Engel & Völkers Florida Reports 122 Percent Revenue Growth Year-to-Date Amid Successful Third Quarter in 2021
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Engel & Völkers Florida Reports 122 Percent Revenue Growth Year-to-Date Amid Successful Third Quarter in 2021

Engel & Völkers Florida sees successful third quarter adding to impressive year-to-date figures of growth in revenue, advisor count, and franchise expansion

NAPLES, FLA. (PRWEB) October 26, 2021 - Engel & Völkers Florida, the Master License Partner of the Engel & Völkers brand for the State of Florida, today announced its quarterly report for the third quarter of 2021. The company saw noteworthy year-over-year increases in areas such as sales volume, recruiting and expansion of its franchise network. Overall, the company has increased its revenue by 122 percent year-to-date.

"This was another strong quarter for Engel & Völkers Florida," said Timo Khammash, Managing Partner of Engel & Völkers Florida. "Our team continues to execute on our strategy to exceed expectations. We experienced increases in demand from consumers for our advisors services, as well as interest from successful real estate professionals throughout Florida for available franchise opportunities. We successfully navigated ongoing global disruptions, achieved sales growth, and continued to gain market share in communities with established Engel & Völkers shops. We expect to grow for the balance of the year and have a strong holiday season. Our strength is foundational and broad-based, and we are on a clear path to improve profitability and accelerate top line growth."

79 real estate professionals affiliated with Engel & Völkers at various brokerages throughout the state; bringing the total advisor count to 762. This same group of advisors facilitated 1,249 real estate transactions during the third quarter, totaling $825,521,557 in sales. Given that volume, the average sales price is $660,946 per transaction. The average listing price came in at $1,198,852 for the quarter. According to Zillow, the typical value of homes in Florida is $313,217—a 20 percent increase over the last year. Compared to the state mean, Engel & Völkers Florida’s average sales price is more than 110 percent greater. The company has also surpassed last year's third quarter sales by just over $248 million, making it a 29 percent year-over-year increase.

“We have witnessed a new set of challenges emerge in the real estate industry this year,” said Peter Giese, Chief Growth Officer at Engel & Völkers Florida. “Florida saw a record low inventory of homes for sale, yet my team anticipates triple digit growth in sales volume by year's end. We are proud of our advisor's work ethic and continued utilization of our tools and brand to reach a new level of success; they continue to secure and service the best listings across the state and work tirelessly for their buyers in this challenging market.”

Nearing 1,000 locations in 33 countries, Engel & Völkers continues to expand its presence in premium first and second home markets around the world. Engel & Völkes Florida signed two new franchise agreements this quarter, bringing their total shop count to 42 with the addition of Engel & Völkers St. Pete Beach and Engel & Völkers Tampa Water Street. The company is focusing its efforts on southeast Florida for the remainder of the year, in the hopes of forming several new franchise relationships in key markets throughout Miami-Dade County, Broward County and Palm Beach County. Along with opening new brokerages, the company is working closely with its existing franchisees to gain additional market share in their respective protected areas through mergers and acquisitions, among other methods.

SOURCE Engel & Völkers

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