James Snodgrass heads up the fourth generation of the family business, Forsyth Real Estate. Started in 1898 by his great grandfather Robert Todd Forsyth, the agency is an icon of the industry in Sydney and is attributed with some of the great innovations in the sector.
James’ introduction to the family business was early on as a 17-year-old, where he worked for a number of years before travelling extensively and later joining the army and training as a commando. James returned to Forsyth 23 years ago and now heads up the business.
Strong family values
‘In this business, you often hear of different ones refer to family values and how important it is in the industry. The world has changed so much in my lifetime, and we have seen tremendous growth in the industry. It’s easy to lose sight of what made the business a success in the first place when you’re in the throes of adapting to changing times and embracing new technologies. But it has always been family values that we refer back to every time we institute any change to the business.’
Innovation and change
‘We are very proud of the innovation and changes instituted over the generations. Some of which may seem quite insignificant in the modern era, but try if you can, to picture how visionary they were at the time and in some instances, how they impacted the way the industry operated.’
‘Forsyth’s were the first agency on the North Shore Line and a founding member of the NSW Real Estate Institute. We were the first agency to use a typewriter. Hard to imagine in our computer-driven world today. Another first, we were the agency that started the practice of driving clients to property inspections, the first in Australia to have a female agent, the first agency to use the super data system and the first agency in the world to accept Crypto Currency.’
A whole of Sydney approach
‘A big shift in thinking is the way we operate now. Once upon a time, it was thought that you had to stick to your patch to be successful, and that was the only way you could maintain loyalty with your customers. Our experience is that our loyal customers have properties all over the place, and they want to deal with the agency they trust more so than the one in that suburb necessarily.’
‘With the internet playing such a huge part in our industry now and communications so interactive and easy to use,¬ we can be effective everywhere in Sydney, at short notice if need be. We also have employees based strategically around the city to provide the service our clients expect. I personally make it my business to explore a different suburb every week. Not just for my own interest but to provide across-town knowledge to the team. We may not be the number one agency in our suburb anymore because our vision is more expansive, but our growth has been significant, and we are very well placed for the next ten years or more now.’
A long association with REI Super
‘Previous owner Michael Forsyth was actually on the board of REI Super at one point, and Forsyth Real Estate has been a long-term employer member of the fund. It has always been our view that superannuation is an important component of our employee's salary, and we encourage staff to get advice to make the most of their super. Too often, we see it in our industry, the temptation to go down the path of self-managed super only to realise down the track that it’s not as simple as accountants make it out to be. It’s a lot of work and hard to achieve returns anything like the level REI Super does.’
Forsyth Real Estate is a member of REI Super and is not authorised to provide advice on superannuation.
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The information contained in this article does not constitute financial product advice. However, to the extent that the information may be considered to be general financial product advice, REI Super advises that REI Super has not considered any individual person’s objectives, financial situation or particular needs. Individuals need to consider whether the advice is appropriate in light of their goals, objectives and current situation. Members should obtain and read REI Super's Product Disclosure Statement and Target Market Determination before making any decisions. REI Superannuation Fund Pty Ltd ABN 68 056 044 770 AFSL 240569. RSE L 0000314 REI Super ABN 76 641 658 449 RSE R1000412 MySuper unique identifier 76641658449129 [September 2023]