Class Valuation, a national appraisal management company, acquired AppraisalTek (ATek), a nationwide appraisal management company with a large footprint in the Western region of the United States.
The transaction represents an opportunity for Class Valuation to build additional scale with both new and existing clients around the country. The company’s staff appraiser network and strong reputation for solid relationships, superior customer service and robust performance will bring meaningful value to its customers.
“AppraisalTek’s leading Key Performance Indicators (KPIs) and deep product, regulation and industry knowledge made it a great fit for us,” said John Fraas, Chief Executive Officer at Class Valuation. “By combining AppraisalTek’s and Class Valuation’s core capabilities, scale, in-house appraiser network and complimentary areas of expertise, we will be able to deliver a best-in-class experience to our collective customers.”
ATek’s in-house staff appraiser program will be absorbed into Class Valuation’s growing organic network of staff appraisers and its staff appraiser teams which were brought on through the acquisitions of MetroWest and Synergy. The expanding network will help Class Valuation increase its customer service metrics to improve the experience for clients of both AMCs.
Additionally, ATek’s staff appraiser network and market coverage will enable greater scale with Property Fingerprint, Class Valuation’s digital appraisal platform, which is revolutionizing the appraisal industry through streamlining the data collection process and significantly reducing turn times and revision rates.
Founded in 2003 by Robert Oglesby (CEO) and headquartered in Chandler, AZ, ATek’s team consists of 75 full-time employees which Class intends to bring on board and join its team. ATek operates in all 50 states and the District of Columbia and has a significant staff appraiser impression in Arizona.
“AppraisalTek sought out to partner with an industry leading organization and recognized Class Valuation as the best AMC to allow our clients access to a greater portfolio of valuation technologies,” said Oglesby. “AppraisalTek was built around the culture of C.A.R.E, which focused on exceptional customer service and an employee first environment. Class’s innovation, client-centric focus, and leadership made this a phenomenal win for both teams.”
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