TIMOTHY Rabbitt is one of the candidates seeking to be elected to the national board of the Australian Property Institute (API).
Rabbitt said he wants to better promote valuers and property professionals, and the important role they play in the economy.
“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 advices that an automated assessment cannot, for example risk management, and condition reporting,” Rabbitt said.
- What is your interest to come on board with the Australian Property Institute?
I have been on the Board now for two years and my focus is still the same as when I originally nominated, that is to continually raise the profile of our industry and our members. 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 advices that an automated assessment cannot, for example risk management, and condition reporting.
- What financial experience or expertise do you bring to the API?
I was formerly an owner and the Managing Director of Taylor Byrne Valuers, which is a business with over 150 staff and a turnover in excess of $20 million.
I am now the Acting CEO of LMW, a firm with a turnover in excess of $40 million. As a former Managing Director and now CEO I am responsible for the financial performance of the 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?
I have been involved either as a Director, Managing Director or CEO of the corporate entities for over 20 years. As part of my former and current role I meet with the Board and regularly set and review internal policies and procedures relating to operational and financial processes
This includes:
- Risk management;
- Awareness of Director’s roles and responsibilities;
- Shareholder reports and communications;
- Assessing performance against strategy;
- Legal and finance 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 and now with LMW, 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.
- To further pursue API’s strategic direction, it would be of great benefit if prospective Directors could contribute advocacy, policy and or digital communications experience to the Board.
As a business owner and Director, I have had experience in advocacy for issues that I believe in and support. This has been based on preparing a strategy surrounding the issues and preparing a persuasive case in support of that issue. I have also been involved in policy development within our business. I will bring these skills to the Board.
- 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.
The Australian Property Institute (API) Board Elections will open on Thursday 18 July 2019 until 23:59 AEST on Sunday 28 July 2018.
The API has partnered with CorpVote to provide an online voting service. All eligible voting Members will receive emails from CorpVote with details of how-to login and vote.
