Keeping Pace With Demand: Why Now Is The Time for Valuation Professionals To Embrace Modern Technology

Abstract

Fresh off a $12.7 million Series A, we wanted Valcre's Co-Founder and CEO Lucas Rotter take on the state of and the future of appraisal industry. Valcre is the commercial real estate industry's leading appraisal workflow and reporting software provider. Why is appraisal demand near record highs post-pandemic? How does Valcre's platform help mitigate those challenges? Appraisal services are experiencing surging demand across all corners of the commercial real estate industry following the market disruptions caused by the COVID-19 pandemic. Valcre is the market leader in appraisal software because it enables users to tackle a greater volume of business by reducing manual data entry, increasing access to comparables, and automating report development to manage the influx in workload. What are the barriers to entry for young talent? Studies show that real estate appraisals is a graying industry and the average commercial appraiser is around 60 years old. Lastly, much like the larger commercial real estate industry, the appraisal industry is fragmented, as many small companies make up the field. In your opinion, what are some of the biggest improvements to appraisal technology of the last 5-10 years? For example: software, security, cloud computing? The evolution of appraisal technology has been sparked by an increase in demand for services, streamlined processes, and remote collaboration, which has been accelerated over the past two years by the pandemic. Lastly, why is now the perfect time for valuation and appraisal professionals to embrace modern technology? Now is the perfect time for valuation and appraisal professionals to embrace modern technology due to the high demand for appraisal and advisory services post-pandemic.