Avance

What Avance does

Avance (legal name Avance Inspecciones, S.A.) is a Panama-based professional services firm founded in 2003 that delivers independent property valuations, construction progress inspections, and construction project management across the Republic of Panama. The company's core offerings are Avalúos (appraisals performed under International Valuation Standards and accepted by all financial entities in Panama), Inspección de Avance de Obras (third-party construction progress certification used by banks to validate disbursements), and Gestión de Proyectos de Construcción (integral schedule, cost, and quality control using Procore as the central platform). Supporting revenue streams include PROPCheck, a tiered property handover inspection sub-brand launched in 2021 (Básico/Plus/Premium), Trámites Inmobiliarios (administrative services for ANATI, DGI, and Patrimonio Familiar Tributario filings), and Consultorías (market studies, feasibility analyses, and expert technical reports).

The company operates a digital service stack that includes a proprietary mobile inspection application that synchronizes field data in real time, a proprietary online property tax calculator built around Panama's Law 66 of October 17, 2017, and the Procore construction management platform. GTM motion is sales-led but digitally enabled: customers submit requests through online quotation forms on Avance's website, supported by direct phone and WhatsApp contact, with standard appraisal turnaround of 3–5 business days. All pricing is quote-based and not publicly disclosed, except PROPCheck's three-tier structure. Distribution is exclusively domestic; Avance maintains a headquarters in Panama City (Calle 67 Este, PH Blue Business Center) plus a regional office in Chitré for the Central Provinces, Azuero, and Chiriquí regions.

Avance is led by founder and General Manager Ramsés Córdoba, who holds the MAI designation from the U.S.-based Appraisal Institute. The leadership team comprises four senior engineers (Córdoba, Doris Robles, Rui Cedeño, Librada Saavedra) with 10–25+ years of relevant experience. Headcount is reported at 51–100 employees. The company is privately held with no external investors identified, no subsidiaries, no disclosed funding rounds, and no M&A activity. Customer relationships are concentrated in two primary segments — financial institutions (more than ten named banks including Banco General, Scotiabank, Banistmo, BAC Credomatic, Caja de Ahorros, Global Bank, Banco Nacional de Panamá, Canal Bank, Banesco, La Hipotecaria, and Banvivienda) and real estate developers (Pacific Developers, Green Valley, Urbanizadora Costa Verde, Pradera Inmobiliaria) — with a growing consumer-facing segment served by PROPCheck.

Name

Avance

Legal name

Avance Inspecciones, S.A.

Website

https://avance.com.pa

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Avance is a Panama-based professional services firm founded in 2003 that certifies construction progress and provides bank-accepted property valuations, project management, and property handover inspections for financial institutions, real estate developers, and individual property owners.

Ownership category

akta.pro rank

Product category

Real Estate Appraisal & Construction Inspection Services

NAICS

Offices of Real Estate Appraisers (531320)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Valuation & Appraisal Advisory (FSAEAJAI)

akta.pro secondary industries

Construction Progress & Draw Inspection Valuation (BPAJAKAM), Machinery & Equipment / FF&E Valuation (for Real Estate Context) (BPAJAKAH)

Keywords

• Property appraisal services
• Construction inspection
• Construction project management
• Real estate valuation
• Building inspection services

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Appraisal Services (Avalúos): Technical property valuation services for various asset types including land, machinery/equipment, real estate, businesses, and agricultural properties. Delivered in 3-5 business days with bank-accepted reports.
2. Construction Progress Inspection (Inspección de Avance de Obras): Independent third-party inspection and certification of construction progress for financial institutions and developers, validating that reported progress is consistent with physical advancement for disbursement purposes.
3. Construction Project Management (Gerencia de Proyectos): Integral management and control of construction projects including scheduling, cost control, and quality inspection, integrating project control services to ensure project outcomes.
4. PROPCheck Property Inspection Services: Property inspection service for property reception/handover, with tiered plans (Básico, Plus, Premium) covering visual finishes inspection, electrical installation testing, and water pressure testing, plus optional add-on services.
5. Real Estate Administrative Services (Trámites Inmobiliarios): Handling of property administrative procedures including ANATI procedures, DGI property tax filings, Patrimonio Familiar Tributario applications, and document preparation and inscription services.
6. Consulting Services: Advisory services including market studies, project feasibility analysis, and expert technical reports for decision-making and dispute resolution in real estate and construction.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Avance provides independent, bank-accepted real estate appraisal, construction progress inspection, and construction project management services in Panama, under International Valuation Standards. Its portfolio also includes PROPCheck (tiered property handover inspection for buyers/owners), real estate administrative procedures (ANATI, DGI, Patrimonio Familiar Tributario), and consulting (feasibility studies, market studies, expert technical reports). Pricing is quote-based for most services, with PROPCheck sold in Basic, Plus, and Premium tiers.

Product overview

Avance is a Panama-based professional services company founded in 2003, offering a portfolio of real estate and construction-related services. The core offerings include Avalúos (real estate valuations), Inspección de Avance de Obras (construction progress inspections), and Gestión de Proyectos de Construcción (construction project management). The company also operates a product sub-brand called PROPCheck for property reception inspections available in three tiers (Básico, Plus, Premium). Supporting services include Trámites Inmobiliarios (property administrative procedures) and Consultorías (market studies and feasibility analysis). A digital tool component is provided through the Calculadora de Impuesto de Inmueble, a property tax calculator based on cadastral values.

Differentiator

Problem solved

Functional benefit

Brands

• PROPCheck: Property inspection service for reception of residential and commercial properties, identifying defects before delivery.

Products and services

• Avalúos (Property Appraisals) Technical property valuation services performed under International Valuation Standards for land, equipment/machinery, residential, commercial, industrial, and agricultural properties, as well as businesses. Delivered in 3–5 business days with bank-accepted reports used to support financial, legal, insurance, and commercial decisions.
• Inspección de Avance de Obras (Construction Progress Inspection) Independent third-party inspection and certification of construction progress for civil works, buildings, and urbanizations. Provides financial and physical verification reports adapted to project requirements and financial entity conditions, used by banks to validate disbursement milestones and by developers for third-party progress reporting.
• Gestión de Proyectos de Construcción (Construction Project Management) Integral management and control of construction projects covering scheduling, cost control, quality inspection, and project control, supported by specialized platforms (including Procore) for documentation, scheduling, reporting, and progress tracking.
• PROPCheck (Property Reception Inspection) Property inspection service for the reception of houses, apartments, offices, and commercial spaces, identifying defects before delivery. Offered in three plans — Básico (visual finishes, plumbing, electrical), Plus (adds electrical installation testing, the most requested plan), and Premium (adds water pressure testing) — with optional add-ons such as site measurements vs. plans, gas pressure testing, and central air conditioning inspection.
• Trámites Inmobiliarios (Real Estate Administrative Services) Handling of property administrative procedures for individuals and companies, including property tax (DGI) filings, ANATI procedures, Patrimonio Familiar Tributario applications, and document preparation and inscription services at the Registro Público.
• Consultorías (Consulting Services) Advisory services for the real estate and construction sectors, including market studies, project feasibility analysis, and expert technical reports used for decision-making and dispute resolution.

Quantifiable outcome

• 50,000+ appraisals completed under bank-accepted technical standards
• +3 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Instituto de Valuaciones y Peritajes de Panamá (IVAPPAN)coreStrategic or Co-development Partner · 15 May 2020Avance participated in the development of the Virtual Inspection Protocol for property appraisals during COVID-19, jointly with IVAPPAN and the Comité de Empresas Valuadoras de ACOBIR. The protocol was formally presented to the Superintendencia de Bancos and Asociación Bancaria de Panamá and enabled virtual inspections to continue during the pandemic.
• ACOBIR (Asociación de Corredores y Promotores Inmobiliarios de Panamá)coreStrategic or Co-development Partner · 15 May 2020Through its Comité de Empresas Valuadoras, ACOBIR collaborated with IVAPPAN and member firms including Avance to develop the Virtual Inspection Protocol for appraisals during the COVID-19 pandemic. The protocol was shared with banking regulators and gained acceptance.
• Appraisal Institute (USA)coreStrategic or Co-development Partner · 15 April 2017Avance has been a member of the Appraisal Institute since 2008 through its President Ramsés Córdoba, who holds the MAI designation. Avance was instrumental in facilitating a cooperation agreement between the Appraisal Institute and ACOBIR to bring world-class valuation training to Panama and the region.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Cushman & Wakefield: Global real estate services firm with valuation, project management and consulting practices serving financial institutions and corporate occupiers. Overlaps with Avance on bank-accepted valuation and project advisory, but as a multi-service global incumbent.
• AECOM: Global infrastructure consulting firm with construction management, project controls and program management services. Comparable to Avance on the construction project management and inspection line, though operating as a large engineering and program management incumbent.
• CBRE: World's largest commercial real estate services firm offering appraisal, valuation, project management and consulting. Comparable to Avance on bank-facing valuation and construction oversight, but as a global incumbent with broader portfolio.
• JLL (Jones Lang LaSalle): Global real estate investment and advisory firm with valuation, project management and capital markets services. Comparable to Avance in the valuation and construction advisory space, but operating across many geographies and service lines rather than as a Panama specialist.
• Colliers International: Global professional services firm offering valuation and advisory, capital markets, and project management across real estate. Comparable to Avance in the valuation and construction project management lines, though it operates as a broad incumbent rather than a Panama-focused specialist.
• WSP: Global professional services consultancy with property and buildings, project management and construction inspection practices. Comparable to Avance on construction oversight and project management for real estate, but as a broad engineering and program management firm.
• Arcadis: Global design, engineering and project management consultancy with cost and commercial management for real estate projects. Comparable to Avance on construction project controls and advisory, but as a large international incumbent serving asset owners and lenders.
• Newmark Group: Global commercial real estate advisory firm providing valuation, capital markets and consulting. Comparable to Avance on bank-driven valuation mandates, but as a multi-service global player with a much broader service catalog.
• Knight Frank: Global real estate consultancy with valuation, advisory and project management services across residential and commercial assets. Comparable to Avance on appraisal and project advisory, but operating as a broad international brand rather than a regional specialist.

Direct peers

• Tinsa: Spanish-headquartered real estate valuation and appraisal firm with operations across Latin America. Directly comparable to Avance as a specialist appraisal provider serving banks and developers with valuation and advisory services in the region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/avancepma
• LinkedInlinkedin.com/company/avance-panama-
• Instagraminstagram.com/avancepma
• TikToktiktok.com/@avancepma
• Xx.com/avancepanama

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Avance