TAYLOR Byrne managing director Timothy Rabbitt is one of the candidates seeking to be elected to the board of the Australian Property Institute (API).
Australian Property Journal spoke to Rabbitt to find out why he is seeking to be elected to the API board.
Rabbitt said the API needs to do more to promote itself.
“People are forgetting at times the role valuer and the importance of valuations play in the economy.
“While we can’t stop the tidal wave of change such as technology, we can improve on the current situation.
“We need to attract other property professionals. The API needs to be broader than just valuers,” Rabbitt said.
Questions & Answers
What is your interest to come on board with the Australian Property Institute?
I have put my name forward for the Australian Property Institute as I want to help raise the profile of our profession as a whole and in particular that of valuers which still make up the majority of members of the Institute. Valuers and property professionals play an important part in the economy of Australia and we need to make sure that our professional skills are recognised and that a valuation offers much more than a single point figure.
As a whole, to stay relevant, we need to promote that we can provide insight that an automated assessment cannot, for example risk management, and condition reporting.
What financial experience or expertise do you bring to the API?
I am an owner, along with others, of Taylor Byrne Valuers which is a business with over 150 staff and a turnover in excess of $20 million.
As Managing Director I am responsible for the financial performance of that organisation, this includes revenue generation and cost control.
This includes:
- Budgeting;
- Creating internal financial delegations and approval processes prior to the expenditure of cash;
- Review of financial contracts for operational equipment and operating systems to ensure value for money is had; and
- Working with our internal and external financial accountants and auditors and having a good understanding of profit and loss and balance sheet reports
What governance experience do you bring to the API?
Taylor Byrne is a corporate entity and I have been involved either as a Director or Managing Director of the company for over 15 years. I meet with the Board and we regularly set and review internal policies and procedures relating to operational and financial procedures.
This includes:
- Risk management;
- Awareness of Director’s roles and responsibilities;
- Shareholder reports and communications;
- Assessing performance against strategy;
- Legal and accounts compliance;
- Delegation of appropriate authorities; and
- Client management and compliance.
What strategic planning experience do you bring to the API?
Managing a business requires strategic planning for the future, and with the Board of Taylor Byrne I have been involved in a series of strategic plans over the last 15 years which focus on our stakeholders including the industry as a whole, our people, our clients and our plans for growth.
In general, what can you bring to the API and why should members elect you?
While I will bring my financial, governance and management experience to the Board of the API, I will also bring my desire to assist the industry and to better promote ourselves and our important role in the property market in Australia.
Voting is open and will close at 11:59PM AEST on Thursday, 18th May 2017. Members are encouraged to register and vote at https://www.api.org.au/2017-agm-and-voting-for-api-directors
Australian Property Journal
