Valcre, the premier valuation software for the commercial real estate industry, today announced its continued expansion across the state of New Jersey with new client partners Otteau Group, Inc. and Pyramid Real Estate Advisors signing onto the platform.
“As we head into recessionary economic conditions for commercial real estate, appraisal and valuation professionals are adapting to the changing environment by diversifying their services to generate revenue,” said Lucas Rotter, Valcre Co-Founder and CEO. “With demand for transaction-related services on the decline, we expect to see a substantial increase in demand for property tax appeal and loan monitoring services in the foreseeable future. We are really excited to be working with leading regional firms like Otteau Group, Inc. and Pyramid Real Estate Advisors who are dedicated to improving efficiencies and delivering higher quality appraisals in less time. The surging demand we’re experiencing from valuation professionals in the New Jersey market is a true testament to the product and satisfaction of our users.”
In addition to Otteau Group, Inc. and Pyramid Real Estate Advisors, the foundation of New Jersey-based appraisal firms that utilize Valcre’s solution include Meehan Valuation, Wade Appraisal, and Ard Appraisal. More than 60 valuation professionals are now leveraging Valcre statewide.
“Valcre has dynamically changed the way we do business,” said Chris Otteau, Managing Partner & Chief Appraiser at Otteau Group, Inc. “Its software has allowed us to better harness and utilize our own data, and saves us valuable time through the automation and collection of property research for our reporting. Valcre has made us even more efficient in the services we offer clients and we feel well-equipped to weather any economic situation due to the diverse property types Valcre supports.”
Valcre’s growing list of clients comes at a time of rapid team growth and product innovation. In 2022 Valcre announced $12.7 million in Series A funding to deepen its commitment to helping appraisers simplify and streamline their workflow. The company’s software is used to deliver more than 50,000 commercial real estate appraisals on an annual basis.
Valcre’s suite of services provide faster turnaround times, increased access to property research and comps, and professional reporting capabilities that enable valuation professionals to complete the greatest variety of appraisals with an efficient tech-enabled platform.
“The decision to incorporate Valcre’s platform into our operation was an easy one,” said Dallas Whitaker, Managing Director at Pyramid Real Estate Advisors. “The platform will help us streamline our processes and make our business more efficient. This allows us to be prepared for any shifts in the real estate market this year due to economic headwinds. The Valcre team has done a great job of helping us through the setup, training and adoption processes.”