What Wallace Real Estate does

Wallace Real Estate is a privately held, family-owned independent real estate brokerage headquartered in Knoxville, Tennessee, founded in 1936 by Charles A. Wallace and his father James A. Wallace, Sr. Now in its third generation of Wallace family leadership, the company operates eleven offices across East Tennessee with nearly 500 sales associates serving residential home buyers and sellers, commercial clients, luxury property owners, corporate relocation customers, and property investors. In 2023 the firm relaunched as the largest independent brokerage in East Tennessee after ending its affiliation with Coldwell Banker, and has since pursued regional expansion through office openings (Twin Lakes, February 2026) and acquisitions of former Coldwell franchisees (Wallace-Nelson, formerly Coldwell Banker Nelson Realtors, March 2026). The firm generated $1.2 billion in total transaction sales volume on 3,700 homes sold in 2022 and now transacts roughly 4,000 properties annually, ranking #258 on RISMedia's 2024 Power Broker list and #274 on RealTrends' Top 500 list.

The company's core offering is full-service residential and commercial brokerage representation, supplemented by an in-house property management subsidiary (Wallace Property Management, wwrents.com), a luxury marketing arm (Wallace Luxury via Luxury Portfolio International), an award-winning relocation department, and bundled partner services including CMG Financial mortgage, Melrose Title, Dogwood Insurance, and 2-10 Home Buyers Warranty. The technology foundation is a Union Street Media-built website platform featuring property search with filters (price, bedrooms, bathrooms, property type, square footage, lot size, status), map-based search, saved searches and favorites, user accounts with Google/Facebook SSO, a home valuation tool, and a mortgage calculator powered by the Federal Reserve (FRED) 30-year rate API. CRM, digital ad automation (Fluency), and analytics integrations support agent productivity.

Wallace makes money through traditional real estate commissions on buyer and seller representation transactions across residential and commercial deals, with rates negotiated between agents and clients following industry-standard 5-6% commission structures split between listing and buyer sides. The company monetizes this transaction volume through its nearly 500-agent roster, with agents operating as independent contractors that share commission with the firm. Complementary revenue streams include property management fees, luxury marketing premiums, and referral fees from global network partners across 70+ countries through Leading Real Estate Companies of the World. Customer segments are horizontally segmented — home buyers and sellers form the largest pool, followed by commercial clients, luxury property clients, corporate relocation clients, and property investors, with no single enterprise customer concentration.

Name

Wallace Real Estate

Legal name

Wallace Real Estate

Website

https://wallacetn.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

251–500 employees

Short description

Wallace Real Estate is a privately held, family-owned independent real estate brokerage founded in 1936 and headquartered in Knoxville, Tennessee, operating eleven offices across East Tennessee with nearly 500 agents serving residential buyers and sellers, commercial clients, luxury property owners, and corporate relocation customers.

Ownership category

akta.pro rank

Product category

Residential Real Estate Brokerage

NAICS

Offices of Real Estate Agents and Brokers (531210), Real Estate Property Managers (53131)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Traditional Residential Brokerage (Existing Homes) (BPAJAAAA)

akta.pro secondary industries

Investment Sales Brokerage (BPAJABAI), Tenant Representation & Corporate Services Brokerage (BPAJABAJ)

Keywords

• Residential real estate brokerage
• Commercial real estate services
• Property management rentals
• Luxury home marketing
• Corporate relocation services

Headquarters

HQ city

Knoxville

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Commissions: Traditional real estate brokerage earning commissions on residential and commercial property sales. Agents serve as intermediaries in property transactions earning a percentage of the sale price.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Wallace Real Estate is a full-service independent real estate brokerage operating in East Tennessee. It provides buyer and seller representation for residential, commercial, and luxury properties, along with dedicated relocation services, property management for investors, and home valuation tools. The company operates 11 office locations with nearly 500 sales associates and leverages a website platform with property search, listing, and customer relationship features.

Product overview

Wallace Real Estate operates as a full-service independent real estate brokerage offering a unified platform of residential and commercial real estate services. The core offering includes buyer and seller representation, commercial real estate, property management, and relocation services. The technology platform, built by Union Street Media, provides property search, user accounts, and mortgage calculator functionality. Additional services are delivered through strategic partners including CMG Financial (mortgage), Melrose Title (closing/title), Dogwood Insurance, and 2-10 Home Buyers Warranty. The company also offers specialized luxury real estate marketing and award-winning relocation services as add-on modules.

Differentiator

Problem solved

Functional benefit

Brands

• Wallace Commercial: Commercial real estate division offering services for commercial properties with a network of 3,000+ professionals globally
• Wallace Luxury

Products and services

• Residential Real Estate Brokerage Services Full-service residential real estate brokerage offering buyer and seller representation for homes in East Tennessee, including single-family homes, condos, townhomes, and luxury properties. Targeted at individual home buyers, home sellers, and families in the East Tennessee region.
• Commercial Real Estate Services Commercial real estate brokerage with a team of local dedicated commercial agents and a network of 3,000+ professionals globally for comprehensive commercial property transactions. Targeted at businesses, investors, and developers needing commercial property services.
• Property Management & Rentals Full-service property management division handling tenant finding, property maintenance, and portfolio management for investors. Operated through Wallace Property Management (wwrents.com). Targeted at real estate investors and rental property owners in East Tennessee.
• Relocation Services Award-winning dedicated Relocation Department providing comprehensive relocation services in the Knoxville market, tailored to corporate and individual relocations. Targeted at companies and HR departments relocating employees to East Tennessee, as well as individual relocating families.
• Luxury Real Estate Marketing Luxury real estate marketing services leveraging the Wallace brand prestige, state-of-the-art technology, and bespoke marketing strategies to showcase luxury properties on a global stage through Luxury Portfolio International membership. Targeted at high-net-worth individuals buying or selling luxury properties.

Quantifiable outcome

• Approximately 4,000 properties sold each year
• +1 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature1 record

Partnerships

Nine partnerships are on record, tiered core, support and strategic.

• Leading Real Estate Companies of the WorldcoreStrategic or Co-development PartnerGlobal network affiliation providing Wallace with connections to real estate professionals in 70+ countries. Enables referrals to/from partner firms worldwide and provides marketing and training resources. Wallace is a member of this prestigious network.
• Luxury Portfolio InternationalcoreStrategic or Co-development PartnerPremium global network for luxury property marketing. Provides Wallace with platform to showcase luxury properties on a global stage to affluent buyers worldwide.
• CMG FinancialsupportGTM or Marketing PartnerMortgage financing partner with CMG Financial mortgage loan specialists available in every Wallace office. Provides convenient financing options for buyers.
• Melrose TitlesupportGTM or Marketing PartnerLocally owned, attorney-driven title company providing closing services. Available for convenient closing services through Wallace offices.
• Dogwood InsurancesupportGTM or Marketing PartnerInsurance partner providing home insurance solutions for Wallace clients as part of the one-stop-shop approach.
• 2-10 Home Buyers WarrantysupportGTM or Marketing PartnerHome warranty solutions offered as part of Wallace's comprehensive service offering for buyers and sellers.
• Union Street MediacoreTechnology or IntegrationDigital marketing and website services provider that created and maintains the Wallace Real Estate website. Provides ongoing digital marketing services including SEO, content, and analytics.
• Wallace-Nelson (formerly Coldwell Banker Nelson Realtors)strategicChannel Partner/ Reseller/ DistributorNew partnered office joining Wallace family in March 2026, strengthening presence in Blount County. Formerly Coldwell Banker Nelson Realtors, now operating as Wallace-Nelson.
• Wallace-Nelson (formerly Coldwell Banker Nelson Realtors)strategicChannel Partner/ Reseller/ DistributorNew partnered office joining Wallace family in March 2026, strengthening presence in Blount County. Formerly Coldwell Banker Nelson Realtors, now operating as Wallace-Nelson.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Emerging players

• eXp Realty: eXp Realty is a cloud-based, agent-centric brokerage operating nationally with no traditional brick-and-mortar model. Comparable in residential services and commission structure but competes for the same agent pool with higher splits and a remote operating model.
• Compass: Compass is a tech-enabled national brokerage that has been expanding into Tennessee. Comparable in residential buyer/seller services and luxury focus, but differentiated by proprietary technology platform, marketing tools, and agent equity compensation model.
• Realty ONE Group: Realty ONE Group is a fast-growing independent brokerage franchisor with UNBrokerage model offering high agent splits. Comparable as a residential-focused, agent-friendly alternative; differs via franchise structure vs. Wallace's wholly-owned model.
• HomeSmart: HomeSmart is a technology-forward national brokerage offering high agent commission splits and digital tools. Comparable residential buyer/seller representation; directly competes with Wallace for agents by offering better economics and proprietary technology.

Direct peers

• Crye-Leike Real Estate Services: Crye-Leike is the largest privately held regional brokerage in the Mid-South, headquartered in Memphis, TN, with comparable agent count, multi-office distribution, and independent regional operating model. Highly comparable given overlapping Tennessee footprint and similar service mix including residential, commercial, and property management.
• Howard Hanna Real Estate Services: Howard Hanna is a large, family-controlled independent regional brokerage operating across the Mid-Atlantic, Midwest, and Southeast. Comparable as an independent, multi-office, full-service brokerage with similar agent scale, residential focus, and family-influenced culture.

Broad incumbents

• RE/MAX: RE/MAX is a global real estate franchise with strong Tennessee presence. Comparable as a commission-based residential brokerage serving similar buyer/seller segments; differs in that RE/MAX is a franchise network rather than an independent roll-up platform.
• Coldwell Banker: Coldwell Banker is the national franchise Wallace departed in 2023 to go independent. Directly comparable in residential brokerage services, agent structure, and target buyer/seller segments, and remains a key competitor for agents and consumers in the same East Tennessee market.
• Keller Williams Realty: Keller Williams is the largest real estate franchise by agent count globally with significant East Tennessee presence. Comparable agent-centric, commission-based residential model with similar emphasis on agent training, ownership opportunities, and market-center structure.
• Berkshire Hathaway HomeServices: Berkshire Hathaway HomeServices is a national residential brokerage franchise competing for agents and listings in Tennessee. Comparable product offering (buyer/seller representation, luxury, relocation) and similar commission-based model, though backed by national brand and capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/WeAreWallaceRE
• LinkedInlinkedin.com/company/wearewallacere
• Instagraminstagram.com/wearewallacere
• Xx.com/WeAreWallaceRE

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 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 Wallace Real Estate