Business Insights | Iconic and rare. So are the assets they value.

From Uluru and Ned Kelly’s armour to Blue Poles in the National Gallery of Australia, Todd and Ty have made a career of putting a value on assets many would view as priceless.  

With more than 40 years of experience between them, the pair have travelled to all corners of Australia to see everything from ‘the dish’ in Parkes, deep space radio telescopes in the outback through to Antarctic research stations, and items under tight security in the back rooms of Parliament House.  

And while no two days are ever the same for the pair what is always reliable is the trust, stability and consistency they both bring to every project.  

More than numbers 

Value is determined by many things and it takes experience and judgement to deliver accurate and compliant valuation outcomes. 

“I think a lot of people see valuation like a ‘silver bullet’,” Todd explains. “They think you can use the same valuation for insurance or to sell an asset but it’s more complex than that. There’s a misconception that we’re an oracle that comes up with a number and that’s it. But the value of something changes with context, definition and purpose. At the end of the day a valuation is a professional opinion and opinions can and do differ.” 

Ty adds that their role has increased in complexity in recent years with increased regulations and standards that need to be applied to deliver a valuation that is both meaningful and compliant.  

“Clients have also become a lot more interested in the process and ask more questions,” Ty explains. “During my almost 30 years as a valuer, I have seen it become very important that you are able to clearly explain the background of how you have come up with your valuation outcomes. There is a lot more rigour these days from auditors and clients than there was 20 years ago. 

Unusual places are part of the job 

Todd and Ty both agree people are usually surprised at the breadth of different assets they value which includes heritage and cultural assets through to landmarks and buildings. 

“Seriously, anything you can think of in your wildest imagination, we've probably seen it or something like it,” Todd says. 

“Something people usually find surprising is how much travel is involved,” Ty explains. “The government practically owns one of everything and the assets could be anywhere. We probably average 60 to 80 flights a year around the country. Our patch is between Christmas Island and Norfolk Island and everything in between.” 

There are many assets overseas too, including Australian embassies located around the world, which need to be valued. 

Communication and curiosity 

And while unusual assets and travel are a big part of the role, both Todd and Ty agree that people are the essential ingredient when it comes to delivering the best results.  

“You definitely need to be personable,” Todd explains. “You need to be relatable and be able to connect with people because with our work, we’re moving across a lot of different asset types and we meet people from all walks of life. To be successful, you need to know the best person to talk to and then be able to build rapport to get the information you need.  

“I have seen a lot of people come and go in this work and the ones that do well are relatable, good communicators and are able to be flexible in their approach. If you are rigid and want to do things your way or the same way every time you will struggle.” 

Ty adds that knowing the limits of your expertise and when to say ‘no’ to an engagement is also important. 

“As Valuers, we must uphold our professional standards and not undertake a valuation that is outside of your areas of expertise,” Ty says.  "Having a level of confidence rather than arrogance in your ability to apply your trade as a Valuer is critical. That does not mean you cannot expand your valuation skillset. Having a diverse team around you to work with and learn from ensures you don’t ‘stand still’ and can continue to advance your career and develop your skills.” For both Todd and Ty, it’s the people they meet that have kept them in the industry for so long.  

“I love the diversity,” Todd explains. “One minute I’m in a meeting about an energy asset, then a meeting about an art collection, and then I’ve got a meeting about infrastructure on remote islands off the coast of Australia. So every day, every hour is different.  

“But the main thing is the team you work with. That’s something that matters more to me now than earlier in my career, I like investing in people and building relationships that last over time. I’ve met a lot of great people along the way. In our work there are a lot of crunch times and knowing you can rely on people around you and also have laugh and fun along the way is really important,” Todd adds. 

“A big part of what keeps me interested are clients that really appreciate what we do and you have those relationships for such a long time,” Ty says. “At the end of the day, the best part of my job is making clients happy, going beyond and giving them what they need. And that's where we differentiate, we really work for clients that want a valuation rather than numbers on a page.”