What were Engel & Volkers franchises called before being described as Residential Real Estate Brokerages?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
Until March 2013, we granted master franchises and direct franchises to operate "Property Shops". The Property Shops were intended to be located exclusively at top pedestrian (retail) locations. We are now describing the franchises we grant as Residential Real Estate Brokerages in order to convey that we are now primarily seeking conversion franchisees already in the residential real estate brokerage business who can operate not only from retail locations, but combine retail locations with non-retail locations.
Source: Item 1 — THE FRANCHISOR AND ANY PARENTS, PREDECESSORS, AND AFFILIATES (FDD pages 8–15)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, prior to being described as Residential Real Estate Brokerages, the franchises were called "Property Shops". Engel & Volkers granted master franchises and direct franchises to operate Property Shops until March 2013.
The change in terminology reflects a shift in Engel & Volkers' strategy. The Property Shops were originally intended to be located exclusively in high-traffic pedestrian retail locations. By rebranding as Residential Real Estate Brokerages, Engel & Volkers aims to attract existing residential real estate brokerages for conversion, allowing them to operate from both retail and non-retail locations.
This shift broadens the potential locations for Engel & Volkers franchises and targets a different type of franchisee. Prospective franchisees should understand that the current focus is on attracting existing brokerages, which may influence site selection and operational strategies compared to the original Property Shop model.