Wednesday 7th August 2024 - The Business (JEP) Written by: Emily Moore Photography: Rob Currie
If there is one word which Margaret Thompson would like to see struck from
the dictionary, it is “can’t”. And it is perhaps because the softly spoken yet determined estate agent “doesn’t believe in can’t” that she has gone from a shy 18-year-old who arrived in Jersey “with nothing” to a successful businesswoman who is now the owner and chief executive of Fine and Country Jersey. “When I moved to the Island, I worked
as a dishwasher for a couple of years before I started working in cosmetics, something which I continued to do for about ten years,” she reflected. “I was constantly looking for new ways to sell products and was the first person to go out and spray perfume to people walking up and down King Street.” With her innovative mindset and inbuilt determination, it is unsurprising that Margaret won numerous retail competitions, regularly outperforming her fellow sales consultants. But while there were opportunities to progress within the cosmetics industry, Margaret was ready to
explore different avenues. “I could have become a sales manager but that would have involved a lot of travel and I wanted to stay in Jersey,” she explained. “I also wanted a challenge, so I spent about six months trawling through the recruitment adverts in the JEP until I saw something which excited me.” The advert which caught Margaret’s eye
was headlined: “Earn £30,000 a year as an estate agent.” With no experience in
the industry required, Margaret made an instant decision.
“I didn’t just decide to apply for the job; I decided that was going to be my job,”
she said with a smile. “A total of 64 people applied for that position but I wanted
it so badly that I got it. I don’t believe in can’t. I wanted that job and I was going to
get it.” Entering what was, at the time, a male-dominated industry – “I became the
fourth female negotiator in the Island” – Margaret completed her training before
going on to work for another established agency for 12 years. “It was in 2000 that I decided it was time to set up my own company,” she said. “By that time, I had gained a lot of experience and a good following, so it was a case of ‘now or never’.”
That company, which officially opened for business in 2001, was Thompson Estates. And although Margaret may have amassed significant industry experience
over the past 15 years, there were, as she admits, certain things that she had “no
idea how to do”. “I had never used a computer in my life. However, I went out and bought four Apple Macs and started learning how to use them,” she said. And there was another, rather less glamorous, lesson which she had to learn. “I set up Thompson Estates in a tiny office in Beresford Street,” she said, “and the first job of each day was removing the pigeon poo from the outside toilet.” Launching the business on a “shoestring budget”, what Margaret lacked in financial backing she made up for in “blood, sweat and tears”. Although there were some nervous moments in the early days, the business blossomed, employing more negotiators and moving to King Street in 2006. It was soon after moving into the prime retail space on the corner of King Street and the Royal Square that Margaret received a visit from Malcolm Lindley, the
founder of Fine & Country. “I loved his concept and vision for his firm,” she said, “but the Thompson Estates brand was very strong and, at that time, there were not that many high-value residents moving to the Island. Therefore, at that time I didn’t see a place for Fine & Country within my brand.“ However, because I loved the concept and could see its potential, I took on the Channel Islands franchise, and just let it lie dormant for a while, and then I started to use it alongside the Thompson’s brand in 2012 when the demand for luxury properties began to grow.”
As that growth continued, in 2019 Margaret and fellow directors Rebecca Sokrati and Vicky Gurd decided to “give Fine & Country its own identity”, which they supported by renting the shop adjacent to Thompson Estates. And that was when the team’s work
started to diversify. “We were no longer just selling properties,” Margaret explained. “With Fine & Country, the emphasis is very much on selling Jersey and offering a full concierge service. We collect clients from the Airport, give them a tour of the Island,
show them the beaches and restaurants, and arrange meetings with head teachers
if relevant. We don’t talk property at all at the beginning.“ The idea is to give that seven-star service, so that those people who are trying to decide in which jurisdiction to live give serious consideration to Jersey.” It was an approach, said Margaret,
which proved very successful and which supported the growth of the international
Fine & Country business. “There are now more than 300 Fine & Country offices around the world, which gives us tremendous buying power when it comes to media space for advertising our properties,” she said. “With that in mind, although it was sad
to let go of Thompson Estates, I knew, in my gut, that it was the right time to let
Fine & Country take over. It was a difficult decision because Thompson Estates was
like our baby but the opportunities with Fine & Country are tremendous.”
Despite this potential, though, Margaret stresses that the Island is not an “automatic choice” for high-value residents. “While our geographic position gives us some advantages, we do have a lot of competition,” she said. “Jersey is not the
cheapest place for people to live, so you really have to sell the Island’s natural beauty, security and quality of life.“ Given the opportunities presented by other jurisdictions, the decision to rebrand was quite bold but I am optimistic and confident that the Fine & Country brand will thrive in Jersey. We have an amazing team, most of whom have been with me for between ten and 20-plus years and we are keen to recruit more negotiators now that the office refurbishment is complete the brand firmly launched in the Island.” Also supporting Margaret’s optimism is her unwavering confidence. “We know our approach works and the plan now is just to keep the sales coming,”
she said simply.
“I strongly believe that life is what you make it. As Henry Ford said,
whether you think you can or you can’t, either way you’re right. I’ve never done
‘can’t’ and that’s the philosophy I share with my team.”