Dec 03 2008
Engel and Volkers Real Estate Brokerage To Open In Malibu
Looks like another real estate brokerage is going to attempt to set up shop in Malibu. Engel and Volkers started in Germany and quickly spread throughout Europe before heading to the states. The PR release this morning describes them as a ”a high-class property shop” and their first office was planted in Beverly Hills this year. 15 more shops are planned to open by the end of 2009 including Santa Monica, Beverly Hills, West Hollywood, Malibu, San Diego, Newport Beach and Santa Barbara.
Good Luck!
Some of the challenges they are going to face include securing a reasonably priced lease ($21 sq.ft.), and competing with offices, like Prudential Malibu Realty, that are locally owned and operated.
The image on their website showing the Beverly Hills Office is very interesting in that it looks like it could be a Chanel or Prada store if it weren’t for the window display full of home flyers. It will be interesting to see if an “expensive looking boutique” brokerage can compete in Malibu’s competitive real estate marketplace and with turbulent market conditions.
The press release can be found here.
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I also got their press release , it will be interesting to see how Engel & Voelkers’ conservative European Style mingles with the more laid back attitude in Malibu …. Certainly the industry (like many others ) will somehow change !With or without them , some will disappear and some will enter!
Some agents won’t like the shop concept, some will. I actually think they will find their niche.
John
Over the past 30 years, Engel & Völkers Group has become one of the world’s most respected names for upscale residential real estate.
Its worldwide presence encompasses more the 335 offices in 26 countries and four continents. With the addition of our newly opened Scarsdale location at 300 Heathcote Road, Scarsdale NY buyers and sellers are able to access and list homes geared for an upscale, global audience with the help of highly trained real estate professionals and state-of-the-art technology.
Regardless of the area, Malibu, New York, etc. clients appreciate the higher standards and services that we offer!
Our best to our new location!
Jonathan Lerner