Twenty years ago, Claudia Stallings’ parents decided to make the move to Knoxville, Tennessee, and she found herself helping them with their search and discovering a passion for real estate.
Stallings became an agent in 2004, was a principal broker for a large branch in 2010, and became a partner and COO of Wallace Real Estate with brothers Jim and George Wallace in 2019. The company is the No. 1 ranked independent residential and commercial real estate firm in East Tennessee.
What are you seeing in the East Tennessee market?
Claudia Stallings: The area became a popular destination the past few years and remains attractive for a lot of reasons. The seasons, the lakes, the mountains, the fact that Tennessee doesn’t have an income tax and the desire for a little more elbow room. We are seeing more listings entering the market lately, but they are being quickly claimed by buyers.
How do you stay informed about current market trends?
CS: I read as much as I can, I talk regularly with colleagues in other markets and as a part of the Leading Real Estate Companies of the World® network, I have access to economic, legal and market updates. We also have a company leadership council consisting of agents on the front lines who bring ideas, share their experiences, make recommendations and express their concerns so that we can take meaningful action.
What new technologies or innovations have you adopted?
CS: As an independent brokerage, we are able to choose the technology that is best suited to our agents and to our specific market. We have a lot of marketing automation and staff support for both our agents and our listings. Our MLS statistics show that, compared to market averages, homes listed with Wallace Real Estate are more likely to sell and in less time.
What customer service strategies do you employ?
CS: We are responsible for serving two clients: our agents and our buying and selling customers. Our managers and staff are involved in our learning programs, which empowers our agents to be among the most informed and supported sales professionals in our market. That translates into satisfied buyers and sellers who experience smoother transactions, better clarity throughout the process and solid guidance through what can be a complicated process.
What are the biggest challenges and opportunities facing the real estate market today?
CS: The media has sensationalized the news. Depending on which headlines you read, sales prices are either skyrocketing out of control or crashing. The media says that interest rates are at market highs with no relief in sight, and yet, there is little data being shared to put today’s rates into perspective. Real estate professionals and the organizations that support them have been demonized, when career professionals and their support structures bring knowledge, guidance and clarity to their buyers and sellers.
How do you stay engaged with the communities where you operate?
CS: Our leaders are members of various nonprofit boards in our area, and we are proud to be a recognized partner of our local Chamber of Commerce. We recently celebrated Wallace Week, where our agents and staff were invited to learn more about their community, how it was formed and the legacy of the area.
