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Opteon increases market share in the US with new acquisition

Fuseworks Media
Fuseworks Media

Opteon, a leading international provider of valuation, advisory, and property services, has announced its acquisition of New York-based valuation management company and staff valuation firm, Northeastern Appraisal Associates Residential (NEA). This partnership expands Opteon’s presence in the United States, strengthening its service offerings in the region and enabling faster report delivery times in the fourth largest US real estate market.

Northeastern Appraisal Associates Residential has been delivering high-quality valuation reports to the New York community since its inception in 1972. NEA has top-tier staff and panel appraisers throughout the New York region, servicing some of the nation's top mortgage lenders and originators. 

The partnership will also provide great new benefits for current NEA clients, such as extended business hours, a multi-level 200-point quality control process, and coverage in all 50 states with 13,000+ panel and 250+ staff valuers.

"We have always focused on providing high-quality valuations to our clients. With the market rapidly changing in recent years, we must remain at the forefront of change to continue providing such excellent service. Partnering with Opteon guarantees we are able to provide our clients an industry-leading experience," said Salvatore Vacanti, Vice President of Operations for NEA. 

"Northeastern Appraisal Associates Residential has always strived to innovate and lead within the industry. We do so by keeping the valuer at the centre of everything we do. The Opteon vision of empowering valuers through technology aligns with our goals, and we’re excited to bring this partnership to our clients," added Robert Vacanti, President of NEA. 

Founded in Australia in 2005, Opteon has innovative technology that delivers market-leading turn times and revision rates, helping Opteon’s clients make quicker lending decisions. By partnering with world-class valuation firms like NEA, Opteon aims to bring this technology to the United States. Similarly, the extensive industry knowledge of Opteon’s US team will provide the Australian and New Zealand businesses with a richer understanding of the global valuation landscape and enable additional career opportunities for our people. 

"Our technology works hand-in-hand with valuers. By equipping exceptional valuers with our technology, Opteon streamlines the valuation process. Northeastern Appraisal Associates Residential is comprised of an incredible team that will be able to implement our technology across the Northeastern US," said Chris Knight, Group CEO of Opteon. 

Opteon has experienced substantial growth since the company’s expansion into the US in 2019 and is one of the fastest-growing valuation firms in the country. This is the fourth acquisition Opteon has made in the last 12 months. Through these strategic acquisitions, Opteon has built a robust national valuation model, allowing Opteon to utilise innovative technology to deliver drastically shorter report delivery times across all regions. Together, Opteon’s family of brands is bringing innovation and an elevated level of service to the industry.

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