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Meet Lucas Rotter

Today we’d like to introduce you to Lucas Rotter.

Hi Lucas, we’d love for you to start by introducing yourself.
I began my career in the commercial real estate appraisal industry in 2007. I worked for a national brokerage firm, Colliers International in Portland, Oregon, where I spent several years appraising retail centers, self-storage facilities, hotels and other properties in the market. While at Colliers, I developed a passion for incorporating technology into our processes and building out proprietary tech solutions that helped our team execute appraisals significantly faster – saving time and reducing the need for cumbersome, manual processes.

It quickly became evident that this technology was a success and made my team one of the most productive appraisal teams in the company. When executive leadership realized this, they pulled me out of my appraisal role and had me build out the tech further to bring efficiency to the entire national appraisal group.

After eight years with Colliers, I realized the industry’s need for an end-to-end appraisal solution that would improve productivity and streamline a very time-consuming and manual process – thereby increasing output, encouraging collaboration and freeing up valuable time for executives to grow their businesses.

In 2016, I took the leap as an entrepreneur and co-founded Valcre along with our Chief Technology Officer Kris Owens and appraisal industry experts Grant Norling, MAI and Joe Creech, MAI. Valcre is the commercial real estate industry’s premier end-to-end appraisal software solution, empowering appraisers with a more organized, efficient and intelligent path to produce and present their work. Our solutions provide users with increased organization and mitigates many of the inherent risks and inefficiencies created by manual data entry, data collection and the many traditional tasks associated with the appraisal process.

We all face challenges, but looking back would you describe it as a relatively smooth road?
Starting a business is never a smooth road, especially when your target audience consists of an older demographic that is used to doing things a certain way and is somewhat resistant to adopting new technologies. Most appraisers within the commercial real estate industry are veterans who have been in the industry for decades and have a hard time adjusting to new platforms and utilizing new tools.

We’re overcoming this challenge daily by highlighting Valcre’s accessibility and ease-of-use. We created Valcre to help streamline the appraisal process, not to make it more complicated. Our platform is designed to make everything more seamless: from property research and data entry to developing custom reports for client-specific valuation assessments. When customers demo our platform, that lightbulb forms above their heads and they understand the inherent value of our solutions. The old saying “time is money” is consequential in the appraisal industry. Our customers are typically able to take on one to two additional appraisals each month because of the time they save using our software. Because of this, Valcre translates directly into greater income potential.

Another obstacle we’ve faced is opting to grow our business organically without a flood of funding from venture capital or private equity markets. Choosing to bootstrap our business has presented its challenges. There is a perception in the tech space that companies that haven’t raised an obscene amount of capital have yet to gain traction or market interest. This could not be further from the truth for Valcre. We have been very intentional about not seeking out investment partners to flood our business with capital prematurely. Instead, we’ve worked to develop and perfect a product that truly addresses our customers’ tangible needs and brings them value, thereby making them more profitable.

There are many companies within the real estate technology landscape that, similar to the broad tech space, are flush with venture capital and boast a sizable valuation despite being far from profitable. We have opted to forgo that strategy and are waiting to align ourselves with investment partners until we find the right partner who understands our business and can help us grow our brand while establishing more credibility in the market.

Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
I am the co-founder and Chief Executive Officer of Valcre, a software company that equips appraisers with an intelligent, one-stop platform that streamlines the appraisal process, centralizes data on a range of commercial real estate property types and allows users to generate engaging, purpose-built reports to present to clients.

As the head of a company overseeing a team of software engineers, support and sales professionals, I think what sets me apart most is my leadership style. I have a very altruistic personality and am not interested in racing to the top and leaving my team members in the dust. It is important to me to bring as many people to the top with me as possible and I want it to be a journey we make together and can all benefit from. That is the culture we’ve created here at Valcre. Everyone is working toward the same goal – to see the business flourish so we all can prosper. All of that said, I’m not a pushover by any means. I give 100 percent effort on the job and I expect the same work ethic. I have a no-nonsense personality – I don’t like my time being wasted and I value others’ time because it is equally as precious.

The crisis has affected us all in different ways. How has it affected you and any important lessons or epiphanies you can share with us?
While COVID-19 caused a lot of disruption in the commercial real estate market, commercial appraisers have actually experienced an uptick in business as a result. Last year there was a slight pause in appraisal work at the beginning of the pandemic, but once tenants began missing rents and landlords started missing mortgage payments, many properties were moved to special servicing. This created a great deal of appraisal work from that segment of the market. For most of our clients, this year started off busier than ever. January is typically a slow month, but I know that many of our clients had more work than they could handle. We expect this to play out for much of the year ahead.

Contact Info:

Based in San Diego, Valcre is the commercial real estate industry’s premier end-to-end appraisal software solution, empowering users with a more organized, efficient and intelligent path to produce and present their work

Lucas Rotter is the co-founder and CEO of Valcre. Valcre is the commercial real estate industry’s premier end-to-end appraisal software solution, empowering users with a more organized, efficient and intelligent path to produce and present their work.

Valcre’s mobile app allows users to complete inspections from any device, anywhere in the country. The platform’s cloud-based system allows entire teams to work collaboratively and gives firms an instant and lasting competitive edge.

Image Credits
Photos by Valcre

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