The acquisition strengthens the footprint of the leading national rating management company in the Northeast
SCOTTSDALE, Ariz., July 1, 2022 /PRNewswire/ — Opteona leading international provider of appraisal, consulting and real estate services, announced the acquisition of Northeastern Appraisal Associates Residential (NEA), a Buffalo, New York-Based assessment management company (AMC) and staff assessment company. This partnership expands Opteon's presence in the Northeast, enhancing its nationwide service offerings and faster turnaround times in the fourth largest US real estate market.
Northeastern Appraisal Associates Residential has delivered high quality appraisal reports to New York community since its inception in 1972. NEA has senior staff and panel assessors throughout the New York area, serving some of the nation's leading mortgage lenders and originators. The partnership will also provide major new benefits for current NEA customers, including extended hours of operation, a multi-level 200-point QC process, and coverage in all 50 states with 13,000+ panels and 250+ staff appraisers.
“We have always focused on providing high quality assessments to our customers. With the market changing rapidly in recent years, we need to stay at the forefront of change to continue to provide such excellent services. Working with Opteon ensures that we are able to we provide our customers with an industry-leading experience,” he said Salvatore Vacanti, Vice President of NEWS Operations. Salvatore will continue to lead the evaluation team as its Operations Manager New Yorkwhile working with AMC department for seamless integration with our customers.
“Northeastern Appraisal Associates Residential has always strived to innovate and lead the industry. We do this by keeping the appraiser at the center of everything we do. Opteon's vision of empowering appraisers through technology aligns with our goals and we are excited to bring this cooperation to our customers”, he added Robert Vacandi, President NEA. Robert will join the Growth and Expansion team with Opteon USA to help develop national clients.
Founded in Australia in 2005, Opteon developed innovative technology that dramatically reduced turnaround times and revision rates. In Australia and New Zealand, Opteon delivers the majority of evaluation reports within 2 days, with a rework rate of less than 1%. By partnering with world-class rating agencies such as NEA, Opteon aims to bring this technology to the United States.
“Our technology works hand-in-hand with appraisers. By equipping excellent staff appraisers with our technology, Opteon is modernizing the appraisal process. Northeastern Appraisal Associates Residential is comprised of an incredible team that will be able to apply our technology to all northeastern US,” he said Chris KnightCEO of Opteon Group.
Opteon has experienced significant growth since the company's expansion into the US in 2019 and is one of the fastest growing rating companies nationally. This is Opteon's fourth acquisition in the past 12 months. Through these strategic acquisitions, Opteon has built a strong national Staffing Estimator model, allowing Opteon to use innovative technology to deliver drastically shorter turnaround times in the US. Together, the Opteon family of brands brings innovation and a high level of service to the industry.
About Opteon
Opteon is an international provider of valuation, advisory and real estate services through innovative software solutions. With the company's US expansion in 2019, Opteon has invested heavily in its technology to reduce turnaround times, increase quality and minimize human error without eliminating human expertise. Opteon's US division is one of the fastest growing evaluation firms nationally and consists of more than 400 employees. Opteon was founded in 2005 and is recognized as the largest independent real estate appraisal and services company in the Australia and New Zealand.
SOURCE Opteon
