BOAN Immobilier Megève, 60 years of customer service

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BOAN Immobilier Megève, 60 years of customer service, for locals and clients from around the world

Emmanuel BOAN, CEO of BOAN Immobilier, reveals his strategy over the past decades. In real estate, everything requiered inventing… and so much remains to be done.

Your father, Pierre Boan, created his first real estate agency in Megève in 1960…

Emmanuel Boan : My father, who had been working in real estate for ten years, decided to set up his own business. He founded the company Boan & Compagnie in 1960 with view to purchasing the local estate agents, Panisset. At that time, our offices (25 square metres) and two employees, were located on the floor above the current agency, in the heart of the village.

What was his main activty ?

Emmanuel Boan: He focused mainly on sales, seasonal rentals and property management. Tenants often reserved for three months, in both summer and winter. Pre-sale contracts comprised a two page document and a simple letter of agreement concerning the property and its price. A handshake was often enough to secure a deal. This period was conducive to sales with a price per square metre of around 1,000 francs (approximately 150 euros) for a new apartment in the centre of Megève!

Pierre BOAN

In the 1970s, the company began to prosper ?

Emmanuel Boan: My parents abandoned property management and insurance activities to focus exclusively on the sales and rental of holiday properties. An intelligent decision that enabled them to buy the entire building, expand the office premises (still in use today) and open an office in Paris, Avenue de l’Opéra, in partnership with eight other colleagues from the Alps, to rent apartments and chalets in the mountains. They were forerunners in the business at a time when winter sports resorts were growing rapidly and everyone wanted to discover the mountains.

In 1980, you took over the family business ?

Emmanuel Boan: At our parents request, my sister and I returned to Megève to become partners in the family business. I managed the sales transactions and Catherine the rentals. At the time France was in recession and Megève in decline. Sales were affected as a consequence. A year later, we decided to optimise the management of holiday rentals by installing a computer system (the second alpine real estate agency to install this type of technology, behind Val d’Isère). In 1984, we opened a second office in the Rochebrune sector.

Time to develop the agency and create new services ?

Emmanuel Boan : In 1985, when I became Managing Director of the company, I decided to develop the business by offering new services such as rental management and co-property management services as early as 1987.

In 1986, you experienced a recored year ?

Emmanuel Boan : After several difficult years, property prices dropped sharply and, as a result of a change in government, demand exploded. In 1986 we completed a record total of 110 sales transactions!

In 1995, Boan Immobilier opened a third office in Megève ?

Emmanuel Boan : As competition in the sector increased, we bought the “Agence Immobilière du Mont d’Arbois” from the Edmond de Rothschild family and opened our third office on Mont d’Arbois, where the most sought after properties are located. At this period in time business was booming, due in part to the creation of the Fermes de Marie by Jocelyne and Jean-Louis Sibuet, who reinvented the art of alpine living, creating new dynamics within resort.

At the same time, you chose to get involved in village life, holding various positions within the town hall and the tourist office ?

Emmanuel Boan : In 1995, I occupied my first post as deputy Mayor (a position I held for thirteen years). I also became President of the tourist board.

1998-2008 marked the golden age of alpine real estate ?

Emmanuel Boan : 1998 to 2008 were exceptional years. In a coveted alpine real estate market, prices, which had never been higher, tripled over this period. It was impossible to respond to demand, with a lack of properties on the market. Since then, the real estate market has changed significantly.

Did the situation provoke competition ?

Emmanuel Boan : While the 2008 crisis deeply marked the property sector, the market started to recover in 2010 and many high-end properties were selling well. This, of course, provoked competition. Luxury real estate brands began to invest in Megève – the goose that laid golden eggs! The resort now boasts approximately 30 real estate agencies and/or independent agents. Prices began to soar with rates per square metre ranging between 15,000 and 19,000 € for a new apartment in a favourable location. In the space of fifty years, prices have increased 100-fold!

In 2011, you achieved your second record year ?

Emmanuel Boan : 2010-2011 remains another record year in terms of sales, a situation driven by supply and demand.

What is the BOAN Real Estate Group worth today ?

Emmanuel Boan : Boan Immobilier boasts 19 employees and an annual turnover of 2.8 million euros in 2020, one of our best years, with more than 60 transactions completed, some live on Zoom (one of the undisputed assets of digitalisation)! 2020 was the best year ever in terms of holiday rentals and the second best year in terms of sales transactions. In this we rejoice, given the health crisis we have been facing since last March. In sixty years, we have completed approximately 3,000 sales transactions and some 60,000 seasonal lets. Boan Immobiler remains the number one real estate agency in Megève. We boast a generalist approach and a closeness to our customers.

MEGEVE AND HIS HISTORY
———–

1920

Baroness Noémie de Rothschild, after
acquiring several hundred hectares on Mont
d’Arbois, built the Palace des Neiges, comprising a
luxury hotel and several chalets.

Her wish was to see
Megève compete with St. Moritz, where international
aristocracy and business men would rub shoulders.

1930

Armand Allard, who established the renowned
luxury fashion house AAllard, launched his famous ski
pant – rapidly becoming a sought-after fashion item.

Émile Allais, the skier from Megève, originally asked
Armand to design a ski pant in stretchy fabric with an
elastic underfoot to keep his trousers in his boots!

1940

One of the first estate agents in Megève
(Panisset – Alpes Immobilière), was created by
Lucien Panisset.

1950

After starting his career as a banker,
Pierre Boan took his first steps in real estate, as an
employee at the estate agents Bizeray.

1960

Adrien Duvillard senior was ranked the world’s
best skier, before becoming World Champion in
1963, 1965 and 1969.

Over the course of the past
decades, this local family has been seen on the
podium numerous times.

Henri Duvillard continued
the tradition, boasting seven victories and twenty
podiums.

In 1980, the champion gave his name
to a successful ski wear brand (since sold to the
businessman Jean-Philippe Caille, a local by adoption).

Crédits photos : Emmanuel BOAN, Agence BOAN, TOPS photos, Daniel DURAND, Mairie de Megève