| Type | Private |
|---|---|
| Genre | Real Estate |
| Founded | 1923 |
| Founder(s) | Val Barfoot |
| Headquarters | Auckland City, Auckland, New Zealand |
| Number of locations | Auckland and Northland |
| Owner(s) | Barfoot & Thompson Family Directed by Peter Thompson & Garth Barfoot |
| Website | www.barfoot.co.nz |
Barfoot & Thompson is a privately owned, non-franchised real estate company based in Auckland, New Zealand. The company is owned and managed by The Barfoot & Thompson family and is directed by Peter Thompson and Garth Barfoot.
“The company has 60 branches across Auckland and Northland selling residential, rural, lifestyle and commercial property” Barfoot & Thompson., n.d.).
“The company also has a property management division, with Property Managers in 54 of the 60 branches” (Barfoot & Thompson., n.d., 2).
“Barfoot & Thompson is a member of the REINZ, the New Zealand Realtors Network and an associate of Savills” (Barfoot & Thompson., n.d., 3).
Contents |
1923 – "In January 1923 a shy, 25-year-old Englishman, Val Barfoot bought a land agency business in Newmarket, Auckland for ₤75 and named it 'V. Barfoot Land Agent’. Val was 25 years old, had only been in the country three months and had no real estate qualifications but none were necessary. Completely by himself in the office he had no staff, no receptionist and no phone." (Barfoot, C., 2000).
1924 – Val’s brother Kelland Barfoot joins the company. The name changes to Barfoot Bros. Val and Kelland expand the business to include letting and rental services.
1929 – Barfoot Bros moves premises to Queen Street.
1934 – "During 1934 Maurice Thompson had brought his proven sales and team leadership skills to the firm." (The University of Auckland Business School., n.d.).
1940 – Maurice Thompson is made partner. The company becomes Barfoot & Thompson.
1950 – "The partnership suffered a blow, the unexpected death of Kelland Barfoot at the age of 55. He had been a partner of Barfoot Brothers for 26 years" (Barfoot, C., 2000).
1953 – "Following 1953, 37 offices were established" (Barfoot, C., 2000) and 11 years later Head Office decided to move from their 35-year-old office to a larger vicinity. Shortly after the move the company endured another blow, the death of Maurice Thompson. The company was then passed onto the second generation, Monty Thompson, John Thompson, Chris Barfoot and Garth Barfoot who was made director.
1960s – Barfoot & Thompson is passed on to the second generation - Monty Thompson, John Thompson, Garth Barfoot, and Chris Barfoot.
1968 – Garth Barfoot is made director.
1997 – Peter Thompson, grandson of Maurice Thompson, is made Director.
2010 – "Thirteen years later the firm has remained in family hands, headed by Peter Thompson and Garth Barfoot with over 60 branches and more than 950 salespeople." (The University of Auckland Business School., n.d.)
The Real Estate industry in Auckland began slowly through the period of colonisation of New Zealand. Auckland had its first boom in the 1880s which also introduced a variety of new selling techniques: “Potential buyers were often given free train or bus passes so they could view the land for sale. The auctioneer of a Mt Albert estate in 1885 even promised to distribute gold watches and jewellery amongst would-be purchasers” (Ministry of Culture and Heritage., n.d.). “From 1890 to 1900 business in Auckland was at low ebb. Property was very difficult to sell, and buyers were few and far between” (Then and now. Land and property sales., 1926). Land values soon steadily increased and the property market became active. Sections in the Epsom area became available for £200 and, a year on, there was considerable demand for properties.
The depression and war years slowed the market again: “the Auckland real estate market showed very little sign of growth from 1929 to 1940” (Barfoot, C., 2000). In 1943, the Land Sales Act was approved requiring all agents to have a real estate licence to sell land. Soon after, in 1949, the National Government lifted property sales restrictions and listings and sales increased rapidly (The University of Auckland Business School., n.d.).
“In the 1970s, the property market once again experienced a decline, which was resolved by the cross-leasing of land. During 1972 to 1973 the market became active with an increase of “speculators, both amateur and professional” (Barfoot, C., 2000).
Auckland housing prices climbed steadily in the ensuing 20 years.
As a nation, New Zealanders are said to have a love affair with owning property. May 2010 data from Catherine Harris shows that “around $100 billion is tied up in investment properties”, compared with “$76.5 million shares turned over” (Businesswire., 2010).
Garth Barfoot
Garth Barfoot is the youngest son of Barfoot & Thompson's founder, Val Barfoot. His career has spanned 51 years and he is the longest-serving member of Barfoot & Thompson.
Garth began his career with Barfoot & Thompson in the accounts office and progressed to become a Director in 1968. He is also a former President of the Auckland branch of the Real Estate Institute of New Zealand (REINZ) and was made a Life Member of the REINZ in 1991.
Three members of Garth Barfoot’s family also work for the company, his daughter Kiri Barfoot, son Henry Barfoot and nephew Stephen Barfoot.
“Garth competes in many iron-distance races, is a lifetime member of North Harbour Triathlon Club and sponsors Challenge Wanaka.” (Challenge Copenhagen., 2009).
Peter Thompson
Peter Thompson is the grandson of Maurice Thompson, the first Thompson to join the company.
Peter started his real estate career almost 25 years ago in the rental division at the Otahuhu branch. He continued to move through a number of positions in the firm including sales, administration and management. He was made a Director in 1997.
Peter is on the board for the Auckland Rugby Football Union (ARFU) and is a life member of College Rifles.
"Barfoot & Thompson are passionate about supporting the Starship Foundation. That’s why we’re committed, as Five Star sponsors, to giving them a guaranteed annual financial contribution. This helps them provide equipment and services that are outside normal government health funding – the extras that make all the difference to young patients and their families.
For our team, supporting the Starship Foundation also means giving our time and resources. That’s why we also sponsor a number of fundraising activities and are the sole funder of the Magic of Reading programme which donates a new book to every child who spends a night or more in hospital.
-Guaranteed annual financial contribution.
-Sole funder of the Magic of Reading programme.
-Sponsor the Friends of Starship’s annual Christmas Cracker House Tour.
-Special one-off fundraising campaigns such as our ‘Building our Children’s Health’ campaign in 2004, which purchased a new $300,000 ultrasound for Starship Radiology.
-Purchase of $80,000 of paediatric cardiac theatre equipment in 2007.
-Support in kind such as the provision of free auctioneering services at Starship fundraising events. -Collectors for the annual appeal" (Barfoot & Thompson. (n.d.), 6).