Opteon advances innovation within the appraisal industry through the acquisition of Valucentric
Opteon has acquired Valucentric. Opteon Global currently uses innovative technology to deliver an average of 2-day turn times and on-demand same-day appraisals in Australia and New Zealand. Opteon is customizing that platform for the US market. Valucentric is one of the most innovative appraisal firms in the United States. By uniting Opteon technology with Valucentric revolutionary processes, they aim to further disrupt the appraisal industry.
Valucentric is a staff appraiser valuation firm providing residential and commercial appraisal services throughout the United States. Valucentric developed a hybrid approach to improve upon the traditional valuation process. By utilizing a team-based system of appraisers, their staff can optimize individual strengths by focusing on fieldwork, data analysis, or report writing. The team system creates efficiencies and quality control through collaboration. Additionally, Valucentric has built an internal education system called Valucentric University. This industry leading training program is dedicated to building the next generation of appraisers.
“Innovation has always been a central pillar of Valucentric,” said Leland Trice, Chief Vision Officer of Valucentric. “We have continually focused on developing processes and technologies to benefit our employees and our clients. Culture and innovation have been critical elements to the success of Valucentric and we found kindred spirits with the Opteon team. By joining with Opteon, we can leverage their proven technologies to truly disrupt the valuation space and deliver next generation services to all stakeholders.”
Opteon requires a strong network of staff appraisers to utilize the full benefit of their innovative technology. Unlike many new technological developments in the real estate industry today, Opteon technology aims to support appraisers rather than replace appraisers. For more than ten years in Australia and New Zealand, Opteon has empowered appraisers by providing them with cutting-edge systems and data. Their tech simplifies the appraisal process and produces same day turn times.
Given Opteon’s success in Australia and New Zealand, Group CEO Chris Knight has relocated to the U.S. to more effectively support implementation and impact positive change in the industry.
“Valucentric is the ideal company to implement our technology,” said Knight. “Like Opteon, they are forward-thinking and innovative. Their mentality combined with their efficient appraisal process perfectly suits our needs.”
Opteon will continue to recruit and hire part-time and full-time staff appraisers within the traditional end-to-end valuation model. Valucentric’s team system will be blended with the traditional sole appraiser model to expand Opteon’s suite of valuation offerings to dramatically reduce turn times.
Opteon has invested nearly $15 million into the development of its customized technology. As they soon introduce their system to select U.S. markets, Valucentric appraisers will be critical. Valucentric appraisers will be the first to implement this technology in the U.S. and will help improve it during beta-testing. Valucentric will remain under the same name for several months but will be re-branded as Opteon by the time this technology is introduced.
Recently, Opteon established Opteon Appraisal, Inc. to house and expand their staff appraiser operation in the United States. Opteon Appraisal, Inc. will work independently of Opteon AMC, Inc., but will be a key support as Opteon moves towards its goal of same-day appraisals available to customers via multiple business channels.
Valucentric and Opteon customers can continue to expect quality, innovative reports as they make this transition.