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Wallace re-launches as largest independent real estate firm in East Tennessee

March 14, 2023

Knoxville firm announces departure from Coldwell Banker and plans for growth

Coldwell Banker Wallace has become Wallace and is now the largest independent real estate firm headquartered in East Tennessee with nearly 500 agents.

The four partners and co-owners, brothers George Wallace and Jim Wallace, Claudia Stallings and Andrew McGranaghan, made the move to independence to provide more flexibility, support and opportunities for agents in a real estate market that has undergone rapid growth and changes in the Southeast.

Wallace Real Estate partners George Wallace, Claudia Stallings, Andrew McGranaghan and Jim Wallace announced the group’s re-launch as an independent firm.

“Our relationship with Coldwell Banker has been excellent, and we are grateful to them for many years of partnership,” CEO George Wallace said. “We made this change to be able to nimbly provide the best support and tools to our agents and service to our clients, while maintaining our warm and personable culture. A company with nearly 90 years of success in any industry must have a strong commitment to innovation and the confidence to make big decisions.”

Wallace has six offices and provides services in residential real estate, commercial real estate, rentals and property management. The firm, founded in 1936, is on a path to grow, evolve and adapt to a dynamic real estate market in the region.

While Wallace is locally based, the company also will now have a global presence by joining Leading Real Estate Companies of the World (Leading RE), which has 150,000 independent agents from 550 of the top real estate firms around the world and 4,700 offices in 70 countries.

“Leading RE will provide the valuable assets, introductions and connections our agents need while placing us within a supportive global ecosystem that allows us to grow and set lofty goals for the immediate future,” Wallace said.

Wallace’s pillars of vision are a culture of support; proprietary training; full-service media team; powerful technology and marketing tools; and non-competing broker mentors.

“This move is a culmination of 87 years of history, and we are going back to our roots as an independent firm,” Wallace said. “For three generations, our team has led the real estate industry in the region with service, trust and an ethics-first culture. We’ve seen firsthand that the best community is one built on good people supporting each other, and that the best results come from always holding ourselves to the highest standard.

“With the freedom to make our own decisions for what is best in our community, we have carefully prepared for a new future built with agents and clients in mind.”

About Wallace
With six area offices and nearly 500 sales associates, Wallace is a leading residential and commercial real estate firm in East Tennessee. Selling approximately 4,000 properties each year, the firm owes a great deal of its success to the individuals who laid its foundation: Charles A. Wallace and his father, James A. Wallace, Sr. Since 1936, three generations of the Wallace family have provided buyers and sellers in the region — including Knox, Anderson, Blount, Loudon, Roane and Sevier counties — with a real estate experience that remains unmatched.

The company sets itself apart with industry-leading training and agent development, and always puts integrity first. A one-stop shop for clients, Wallace is an authority on mortgage and financing with CMG Financial mortgage loan specialists available in every office. Clients can enjoy convenient closing services through Melrose Title, a locally owned, attorney-driven title company. In addition to our six residential offices, we also offer a commercial division, a relocation department, as well as property management and rentals.