“Every number tells a story, but only if you know how to read it,” William Herron shared, as we delved into our conversation.
His words, though simple, resonate deeply in an industry where precision is paramount, and the stakes are often measured in millions. In a market where accurate appraisals are the cornerstone of financial transactions, one question emerges—who do the most successful companies turn to when the value of their assets is on the line?
This is where William R. Herron Jr. steps in, a mechanical engineer, President, and CEO of Panamericana de Avaluos, S.A. and Panama’s leading expert in real estate and industrial plant appraisals. With over 45 years of experience, his work has shaped the very foundation of Panama’s valuation industry. His company has been the go-to partner for a wide range of clients, from banks, insurance to local and multinational corporations, providing accurate, transparent, and trustworthy appraisals.
Under William’s leadership, Panamericana de Avaluos has become a market leader in Panama’s fast-paced real estate sector. In a country where the real estate market is valued at over $2 billion and continues to expand, his expertise is indispensable. William received the 2022 “Ing. Jose Berguido Martinez Hauradou” Award for his leadership, showcasing that his influence extends beyond the office. As an educator and industry mentor, he’s been a key figure in advancing appraisal standards across the region.
William’s journey is not just about numbers and figures—it’s about trust, commitment, and the drive to set new industry standards. Today, we take you behind the scenes of this trailblazer’s career, offering an inside look at the vision, leadership, and values that have made him a true icon in the world of valuations. Join us as we explore how William Herron continues to shape the future of valuations in Panama.
A Journey from Consultant to Company President
William’s career began in a very different setting than where it stands today. With a degree in mechanical engineering, he initially worked as general manager for the Latin-American region for a multinational construction equipment manufacturer while on occasion serving insurance companies and banks as an independent consultant. His expertise in providing surveys and expert opinions on construction equipment allowed him to travel across Latin America, building a reputation as a trusted consultant. However, constant travel and a desire to spend more time with his family eventually led him to a pivotal decision—starting his own business.
In 1982, William founded Panamericana de Avaluos, initially focusing on serving insurance companies and banks, primarily offering machinery and equipment valuations. But, it wasn’t long before he recognized that the real potential for growth lay in the real estate market. The company gradually expanded into real estate appraisals, offering expertise in everything from machinery and vessels to fixed assets. From humble beginnings with just William and a part-time secretary, the company has now established itself as a key player in the industry.
When asked about the biggest challenge in leading the company to its current success, William reflects, “I have been truly blessed. It’s certainly been a journey of persistence and passion. The market is always evolving, and staying ahead of trends while maintaining the integrity of our work has been the biggest challenge. But it’s also been the most rewarding part of the journey.”
Redefining Appraisal Standards in Panama
In the early 1980s, what started as a small initiative with a focus on providing objective, technical appraisals quickly grew into a cornerstone of the Panamanian business landscape. The company’s services cater to a wide range of needs, from securing bank loans to determining replacement values for insurance policies and facilitating asset transfers. Over the years, Panamericana de Avaluos has built a solid reputation for its unwavering commitment to accuracy, reliability, and professionalism.
Today, with more than four decades of experience, the company stands as a trusted leader in the appraisal sector, serving both public and private entities. Its clients range from government agencies and banks to insurance companies and auditing firms, in Panama and on an international scale.
- Mission: Panamericana de Avaluos is dedicated to delivering high-quality, detailed, and reliable appraisal services. The company ensures that each report provides actionable insights, empowering clients to make informed decisions with confidence.
- Vision: The company aspires to maintain its leadership position in Panama’s valuation industry while expanding its footprint across the region. By leveraging the latest technologies and adhering to rigorous standards, Panamericana de Avaluos aims to continue setting benchmarks for quality and accuracy.
At the helm of this legacy is William, as his leadership has been instrumental in shaping the company’s growth and reputation. Known for his technical expertise and dedication, William has played a pivotal role in advancing Panama’s appraisal industry.
As Panamericana de Avaluos looks to the future, it remains committed to its founding principles of integrity, precision, and innovation—values that have earned it a place at the forefront of Panama’s valuation industry.
A Commitment to Excellence
For William, leadership is not just about managing a team—it’s about setting a standard and leading by example. His leadership philosophy revolves around one central tenet: providing the level of service that he would expect as a client. From the outset, he recognized a gap in the market for high-quality, detailed reports, and he made it a point to address that gap.
“We wanted to ensure that every report we produced went beyond the minimum requirements, even if that meant offering more detail than some might consider necessary,” he explains. “Our goal has always been to provide comprehensive, accurate appraisals that stand out in terms of quality.”
This philosophy of excellence and attention to detail has paid off for Panamericana de Avaluos, which has become the go-to appraisal firm in Panama. The company is proud to be the only firm in the country whose reports are accepted by all local and international banks, insurance companies, and auditing firms. The ability to maintain such high standards in a competitive market speaks to William’s leadership and the company’s commitment to providing unparalleled service to its clients.
Balancing Innovation and Stability
In the business world, innovation is essential, but so is maintaining stability and profitability. For William, this delicate balance is achieved through a commitment to continuous improvement while never compromising on quality. “We have a fantastic team that has been with us for many years, and we’re always reviewing our practices to ensure we’re staying ahead of the curve,” he shares.
Despite the company’s success, he remains mindful of the importance of managing risk. While Panamericana de Avaluos is constantly looking for ways to innovate, William Herron emphasizes that he will never sacrifice quality for lower costs or speed. “If a project doesn’t meet our high standards, we won’t take it on. Our reputation is too important, and we are not willing to compromise it.”
This approach has been critical in helping the company weather economic fluctuations, and it has also ensured that it remains a trusted name in the industry.
Fostering Talent and Mentorship
An integral part of Panamericana de Avaluos’ success has been its ability to attract, develop, and retain top talent. William Herron and his team are very selective in their hiring practices, they conduct thorough background checks, interviews, and assessments of potential employees’ qualifications and alignment with the company’s core values. This rigorous approach to hiring ensures that only the most qualified professionals join their team.
“Even though all our inspectors are professional with an Engineering or Architectural degree some with Master degrees in Project Management and Construction, We make sure that everyone we hire fits the values of our company. We’re not just looking for technical skills; we want people who understand the importance of integrity and delivering quality work,” William Herron adds.
New employees undergo an extensive training period, typically ranging from three to six months, to ensure they are fully equipped to handle the complex work the company undertakes.
This investment in professional development is an ongoing priority for William, who believes in the power of mentorship.
“Mentorship plays a huge role in our company. We provide our employees with the guidance and resources they need to succeed and grow. Our team members know that we are committed to their development, and in return, they are motivated to give their best.”
A Diverse Range of Services
Panamericana de Avaluos is known for its extensive portfolio of services, which include real estate appraisals, machinery and Industrial machinery appraisals, and valuations for construction equipment, production facilities, and vessels. Approximately 75% of the company’s work is dedicated to real estate and machinery appraisals, while the remaining 25% focuses on construction inspections. The company’s services extend to various sectors, including banking, insurance, and auditing, where accuracy and reliability are paramount.
Panamericana de Avaluos is often called upon to inspect construction projects financed by banks, ensuring that the contractors follow the specs and industry standards while verifying that the funds provided are being utilized as intended and as budget. These services include the provision of monthly progress reports, carefully monitoring the construction process and communicating openly with all parties involved. This dedication to transparency and precision has earned the trust of clients and solidified the company’s reputation in the market.
| Key Services Offered by Panamericana de Avaluos | |
| Technical and Economic Appraisals: | Accurate valuation of real estate, machinery, and industrial assets for various purposes, including financing and asset transfers. |
| Inspection Services: | Detailed assessments to ensure compliance with industry standards. |
| Expert Opinions: | Specialized evaluations tailored to meet unique client requirements. |
“We don’t just produce reports; we provide solutions. Our goal is to ensure that everything is in line with industry standards, whether we’re appraising real estate or monitoring a construction project,” William Herron states.
Embracing Technology for Efficiency
Technology has significantly enhanced the efficiency and accuracy of Panamericana de Avaluos’ services. William credits much of the company’s success during the pandemic to its proactive approach to technology adoption. Under the leadership of the general manager and assistant manager, the company integrated several cutting-edge tools for geolocation, including, among others, drones to streamline operations and provide more precise assessments.
“Technology has helped us enhance our service delivery, especially when it comes to inspections and evaluations,” William explains. “The use of drones, for instance, allows us to conduct more accurate assessments, especially for larger or harder-to-reach properties. The pandemic forced us to adopt new technology faster, and it turned out to be a blessing in disguise. We not only survived but thrived during that time.”
The company’s ability to adapt and embrace technology has further cemented its position as a leader in the industry, allowing it to meet the ever-increasing demands for efficiency and accuracy.
The Secret to Success
When asked about the key to Panamericana de Avaluos’ long-standing success, William is quick to credit the company’s commitment to its core values, which includes professionals that are an integral part of the organization “Our success is a result of the hard work, dedication, and loyalty of our team,” he says. “We treat our employees like family, and in turn, they work with passion and commitment. We’ve built a reputation for reliability, and that reputation has been a huge driver of our success.”
Over the years, Panamericana de Avaluos has become a benchmark for many competitors, who admire its business approach and focus on quality. For William Herron, this recognition is a testament to the collective efforts of everyone at the company.
“We’ve always led by example. It’s not just about being successful; it’s about doing things the right way. And that philosophy has guided us throughout our journey, which includes assisting and providing for those less fortunate with donations through several Non-Profit Organizations working with children”, he adds.
Awards and Recognition: A Testament to Leadership
William Herron’s exceptional leadership and contributions to the appraisal industry have not gone unnoticed. In 2022, he was honoured by Panama’s Valuation Institute with the “Ing. Jose Berguido Martinez Hauradou” Award for his significant impact on the appraisal industry. Additionally, he is a certified appraiser and a member of various prestigious organizations, including the International Real Estate Institute, the National Association of Real Estate Appraisers, and the Panama Construction Chamber (CAPAC). His influence extends beyond the business world; William Herron is also an esteemed speaker, frequently invited to lecture on appraisal techniques for organizations such as the Banking Association and government agencies, including the General Comptroller Office and the Ministry of Finance.
Looking Ahead, he remains focused on continuing to innovate and lead by example. With his steady hand at the helm, Panamericana de Avaluos is poised for continued success, and William Herron’s vision will undoubtedly shape the future of the real estate appraisal industry.
As the most visionary leader to watch in real estate in 2025, William’s commitment to quality, integrity, and excellence sets the standard for others in the industry to follow. His legacy of leadership, mentorship, and innovation will undoubtedly continue to influence the real estate and appraisal sectors for years to come.
5 Key Takeaways from William Herron’s Journey and Cover Story
1. Pioneering Panama’s Valuation Industry
William Herron has been instrumental in shaping Panama’s appraisal standards, establishing Panamericana de Avaluos as the industry leader in valuations. His dedication to precision and integrity has not only earned the company the trust of local and international clients but also set a benchmark for competitors.
2. Evolution Through Strategic Vision
Starting as a consultant with expertise in machinery and equipment appraisals, William expanded the company’s services to include real estate valuations. This strategic pivot enabled Panamericana de Avaluos to tap into the booming real estate market, transforming it into a trusted name in the $2 billion Panamanian real estate sector.
3. Commitment to Quality and Transparency
William Herron emphasizes delivering appraisals that exceed minimum standards, ensuring accuracy and reliability in every report. His refusal to compromise on quality, even under market pressure, has built a reputation for producing actionable insights that empower client decision-making.
4. Innovation and Technological Adaptation
Under William’s leadership, the company embraced advanced tools like drones and AutoCAD to enhance accuracy and efficiency. This proactive approach during the pandemic not only ensured business continuity but also positioned Panamericana de Avaluos as a tech-savvy leader in the valuation industry.
5. Mentorship and Team Development
A key factor in the company’s success is its focus on fostering talent and aligning employees with its core values of integrity and precision. William Herron’s mentorship initiatives and rigorous hiring practices have cultivated a highly skilled and committed team, which he credits as the backbone of the company’s sustained success.
