apply what they have learned to the sale of products grown on the farm, thus contributing to the future upkeep of the school. By offering a path to self-sufficiency and independence we hope to achieve the long-term goal of the Engel & Völkers Charity—to eventually turn the project over to the villagers. Sustainability matters to us. The children start in preschool at the age of four, then receive a six-year academic education, followed by four years of training at the Collège Agro Pastoral, which is focused on natural sciences. When the school farm is finished, we want our pupils to take their experience and use it to cultivate their own fields, increasing their yield

A 2016 aerial view of the walled school grounds alongside Mont Agou, the highest mountain in Togo. Children on their way to school—some of them walk almost two hours through the bush to get there. The traditional road sign leading to the village centre points to the school and the attached orphanage.

Scenes from the day-to-day running of the school. Each of the desks were handcraf ted in the village and bear the names of respective donors who donated the desks as par t of a Christmas charity campaign.

Ninon Völkers and her mother, Ingrid van Aalst, together with teachers and pupils at the school centre. Along with discipline and diligence, spor ts and ex tra-curricular ac tivities play impor tant roles in the lives of the pupils.

and ultimately improving their overall standard of living. The knowledge they have acquired remains in the village, benefitting not only the children, but also the environment— a great source of pride for the people of Agbetiko. By making a small contribution to sustainable development in this region of Togo we are helping Agbetiko’s inhabitants gain a sense of security for the future. A photo from the early days. A large banner points to the construction of the school centre. Ninon Völkers in 2015 with her mother, the helpers, the German ambassador, and the kindergar ten teacher. The teachers Mawufemo, Zina, and David— as well as scenes from the classroom.

Even though we have already successfully completed many projects and are developing others, we still face the challenge of guaranteeing ongoing operations until the farm income can ensure the future of the school complex. These issues include the maintenance and repair of the buildings—a constant problem in the tropical climate with its rainy seasons. We must also maintain and finance basic medical care for the children, school uniforms, food, furniture, and the salaries of the teachers and the materials they need. We actively involve the inhabitants of the village, tap into our own experience, and invite our specialists for advice. All maintenance work is carried out by German construction workers alongside local craftsmen. Both parties benefit from their shared experiences, profit from a learning by doing approach, and find the best possible solutions together. Anything that is not available in Agbetiko—like the wood for hand-made school desks—is procured in nearby regions. Financial control is critical. My mother and her team of volunteers are most conscientious and ensure every penny is used to support the project for which it has been planned. Even when facing difficulties and confronting new tasks, the Agbetiko village project is a labour of love. Not only for those of us who are hands-on, but for the Engel & Völkers family— they remain committed to helping us with new concepts and fundraising activities. We’ve yet to encounter an obstacle too big for us to handle. Our passion for this project stems from one clear belief: We will do all we can to give the children at our school a sustainable, independent future.

2005-2012

Germany, the USA, and Global Development

HAMBURG

NEW YORK

LOS ANGELES

LONDON

BELIZE CIT Y

CAPE TOWN

GR AND CAYMAN

VANCOUVER

SANTIAGO DE CHILE

LOS CABOS

HONG KONG

LISBON

ST. PETERSBURG

OMAN

DOHA

NASSAU

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“We link together the aspirations of discerning individuals around the world, be it in a private or a business context. With total passion.”

To successfully enter the US real estate market, Engel &

ny had expanded to twenty-five locations, and new master

Völkers needed to clear many hurdles. The first of these ob-

licences were issued in Belgium, Luxembourg and France.

stacles involved understanding the complicated, unfamiliar legal system governing franchise law. These laws stipulated that franchise licences may be granted only when a privately-owned office—in the USA—showed a successful track

2006 was a booming year for Engel & Völkers. Almost every forty-eight hours, a new shop opened somewhere in the world. The rapid expansion instigated a breakup of cooperation partners: Since 1985, Engel & Völkers had enjoyed

record as a master licence holder. After the opening of

a thriving collaboration with the world’s two most famous

the first location in Naples, it would take several years for the

auction houses, Sotheby’s and Christie’s. Now that Engel &

coveted approval—the Franchise Disclosure Document— to be granted. In preparation for this, the company opened a headquarters in New York City and began managing some initial real estate transactions in the Hamptons.

Völkers had shops in regions where the auction houses operated their own real estate offices, a complicated competitive situation arose. In 2003, the cooperation with Sotheby’s International Realty was brought to an amicable close. Then in 2006, Engel & Völkers and Christie’s Great Estates also

Meanwhile, the commercial real estate business in Germa-

reached an agreement to part ways for the same reason.

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After taking the first steps in the new world with the opening of the Naples, Florida location, Engel & Völkers moved to Chile. In 2006, the granting of a master licence in Santiago began another successful phase in the Engel & Völkers global expansion history. This was largely due to the involvement of shipping entrepreneur Jochen Döhle, Christian’s close friend and a shareholder in the company. Jochen Döhle owned a winery in Chile, had diverse business interests in South America, and possessed a profound knowledge of the Chilean real estate market. He was an ideal partner and, as a shareholder of Engel & Völkers, familiar with the Engel & Völkers corporate identity and system. The European mindset of the Chileans—facilitated by the many Germans living in the country—also helped with the rapid establishment of the brand. Due to Jochen Döhle’s consistent implementation of Engel & Völkers’ core values and his net-

THILO VON TROTHA

CHRIS LIEM

CFO

Licence Par tner Hong Kong since 2009

“Engel & Völkers is a mix of an internationally established company and a permanent star t-up. With the strength of the brand behind us, we are continuously expanding and digitising, and leave no stone unturned.”

“The Hong Kong office was opened as par t of the company’s global expansion in 2006. It is the most remote office in the Engel & Völkers network, and represents skill, grit and determination in an ultracompetitive market.”

working with Engel & Völkers offices worldwide, the company became the undisputed market leader in Chile. Jochen

Hong Kong promised another exciting opportunity. Because

Döhle, an aficionado of the Engel & Völkers Manual—written

Engel & Völkers had no significant contacts in Hong Kong,

by Christian Völkers in 1986 after the unexpected death of his friend and partner Dirk Engel—adhered its every

the scene was very different from the brand-friendly environment in Chile. As a first task, Christian Völkers and Sven

principle. Down to the tiniest detail, the Engel & Völkers

Odia wanted to discuss their plans with a European bank

philosophy flourished in Chile, even more so than it did

in Hong Kong. Sven recalls their unusual tactic: “We walked

in Germany. All practices defined in the Engel & Völkers

in without an appointment and simply asked for the manag-

Manual—the greeting procedure, the farming of neighbour-

ing director.” They did not get very far that day, but the two

hoods, the use of marketing tools—were followed without

could not be distracted from their plan to conquer the Asian

hesitation. The elegant main office in Santiago even hired

luxury real estate market. In October 2006, the company

trainers and opened its own Academy. By cultivating the

opened its own regional Engel & Völkers headquarters in

exclusive market segment in Chile, Engel & Völkers enjoyed

Hong Kong. It also hired a German managing director who

great success. To this day—having issued almost thirty new

was fluent in two Asian languages. Sven Odia comments on

licences and opened a new commercial division—the main

the success of the brand in general as follows:

office benefits from unprecedented success at the premium end of the Chilean real estate market. Satisfied with the impressive growth in South America, Sven Odia and Christian Völkers embarked on a voyage to

“Our commitment towards positioning the brand was the prerequisite for its success.”

the opposite side of the globe, where the real estate boom in The new challenges however required a flexible approach. Tasks like adapting the Engel & Völkers Manual to suit local Due to varied time zones, an Engel & Völkers shop is always open somewhere in the world. In the run-up to a press conference, Princess Bettina Wittgenstein— along with the owner and CEO of Engel & Völkers Hong Kong, Chris Liem— chose a festive setting to paint the front door of the shop red.

214

needs or customs necessitated adaptability and diligence. The Engel & Völkers Manual dictates that every shop in the world must look exactly the same, with large windows and a black lacquered door. In Europe and America, the brand depended on the black door to help boost corporate identity, a concept that worked well. But in Asia, a black front door

“The big, far-off goal is my constant companion.” CHRISTIAN VÖLKERS

2 0 0 5 -2 0 1 2 G E R M A N Y, T H E U S A , A N D G L O B A L D E V E L O P M E N T

connotes negative karma. So, in an unusual break from the brand, the door was painted in the colour red—a sign of good luck—in an attempt to adhere to local customs.

South Africa and Asia. Friends and business partners, employees, and people with connections to Engel & Völkers attended—everyone accepted the fashionable invitation to Son Coll, Christian Völkers’ finca. Dressed in tuxedos and el-

On the other side of the world, Engel & Völkers was opening

egant summer evening gowns, guests enjoyed the magnificent

its 300th location in southwest Florida.

view of the blue Mediterranean and a kaleidoscopic sunset. After a traditional Majorcan dinner—including red wine

After a joint visit to a boat show in Monte Carlo in 2007, Christian Völkers and his friend Christian Hinneberg sailed to St. Tropez. On board was Christian Hinneberg’s son.

produced at the finca—Christian requested a moment of reflection. In a speech that recalled thirty years of company history, he thanked everyone who had contributed to recent successes. He highlighted breakthrough moments of the

“I was amazed by his knowledge,”

previous year’s development, including the permission to issue franchise licences in the USA, the opening of the

Christian Völkers recalls. “He knew when the vessel was

Engel & Völkers headquarters in New York City and Hong

manufactured, the length, and many other intricate details

Kong, the expansion plans in Florida and Chile, and the

of every ship we passed along the route.” Christian Völkers

sixty-percent increase in commission income in the resi-

recognised that such knowledge could be used commercial-

dential and commercial sectors. Around 2,500 employees

ly. Soon, he set sail with his new idea. For yacht owners,

now worked at Engel & Völkers in more than 300 residential

it was logical that Engel & Völkers had potential buyers

property shops and commercial offices around the world.

in its client base. None of the existing yachting specialists had a comparable network. Engel & Völkers Yachting was launched, embarking on its maiden voyage with business partner Christian Hinneberg in tow. The first shops opened in Hamburg and London.

The top performers received awards, followed by the best employees and the most successful entrepreneurs. The party peaked with a splendid musical surprise—the band “Supertramp” performed on a stage built in the middle of the finca’s olive grove. Guests—including actor and Hollywood star Michael Douglas—relished the rocking, celebratory evening.

The increasing size of Engel & Völkers presented operational difficulties. To assure the continued success of the brand,

The end of the anniversary year brought about a new era of

each client needed individual attention, especially wealthy,

expansion. In addition to the openings of more real estate

international private clients who expected the type of per-

shops, a new division was founded: Engel & Völkers Devel-

sonal assistance and discretion offered by face-to-face client relations. The company set up a special task force, charged specifically with global expansion within various business

opment. Under the direction of Christian Philipp Völkers, the son of Thomas Völkers, residential real estate projects were financed and developed by the company. The existing

areas. Based in London, a small group of top consultants—

network proved to be particularly helpful, as properties

the Engel & Völkers Private Office—tendered services for the

were acquired through Engel & Völkers licence partners,

company’s most affluent international clients—a very small

planned and constructed to fit the high standards of Engel &

target group. The Private Office gave its exclusive circle of

Völkers clients, and sold via the expansive Engel & Völkers

clients access to its vast network and accompanied each client

network. Thanks to the close personal contact to the client,

in his search for suitable real estate. The network of licence partners took care of the actual real estate brokering. 2007 was indeed a year of particular prosperity for Engel & Völkers. Success continued as the company celebrated its thirtieth anniversary on Majorca. Over 300 invited guests travelled to the Spanish island for the annual licence partner meeting. They came from North and South America,

220

As well as the brokerage of real estate, Engel & Völkers also makes use of its global network for the brokerage of yachts. Standardised corporate identit y runs throughout the entire company, and also applies to the Yachting division. Engel & Völkers Yachting fulfills the wishes of its clients in ever y respec t.

HOW TO CHARTER WITH ROUTE

CHECKLIST Yacht

Size

Bed

Toy

THINGS TO DO

Private Cinema Candlelight Dinner Downtown Shopping

Robinson Crusoe Beach

All-Night Party Water Toys Fun on Board

Fitness

Wellness

Scuba Diving

221

2 0 0 5 -2 0 1 2 G E R M A N Y, T H E U S A , A N D G L O B A L D E V E L O P M E N T

the company was in a position to pursue the construction of exquisite, made-to-order concepts, many of which contributed to sustainable urban development schemes. In the next few years, the company opened shops in Ireland, Portugal, and the Netherlands, and commercial offices in Prague, Lisbon and Doha. By 2009, over 400 locations were working under the Engel & Völkers flag, including shops in such far-flung destinations as St. Petersburg, Los Angeles, Muscat, and Vienna.

The growing number of licence partners presented new obstacles. The company grappled with the challenge of guaranteeing that all partners would maintain the brand’s high standards. Regular system checks ensured compliance with quality and

PHILIPP NIEMANN

CHRISTIAN PHILIPP VÖLKERS

Managing Direc tor EMEA

Managing Par tner E&V Development since 2009

“As the person responsible for the international franchise business, I am par ticularly impressed by how the corporate culture in Hamburg is transpor ted and lived out globally with ex traordinar y passion.”

“It’s a great pleasure to work with my uncle Christian as we go about building up Engel & Völkers Development.”

the web presence were included in the system check. When

service standards—not just in the IT sector, but in every area.

licence partners linked to relevant areas in the Engel &

A checklist indicated the key points that determined success.

Völkers intranet, individual checkpoints were explained and

These points were broken down and weighted according

explored in greater detail. The area manager stayed in con-

to various criteria. Key performance indicators assessed the

tact with each location to personally review the key points.

number of real estate agents, their average sales, and the per-

The display of control was important—the checklist acted

formance of the individual shops. The checklist also highlighted topics such as recruiting, training, and leadership. It included the presentation of the shops, the equipment, and the organisation. Farming of neighbourhoods, marketing activities, implementation of corporate identity, the data and contact maintenance, and the structure and maintenance of

as an aid to identify problems in their early stages. Based on the rating received, licence partners could compare themselves to others and had the opportunity, with the advice of their regional director, to eliminate weaknesses, meet the high standards and expectations of their demanding clients, and remain at the top end of the market. In both 2009 and 2010, Engel & Völkers came in pole position in a broker ranking compiled by the German industry magazine Immobilienmanager (real estate manager), and in 2011 the Engel & Völkers franchising system was the only German company to be included in the “Top 100 Global

The elegant logo of the Private Office deliberately stands out with the star in the logo. The Private Office focuses its ser vices on the most exclusive clients worldwide. In 2010, following a global real estate crisis, Engel & Völkers achieved the top ranking for a German broker from the trade journal „immobilienmanager.”

224

Franchises Ranking” of Franchise Direct. Despite the almost insurmountable global economic and financial crisis in 2008—sorely felt at Engel & Völkers—Christian Völkers stayed true to his brand. In 2012, Sven Odia would begin turning his attention to and placing a special focus on the still problematic market in the USA.

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

LOCATION

1995 Opening of the In-House Proper ty Academy

LOGOS

Af ter conquering Europe with Belgium, the Netherlands, Luxembourg, Ireland, Austria and the Czech Republic, more licences follow in Chile, in Oman in Doha, in Russia in St. Petersburg, in Hong Kong, and in the USA with offices in NYC and L A.

MOTTO

ONE FACE TO THE CUSTOMER MARKETING TOOLS 1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes 6. Flag 7. Christmas Tree 8. Engel & Völkers Manual 9. Dresscode 10. Hanging Sign 11. GG Magazine 12. Proper ty Exposés 13. Adver ts 14. Guerilla Marketing 15. n-tv 16. Personality 17. Red Line 18. Academy 19. Sailing 20. Internal Networking par ties 21. Shop System 22. Licence Contrac t 23. International Expansion 24. E-Mails 25. Website 26. Online Proper ty Por tal 27. System Checks 28. Son Coll

1998 Launch of the Franchise Par tner System

2004 Founding of the Resor ts Business Division

2007 Founding of the Yachting Business Division

SHOPS & OFFICES

156

120

31 1

1978

1981

1984

1987

1990

1993

1996

2012 Founding of the Business Segment Castles & Manor Houses

In both 2009 and 2010, Engel & Völkers makes the top spot in the German “immobilienmanager” real estate ranking, and in 2011 it is the only German company with its licence system to make the “Top 100 Global Franchise Ranking“ by “Franchise Direc t”.

54 13

2009 Founding of the Business Segment Capital

LUCKY NUMBER

160

2007 Opening of the Private Office in London

NAME DROPPING 1999

2002

2005

in mill. EUR

REVENUES

50.5

50 40 30

THILO VON TROTHA CFO

RICHARD WINTER

PHILIPP NIEMANN

Managing Direc tor E&V Commercial (2005-2010)

Managing Direc tor EMEA

17.4

1.5

5.5 6.6 2.1 2.8 3.4

1978

1981

1984

CHRIS LIEM Licence Par tner Hong Kong since 2009

1987

1990

1993

1996

10.8

1999

2002

2005

EMPLOYEES & AGENTS 1,200

1,000

800

600

400

450

500

300

400

200 200

1 1978

4 1981

10 1984

30 CHRISTIAN PHILIPP VÖLKERS 1987

1990

1993

1996

1999

2002

2005

Managing Par tner E&V Development since 2009

2005-2015

“Made in Germany” Conquers the USA

20 05–2015 “M A D E I N G ER M A N Y ” CO N Q U ER S TH E US A

“It was a long way from the Hamburg suburbs to the Big Apple.”

In Europe, Engel & Völkers had spearheaded the market in real estate brokerage. The board expected the same in the American market—a mistake in perception that almost defeated the entire business before it could grow strong. “The knowledge we had applied to European markets could only be put to use in some parts of the USA,” recalls Sven Odia. “So we had to start from scratch.”

crisis that included the bankruptcies of Lehman Brothers, Fanny Mae, and the onset of global financial recession. Even insiders at Engel & Völkers wondered how it would be possible to duplicate the company’s European success in the USA, while simultaneously supporting the vast expansion in Europe, and North and South America. In 2006, after a lengthy waiting period, the first franchise licences were awarded to three new Engel & Völkers partners in Florida.

Since arriving in Florida, Sven Odia and his team had used the power of the brand to build a fast-growing network and establish new contacts. But the conditions for entering this complicated new market could not be worse. Christian’s

Sven Odia continued to pursue US expansion. A South Hampton-based Austrian—hoping to capitalise on the potential of the lucrative Hamptons luxury real estate market— became the next licence partner. The strong euro lured many

friends recall that he was daring to take on an enormous

affluent Europeans from the extensive Engel & Völkers

expansion project right in the middle of the subprime

network to this trendy, renowned region. The Hamptons’

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20 05–2015 “M A D E I N G ER M A N Y ” CO N Q U ER S TH E US A

proximity to New York City was a further attraction.

Determined to make it in New York, Christian Völkers and Sven Odia set out to take the city by storm. They made an appointment with an influential PR agency located on Fifth Avenue to discuss a suitable concept and strategy. The two men did not mention that they were operating on a shoestring budget. But the agency, who had been curious about their audacious new client, sensed

K AI ENDERS

ANTHONY HIT T

COO

CEO USA

“People breathe, eat, drink, sleep — and need a place to live. We have been helping people live in beautiful surroundings since 1977.”

“In the US, Engel & Völkers is one of the fastest growing companies in the industr y. And there is definitely no end in sight to our expansion!”

enough potential to pitch an ingenious and dazzling campaign: Fifth Avenue would be closed to traffic. A Formula 1 racing car with the Engel & Völkers logo would race down the avenue—at full speed—and crash through a bullseye target, symbolising a sensational entry into a new market. The

won over—and with them their own network of clients. An American real estate agent is an entrepreneur with functions similar to the Engel & Völkers licence partners in Europe.

budget for this PR stunt was also spectacular—four million

An American real estate agent must invest personally in his

dollars. To this day, Christian and Sven laugh when they

own education, and is required to take a complicated exam

recall the impudence of their visit to the agency. With a total

to receive his licence to sell real estate. However, even with

marketing budget of seventy thousand, Engel & Völkers had

this degree, a licenced real estate agent is not permitted to in-

nowhere near the resources to pay for this kind of splashy,

dependently run a real estate business or agency. Instead the

Manhattan tour de force. They didn’t even have office space

agent must work for a licenced broker, who—with additional

in New York City! That would soon change.

training—assumes liability for all brokerage transactions and receives a small fee in return. Interestingly, the real estate

In 2007, the company rented a prestigious office in

agent in the United States gets the lion’s share of a brokerage

Manhattan and staffed it with employees from Germany.

fee and the Engel & Völkers licence partner only receives a

Conforming to the usual strategies implemented in other ter-

small portion. The Engel & Völkers system did not fit with

ritories, the company hired local real estate agents. The new

the American model and needed to be adapted to comply

office was incorporated into the Engel & Völkers system

with US customs and expectations.

and was to perform according to Engel & Völkers rules and regulations. But the American mindset—very different from the European temperament—posed a unique and complex set of problems. Drawing attention to the Engel & Völkers shops, which were staffed with a small group of agents, proved challenging. Although the brand set itself apart from the established competition with its uniform and elegant exterior presentation, the economic situation was becoming difficult. The European headquarters strained to understand the reasons. The biggest misunderstanding involved the way Americans deal with real estate agents. Unlike in Europe, the real estate business in the US does not focus on the end client—the buyer. In the USA, the real estate agent is the real customer. Local US real estate agents must be enticed and

232

The US headquar ters of Engel & Völkers, in the hear t of New York City. VIP attendance at the opening ceremony of the Engel & Völkers Shop in Buckhead, Atlanta: Mayor Kasim Reed with Anthony Hitt, CEO of Engel & Völkers Nor th America; Licence Par tner Shirley Gar y; and Princess Bettina Wittgenstein, Head of Global Corporate Communication.

02:19

06:36

04:24

0.5

50,000

Shop Openings

Website Visits

Newsletters

08:55

12:07

10:18

2,764

500,000

500

1 Buyer or Seller Contact

People Reached via Social Media

Web Leads

14:44

16:16

18:20

Job Applications in MCs

Hours of Training

Deals

20:34

00:05

22:17

1.36 million

538

1,750

Commissions

New Listings

Viewings

20 05–2015 “M A D E I N G ER M A N Y ” CO N Q U ER S TH E US A

MIRKO HEWECKER

MARIA-PA Z MILL ÁN

LIZ ROWLINSON

Managing Direc tor GG

Head of Human Resources

International Proper t y Journalist

“So many crazy people with one idea: it could only turn out great.”

“Engel & Völkers is a brand and a company where the employees play a ver y impor tant role. I look with pride at all the people who encompass the brand—they give the company a distinctive, authentic and congenial charac ter.”

“As a journalist, I can always rely on the exper tise of Engel & Völkers for relevant information about trends in the international real estate markets, and for access to some of the finest proper ties across the world.”

Although they toiled endlessly to gain a foothold, Engel &

percent of the substance.” One of his strategic goals: A training

Völkers would not penetrate the US market until 2010. Sever-

strategy that would be suitable for the US market and the

al times they considered cutting their losses and returning

recruitment of new real estate agents, who would work in

to home base. The New York office fizzled to a minimal staff

office space rented by Engel & Völkers above their shops. His

of two German employees, and Sven Odia found himself

concept: integrating former competitors—including brokers

with limited options—either withdraw from the US market or

and their teams—via conversion into the Engel & Völkers

sell his US holdings to a competitor. He consulted with a German partner, Mathias Bode, who held the master licence for California. Mathias was facing the same dilemma. With the assistance of Anthony Hitt, formerly of Sotheby’s International Realty, who had a thorough knowledge of both the US market and the Engel & Völkers’ sophisticated clientele, the California licence partner had implemented the “Multiple Listing Service”. What was unthinkable in Europe was business-as-usual in the USA: If a property was offered for

brand. In 2012, Sven Odia managed to persuade Anthony Hitt to come to New York as Chief Operating Officer for the entire US operations, although Hitt was a Californian native through and through. Fascinated by the German brand and the passion for the company’s core values, he steered the US real estate business to success over the next few years to come. His strong leadership focused on the development of the Real Estate Academy, followed by the distribution of the licences. Hitt’s winning philosophy during this process:

sale in the USA, the listing was not exclusive, but public. All brokers could list the same property. Anthony Hitt, a Californian by birth, became the Head of Real Estate for the Engel & Völkers master licence partner in Los Angeles. He recalls: “The style was there and eighty The impressive diversity of the real estate por tfolio is also evident in America: from beach houses to horse farms to city apar tments— ever y thing is available. Illustration of the daily ac tivities at Engel & Völkers. What happens in 24 hours is impressive. Compiled in Januar y 2018.

“International brands have to be as much the same as possible, but as different as necessary.” Still, the path remained rocky. 2014 culminated in a highly emotional evening at Christian Völkers’ finca, Son Coll. For over seven years, Sven Odia had worked tirelessly for his vision. Contrary to the opinions of the shareholders and the entire supervisory board, Sven insisted that the US offered

237

THE E&V VALUES

reputable

reliable

elegant

stylish

professional

premium

wellconnected

independent

driven

authentic

innovative

20 05–2015 “M A D E I N G ER M A N Y ” CO N Q U ER S TH E US A

ULRIKE COHEN

STUART SIEGEL

JIM R AMSAY

JILL DE SILVA

CAO Nor th America

CEO MC New York

COO Nor th America

Senior Vice President, Marketing & Platform Development

“Embodying our dynamic company culture, we are looking for ward to the new and exciting challenges that the grow th strategy for the Americas will bring.”

“The Engel & Völkers hallmark is its ability to connect international buyers with local brokers and proper ties.”

“ The talent and sophis-

“The integrity and consistency of Engel & Völkers is a breath of fresh air on the proper ty market, especially in the US. The brand holds sheer endless marketing potential.”

opportunities that Engel & Völkers had already exhausted in Europe. “Here in mainland Europe, we will soon reach

tication that Engel & Völkers represents has never been stronger in the Americas.”

which Sven tenaciously defended his point of view. Engel & Völkers would soon prove to be the only European real es-

the growth limit for new licence partners,” he emphasised at

tate brokerage company to succeed in establishing itself on

a meeting on Majorca. In the US, potential for growth

the American market. A great achievement, considering that

would be immeasurable for decades to come. Sven was quick to underscore his absolute certainty in this by saying:

“I am even ready to trade all my Engel & Völkers AG shares for shares in the US Holding. After all, we also have an obligation towards our overseas employees!”

no US real estate company, to this day, has succeeded in conquering the European market, despite the immense financial strength of the American real estate market. As the current CEO, Anthony Hitt is responsible for the US headquarters in New York, as well as the expansion businesses for Canada and Mexico. Jim Ramsay, COO for Expansion, and Ulrike Cohen, CAO for North America, are part of his team. Starting in 2014, Stuart Siegel, a friend of Christian Völkers from his previous position as CEO of Sotheby’s International Realty, assumed management of the

Although Christian Völkers may have wondered where Sven

Market Center on upscale Park Avenue in New York City.

found his confidence, he was convinced by the passion with Engel & Völkers fought hard for over ten years in the USA— a struggle that paid off. Today, many of the most profitable Engel & Völkers offices are located in the USA, home to some most successful Engel & Völkers agents worldwide. A selection of brokers have been included on the prestigThe value triangle represents the core values of Engel & Völkers. The building blocks of competence, exclusivity and passion encapsulate the mission of the company, func tion as orientation tools, and are applied throughout all divisions. They also form the basis for all strategic decisions made.

ious Wall Street Journal’s list of top agents in the USA. For the past three years, the company has anticipated a North American agent and revenue growth of about fifty percent. Engel & Völkers might have been “Made in Germany,” but it has grown wings in the USA.

239

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

LOCATION

1995 Opening of the In-House Proper ty Academy

LOGOS

Expansion enters the nex t phase in Canada and Mexico. There are now 10 shops operating in the USA, in addition to the master licence in California and a Market Center on Park Avenue in New York City.

MOTTO

MULTIPLE LISTING SERVICE MARKETING TOOLS

1998 Launch of the Franchise Par tner System

2004 Founding of the Resor ts Business Division

2007 Opening of the Private Office in London

2007 Founding of the Yachting Business Division

2009 Founding of the Business Segment Capital

2012 Founding of the Business Segment Castles & Manor Houses

SHOPS & OFFICES

2012 Opening of the 500th E&V Shop Worldwide

NAME DROPPING

336

350 300 250

156

200 150

1978

1981

1984

1987

1990

1993

1996

K AI ENDERS

100

COO

1999 2002 2005 2008

in mill. EUR

REVENUES

98.6

100

MARIA-PA Z MILL ÁN

MIRKO HEWECKER

Head of Human Resources

Managing Direc tor GG

ANTHONY HIT T

JIM R AMSAY

CEO E&V USA

COO Nor th America

STUART SIEGEL

ULRIKE COHEN

CEO MC New York

CAO Nor th America

50.5

0 1978

5.5 6.6 1.5 2.1 2.8 3.4 1981

1984

1987

1990

1993

1996

10.8

17.4

1999 2002 2005 2008

EMPLOYEES & AGENTS

2,900

3,000

2,500

2,000

1,500

1,000 1,000

500

1 1978

4 1981

10 30 1984

1987

200

1990

300 400

1993

1996

450 500

1999 2002 2005 2008

2012 Onwards

Market Centers & Franchise Growth

2012 O N WA R DS M A R KE T CENTER S & FR A N CH I S E G ROW TH

“Our Market Center concept mirrors the 1995 innovation of our shop concept.”

Alberto Cortina, one of Christian Völkers’ close Spanish friends, expressed interest in investing in Engel & Völkers. Christian recalls his friend’s advice: “Find investors when

company was growing and profits were reinvested in the expansion of the franchise business. Always searching for ways to optimise revenue, the company decided to focus on

you do not need them—because once you need them they

increasing long-term investment in its privately-owned offic-

will be difficult to find!” The idea was to boost capital by a

es. After consultation with his co-partners, Christian Völkers

double-digit million-euro sum by convincing a group of in-

finally accepted the offer and contracts were signed. This

ternational friends to invest in Engel & Völkers. In exchange

step cleared the way for faster growth.

for their investment they would receive a ten-percent shareholder stake in the company. The list of shareholders included Andrés Piedrahita, Alfonso Cortina, Bernard Lambilliotte, and Michael de Picciotto, who would later go on to become Deputy Chairman of the Supervisory Board.

“Think big” was a popular American slogan that had clearly influenced Christian Völkers. He put his full attention back on his core business values and the 1986 farming principle outlined in the Engel & Völkers Manual. The farming principle states that each city should be divided into distinct, small

In the winter of 2012, Engel & Völkers prospered. The

areas, sometimes even into a few streets. The respective

245

2012 O N WA R DS M A R KE T CENTER S & FR A N CH I S E G ROW TH

broker should only take responsibility for each small area and have a complete understanding of market conditions. Christian Völkers cited Barcelona as an example: Like all major cities it was impossible for a few franchise partners, with only a handful of agents, to exploit the market potential. With less than a one-percent market share in the Spanish city, Engel & Völkers was far behind its growth target. Christian Völkers recognised that the number of real estate agents working for his brand needed to be significantly increased if he hoped to gain a larger share of the market. Christian’s idea put the “Market Center” concept on the drawing board; The Market Center would consist of a central office platform with a large number of independent agents, each of whom assumed responsibility for a small farming area. The new concept would provide European cities with Market Centers, each with up to 500 agents.

ANDRE AS MAYER

JUAN-GALO MACIÀ

CFO USA

CEO Spain, Por tugal & Andorra

“Engel & Völkers has achieved exceptional sales grow th in the past five years— above all we have significantly improved our structures and processes. That’s why we are looking at an even more promising future!”

“The ability of this company to constantly reinvent itself is ver y impressive. We broke the mould of real estate brokerage in 2012 with the creation of the first MC in the world, and we are doing it now again with digital transformation.”

The Market Center model– due to its great complexity and expense–could only be rolled out with close supervision from headquarters. With the assistance of higher revenue and increased investment, existing third-party licences in Barcelona, Rome, and Madrid were repurchased. This cleared the way for the debut of the Company Owned Operations division. Together with Sven Odia, Christian Völkers opened the first own Market Center in 2013, under the management of an appointed director in Barcelona. The appropriate client base

in Barcelona was already familiar with the Engel & Völkers brand. Christian Völkers and Sven Odia were convinced that their project was as innovative as the 1995 shop concept, even though doubts and resistance arose. Opponents argued that the huge investment necessary to support the Market Center envisioned by the two men would be impossible to justify. In addition, the Spanish market was weak due to the European economic situation. Sven Odia and Christian Völkers, relentless in their pursuit of brand expansion, were— as ever—not deterred by voices of doom. Instead of listening to naysayers, they began implementing the new project. In 2013, on a prominent street in the Catalan capital, Sven

Christian Völkers in the Market Center Rome. The office was established in the centur y-old Palazzo Sforza Cesarini and is centrally located close to the Colosseum, the Spanish Steps, and the Trevi Fountain. The open plan workspace in the Market Center Barcelona offers a modern working environment and encourages exchange among real estate agents. Impressions of the Market Centers in Barcelona, Madrid, Dubai, and Paris.

248

Odia discovered an ideal location, a building that offered over 7,500 square feet—enough space for more than 125 real estate agents. In addition to the Market Center, he had already begun converting existing residential property shops of former licence partners into “property lounges”. These lounges—with their striking façades and sophisticated, sleek interiors—were intended to maintain the look of the brand and help the company connect with potential clients at strategic

COMPANY-OWNED MARKET CENTER (MC) LOCATIONS

CAFETERIA

AGENT WORKSTATIONS

MANAGER‘S OFFICE

ENTR ANCE

MARKETING

CONFERENCE ROOM

ACCOUNTING

PARIS

PROPERTY LOUNGE

Proper ty Lounges affiliated to the MC in busy neighbourhoods.

They are the ideal places to make initial contac t with the client.

2012 O N WA R DS M A R KE T CENTER S & FR A N CH I S E G ROW TH

locations in the Spanish metropolis. As outlined in the Engel & Völkers Manual, each agent, using the farming concept, would become an expert in a specifically defined area.

“This enables faster growth and the very best potential for market penetration,”

MAT THEW BATE CEO MC Dubai

Christian Völkers emphasised repeatedly. After six months,

“Our strong global brand equity and amazing team of over 160 international professionals in the Dubai office has enabled us to dominate market share and be the largest real estate ser vice provider in the city.”

the Market Center had grown from zero to 150 agents, and had even exceeded the target revenue of one million euros. Agents felt comfortable in the chic ambience. The office contained an excellent service platform with its own human resources department, trainers and agents, state-of-the-art IT support, team leaders and a professional marketing department. Agent recruitment was given top priority— management carefully chose a dedicated team to work in the Market Center, which focused on consistent execution of the international Engel & Völkers brand. Almost 2,500 properties in the Catalan capital were soon listed with the company—a great incentive for new agents who had access to each of the listings and the subsequent prospects for quick turnover. The agents also had uncompromised access to the complete Engel & Völkers international portfolio, a veritable treasure trove of potential sales, not only in their respective cities, but also around the world. The strong Engel & Völkers

David Scheffler, with his many years of experience, contributed to the success of the first Market Center in Barcelona. Now the plan was for other metropolises to follow suit. In autumn 2014, an unforgettable board meeting took place.

brand and the implementation of its system had proven

Market analysts were also invited. Sven Odia, who had been

indispensable to the company’s success.

appointed Co-CEO of Engel & Völkers AG in the same year, opened the meeting by announcing the executive board’s initiative to simultaneously open all planned Market Centers. The people attending the meeting looked at each other in disbelief. An uncomfortable hush fell over the room in the elegant Hamburg hotel, where a two-day conference had been planned. Breaking the thick silence, one of the flummoxed attendees jumped up and shouted: “I quit. You have completely lost your grip on reality.” Unruffled, Christian

The Dubai Market Center provides space for 250 real estate agents and its brokerage ac tivities cover prestigious proper ties througout the entire metropolitan area. The MC Concept envisages both a central office space for up to 200 real estate agents and the opening of 3-4 Proper ty Lounges in strategically key locations, which ser ve as points of direct contact for potential clients and increase awareness for the brand.

Völkers and Sven Odia presented the upcoming annual targets: By the end of 2014, they planned to acquire 1,000 new real estate agents for the Market Center platform, with envisaged growth in 2015 to more than 2,000. Each new proposal amplified the tangible level of anxiety in the room— the tempo and seemingly unattainable goals of Christian Völkers and Sven Odia were a source of great trepidation for many members of the team.

253

2012 O N WA R DS M A R KE T CENTER S & FR A N CH I S E G ROW TH

DAVID SCHEFFLER

PALOMA PÉREZ BR AVO

MIGUEL ÁNGEL CANTOS

MARCO ROGNINI

CEO France

CEO MC Madrid

CEO MC Valencia

CEO MC Rome

“Christian Völkers’ vision motivates my personal development. He wants to conquer the real estate world and I enjoy being a par t of that.”

“The key to the success of an Engel & Völkers real estate agent lies in hard work, valuable training, and being able to inspire the client to dream.”

“The past five years in the company have been intense but also ver y exciting. I would never have dreamed of achieving such excellent results in such a shor t time.”

“Over the past five years Engel & Völkers Italy has grown and introduced a new concept with the Market Center in Rome. Today, with a team of 200 people, the MC Rome represents the largest group of agents working in one single place in Rome and is, as such, unique in the real estate industr y.”

By the end of 2014, the men had followed through on their daring plans.

continued to assure the rapid pace of the company’s evolution and acceptance on the world stage. With the establishment of a Market Center in Paris in 2016, the Engel & Völkers growth strategy maintained a

More than 1,200 real estate agents shared the Market Center

steady pace. Not far from the Champs-Élysées, in a historic

platform in five locations. Additional agents would follow.

nineteenth-century palace, the office provides enough room

After staffing the Market Centers in Valencia, Dubai, and

for more than 300 real estate agents, in almost 11,000 square

Madrid, the company opened its ninth Market Center in Rome in mid-2015. Located at the Palazzo Sforza Cesarini— with its incredible frescoed hall of mirrors—the Market Center in the Eternal City became one of Engel & Völkers’ most impressive international offices.

feet of office space. Chief Operating Officer David Scheffler now steers the Market Center Management GmbH and assumes responsibility for the entire French market. Even more Market Centers have recently opened—on the Côte d’Azur, in Hong Kong, and—coming full circle—in Hamburg’s Blankenese district, on the Elbe, where the Engel &

Starting in 2010, Member of the Board Kai Enders took over responsibility for the franchise business in Europe, the Middle East, Africa and South America. David Scheffler, by

Völkers story first began. Although the homecoming imagery triggers visions of a story reaching a satisfying end, the Engel & Völkers circle continues to widen.

overseeing operational business of the Market Centers, has Under the current leadership of Philipp Niemann, the new Managing Director of the Market Center Elbe in Hamburg, the company’s philosophy holds true to its core values. Philipp, formerly part of the Commercial division now working in residential real estate, adapted the Engel & Völkers Manual into a modern, trusted guise for the commercial sector. He puts his profound knowledge of both sectors to Christian Völkers, with interior designer Jessica Klat ten, working on the design of the Market Centers.

good use and continues to heed the sage advice of the company founders. The spirit of Engel & Völkers lives on.

255

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

1995 Opening of the In-House Proper ty Academy

LOCATION

1998 Launch of the Franchise Par tner System

LOGOS

Barcelona, Madrid, Rome, Paris, Valencia, Côte d‘Azur, Malta, Geneva, Vienna, Bogotá, Dubai and New York – in the Market Centers, also known as MCs for shor t, up to 150 real estate agents work in so-called Proper ty Lounges.

LUCKY NUMBER

MOTTO

FARMING PRINCIPLE 12

In 2013, Engel & Völkers had 12 Market Centers in operation worldwide.

MARKETING TOOLS

1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes 6. Flag 7. Christmas Tree 8. Engel & Völkers Manual 9. Dresscode 10. Hanging Sign 11. GG Magazine 12. Proper ty Exposés 13. Adver ts 14. Guerilla Marketing 15. n-tv 16. Personality 17. Red Line 18. Academy 19. Sailing 20. Intern Networking Par ties 21. Shop System 22. Licence Contrac t 23. International Expansion 24. E-Mails 25. Website 26. Online Proper ty Por tal 27. System Checks 28. Son Coll 29. Values Triangle 30. Polo 31. Brochures for Homeowners and Licence Par tners 32. Market Centers

2004 Founding of the Resor ts Business Division

2007 Founding of the Yachting Business Division

2007 Opening of the Private Office in London

2009 Founding of the Business Segment Capital

2013 2012 2012 Founding of the Launch of the Market Opening of the Business Segment 500th Engel & Völkers Center Concept & First Castles & Manor Houses Opening in Barcelona Shop Worldwide

SHOPS & OFFICES

NAME DROPPING

495

600 500

336

400 300

156

200 100

54 13 31

ANDRE AS MAYER

JUAN-GALO MACIÀ

CFO USA

CEO Spain, Por tugal & Andorra

MARCO ROGNINI

DAVID SCHEFFLER

CEO MC Rome

CEO France

MIGUEL ÁNGEL CANTOS

PALOMA PÉREZ BR AVO

CEO MC Valencia

CEO MC Madrid

1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011

in mill. EUR

REVENUES

197.5

200

160

98.6

120

50.5 10.817.4 0 1.5 2.1 2.8 3.4 5.5 6.6

1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011

EMPLOYEES & AGENTS

3,600

4,000

2,900

3,000

2,000

1,000 1,000

10 40

200300

400450500

1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011

MAT THEW BATE CEO MC Dubai

2014 Onwards

Digital Transformation

RECRUITING APP

YOU APP LEARNING APP

FARMING APP

PROPERTY APP CLIENT APP

MARKETING APP

AFTER SALES APP OWNER APP

2 0 1 4 O N W A R D S D I G I TA L T R A N S F O R M A T I O N

“Engel & Völkers specialises in dealing with information–not properties.”

The digitisation of daily life has altered the world of business forever. Technologies have developed at breakneck speed, changing work routines and human habits. People in Silicon Valley have long been convinced that “data is the

a strong brand—impossible to achieve when acting alone. A company can enhance its platform, adjust its scale to changing needs, and evolve successfully without significantly increasing its fixed costs.

new oil”. The dominating platforms like Amazon, Apple, and Google facilitate our lives and have become indispensable. Online businesses are emerging on a daily basis, revolutionising industries, and morphing into multi-billion-dollar businesses in short periods of time. “Disruption” has become the norm as companies reshape their business models and transform them into outlets of unprecedented convenience and efficiency for the customer. Some online platforms are particularly successful because, just like Engel & Völkers, they offer users a tailor-made infrastructure embedded in

In his original Engel & Völkers Manual, Christian Völkers had long ago written that Engel & Völkers brokers information—that the company collects and trades information about buyers and sellers. Digitisation narrows the gap between these two groups. The transformation has presented the company with its greatest challenge to date and will guide it through changes never before experienced. Christian Evers joined the Engel & Völkers Executive Board in 2014. He currently assumes responsibility for the development

261

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HOLIDAY HOMES Finest Real Estate Worldwide

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DREAM DESTINATIONS ... “We travel, some of us forever, to seek other states, other lives, other souls.” (Anaïs Nin) In this book, we would like to present you a beautiful array of luxurious holiday homes and second-home properties in the world’s most idyllic locations – a spectacular journey from Mexico and the USA via Spain, France and Italy to Switzerland, Austria and Germany. Whether in a spacious and elegant villa, a modern townhouse or a charming chalet, the utmost in luxurious comfort can be enjoyed by aesthetes, sports enthusiasts or those seeking peace and tranquillity. Prepare for 31 breathtaking holiday homes that will inspire and invite you to daydream!

Engel & Völkers AG Stadthausbrücke 5 . D-20355 Hamburg The most enjoyable times of the year are invariably spent recharging the body, rejuvenating the soul and reviving one’s spirit with new inspiration. Let us carry you oﬀ to places that are so unique they are destined for unforgettable holidays. Be inspired by magnificent mansions in the south of Mexico, California and Florida. Savour the finest quality of life the Mediterranean has to oﬀer in Spain and Italy. Enjoy the relaxed sophistication of the Côte d’Azur, fall in love with luxurious Alpine chalets in Switzerland and Austria – and with Germany’s wealth of scenic and architectural treasures.

1_HH_Umschlag.indd 1

14.03.18 12:17

2 0 1 4 O N W A R D S D I G I TA L T R A N S F O R M A T I O N

and distribution of products in the realms of social media, as well as marketing, IT, and GG magazine. At the turn of the millennium, Engel & Völkers began building extensive and professional web presences worldwide.

The websites are part of the platform Engel & Völkers provides to licence partners and property agents. Due to continuous investment in the websites—including their visibility—more than two million clients visit the main

CHRISTIAN EVERS CDO

“A company’s speed in adapting to new technology decides its future success. That is why Engel & Völkers is investing heavily in digital transformation to secure a successful future.”

website (along with over 700 local websites) monthly. Currently, more than 30,000 leads are generated each month. In the last four years, this development has gained significant momentum. Once the team was fortified and corresponding

very easy to connect him with the appropriate contact person who can then assist him further.

IT specialists were brought on board, the implementation of a consistent SEO (Search Engine Optimisation) strategy began increasing visibility on Internet search engines. A creative team produces unique content and makes it available

To the Engel & Völkers company, digital transformation means more than providing information to attract potential real estate clients over the Internet. The goal for the company

through a variety of online channels to attract clients and

is to deliver quality digital services while maintaining the

convert interest into real leads.

brand—and adhering to the standardised services outlined in the Engel & Völkers Manual. Making sure that these core

The website content strategy includes videos that deliver a brand-sensitive impact on the viewer. Interviews with experts on the facts and trends of global real estate markets are published, as are videos of luxury properties from the prestigious Engel & Völkers brand. By filming high-quality

values are still respected by every colleague remains the number one objective of the company. To ensure a consistent, positive brand experience for every client, each colleague is accompanied, supported, and controlled—step by step— through the entire value chain of real estate brokerage.

content, Engel & Völkers underscores its expertise in the real estate sector and bolsters its brand positioning as a leading provider in the premium segment. In 2015, Engel & Völkers— together with the German news channel N24—began producing “Faszination Wohnen” (Fascinating Living), a television program that showcases prestigious real estate from the global Engel & Völkers portfolio.

The 1980s edition of the Engel & Völkers Manual detailed proper computer usage for colleagues.

Regular newsletters, as well as intelligent re-targeting—

Out with the old, in with the new: The computer systems and website design are updated on a regular basis.

including the identification and tracking of website visitors online—provide interested parties with new content on a regular basis. This is a strategy that keeps visitors to the website within close interaction range with Engel & Völkers. If a client happens to be looking to buy or sell a property, it is

268

The digital fuse links various apps that suppor t the real estate agent from the first day of each transac tion.

Engel & Völkers is constantly working to make digital developments easy to use for the real estate business. Engel & Völkers apps developed specifically for the B2B sec tor.

DIGITAL REPORTING 2017 Performance Overview in Terms of Traffic & Leads

Leads 322,271 Leads

Conversion Rate

Leads

+14.9%

+25.0%

+43.4%

2017: 24,826,250 Visitors

2017: 1.30% CR

2017: 322,271 Leads

2016: 21,613,626 Visitors

2016: 1.04% CR

2016: 224,789 Leads

1.3% 1.2% 1.1% 1.0% 0.9% 0.8%

25 23 21 19 17 15 13 2014

2015

2016

2017

in ten thousands

in mill.

Traffic

2014

2015

2016

2017

35 30 25 20 15 10

9,867 Property Acquisitions

2014

2015

2016

2017

3.1%

+51.5%

Change

Traffic & Lead Split by Top 8 Countries Germany

Italy

Chile

USA

Spain

Switzerland

Belgium

France

8,715,395

4,239,022

2,222,926 1,359,570

Traffic

295,849 Buyers 91.8%

+44.5%

Change

16,555 New Employees Leads 121,534

46,759

27,595

23,430

5.1%

+22.4%

Change

Traffic Split by Channel & Operation

Display Referral

MCs

Organic Search

1.0 mill.

12.4%

10.1 mill.

1.1 mill. Social

2.3 mill.

Channel

Cooperation

554

Paid Search

LiPa Landing Pages

3.3 mill. E-mail

3.2 mill.

Direct

3.8 mill.

230,000 Licence Partners & Corporate

87.6%

Indexed Landing Pages

ONE E&V DIGITAL DAY

68,000

Website Visitors

855

17,350

Leads

Sent Newsletters

1 DAY 28,400

270

Property Searches

New Online Exposés

135

Facebook Posts per Day

400,000

#engelvoelkers Used on Instagram

Page Impressions

Traffic Split by Device

Traffic Split by User Language (Top 5)

41.90%

44%

47%

+35.4%

-25.8%

-14.5%

19.40%

MC Barcelona

2017

4.4

Million Page Views

2017

15.70%

13,000 Leads

8.60%

166,000 Facebook Fans

2016

35%

17%

48%

4.40%

engel & völkers engel & völkers engel & völkers new york engel & völkers canada engel & völkers resorts engel & völkers park city engel & völkers commercial engel & völkers california engel & völkers wellington engel & völkers manhattan engel & völkers texas Google Search

I’m Feeling Lucky Advanced search

Currently, around one hundred IT experts—a number that keeps growing—simplify the day-to-day tasks of each real estate agent. The IT department continues to develop and

The entire Engel & Völkers system is digitised. From the application process and agent training through to the e-Academy, property listings, marketing, the rating of on-

optimise a large number of apps and make them available

site inspections, and closing of sales—everything has been

to real estate agents. The apps streamline a real estate agent’s

digitised. When the need arises, an agent can connect to the

daily workload through the automation of processes.

e-Academy or the Engel & Völkers system. By providing constant technical support to each real estate agent, the company facilitates its interaction with clients, enhances client service, and ensures that the quality of service continues to improve all the time. With the development of a wide range of native apps

The 6th E&V Day 2017, in Wiesbaden: Around 800 licence par tners, real estate agents, and assistants from Germany and Austria experience an event with the theme “courage to succeed”. Digital analy tics show the high traffic to Engel & Völkers websites worldwide, and the leads that they generate. Real estate agents carr y their “You App” digital office on their smar tphone. They can manage their proper ties, create exposés, and close sales. With the help of search engine optimisation, Engel & Völkers websites stay at the top of the search rankings.

276

that work for both iOS and Android, Engel & Völkers has once again set new standards in the real estate market. The digital strategy prepares each agent for the job. All agents gain complete access to the training program with the aid of the e-Academy app. In 2017, this app was converted into a digital learning platform, ensuring that future agents would start the learning process on day one. By setting their own pace—and with the flexibility of a platform that allows access twenty-four hours a day—an agent can watch educational videos, take multiple-choice tests, or double-check existing

2 0 14 O N WA R D S D I G I TA L T R A N S F O R M AT I O N

STEFAN RICHTER

JOHANN VÖLKERS

ANDRE AS WESTENDÖRPF

MARCUS HAMER

Owner freiheit.com

Nephew & CEO Orbit Ventures

Managing Direc tor IT

Direc tor Digital & Creation

“For me, Engel & Völkers is a unique example of how an owner-managed company can successfully grow globally, maintain the classic vir tues of its Hamburg roots, and digitally reinvent itself.”

“We provide Engel & Völkers with the right digital tools to improve the quality of information for buyers and sellers.”

“We are transforming our IT into a power ful technological organisation that makes the new capabilities made possible through digital transformation accessible to all clients and par tners. We look for ward to developing the best platform for sof tware-assisted real estate marketing.”

“Christian Völkers has been involved in digital technology from the beginning. Early on, he recognised the power of digitisation and the way it would change society, and he pushed his business to adapt accordingly.”

knowledge. The repetition of constantly proposed, up-todate training sessions permits users to refresh their existing

Single sign-on technology implemented across the company enables access using just one single password.

knowledge, stay current within an ever-changing market, and put their personal skill set to the test.

The virtual office of the agent is housed in the You App, an intelligently-networked app landscape that aggregates

Through the implementation of additional programs and apps, Engel & Völkers continues to digitise the workflows and processes involved in the day-to-day work of each agent.

relevant information. Agents can use this app to communicate with colleagues or the company headquarters, track their learning and performance progress, plan activities, and monitor client acceptance of their productivity.

Engel & Völkers was one of the first companies in Germany to make use of Google technology for the purposes of internal document sharing. This allows agents to simultaneously work on documents, share them, or participate in virtual meetings. The separation of physical servers and the move to Google Cloud offers unlimited storage options, extreme scalability, and the best protection against cybercrime. The database,

The most unique feature of the entire digitised platform is the Engel & Völkers system. It uses the underlying rules and measures the deviation of an agent’s performance from a standardised curve or own set of goals and—through a push notification—advises the agent to change his course of action, thereby improving his performance.

which had grown over the years, was split into a large number

Developing and maintaining such a functional system plat-

of micro-services.

form, and honouring a wealth of experience stemming from

Mobile First is the wave of the future.

four decades of real estate expertise, requires a willingness to question-established principles and the innovation to change them if necessary. The Engel & Völkers digital transformation entails more than the development of software

All the applications can also be utilised working from stationary computers as well, whenever it is appropriate.

and technical tools. It is a reinvention of a company with a unique forty-year tradition determined to constantly evolve.

277

HARD FACTS TIMELINE

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

LOCATION

1995 Opening of the In-House Proper ty Academy

1998 Launch of the Franchise Par tner System

2004 Founding of the Resor ts Business Division

LOGOS

With over 600 shops and 5,500 employees, there is still absolutely no end in sight.

MOTTO

DIGITAL TRANSFORMATION MARKETING TOOLS 1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes 6. Flag 7. Christmas Tree 8. Engel & Völkers Manual 9. Dresscode 10. Hanging Sign 11. GG Magazine 12. Proper ty Exposés 13. Adver ts 14. Guerilla Marketing 15. n-tv 16. Personality 17. Red Line 18. Academy 19. Sailing 20. Internal Networking Par ties 21. Shop System 22. Licence Contrac t 23. International Expansion 24. E-Mails 25. Website 26. Online Proper ty Por tal 27. System Checks 28. Son Coll 29. Values Triangle 30. Polo 31. Brochures for Homeowners and Licence Par tners 32. Market Centers 33. N24 34. Content Team 35. E-Academy 36. You-App

2007 Founding of the Yachting Business Division

2007 Opening of the Private Office in London

2009 Founding of the Segment Capital

2012 2013 2012 Launch of the Market Opening of Founding of the 500th E&V Shop Center Concept & First Business Segment Castles & Manor Houses Opening in Barcelona Worldwide

627

700 600

495

500

336

400

100

1978

1981

1984

1987

1990

1993

million clients visit the central website of Engel & Völkers and 700+ local Engel & Völkers websites ever y month.

156

200

2015 Founding of the Aviation Business Division

LUCKY NUMBER

SHOPS & OFFICES

300

2014 Appointment of Sven Odia as CEO

NAME DROPPING 1996

1999

2002

2005

2008

2011

2014

in mill. EUR

REVENUES

291

300 250

197.5

CHRISTIAN EVERS CDO

200 150

98.6 100 50

50.5 0 1978

17.4 1.5 2.1 2.8 3.4 5.5 6.6 10.8 1981

1984

1987

1990

1993

1996

1999

2002

2005

2008

2011

2014

EMPLOYEES & AGENTS

5,500

6,000

ANDRE AS WESTENDÖRPF Managing Direc tor IT

5,000

3,600

4,000

2,900 3,000

2,000

500 300 400 450 30 200

1978

1981

1984

1987

1,000

1990

1993

1996

1999

2002

1,000 MARCUS HAMER 2005

2008

2011

2014

Direc tor Digital & Creation

2018 Onwards

Visions & Passions

2 0 18 O N WA R D S V I S I O N S & PA S S I O N S

“We are building our new headquarters due to our rapid company growth. It is our vision to create a space where the brand can really come to life and be experienced.”

Christian Völkers founded the company forty years ago.

company. He views each part of the business as a link in

Through great effort and relentless pursuit of his vision, he

the chain that keeps the machinery of his company humming

has taken Engel & Völkers from a small Hamburg broker-

along at a healthy tempo. GG Magazine is a perfect example

age office to a leading international real estate corporation.

of Christian’s philosophy: By launching the magazine with

Undeterred by setbacks and defeats, he has managed to lead

his own publishing house in 1988, Christian has watched

his team into the future—right into the age of 4.0—by always

the magazine grow from a fledgling property catalogue to

staying one step ahead of the competition.

an independent architecture and lifestyle magazine that has changed the face of real estate marketing in Germany. Now

The forward-thinking Christian Völkers, always anxious to improve business, has kept a close eye on every aspect of his

published quarterly in six languages, the magazine features exciting topics and personalities—successful architects, unu-

company, digital and otherwise. Thus, the Engel & Völkers

sual designers, and hip artists—and presents them to its

Manual is constantly updated and continuously optimised

global readership. GG offers sophisticated insights into the

based on experience. He genuinely desires that each of his employees understands and internalises the DNA of the

latest trends from all over the world. If you are suave and urbane enough to find your property listed in GG, you know

283

2 0 18 O N WA R D S V I S I O N S & PA S S I O N S

CONSTANTIN VON DALWIGK

K ATHARINA MAHNKE

R ALPH VIERECK

ANTONIA CRESPÍ BENNASSAR

Managing Direc tor Private Of fice

Projec t Management E&V HQ

Licence Par tner Resor ts since 2004

Head of Private Of fice Worldwide

“Incredibly exclusive proper ties require special care and attention.”

“The new headquar ters and its location in Hamburg’s HafenCit y reflec t the company—in colour, modernity, innovation, vision, and the courage to change while also keeping tradition and heritage alive.”

“Engel & Völkers Resor ts manages projec ts from the planning and construc tion phase through to the interior design— working together with developers, architec ts, and engineers.”

“Christian Völkers truly represents the qualities of the company: trust, loyalty and exper tise as well as curiosity about new challenges.”

you’re in good company. Grund Genug (reason enough) to enter into business with Engel & Völkers.

The Private Office, headed by Baron Constantin von Dalwigk, relaunched its business in 2015. The Private Office represents an especially discreet clientele, not only those with a pen-

Since 2012, Baron Christoph von Schenck has been expanding the division that includes castles, manor houses, countryside estates, large farming properties, and forestry.

chant for castles and stately homes. Discretion is of utmost importance in this office, as it deals with wealthy clients who expect the same tactful treatment they receive in private banks. Privacy is also ensured by Antonia Crespí Bennassar,

The development of this division is promising for Engel & Völkers.

appointed in 2017 as Head of the Private Office. In close cooperation with licence partners and Market Centers, the Private Office offers its demanding target group an individually tailored service for clients in the market’s top tier. Antonia Crespí Bennassar explains: “Private Office clients

For many years in Germany, family estates with large farms have undergone generational changes, and many older properties—no longer competitive due to their size—have

are not looking for a dream home in one specific location. They are searching throughout an entire region—the Mediterranean, for example. Or perhaps the Private

come onto the market. Increasing demand for sustainable raw materials for energy production, the general shortage of available property due to the land consumption of industrial or new development areas, and the increasing world population

Houses division, Engel & Völkers had gained a high share

The Engel & Völkers board at the construc tion site of the new headquar ters in November 2017: Christian Evers, Thilo von Trotha, Christian Völkers, Sven Odia, and Kai Enders.

of the niche market. Because of its access to a highly exclu-

The Engel & Völkers world.

make land once used for agriculture and forestry a coveted investment. Just two years after opening the Castles & Manor

sive clientele through its systematic marketing approach and international network, the company continues to benefit from a decisive competitive advantage.

286

The white modern façade of the new Engel & Völkers headquar ters in Hamburg’s HafenCity matches the entire company’s branding perfectly.

2 0 18 O N WA R D S V I S I O N S & PA S S I O N S

MICHAEL DE PICCIOT TO

RICHARD MEIER

ANISSA MEDIOUNI

CHRISTOPH VON SCHENCK

Shareholder since 2012 & Deput y Chairman of the Advisor y Board

Architec t

CEO Yachting

Licence Par tner Castles & Manor Houses since 2012

“He has devoted his entire life to building the brand. That is his passion and he does it to the highest standard.”

“It’s going to be a recognisable building. People are going to say: ‘Oh, that’s a building for Engel & Völkers, that’s their building.’ A building the company will be proud of, the city will be proud of and the people who live there will be proud of. So, I see it as a contribution that Christian Völkers is making to the city in a positive way.”

“When you become a member of a powerhouse such as Engel & Völkers, you become par t of a world where there are no limitations. My proudest achievement since my journey began with Engel & Völkers in 2007 has been to expand the brand into yachting.”

“Castles and manor houses are the supreme discipline for real estate consultants. The Engel & Völkers brand fits per fec tly with the exclusive clientele.”

Office client is someone who wants to sell a property that is so exclusive that the buyer can only be found in a very small circle somewhere in the world. These transactions must be

the Engel & Völkers Aviation division, which brokers aircraft worldwide. Both divisions comprise a small part of the company’s sales, but they are important for brand positioning

handled in the most tactful way possible.” It is not just clients

and rounding off the range of services designed to meet the

with extreme wealth—the “high net worth individuals”—who

demands of exclusive clients.

are treated with such confidentiality. Anyone who comes into contact with Engel & Völkers can rest assured that trans-

The growth of Engel & Völkers has always depended on solid

action details remain private, unless the company receives

relationship building by keeping its clients in the network.

exclusive permission to share specific aspects of the sale.

To achieve this, the client must be presented with seamless international service that is continuously expanded on a glob-

The Yachting division, founded by Christian Völkers in 2007, has experienced a significant upturn. In addition to the purchase and sale of classic yachts, an all-inclusive package of yacht-related services is now offered, including chartering, financing advice, registration, or the arrangement of limousine or private jet transport to and from the dock. In 2015 the service portfolio of Engel & Völkers expanded to include

The open plan entrance area in the new headquar ters on the “Strandkai” in the HafenCity distric t of Hamburg. The lobby and lounge will host the entire brand world. Both colleagues and clients will be welcome and feel at home.

al level. With Engel & Völkers Aviation, aircraft are offered for sale or charter. Individual trips with selected private jets can also be booked.

For many years, a growing number of upscale clients has expressed interest in a first-class second home or a holiday retreat tailored entirely to their needs. In 2004, to feed this emergent market, Christian Völkers and Ralph Viereck developed Engel & Völkers Resorts GmbH.

289

2 0 18 O N WA R D S V I S I O N S & PA S S I O N S

An Engel & Völkers resort is a holiday home in the middle of an exclusive area in a top holiday destination—and offers a wide range of leisure activities and round-the-clock services. “Engel & Völkers manages the project from the bottom up. This includes the planning and construction phases of the individual homes through to the design of the resort facility. We work together with developers, architects, engineers and interior designers,” explains Ralph Viereck, who went on to become Managing Partner of Engel & Völkers Resorts GmbH. In cooperation with partners, Engel & Völkers develops resorts in holiday destinations such as Canada, Florida, Italy and Dubai. The various resorts serve the unique preferences of Engel & Völkers clients. Each house in the resort—be it an

DR. CHRISTIAN BOSSE

LEONARDO FERR AGAMO

Head of Finance & Controlling

“Engel & Völkers offers me a dynamic environment where I enjoy working together to find solutions for upcoming challenges and implement them.”

apartment in the historic centre of a Sicilian village, a lone lodge in Canada, or a Tuscan villa—provides the buyer with all-inclusive services that range from concierge to maintenance and offer hotels and restaurants in the immediate vicinity, as well as spa facilities. Depending on its location, the resort might also feature a wide variety of different sports and leisure

“How lovely when in your life you find new good friends. Christian has the driving force that combines visionar y and entrepreneurial skills with hard work and great enter tainment ability, together with an appreciation for friendship and for healthy enjoyment of life and lifestyle. These elements are fundamental in enhancing and developing a friendship.”

activities—including everything from golf to water sports, tennis, hiking and fitness. In 2009, Sven Odia founded Engel & Völkers Capital AG as an independent investment and asset manager for real estate

estate together with kapilendo AG. This source of financing,

investments; the first fund was successfully placed with Ber-

which is reminiscent of the way start-up companies raise

enberg Bank. The business focuses on financing construction projects and properties for developers, in addition to project

money, allows lenders to gain a stake in large-scale projects with relatively small investments.

developers through investors. For some time, Christian Völkers has considered adding the

“From financing to renovation, we support all phases of each project according to the wishes of the client,”

brokerage of art to the wide range of Engel & Völkers services available. Engel & Völkers Fine Arts could work with a network of galleries or through an auction system. The client base already exists, but an investment in expertise is necessary. But would a commitment to art overstretch the brand? Some friends are sceptical. Rolf Sachs, who is very familiar

explains Robin Frenzel, CEO of Engel & Völkers Capital

with the art scene, warns against too much optimism: “It will

AG. At the beginning of 2017, Engel & Völkers Capital broke

take many years and cost a great deal of money to establish

new ground and set up a crowdinvesting platform for real

Engel & Völkers as a credible art specialist! And it is very questionable as to whether this enterprise would succeed! Why take an unnecessary risk?” This endeavour remains on the back burner for the time being. As part of the further development and strengthening of

The entire Engel & Völkers brand world will be showcased in the new headquar ters.

the brand, Christian Völkers is having discussions with his friend Leonardo Ferragamo, who also owns the Nautor’s

291

06 11 ‘15 - 11:43:53

21 06 ‘16 - 15:58:09

28 10 ‘16 - 13:57:53

21 11 ‘16 - 13:42:40

08 12 ‘16 - 14:27:43

19 12 ‘16 - 12:57:32

25 01 ‘17 - 15:12:26

06 02 ‘17 - 15:27:24

16 02 ‘17 - 15:42:22

27 02 ‘17 - 13:57:21

16 03 ‘17 - 11:57:17

29 03 ‘17 - 14:27:15

05 04 ‘17 - 13:42:14

04 05 ‘17 - 15:42:11

08 05 ‘17 - 11:27:07

2 0 18 O N WA R D S V I S I O N S & PA S S I O N S

Swan shipyard. The firm hopes to gain Engel & Völkers as a sponsor of the prestigious Swan European Regatta. From a marketing point of view, the project is exciting for both companies. The prospect of involving licence partners in the regatta sponsorship also offers interesting opportunities.

So many transformations in the last four decades! Each change at Engel & Völkers has triggered another, pushing the company’s brand ever upward and onward. How fitting that the fortieth anniversary of Engel &

ALBERTO CORTINA

ROLF SACHS

Shareholder since 2012

“Above all, the success of Engel & Völkers is based on the consistent implementation of the shop concept. At the same time, this is the big disadvantage of the Market Centers, as they are not visible to the client.”

“Grille is ver y good with people and this is probably the key to his success: ‘It is mostly a people business.’”

Völkers will coincide with the fulfilment of a long-term goal of Christian Völkers: An Engel & Völkers brand building in Hamburg to serve as the company’s headquarters. Located in the emerging HafenCity, one of the most striking urban waterfront development projects in Europe, Christian has secured the perfect site. Architects Zaha Hadid and Norman Foster both submitted proposals for the site, but ultimately

senior partner. This area will include a GG library and an office merchandise shop where everything from tableware to elegant accessories can be purchased. Katharina Mahnke adds: “The transparent and gallery-like area will also serve as a communication centre for employees, clients, and

award-winning New York architect and Pritzker award-winner

visitors with its restaurant and lounge spaces.” It is just a

Richard Meier was selected to design the building. In a joint

short distance from there to the Academy, located on the

venture with Quantum Immobilien AG, directed by Christian

first floor of the gallery.

Philipp Völkers and Katharina Mahnke, Engel & Völkers is contributing an architectural jewel to the HafenCity with the construction of its new Engel & Völkers headquarters. The

At Strandkai, just next to the new office building, the “Strandhaus by Richard Meier” will stretch fifteen floors

brand world of Engel & Völkers will unfold in a double-height,

up into the Hamburg skyline. The building will feature

light-flooded entrance area, similar to an upscale hotel lobby.

sixty-seven exclusive condominiums and another space next

“The public-interest business areas and brand worlds are pre-

door for rent-reduced apartments. “With this building,” says

sented here,” explains Bernhard Karpf, Richard Meier’s

Richard Meier, “Christian Völkers makes a worthy contribution to Hamburg’s positive urban development.” On the occasion of its fortieth anniversary, Engel & Völkers is poised for yet more expansion—not only in its core European markets, but also in its American and Asian regions.

A webcam documents the construc tion progress of the “Strandhaus”.

Christian Völkers, a visionary with the talent and skill to follow through on his own extraordinary ideas, views the

Alongside to the right: press clippings about this new landmark development.

forty-year mark as cause for celebration. It’s not the end of

In addition to the office building: six ty-seven exclusive condominiums with unique views.

beyond borders. The Engel & Völkers corporate identity,

Employees, agents and licence par tners working under the Engel & Völkers brand in all corners of the globe.

changed the face of international luxury real estate. Engel &

an era, but a chance to plan for a wide-open future that goes inspired by sheer determination and dreams, has forever Völkers—the brand that Christian built—lives on.

295

The Engel & Völkers Board on the roof of the “Strandhaus”, designed by award-winning New York architect Richard Meier.

HARD FACTS LOCATION

In 2018, Engel & Völkers can proudly repor t that it now has 10,256 employees working under the brand. 700 residential shops, 85 commercial offices, 5 yachting shops and 13 Market Centers are operational worldwide, meaning Engel & Völkers is at home in 34 countries spanning four continents.

HAPPY BIRTHDAY

40 In Autumn 2018, the company will celebrate four decades with around 800 invited guests at the new headquar ters in Hamburg.

HELP WANTED

MOTTO

DATA

SPORT & LEISURE

IS THE

NEW

OIL LUCKY NUMBER

In 2009 the first polo tournament was held on Son Coll, Christian Völkers’ private Majorcan estate. Teams compete for three days in a bid to secure the coveted Engel & Völkers Cup.

HEADQUARTERS

300,000 Since 2009, Engel & Völkers has been pursuing charitable causes in Togo, West Africa. Donations have gone towards the construction of several school buildings, the procurement of furniture, and the building of a canteen. 200 children aged between 4 and 16 years old attend the school.

From a real estate catalogue to the first proper ty magazine worldwide. With a circulation of almost 300,000, editions in six languages, and distribution in 33 countries, GG is E&V’s most impor tant marketing tool.

“Strandhaus” is the name of the new headquar ters in Hamburg’s Hafencity, overlooking the River Elbe. The architec t Richard Meier designed the white 15-storey building, which contains both freehold and rental apar tments, and will also see 300 E&V employees pass in and out each day between 9am and 5pm.

1977 Founding of the Company Engel & Cie

1980 Relocation to Office at Elbchaussee 414

1988 Founding of the GG Publishing House

1988 Entr y into the Commercial Real Estate Market

1990 Opening of the First Office outside Germany

1995 Opening of the In-House Proper ty Academy

SHOPS & OFFICES

775 800

627

700

495

600 500

336

400 300 200 100

1981

1984

1987

1990

1993

1996

1999

54 2002

156

2005

2008

2011

2014

2017

in mill. EUR

REVENUES

635

700 600 500 400

291

300

197.5

200 100

1.5

2.1

2.8

3.4

5.5

6.6

1981

1984

1987

1990

1993

1996

98.6

50.5 10.8 17.4 1999

2002

2005

2008

2011

2014

EMPLOYEES & AGENTS

2017

10,000

8,000

5,500

6,000

3,600 2,900

4,000

2,000

1981

1984

1987

200 300 400 450 500 1990

1993

1996

1999

2002

1,000 2005

2008

2011

2014

2017

TIMELINE

1998 Launch of the Franchise Par tner System

2004 Founding of the Resor ts Business Division

2007 Founding of the Yachting Business Division

2007 Opening of the Private Office in London

2009 Founding of the Business Segment Capital

2012 Founding of the Business Segment Castles & Manor Houses

MARKETING TOOLS

1. Cock tail Par ties 2. Direc t Mailing 3. Telephone Manner 4. Car Stickers 5. Matchboxes 6. Flag 7. Christmas Tree 8. Engel & Völkers Manual 9. Dresscode 10. Hanging Sign 11. GG Magazine 12. Proper ty Exposés 13. Adver ts 14. Guerilla Marketing 15. n-tv 16. Personality 17. Red Line 18. Academy 19. Sailing 20. Internal Networking Par ties 21. Licence Contrac t 22. Shop System 23. International Expansion 24. E-Mails 25. Website 26. Online Proper ty Por tal 27. System Checks 28. Son Coll 29. Values Triangle 30. Polo 31. Brochures for Homeowners and Licence Par tners 32. Market Centers 33. N24 34. Content Team 35. E-Academy 36. You-App

2013 Launch of the Market Center Concept & First Opening in Barcelona

2014 Appointment of Sven Odia as CEO

2015 Founding of the Aviation Business Division

2018 Opening of and Relocation to the new Company Headquar ters

It‘s time to share!

HOLIDAY RENTALS

MAJORCA

CHÂTEAUX CASTLES MANSIONS

ALPINE CHALET DREAM

DREAM OUTLOOKS

MAJESTIC PEARL

HOLIDAY HOMES

Over the course of the years there have been many publications and books produced in-house that reflect the global por tfolio of Engel & Völkers.

METROPOLITAN HOMES

POLO TEAM

PORTUGAL

LIBRARY

EQUESTRIAN HOMES

LOGOS

2012 Opening of the 500th Engel & Völkers Shop Worldwide

NAME DROPPING

ANTONIA CRESPÍ BENNASSAR

MICHAEL DE PICCIOT TO

DR. CHRISTIAN BOSSE

Head of Private Of fice Worldwide

Shareholder since 2012 and Deput y Chairman of the Super visor y Board

Head of Finance & Controlling

K ATHARINA MAHNKE

CHRISTOPH VON SCHENCK

R ALPH VIERECK

CONSTANTIN VON DALWIGK

Projec t Management E&V HQ

Licence Par tner Castles & Manor Houses since 2012

Licence Par tner Resor ts since 2004

Managing Direc tor Private Of fice

Outlook -------

OUTLOOK

The Story of a Brand offers you a first-time, detailed overview

We aim to write the next chapter of our unique brand story

of the history of Engel & Völkers. We have included signifi-

by maintaining our pioneering spirit and our ability to think

cant milestones as well as numerous anecdotes.

ahead. We have already reached the next important milestone in our company's history with the construction of our

I look forward to following the Engel & Völkers journey

new headquarters in Hamburg. The realisation of this pro-

into the future. We face many big challenges: continued

ject is the result of a long-held vision of mine, and I am very

global expansion, further acquisition of qualified real estate

proud that Richard Meier, the internationally renowned

agents, the ongoing development of our system platform,

architect, has designed such a prestigious ensemble of build-

and the unceasing digital transformation of the property

ings for us. The heart of our new headquarters—the brand

industry. Our goals over the coming years are extremely

area located in the main entrance lobby—invites employees,

ambitious. Amongst other things, we will be expanding our

clients and guests alike to experience the truly unique world of

licence partner system in strategic key markets by opening

Engel & Völkers.

further residential property shops and commercial offices. We also plan to speed up growth with our Market Centers in

The prospects for positive growth for Engel & Völkers are

the world's metropolises, thus gaining a larger market share.

superb and fill me with great excitement as I contemplate what

The Engel & Völkers network will evolve at great speed—in

the future holds. I am as committed and motivated as I was on

the near future, over 10,000 people will be working as part

the day the company was founded, and I look forward to the

of the Engel & Völkers brand. Additionally, we will continue

years ahead. Who knows? The next 40 years may well deserve

to move into new business fields in the premium segment.

a whole new book of their own.

Sincerely yours,

CHRISTIAN VÖLKERS

305

OUTLOOK

Where do you envision the Engel & Völkers brand in thirty years?

“Engel & Völkers will continue to establish itself as a global luxury brand. Diversified companies from the travel, art, asset management and financial services sectors will all emerge as part of our brand.” CHRISTIAN VÖLKERS

306

OUTLOOK

What future endeavours will Engel & Völkers pursue?

“If it's possible in the future to live on Mars, Engel & Völkers will certainly be there. We have no shortage of visions!” SVEN ODIA

309

OUTLOOK

How will the way people live change in the coming decades?

“In the smart homes of the future, services like cleaning, shopping and cooking will be automated. But even if our way of living changes, one thing will always remain–the human desire for beautiful spaces in beautiful places.” K AI ENDERS

310

OUTLOOK

How will the financial sector evolve in the next thirty years?

“Corporate financing will change significantly as new financing and participation strategies such as crowdfunding and ICOs evolve. The vast majority of financial processes within a company will also be digitalised.” THILO VON TROTHA

313

OUTLOOK

What will day-to-day work be like for real estate agents in thirty years?

“In the next thirty years, we’ll experience a significant digitisation of the real estate value chain, without sacrificing personal contact and consultation. Artificial Intelligence and Blockchain will play major roles in this process.” CHRISTIAN EVERS

314

THE AUTHOR

Countess Jeannette Beissel von Gymnich lives in Burg Satzvey, an ancient castle near Cologne, Germany, where she has launched a variety of marketing events that help support the property, owned by her husband, Count Franz Josef Beissel von Gymnich. Jeannette was born in Bonn to US diplomat parents and was raised in Europe, South America and the USA. Having studied in Virginia and later in Grenoble, she settled in Hamburg, Germany, and worked for various international advertising agencies. In 2008, she founded the Jeannette Gräfin Beissel von Gymnich Foundation to help children in Germany who are victims of violence and neglect. In 1999, she began her career as a published author. Her books include: Und flog in anderes Land, a medieval novel; Luxury Houses - Castles Schlösser Châteaux; Frauen und ihre Schlösser: Mehr als Glanz und Gloria; Frauen führen - Erfolgsgeschichten aus der NRW Wirtschaft; and in 2014 a coffee table book spotlighting successful men in Germany entitled Männer - Leben, Träume und Passionen, that features a prose portrait of the founder and CEO of Engel & Völkers, Christian Völkers. Jeannette is co-editor of various books for the Bayer Foundations, including Mut durch Herausforderung: Pioniere in der Flüchtlingshilfe (2016) and The Beauty of Impact: Health Edition (2017). The Story of a Brand was adapted to English by American author Robin Meloy Goldsby.

316

ACKNOWLEDGEMENTS

My gratitude goes to those who were instrumental in the realisation of this project. Special thanks to Countess Jeannette Beissel von Gymnich, the author of this book. Not only did she write an outstanding, detailed history of Engel & Völkers, but her tireless dedication and flexibility contributed to the team spirit of the project. Her cooperation with us—spanning more than two years—has been a source of great pleasure for me. I would also like to thank Robin Meloy Goldsby for the successful English translation of Jeannette’s text. Many thanks to Janine Weitenauer for her unique design concept, her vision for the entire graphic layout, and her valued contribution to the final production. As a result of Janine’s efforts, the book reflects the Engel & Völkers brand from start to finish. A big thank you to Janine’s team, especially to Sinja Schwarz for an outstanding layout, Mong Ting Zhu for the digital illustrations of the portraits, and Dongjin Woo for the creative interpretation of all figures, dates and facts. My special thanks to colleagues Saskia Herrmann and Nathalie Olofsson. They have managed the project smoothly by coordinating the participants and organising all the image data. And, last but not least, I am enormously grateful to Princess Bettina Wittgenstein for her editorial and organisational direction of this project. Many thanks also to her team from GCC— especially Josephine Hoeft, Countess Johanna zu Stolberg, and Philine Kröger. Thank you to my family, and those colleagues and friends who have taken the time to share their memories, advice, or expertise. Your contributions gave life to the Engel & Völkers narrative and our story would not have been possible without you.

With gratitude, Christian Völkers

317

INDEX

A INGRID VAN A AL ST POLO INSERT, CHARIT Y INSERT MAWUFEMO AGBENU CHARIT Y INSERT MESHA AL BIN JASSIM AL-THANI POLO INSERT NIEVES ÁLVAREZ POLO INSERT KOKOU AMELOR CHARIT Y INSERT PRINCE FR ANZ VON AUERSPERG POLO INSERT

CAESAR CR ASEMANN POLO INSERT

LEONARDO FERR AGAMO PAGE 119, 291, GG INSERT, POLO INSERT

NATASCHA ISR AEL POLO INSERT

CASPAR CR ASEMANN POLO INSERT

MARIA SOLE FERR AGAMO POLO INSERT

DANIEL CR ASEMANN PAGE 85, 98, 100-101, 126, 135, 159, 161, 165, POLO INSERT

KIP FORBES GG INSERT

ALFONSO CORTINA PAGE 245

LUISA CR ASEMANN POLO INSERT VALERIE CR ASEMANN POLO INSERT ANTONIA CRESPÍ BENNASSAR PAGE 286, 303, POLO INSERT BORJA DEL CUVILLO POLO INSERT

ANDRÉ BAL A ZS GG INSERT MERCEDES BAPTISTA POLO INSERT JOSE LUIS BARRETO POLO INSERT LUCA BASSANI GG INSERT

ALBERT DARBOVEN PAGE 78, 82

MAT THEW BATE PAGE 253, 257

PETER DAU PAGE 125-126, 166

DUCHESS ANNA IN BAVARIA POLO INSERT

STEPHANIE DAU PAGE 166

BAUTISTA BAYUGAR POLO INSERT

CARSTEN DEECKE PAGE 189

COUNT FR ANZ JOSEF BEISSEL VON GYMNICH PAGE 317

ANTONIA DELL’AT TE POLO INSERT

COUNTESS JE ANNET TE BEISSEL VON GYMNICH PAGE 17, 317 SABINE BLESEL PAGE 155, 161, 200 DINA VON BOCH-GALHAU POLO INSERT OLIVER VON BOCH-GALHAU POLO INSERT MATHIAS BODE PAGE 169, 179, 237 CHRISTIAN BOSSE PAGE 291, 303 FERNANDO BOTERO GG INSERT HORST BR ANDSTÄT TER PAGE 21 JÖRG BUCHEN PAGE 179 ALBERT BÜLL PAGE 85

HARTMUT DIETRICH POLO INSERT VIVI DIETRICH POLO INSERT GEORG DOMIZL AFF PAGE 78, 85 JOCHEN DÖHLE PAGE 31, 189, 214 CONR ADO DORNIER POLO INSERT DIANDR A DOUGL AS GG INSERT, POLO INSERT MICHAEL DOUGL AS PAGE 220 COUNT BENEDIKT VON DÜRCKHEIM PAGE 101, 103, POLO INSERT HEINRICH DUMR ATH POLO INSERT

JOHN JAHR PAGE 98, 100, 101, 103

ROBIN FRENZEL PAGE 291

BR ANDON JAR A POLO INSERT

PETER FRIGO PAGE 189, 191, 204

NICOL AS JEISSING PAGE 101, 126, 135

G SHIRLEY GARY PAGE 232 MARTA GAYA HERNANDEZ POLO INSERT

DAVID KENNEY PAGE 85, 126

ROBIN MELOY GOLDSBY PAGE 317

TIMO KHAMMASH PAGE 200, 205, 207

SIMONETA GÓMEZ-ACEBO POLO INSERT

KELLY KILLOREN BENSIMON GG INSERT

THOMAS GOT TSCHALK GG INSERT

THOMAS KIRST PAGE 126

ELENA GREBE POLO INSERT

HENRY KISSINGER GG INSERT

H Z AHA HADID PAGE 295 MARCUS HAMER PAGE 277, 279 DIANA HAR ARI PAGE 119, POLO INSERT PHILIP HAR ARI PAGE 119, POLO INSERT K ATHARINA HARF POLO INSERT PETER HARF POLO INSERT EVA-MARIA HAUG PAGE 38, 54, 55, 62, 126, 135 BERNHARD HEISS POLO INSERT KIR A HEISS POLO INSERT

HANNS JOACHIM EHRHARDT-RENKEN PAGE 33

KILIAN HENNESSY GG INSERT

FR ANCISCO CARVA JAL POLO INSERT ULRIKE COHEN PAGE 239, 241 ALBERTO COMENGE POLO INSERT MICHAEL A CORDES PAGE 82, GG INSERT ALBERTO CORTINA PAGE 245, 295

SEBASTIÁN ESCARRER POLO INSERT HERBERT ESCHE PAGE 101 CHRISTIAN EVERS PAGE 268, 279, 286, 314, POLO INSERT

PHILIPP GL ANDER PAGE 126

UDO BURK PAGE 78

DIRK ENGEL PAGE 21-22, 33, 37, 38, 49, 51, 54, 59, 66, 77, 165, 214

K ATRIN JÜRGENS PAGE 82, 87

BERNHARD K ARPF PAGE 295

GESINE VON EHREN-ERNST PAGE 38, 66, 71, 73, 126, 135

MIGUEL ÁNGEL CANTOS PAGE 255, 257

BARON MARTIN VON JENISCH PAGE 110

FR ANK O. GEHRY GG INSERT

JENS HELMS PAGE 200, 205

K AI ENDERS PAGE 232, 241, 255, 286, 310, POLO INSERT

NORMAN FOSTER PAGE 295

TORY BURCH GG INSERT

318

D BARON CONSTANTIN VON DALWIGK PAGE 286, 303, POLO INSERT

BORIS IZ AGUIRRE POLO INSERT

LUZIAH HENNESSY POLO INSERT

BOLKO KISSLING POLO INSERT JESSICA KL AT TEN PAGE 255 CHRISTOPH KLEINER PAGE 66, 71, 73, 100 JOHANNES VON KLEIST SCHÖN POLO INSERT K ATHARINA VON KLEIST SCHÖN POLO INSERT COUNT MA XIMILIAN ZU KÖNIGSEGG POLO INSERT COUNTESS NESRIN ZU KÖNIGSEGG POLO INSERT HELGE KOL ASCHNIK PAGE 184, 191 R ALPH KOOPMANN PAGE 110, 184 R AY KROC PAGE 165-166 ERNST-MORITZ KROSSA PAGE 98, 103, 126 GISEL A KRÜGER PAGE 38, 55

VALESCA GUERR AND HERMÈS POLO INSERT

AGATHA HERRERO POLO INSERT

K ARL L AGERFELD GG INSERT

MIRKO HEWECKER PAGE 237, 241

BERNARD L AMBILLIOT TE PAGE 245

JORDAN HEWSON POLO INSERT

ALEX ANDER L AMPERT PAGE 85, 87, 100, 126, 135, 165-166

CHRISTIAN HINNEBERG PAGE 220 ANTHONY HIT T PAGE 232, 237, 239, 241 ROGER HODGSON POLO INSERT

SABINE L ANZ POLO INSERT RONALD L AUDER GG INSERT

INDEX

DIEGO LE AL PAGE 110, POLO INSERT VICK Y LE ANDROS POLO INSERT CHRISTIAN LIAIGRE GG INSERT

P JOACHIM PAWLIK PAGE 159 PALOMA PÉREZ BR AVO PAGE 255, 257

MARTIN SCHIRRMACHER PAGE 166, 179 CHRISTIN SCHLICHTING PAGE 155, 161 BET TINA SCHOENBACH PAGE 33

CHRIS LIEM PAGE 214, 227

MICHAEL DE PICCIOT TO PAGE 245, 289, 303, POLO INSERT

JOHN F. LOVE PAGE 166

FABIEN PICTET POLO INSERT

NAOMI SCHRÖDER POLO INSERT

DAVOR LUKSIC POLO INSERT

SACHA PICTET POLO INSERT

R ACKHAM F. SCHRÖDER PAGE 98, 100, 103, POLO INSERT

CORINA PIEDR AHITA POLO INSERT

TAHNEE SCHRÖDER POLO INSERT

ANDRES PIEDR AHITA PAGE 119, 245, POLO INSERT

ULRICH SCHULTE PAGE 126, 135

PRINCE GG INSERT

MARK SEELEN GG INSERT

M JUAN-GALO MACIÀ PAGE 248, 257 EMILIA MAHNKE POLO INSERT K ATHARINA MAHNKE PAGE 286, 295, 303, POLO INSERT GASTÓN MAÍQUEZ POLO INSERT BARON ANDRE AS VON MALTZ AN POLO INSERT LORD MARCH GG INSERT MANOLO MARCH POLO INSERT ANDRE AS MAYER PAGE 248, 257

R AINER SCHOENBACH PAGE 33

MEL ANIE SHUBAIR POLO INSERT

R JIM R AMSAY PAGE 239, 241 K ASIM REED PAGE 232 SVEN REINIGER PAGE 126 STEFAN RICHTER PAGE 277 LOTHAR RIEHEMANN PAGE 126

STUART SIEGEL PAGE 239, 241 EUGENIA SILVA POLO INSERT JILL DE SILVA PAGE 239 FEDERICO SPADA POLO INSERT THOMAS SPINDLER PAGE 126, 135, 137

DINO RIES PAGE 37

MARCO ROGNINI PAGE 255, 257

BENEDIKT TASCHEN GG INSERT

LIZ ROWLINSON PAGE 237

HADI TEHER ANI PAGE 200, 204

FELIPE VON RUK AVINA POLO INSERT

DOUGL AS TEITELBAUM POLO INSERT

LEOPOLD VON RUK AVINA POLO INSERT

HENDRIK TENEUES POLO INSERT

BARONESS TATJANA VON RUK AVINA POLO INSERT

DAVID TENGUE CHARIT Y INSERT

PHILIPP NIEMANN PAGE 224, 227, 255

MIGUEL RUTH PAGE 195-196, 207

AMBR A MEDDA PAGE 289 ANISSA MEDIOUNI PAGE 289 RICHARD MEIER PAGE 28, 289, 295, 297, 300, 305, GG INSERT MARIA-PA Z MILL ÁN PAGE 237, 241

O ANTONIO OBR ADOR PAGE 110, 115, POLO INSERT

KELLY RUTHERFORD GG INSERT

FELIPE ODIA POLO INSERT

ROLF SACHS PAGE 291, 295

MA XINE ODIA POLO INSERT

CECILIA SANDBERG PAGE 107, 115

STEFANIE ODIA POLO INSERT

FELIX VON SAUCKEN PAGE 195, 196, 207

SVEN ODIA PAGE 166, 169, 173, 177, 179, 196, 205, 214, 224, 231-232, 237, 239, 248, 253, 286, 291, 309, POLO INSERT

PRINCE ALEX ANDER ZU SCHAUMBURG-LIPPE PAGE 155

PRINCESS ANNA ZU OET TINGEN-WALLERSTEIN POLO INSERT PRINCE CARL-EUGEN ZU OET TINGEN-WALLERSTEIN POLO INSERT DIEGO OSORIO POLO INSERT

PRINCESS EVA-BENITA ZU SCHAUMBURG-LIPPE PAGE 155 CECILIE SCHEFFLER POLO INSERT DAVID SCHEFFLER PAGE 253, 255, 257, POLO INSERT BARON CHRISTOPH VON SCHENCK PAGE 286, 289, 303, POLO INSERT CL AUDIA SCHIFFER PAGE 184

THILO VON TROTHA PAGE 195-196, 214, 227, 286, 313, POLO INSERT

U CHRISTIAN ULMEN POLO INSERT COLLIEN ULMEN-FERNANDES POLO INSERT

V GUSTAVO VEL ASQUEZ POLO INSERT HENRY VAN DE VELDE PAGE 101 CELIA VENTURI POLO INSERT FR ANCESCO VENTURI PAGE 115, POLO INSERT R ALPH VIERECK PAGE 286, 289, 303

CHRISTIAN PHILIPP VÖLKERS PAGE 220, 224, 227, 295, POLO INSERT CYNTHIA VÖLKERS POLO INSERT HORST VÖLKERS PAGE 28 JOHANN VÖLKERS PAGE 277, POLO INSERT MANUEL A VÖLKERS POLO INSERT NINON VÖLKERS PAGE 28, 115, 119, 189, 200, 204, POLO INSERT, CHARIT Y INSERT OSCAR VÖLKERS PAGE 119 TERESA VÖLKERS PAGE 119 THOMAS VÖLKERS PAGE 28, 165-166, 179, 220, POLO INSERT

W HENDRIK DE WA AL PAGE 101 COUNTESS CAROLINE VON WALDBURG POLO INSERT ERICA WARBURG PAGE 38 MA X WARBURG PAGE 38 JANINE WEITENAUER GG INSERT K ARSTEN VON WERSEBE PAGE 33 ANDRE AS WESTENDÖRPF PAGE 277, 279 KONSTANTIN WET TIG PAGE 126, 135 CHRISTOPHER WINTER PAGE 177, POLO INSERT KIM WINTER POLO INSERT RICHARD WINTER PAGE 85, 227 PRINCESS BET TINA WIT TGENSTEIN PAGE 72, 115, 126, 137, 184, 214215, 232, POLO INSERT DIANA WOJAHN PAGE 85, 200,207 COUNT HIERONYMUS VON WOLFF-MET TERNICH POLO INSERT COUNTESS MARYNIC VON WOLFF-MET TERNICH POLO INSERT

Y ELIAS YAHWO AHADZI CHARIT Y INSERT SANTIAGO YBARR A POLO INSERT

ROBERT VOGEL PAGE 204

ANNELIE VÖLKERS PAGE 28, POLO INSERT

ZINA ZIEMS CHARIT Y INSERT

CHRISTIAN VÖLKERS PAGE 4 f f.

NATASHA ZUPAN POLO INSERT

319

I M P R I N T, C R E D I T S & C O P Y R I G H T S

IMPRINT

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