Barfoot and Thompson, the country’s biggest privately-owned real estate company, is run by Peter Thompson and Kiri Barfoot, the grandson and granddaughter of the original owners.
The company was started in 1928 by Val Barfoot who bought a small run-down Newmarket land agency for just 75 pounds and a year later he was joined by his brother Kelland.
In 1934 the brothers were joined by Maurice Thompson and the Auckland company changed its name to Barfoot & Thompson in 1940.
The company now has more than 2000 staff in over 70 branches across Northland and Auckland and sells more than one in three properties in Auckland. The company has expanded its activity in the property management sector, with over 17,000 rental properties in Auckland and Northland.
Body corporate management is the next frontier as Auckland expands outward and upward, Kiri Barfoot said.
The company has remained family-owned – half by Val Barfoot Ltd and half by Maurice Thompson Ltd. The shareholders of Val Barfoot include his son Garth, who retired from the business two years ago and holds a 32.27% stake, Chris (22.73%), Kiri (14.77), Stephen (14.77%), Patricia (9.55%) and Henry (5.91%). On the Thompson side, Peter Thompson holds 50% while Margot Thompson has the other half.
Garth Barfoot’s son, Henry, and his nephew, Stephen, are also involved in the family business along with Peter Thompson’s daughter Paula and her cousin Matthew.
Peter Thompson joined the firm in 1981 in the rental division at the Otahuhu branch and was made a director in 1997 and managing director in 2005. He’s also a life member of the Real Estate Institute and was made a life member of Auckland Rugby in late 2017.
Kiri Barfoot started learning the ropes in the family business, working in accounts in 1991 while studying for her commerce degree. After travelling overseas she return as a salesperson before working her way up the ranks, becoming a director in 2011.
Her father Garth retired two years ago and at the age of 83 remains an avid triathlete and has entered hundreds of triathlons and 33 Ironman events, completing 20 of them. He recently won a gold medal in Spain for the 80 plus age group.
“He calls himself a professional athlete,” said Kiri Barfoot, who has also competed as a triathlete.
Since 2003 the company has sponsored the Starship Foundation, raising $4.7 million. It has helped equip the children’s hospital with new medical technology and wards, and recent projects include the development of Whare Hauora, a purpose built mobile health pod situated at local primary schools in low decile areas to provide more accessible healthcare.
2018: $100 million