Zaio Corporation, a technology and database company, has acquired Appraisal.com, a firm that provides collateral valuation management technology to more than 100 lenders and 7,500 appraisers across the country. The firm's appraisal network includes over 9,000 working appraisers.
Zaio shook up the industry when it entered the space, promising to create a database of real estate valuations that would allow it to serve lenders more quickly than traditional appraisers. Since then, the company has acquired Jim Kirchmeyer's appraisal shop and AVM business and now has acquired the Appraisal.com network and Day One form-filling software. Today, the company claims to have a database of 140 million properties.
According to a press release, Zaio will redirect orders placed on Appraisal.com to its own network of appraisers. Any orders placed within the next 60 days will receive a 60% discount. It appears that the company will also attempt to convert Day One users to its Zaio Zones software with special offers.
Kirchmeyer, who now serves as Chief Marketing Officer is quoted in the release as telling Appraisal.com lenders and appraisers, “Simply continue to use the Appraisal.com and Day One technology as you have in the past, with the full confidence that Zaio, and its two national service centers in Buffalo NY and Tempe AZ, are here to ensure you have a positive experience.”