Valcre, the valuation software for the commercial real estate industry, on Monday announced the platform has partnered with Matawan-based Otteau Group Inc. and Pyramid Real Estate Advisors.
The company’s software is used to deliver more than 50,000 commercial real estate appraisals on an annual basis.
“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,” Lucas Rotter, Valcre co-founder and CEO, said. “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.”
In addition to Otteau Group and Pyramid Real Estate Advisors, other firms that utilize Valcre’s solution include Meehan Valuation, Wade Appraisal and Ard Appraisal.
In fact, more than 60 valuation professionals are now leveraging Valcre statewide.
“Valcre has dynamically changed the way we do business,” Chris Otteau, managing partner and chief appraiser at Otteau Group said. “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 said its suite of services provides 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,” Dallas Whitaker, managing director at Pyramid Real Estate Advisors, said. “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.”
Valcre has amassed a client base that includes Avison Young, Kidder Mathews, Kroll, Apprise by Walker & Dunlop, RSM and CohnReznick.