Class Valuation Acquires AppraisalTek – NMP Skip to main content

Class Valuation Acquires AppraisalTek

David Krechevsky
Aug 03, 2022
Class Valuation

National appraisal management company said the acquisition represents an opportunity to build additional scale.

Class Valuation, a national appraisal management company, recently acquired AppraisalTek (ATek), a nationwide appraisal management company with a large footprint in the Western region of the United States. 

Financial terms of the transaction were not disclosed.

Class Valuation said the acquisition represents an opportunity to build additional scale with both new and existing clients around the country. Atek’s staff appraiser network and strong reputation for solid relationships, superior customer service, and robust performance will bring meaningful value to its customers, Class Valuation said.

“AppraisalTek’s leading Key Performance Indicators (KPIs) and deep product, regulation, and industry knowledge made it a great fit for us,” said John Fraas, Class Valuation CEO. “By combining AppraisalTek’s and Class Valuation’s core capabilities, scale, in-house appraiser network, and complementary 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, Class Valuation said. The expanding network will help Class Valuation increase its customer service metrics to improve the experience for clients of both AMCs, it said. 

Additionally, ATek’s staff appraiser network and market coverage will enable greater scale with Property Fingerprint, Class Valuation’s digital appraisal platform, which the company said is revolutionizing the appraisal industry by streamlining the data collection process and significantly reducing turn times and revision rates.

Founded in 2003 by CEO Robert Oglesby and headquartered in Chandler, Ariz., ATek’s team consists of 75 full-time employees, which Class Valuation intends to bring on board. 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,” Oglesby said. “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.” 

Class Valuation is a nationwide appraisal management company. Founded in 2009, Class Valuation is headquartered in Troy, Mich.

Aug 03, 2022
Homeward Lays Off 20% Of Staff

Alternative real estate financing company cut about 120 jobs.

Industry News
Aug 12, 2022
Lone Peak Lending Joins Panorama Mortgage Group

Names Donovan Stamps as president.

Industry News
Aug 11, 2022
Fairway Independent Mortgage Hires Former PrimeLending President

Firm says Scott Bristol is part of aggressive originator expansion.

Aug 11, 2022
Mortgage Rates Jump Back Above 5%

Freddie Mac says rates recent volatility continues.

Industry News
Aug 11, 2022
Redfin: Share Of Relocating Buyers At All-Time High In July

People are looking for less expensive and better lifestyles.

Industry News
Aug 11, 2022
Redfin Expands iBuying Business To Florida

RedfinNow, which makes cash offers for homes, now operates in 34 markets in 16 states and the District of Columbia.

Aug 11, 2022