What were the advertising and marketing costs for Engel & Volkers in 2024?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the company's advertising and marketing costs for the year ending December 31, 2024, totaled $7,563,663. The FDD also provides figures for the previous two years, with advertising and marketing costs of $8,160,136 in 2023 and $7,806,867 in 2022. These costs are expensed as they are incurred.

For a prospective Engel & Volkers franchisee, this information provides insight into the scale of marketing investments made by the company. It demonstrates the brand's commitment to advertising and marketing initiatives, which can be a crucial factor in attracting clients and building brand recognition in the real estate market. Understanding the magnitude of these expenses can help franchisees gauge the level of support they might expect in terms of marketing materials, campaigns, and overall brand promotion.

However, it is important to note that these figures represent the advertising and marketing expenses incurred by Engel & Volkers Americas, Inc. itself, and not necessarily the specific advertising spend at the local franchise level. Franchisees are typically required to contribute to marketing funds and may also conduct their own local advertising. Therefore, prospective franchisees should inquire about the specific marketing obligations and opportunities available to them, as well as the allocation of the company's overall marketing budget.

Furthermore, the FDD mentions marketing and support agreements with Grund Genug, an affiliated company, where Engel & Volkers reimburses certain marketing and support costs. The net expense related to these agreements was $846,442 in 2024. This indicates that Engel & Volkers engages in related-party transactions for marketing and support, which could influence the overall marketing strategies and resource allocation available to franchisees.