Since it first started operating in Marbella 15 years ago, Engel & Völkers has become a force to reckon with. The brand’s presence in the market reflects this, and it is achieved through E&V’s four iconic shops, its 50 agents, as well as marketing, events, its service reputation, access to unique market tools, the strength of its listings and an international database of 20,000 people searching for properties to buy in Marbella. We look at some of the other reasons behind the firm’s success.
“There are people who say that there are too many new developments being built right now, but this applies to less established areas than Marbella, where the opposite is true.” Smadar Kahana, owner/director of the four Engel & Völkers shops that cover the Marbella area from Elviria in the east to Guadalmina in the west, suffers from a shortage of suitable stock rather than any shortfall in buyers. “There is very strong demand for the right kind of property in Marbella, but due to a combination of shortage of land and the building licence problems of recent years there is limited supply.”
Engel & Völkers Expands Further into New Developments
By ‘right kind of property’ Smadar means villas and apartments that offer modern architectural styling accompanied by open-plan layouts and state-of-the-art 21st century amenities, as well as quality resale properties in good locations. “With our 50 dedicated agents covering all the main zones of the Marbella area, we have become a leader in resale properties, totalling sales of over €100 million a year,” says Smadar. However, this success also extends to new developments. Proof of this is the fact that Engel & Völkers has sold out most of The Collection – a Golden Mile development of 26 luxury semidetached villas – in the first six months.
“We have an international database of potential buyers looking for properties of this kind, and they are willing to pay a premium if it meets their requirements and is located in a prime position such as the Golden Mile or frontline beach or golf positions from the east to the west of Marbella. Though we continue to specialise in luxury resale homes in the best parts of Marbella, we are now also expanding our operations in quality new-build and off-plan projects within our areas,” reports Smadar.
The same successful marketing strategies that ensure resale properties of all price ranges – which were once notoriously difficult to sell – find buyers, is also proving to be highly effective in the marketing of new projects, and this is attracting developers as well as investors and end-buyers.
New Engel & Völkers Development Department
“We have a great track record at marketing such properties and, due to our expertise in the mid to higher segments in Marbella and the finest areas of Benahavís, we are now receiving a lot of requests to be the commercialising partner for new projects in these areas. They are attracted not only by our sales and marketing track record, but also by the analytical tools we can offer, such as market research reports, pricing and valuation analyses, detailed sales and marketing strategies, a large international network and client database, and also the market feedback we can provide them with when it comes to product development issues such as the styles, design features, amenities, extras, luxuries and locational factors people are looking for within different price ranges. As a result, Engel & Völkers is now exclusively promoting many of the top new developments from the east to the west of Marbella, as well as expanding into other areas.”
Real Estate Innovations for a New Age
An example of the other market-leading innovations created by this large global property firm that have a pioneering impact upon the Marbella market is the new App launched by Engel & Völkers this April. Where many a service and results-orientated business in fields such as real estate is already using internal CRM (Customer Relations Management) systems, the new Engel & Völkers App takes the process a step further by being an Owner’s App. Previously, homeowners instructing real estate agencies to market and sell their property were dependent upon receiving feedback from the brokers in question, but the new downloadable and personal account overview takes away the passive element and gives vendors a chance to follow the process live – from marketing initiatives for their property to the booking of home viewings, subsequent viewing reports, offers, landing page statistics and all other related information in an easy, transparent way.
“The vendor receives all the information in real time, so he or she is fully up-to-date with the latest developments and the progress of the selling process, and is in constant contact with the responsible agent,” says Smadar. What’s more, it’s stored in an easy to access chronology of actions that keeps the communication between the owner and their agent flowing so much more easily than before.
Any company that uses it has to be confident they will fulfil the requirements of their clients, for it makes the whole process more readily accountable than ever before.” She says it with the confidence of an agent that has taken a leading role in the market place, and is transporting Marbella property brokerage “into the 21st century.”
WORDS MICHEL CRUZ PHOTOGRAPHY KEVIN HORN
Engel & Völkers Marbella Blvd. Principe Alfonso de Hohenlohe, La Poveda, Local 5 (CN340, km178.2), Marbella. Tel: (+34) 952 868 406.