By Natalie Terchek
Inc. Magazine ranked the Chicago-based US Appraisal Group Number 319 on its annual Inc. 500, an exclusive ranking of the nation’s fastest-growing private companies. It was also ranked the 11th fastest growing real estate company in the country, and the 13th fastest growing company in the Chicago Metro area.
US Appraisal Group Increases 1,177% in the Past Three Years
The Inc. 500 list is responsible for creating exposure of famous companies like Microsoft, Zappos, Jamba Juice, Clif Bar, Oracle and more. And with a three-year growth at 1,177%, it makes sense that US Appraisal Group would be compared to those companies.
President and CEO, Dione Spiteri, says this huge growth is due to the large amount of market potential, allowing US Appraisal Group to sign on many new clients and add new staff members.
“There has been an enormous amount of foreclosures in the Chicago area, so the demand for appraisals has been large,” she said. She adds that they’ve been growing 300 to 400 percent per year since 2007, and they are anticipating the same growth next year.
Not only is Spiteri confident about her company’s growth, she is also confident with the quality of work they produce.
“Expectations need to be shifted,” she said. “Appraisals have been altered to be more accurate than they ever have been before.”
One of the qualities that make US Appraisals unique is that all the employees are appraisers. This means they have technology and information to educate the market area in a way that agents can’t.
How to Make The Inc. 500
To make the cut for the Inc. 500, companies had to achieve a minimum of 770% in sales growth. A press release reports that the Inc. 500′s total revenue is $15.7 billion with a median three-year growth of 1,431%. The companies listed this year employ more than 48,000 people and generated over 40,000 jobs in the past three years.
“Now, more than ever, we depend on Inc. 500 companies to spur innovation, provide jobs, and drive the economy forward,” Inc. Magazine editor, Eric Schurenberg, said. “Growth companies, not large corporations, are where the action is.”
And what makes US Appraisal a growth company? Spiteri says it’s their environment.
“Small businesses are creating the most jobs,” she said. “They create a good environment where people can feel appreciated. That’s what we do at US Appraisal.”