The residential real estate appraisals market may not be one you think of when discussing innovation and early tech adoption. But maybe that’s why it could be the perfect segment to focus on. While the number real estate transactions has increased annually, the count of appraisers has declined. This is only part of the need for innovation and tech in appraisals.
Brian Zitin, Co-founder and CEO of Reggora, has been building a big business out of helping appraisal management companies and lenders better manage the entire process of appraisals. After spending time selling real estate as a college student, Brian and his co-founder Will Denslow realized a lot of the pain in transactions was at the point of appraisals. Brian and Will then literally followed appraisers around, spent time talking with them, and did everything they could to learn the business.
In this interview, Brian details how Reggora has carved their way into the appraisal industry, their pricing model, and areas of future growth potential. Reggora was founded in 2017.
Reggora has raised $43.9M from outside VC investors, including Spark Capital, 1984 Ventures, and American Family Ventures.
More about Reggora and Brian Zitin:
Reggora’s appraisal management platform for mortgage lenders and appraisal vendors delivers unprecedented efficiency and agility across the entire residential appraisal process. Through smart automations, configurable workflows, and LOS and POS integrations, Reggora unites systems and stakeholders to help lenders and appraisers increase capacity and deliver high quality appraisals. The platform combines advanced payment processing, algorithmic appraisal ordering, detailed and customized reporting, and finally, a modern user experience, helping to allocate orders efficiently, reduce human error, and prepare the industry for the future of valuation.
Brian Zitin is the co-founder and CEO of Reggora, a venture-backed startup that provides software to speed up the appraisal process for mortgage lenders and real estate appraisers. Prior to Reggora, Brian co-founded a real estate brokerage, which was based on a proprietary algorithm that helped efficiently target and sell investment properties in the Greater Boston area. This experience exposed Brian to the inefficiencies in the modern appraisal process, which led to the start of Reggora. Brian has been recognized as a Forbes 30 Under 30 as well as a HousingWire Tech Trendsetter.