W&F December 2017

www.wealthandfinance-news.com 24 Wealth & Finance International - December 2017 Looking ahead, modernisation will be the firm’s core focus as it seeks to remain at the forefront of emerging developments in the real estate market and embraces technology, as Peter highlights. “Undoubtedly technology will transform the real estate business in the future. Already, being able to market property via all forms of devices, make virtual house tours and undertake research on a property via the internet has made a big impact. It is my belief that this is only the beginning. Rather than seeing this as a threat, we see it as an opportunity to serve our clients even better. “In being determined to remain on the leading edge of these developments we also firmly believe that face to face, one on one contact will continue to give our brand the edge over competitors. The two will go hand in hand, and we will invest heavily in both to ensure continued excellence for everyone who works with Barfoot & Thompson.” Ultimately, through his role as Managing Director Peter understands the need to drive innovation in Barfoot & Thompson, and moving forward this will remain his ongoing focus as he looks to drive the company to continued success. “Running a family business on the verge of celebrating its 100th birthday certainly adds unique challenges to the role of chief executive. Among them is a sense of history and responsibility to past generations, and the need to ultimately transfer the business to the next generation in a better shape than when you took over. The appointment is a long-term one rather than medium term engagement. “The need to modernise, to keep innovating and leading is always there, but needs to be balanced with tradition, culture and expectation. The concept of long service and loyalty to the company remains among staff, and needs to be respected. We take pride in developing and maintaining long-term relationships with business partners. We expect sharp pricing and superb service, but do not ‘review relationships’ just to see what’s out there. One example is we have dealt with the same bank for nearly 100 years. “My personal approach is to lead strategically, and from the front line. Members of the founding families who work in the company are expected to understand how it operates by working ‘on the shop floor’ and earning their promotion to management positions based on ability. As such, I would never except a member of my staff to do something that I was not able and willing to undertake myself. It is this approach that will help us to continue to thrive and prosper, and as such I look forward to even greater achievements in the future.” “The need to modernise, to keep innovating and leading is always there, but needs to be balanced with tradition, culture and expectation.”