January, 2008:

Niche real estate firm giving homes of

distinction the royal treatment

 by Mitch Moore

When Donna McCullough-Mitchell attended the Institute for Luxury Home Marketing last year for some specialized real estate training, the long-time agent and broker says her eyes were opened to a largely untapped niche market. “I had been working with a high-end residential community in Gatlinburg and had a good experience with luxury lot and home sales,” McCullough-Mitchell recalls. “I thought I could take those skills, apply them to a larger area and provide those services to all of East Tennessee.”

 That moment of inspiration led McCullough-Mitchell and her daughter, Kimberly Estes, to start their own company, East Tennessee Luxury Properties, which specializes in representing buyers and sellers of upscale homes and home sites. The duo opened an office in Maryville last May with nearly $20 million in listings right off the bat and have since focused on delivering a level of services befitting the high-dollar values of their inventory. “We’re not the first company to deal with high-end properties, but we are trying to create a business that caters to that niche,” McCullough-Mitchell says.

When Donna McCullough-Mitchell attended the Institute for Luxury Home Marketing last year for some specialized real estate training, the long-time agent and broker says her eyes were opened to a largely untapped niche market. “I had been working with a high-end residential community in Gatlinburg and had a good experience with luxury lot and home sales,” McCullough-Mitchell recalls. “I thought I could take those skills, apply them to a larger area and provide those services to all of East Tennessee.”

 That moment of inspiration led McCullough-Mitchell and her daughter, Kimberly Estes, to start their own company, East Tennessee Luxury Properties, which specializes in representing buyers and sellers of upscale homes and home sites. The duo opened an office in Maryville last May with nearly $20 million in listings right off the bat and have since focused on delivering a level of services befitting the high-dollar values of their inventory. “We’re not the first company to deal with high-end properties, but we are trying to create a business that caters to that niche,” McCullough-Mitchell says.

Many of East Tennessee Luxury Properties’ buyers live in other markets, and in such cases, McCullough-Mitchell and Estes help potential buyers make travel arrangements when coming to view East Tennessee properties. This means planning ahead of time for everything from hotel or luxury-inn bookings to car and limo rentals.

McCullough-Mitchell makes sure she is personally on hand for all showings, which are by appointment only. “There are so many details involved when showing a luxury home,” she explains, pointing out an example of the typical booklet that potential buyers receive when touring a home. “Each information package has pages and pages of features and illustrations.”

 Another element that distinguishes East Tennessee Luxury Properties is its networking capabilities. At the national level, this means partnering with brokers all over the country to cross-market properties to both local and out-of-town buyers. Currently, the company is giving local exposure to properties in Florida, Kentucky and Illinois, to name just a few markets, which in turn means that buyers in those areas are seeing East Tennessee listings.  “One thing we learned in our training at the Institute for Luxury Home Marketing is that you don’t limit yourself to just your immediate neighborhood,” says McCullough-Mitchell.

 Locally, her agency has teamed up with a network of home-related businesses to provide customers and clients with concierge-level service. This end-to-end solution for buyers and sellers, known as the East Tennessee Luxury Network, puts them in contact with recommended businesses such as contractors, architects, interior designers, accountants and more. “We only network with top-quality business owners who take pride in what they do,” says McCullough-Mitchell.

 Two of her property listings—The Enclave at Cove Mountain and Rock Point at Rarity Bay—have hosted open-house wine-tasting events showcasing the agency’s affiliated service providers. “We sent out 800 invitations to local Realtors and qualified, potential buyers, which not only helps us market our homes to buyers but helps those partnering businesses educate the public about what they have to offer. It gives them exposure at no cost to them.”

From a marketing standpoint, East Tennessee Luxury Properties takes service to new levels with a strategic, state-of-the-art approach. For starters, much of their advertising is done in national, niche-market publications such as Unique Homes and The Robb Report. In fact, an article in an upcoming issue of Unique Homes uses McCullough-Mitchell as a source in discussing the up-and-coming East Tennessee luxury-home market. “The rest of the country is starting to discover what we have to offer in this region,” she says. “East Tennessee has lower costs of living, beautiful lake and mountain views, and the high-end properties are close to shops and service providers.”

She cites statistics that illustrate the exponential growth of the luxury-home market in the region. For example, the number of $1-million-plus homes listed with the Knoxville Association of Realtors has recently grown to approximately 190, while 118 such homes were sold in 2006.

 Homes listed for sale through East Tennessee Luxury Properties receive professional photography services (aerial photography is available) and enhanced exposure through the company’s recently upgraded website. “More than 90 percent of affluent home buyers use the web before contacting a Realtor, and according to a study provided by the Institute for Luxury Home Marketing, 97 percent of those would use a Realtor to buy a property,” says McCullough-Mitchell. “The web is so important, which is why we’ve updated our site with more search-engine tags to increase traffic as well as press releases and improved search features for buyers.”

 Sellers also receive a marketing calendar and detailed weekly marketing reports with up-to-date information about what the agency has been doing to promote their properties. “We want sellers and buyers alike to know that we understand this is one of the top money decisions they will make, so we partner with them to work with them as a team when it comes to marketing,” McCullough-Mitchell explains. “We give them the confidence that we are going to do what we say we’ll do.”

 Currently, East Tennessee Luxury Properties has nearly two-dozen properties in its inventory, including home sites in private, gated communities like The Reserve, located on the Tennessee River, and The Enclave at Cove Mountain. The former features 35 home sites, starting at $175,000. Homes run in the $1 million to $4 million range. The latter has 49 sites, starting at $495,000 and with homes also in the $1 million to $4 million range.

 

The company’s newest agent, Vicki Chrest, resides in Tellico Village and hopes to use that presence to open up exposure to that market, in addition to others in the region. Chrest is a 2006 Knoxville Association of Realtors Silver Award of Excellence winner.

 One of the agency’s private-estate listings is Tennessee Hideaway in Maryville. This 80-acre property features rolling woodlands and pasturelands that would be great for a horse lover. Other highlights include a main house with smart-home technology, a restored 100-year-old farmhouse and barns, and an airstrip with hangar.

 Another estate, Rock Point at Rarity Bay, would serve as either a primary or secondary residence. The 6,000-square-foot, French country-style estate on Tellico Lake in Vonore offers both a terrific location and quality craftsmanship.

 “We also have a primary residence on three lots on St. Ives in Alcoa,” says McCullough-Mitchell. “It’s a gardener’s dream.”

 McCullough-Mitchell got into the real estate business in Dallas, Texas in 1978 and eventually relocated to Maryville with her husband in 2001. She worked with high-end properties through a Knoxville real estate agency and then, after getting her principal broker’s license in 2005, headed up Norton Creek Real Estate in Gatlinburg.

 Kimberly Estes previously worked in project management in the computer software field before relocating from Austin, Texas to Maryville in 2006. “Her project-management skills have gone hand in hand with the work she has been doing with area developers,” says McCullough-Mitchell.

 You can search the company’s inventory of listings by visiting their website, www.easttnluxuryproperties.com. Or you can call 865-556-1622 to make an appointment for a showing.

 East Tennessee

Luxury Properties

1118 West Broadway Ave.

Maryville, TN 37801

865.379.8729 - Office

www.easttnluxuryproperties.com

©2008 East Tennessee's Mountain Views. All rights reserved.