Appraisal Systems

What Appraisal Systems does

Appraisal Systems Inc. is a privately held, New Jersey-based real estate valuation firm founded in 1981 by Ernest F. Del Guercio Sr. and operating under the doing-business-as name ASI. The firm provides mass appraisal, professional real estate valuation, and consulting services, with its primary business being periodic municipal revaluation and reassessment programs that bring all properties to 100% of true market value for tax equalization. Supporting service modules include residential and commercial/industrial appraisals, expert witness and litigation support for tax appeals at the County Board of Taxation and Tax Court levels, Chapter 101 compliance plan services, Chapter 91 income and expense analysis, CAMA computer maintenance, property photography, and added assessment work.

The firm's operations are centered on a Computer-Assisted Mass Appraisal (CAMA) system backed by an extensive proprietary database of New Jersey sale, lease, and expense comparables accumulated since 1981. The CAMA system is maintained monthly and is differentiated by its data scale and by integration with municipal workflows (deed reviews, comparable sales updates, subdivision valuation). Field inspectors visit properties for interior and exterior inspections, and the firm operates from five offices (Morristown, Glen Rock, Whippany, Newark, Cherry Hill) covering all or nearly all of New Jersey's 21 counties.

Revenue is generated through professional services contracts directly with New Jersey municipalities, approved by the County Boards of Taxation and the NJ Division of Taxation. The customer base is concentrated in municipal governments as the primary vertical, with secondary exposure to legal professionals (litigation support), financial institutions (FIRREA and FHLMC/FNMA/CRIIMI MAE compliant appraisal reports), and public agencies (condemnation and easement valuation). The firm employs approximately 51-100 people, including a team of 17 full-time state-certified real estate appraisers plus roughly 80 support staff, with management averaging thirty years of experience. Family leadership continuity is maintained through Rick Del Guercio as President.

Name

Appraisal Systems

Legal name

Appraisal Systems Inc.

Website

https://asinj.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Real Estate Appraisal Services

NAICS

Offices of Real Estate Appraisers (531320), Offices of Real Estate Appraisers (53132)

akta.pro primary industry

Real Estate Valuation & Appraisal Advisory (FSAEAJAI)

akta.pro secondary industries

Commercial Property Appraisal (BPAJAKAB), Industrial Property Appraisal (BPAJAKAC), Hospitality (Hotel/Resort) Appraisal (BPAJAKAF), Automated Valuation Models (AVM) & Desktop/Hybrid Appraisals (BPAJAKAO), Property Valuation: Appraisal Management (AMC) & Appraiser Networks (FSALALAI)

Keywords

• Mass appraisal services
• Property tax revaluation
• Real estate valuation
• Tax appeal expert witness
• Municipal assessment consulting

Headquarters

HQ city

Morristown

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Municipal Revaluation Services: Full revaluation programs for municipalities to bring all properties to 100% of true market value, contracted directly with municipalities and approved by the Division of Taxation
2. Reassessment Programs: Annual or periodic market review of all properties with adjustments to land formulas and building values, including income and expense analysis for commercial properties
3. Individual Appraisal Reports: Self-contained, Summary, and Restricted Use Appraisal Reports for residential, commercial, and special purpose properties meeting government, lender, and court requirements
4. Tax Appeal Support Services: Expert witness services for defense of valuations at County Board and Tax Court level, including negotiations, conferences, and trial appearance

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Appraisal Systems is a New Jersey-based real estate valuation firm that performs mass appraisal, periodic revaluation, and reassessment programs for municipalities, along with individual property appraisal reports for residential, commercial, and special-purpose properties. The firm also provides litigation support, expert witness services for tax appeals, and ongoing maintenance of Computer-Assisted Mass Appraisal (CAMA) systems for county and municipal clients.

Product overview

Appraisal Systems operates as a full-service real estate valuation firm offering mass appraisal, professional real estate appraisal, and consulting services. The company's service portfolio centers on two primary offerings: Revaluation Services (periodic comprehensive reassessments to bring all properties to 100% true market value) and Reassessment Services (annual maintenance programs with cyclical property inspections). Supporting these core programs are specialized modules including residential and commercial/industrial appraisals, litigation support and tax appeal defense, compliance plan administration under Chapter 101, CAMA computer maintenance, income and expense analysis, property photography, and added assessment services. The firm operates primarily in New Jersey municipalities, providing property inspections, market value analysis using sales comparison, cost, and income capitalization approaches, and representation at tax appeals. Services are delivered by certified appraisers and field inspectors supported by CAMA technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Revaluation Services

Quantifiable outcome

• Reduces costly tax appeals through accurate, market-based assessments
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered industry, core and supporting.

• The Appraisal InstituteindustryOthersProfessional appraisal association providing standards (USPAP) and continuing education. Referenced as a standard-setting body for appraisal practice.
• New Jersey County Boards of TaxationcoreOthersFormal regulatory partners who authorize and oversee revaluation programs. Contracts must be approved by county boards and NJ Division of Taxation.
• Micro SystemssupportingTechnology or IntegrationTechnology partner listed in related links, suggesting potential integration or service relationship for appraisal technology solutions.
• N.J. Division of TaxationcoreOthersPrimary regulatory authority that must approve all revaluation contracts and ensure compliance with state standards.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• CBRE Valuation & Advisory Services: Global commercial real estate services firm with a major valuation and advisory practice serving lenders, corporations, and government. Comparable as a broad incumbent in the commercial/industrial appraisal space, particularly for complex assignments like refineries, hotels, and corporate facilities that Appraisal Systems also services.
• Duff & Phelps (Kroll): Global valuation, advisory, and expert services firm serving financial institutions, legal clients, and corporations. Comparable as a broad incumbent providing litigation-support appraisals, complex property valuations, and expert witness services overlapping with Appraisal Systems' litigation support offerings.
• Cushman & Wakefield (Valuation & Advisory): Global real estate services firm with a national valuation practice serving lenders, investors, and corporate clients. Comparable as a broad incumbent in the commercial appraisal space, particularly for high-value and complex assignments that overlap with Appraisal Systems' commercial/industrial service line.
• Tyler Technologies (CLT / Cole Layer Trumble): Large public-sector software provider whose Tyler CLT (formerly Cole Layer Trumble) division provides mass appraisal/CAMA software and revaluation services to municipalities nationwide. A broader incumbent offering both the technology platform (tyler appraisal) and competing revaluation services that overlap with Appraisal Systems' offerings.

Others

• CoreLogic (now ICE Mortgage Technology): Large property data, analytics, and AVM provider serving lenders, investors, and government. Relevant comparable because its AVM and mass appraisal technology increasingly compete with traditional appraisal firms for both lender and municipal assessment work.

Direct peers

• Valbridge Property Advisors: National network of independent real estate appraisal firms providing commercial, residential, and specialty property valuations. Comparable through its valuation methodology, certified-appraiser-driven delivery, and institutional/lender client base, even though its geographic footprint is national rather than NJ-focused.
• J.L. Powers & Associates: New Jersey-based appraisal firm providing revaluation, reassessment, and tax appeal services to NJ municipalities. Closest direct geographic peer to Appraisal Systems, competing for the same municipal contracts in many of the same counties.
• R.E. Coleman & Associates: Real estate appraisal and consulting firm providing revaluation, reassessment, and tax appeal services to municipalities. A direct peer in the mass appraisal and municipal revaluation space, particularly active in the Mid-Atlantic/Northeast US market.
• Vision Government Solutions: Massachusetts-based firm specializing in municipal revaluations, mass appraisal, and CAMA software/services for municipalities. Direct competitor to Appraisal Systems in the New England / Northeast municipal appraisal market with similar technology-enabled mass appraisal model.

Emerging players

• Aumentum Technologies (now part of Tyler Technologies): CAMA and mass appraisal software provider acquired by Tyler Technologies; increasingly provides both software and managed revaluation services. Emerging competitor that combines AVM-enabled technology with service delivery in the same municipal appraisal market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Appraisal Systems