Engel & Völkers, the global luxury real estate brand, just partnered with Dilbeck Real Estate, one of Southern California’s top real estate teams.
Approximately 400 Dilbeck agents and support staff will operate under the Engel & Völkers brand. Additionally, nine office locations will convert to Engel & Völkers shops. The nine office locations are in Los Angeles and Ventura counties, including Burbank, San Marino, Camarillo, La Canada Flintridge, Glendale, Encino, Pasadena, Santa Clarita and Westlake Village.
Under the leadership of Mark Dilbeck, the company’s majority owner since 1998, the indie brokerage achieved $1.04 billion in sales volume last year, according to the RealTrends 500 rankings. Dilbeck was #373 in the nation by sales volume last year, and its agents averaged $2.99 million in volume. Dilbeck ranked as the 178th largest independent brokerage in America in 2022 and nine of its agents cleared $16 million in sales volume last year, according to our rankings.
Under the arrangement with Engel & Völkers, Dilbeck will retain partial ownership and oversee the day-to-day operations of Los Angeles and Ventura county locations. They will focus on strategic expansion, recruiting, retention, advisor growth, and productivity. Meanwhile, Paul Benson, from Engel & Völkers, will gain an ownership stake of the new business.
“For Engel & Völkers, growth doesn’t come at any cost,” said Anthony Hitt, president and CEO, Engel & Völkers Americas. “As a culture-driven company, every new business opportunity, whether a large merger, brokerage partnership or individual real estate professional joining the brand, is approached with the intent not simply to help us grow, but with the expectation and responsibility to further the ethos of the brand and our philosophy toward exceptional client service, as well as helping our advisors grow with us.”
Dilbeck Real Estate provides Engel & Völkers with a specialized market knowledge of Los Angeles and Ventura counties. As a result, the luxury brand will now have a total of 15 locations in the greater Los Angeles area.
“The real estate industry has changed significantly since the inception of Dilbeck Real Estate more than 70 years ago,” said Dilbeck. “The competitive landscape is completely different, and with so many options for today’s consumers and real estate professionals to choose from, it became clear that we needed to affiliate with a large, established player in order to bring the business into its next era of growth. The tools and resources that Engel & Völkers provides will help our advisors secure more listings and advance professionally, and nothing excites me more than knowing that we’ve found a partner that shares similar values. This partnership will truly make our business stronger.”