Editorial
Front Page - Friday, April 9, 2010
Realtor eats, sleeps, breathes outdoors
David Laprad
Steve Pevehouse specializes in land sales in Tennessee. A general contractor by trade, he obtained his real estate license in 1986.
- David Laprad
Steve Pevehouse, Realtor, pulls up to the entrance to Cumberland Trail State Park near Jones Gap Road and brings his black Ford F-150 to a stop. After turning off his truck, he hops out of its cab, clad in a casual shirt, blue jeans and a pair of hiking boots. Unlike many of his colleagues, who dress to the nines when showing a property, this is how he suits up for work.
While Pevehouse, who specializes in land sales, could slip into the three-piece ensemble gathering dust in his closet at home, that wouldn’t impress his clients or stop the ticks.
“I work and play outside,” he says. “And I dress for the occasion.”
As Pevehouse heads down the trail, his eyes scan the path of jutting stones and tree roots ahead of him. “Watch out for moving sticks,” he warns, referring to the snakes that populate Southeast Tennessee’s woodlands. His job is not without its hazards or its perks.
As Pevehouse walks down a slight bend in the trail, a waterfall comes into view. “Wouldn’t you like this to be your backyard?” he says, watching the frothy stream cascade over jet-black rocks.
“Tennessee is one of the prettiest states in the U.S. Being from here, I took it for granted, and didn’t realize how gorgeous it was until I left and came back. I’ve lived and worked from the East Coast to the West Coast, and I found beauty everywhere I went – even in the Arizona desert – but returning home opened my eyes to how amazing this state is.”
Tennessee is also home to large tracts of private land, which means Pevehouse uses a different set of tools than his colleagues working the residential and commercial beats. He carries a compass with him at all times, as well as a can of tick spray, and makes good use of his truck and four-wheeler, both of which can carry him long distances across rough terrain.
“Back when we had the last big snow, I’d listed 410 acres on Fredonia Mountain. The owners had four-wheelers, too, so we looked at their property while riding our toys,” he says.
In addition to making good use of his tools, Pevehouse does a considerable amount of research when listing a property. However, instead of checking square footage, like his counterparts in the city, Pevehouse looks into whether the land comes with timber rights or has any easements against it.
“A lot of people buy land without knowing what they’re getting,” he says. “Someone might purchase 40 acres, but did it come with mineral rights? Surface rights? Underground rights? Few people think about those things; they just see a pretty piece of land and buy it. Then, ten years later, someone shows up with a bulldozer to haul the coal off their property.”
Pevehouse not only has his clients’ backs when it comes to their rights, he can also help a land owner determine the best approach to selling his property. When he suggests the owner split up the land get a better price, though, he opens a whole new can of worms.
“Three brothers wanted to divide and sell an 80-acre ranch in Bradley County,” he says. “When that happens, the surveyors, the planning commission and the utility companies all get involved. It can keep you busy.”
There are other challenges, such as declining land values. “It’s a buyer’s market,” Peve-house says. “Prices are falling and sales are slowing. I’ve listed properties that are barely above where they were four years ago.”
Pevehouse says sellers are having a difficult time adjusting to the harsh realities of the market. To help his clients understand the situation, he educates them using comparable sales. “Real estate is an open market,” he says. “Prices go up; prices go down. For years, everything was escalating; now things are plummeting.”
Pevehouse’s enthusiasm for selling land, however, is as high as it was when he obtained his real estate license in 1986. A general contractor by trade, he was planning to invest in real estate when he struck up a conversation with a man who was trying to unload some property. Pevehouse felt as though he was listening to a foreign language.
“I thought I’d better get a little knowledge about real estate since I was getting ready to put some money into it, so I took a night class at UTC,” he says. “After I passed the exam, I took the state test, just to see if I could pass it, too. And I did. Several weeks later, all of these real estate companies started sending me letters inviting me to come work for them.”
Pevehouse didn’t quit his day job in construction, but he did begin selling residential and commercial real estate part-time. Although sales were good and his skills were improving, he wasn’t fond of spending Sunday afternoons at open houses. Eventually, he picked up a few property listings, and found them to be more to his liking.
“I grew up outdoors,” he says. “I fished, hunted and raced motocross. Almost everything I enjoyed doing took place outside. So, I realized I’d rather be walking a hundred acres with a client than be stuck at an open house.”
Pevehouse’s business grew slowly following his revelation. Today, his track record includes a stint as a million-dollar producer and membership in a premiere club. But his success plays second fiddle to spending his days outside and taking pleasure in the satisfaction of a job well done.
“When I first got into real estate, we had a one-page sales agreement,” he says. “Now we have a seven page sales agreement with addendums. I’d rather be out there with a buyer and a seller on a four-wheeler looking at a piece of property.”
Pevehouse looks at the waterfall again, taking a moment to appreciate a small splash of beauty on a vast and captivating natural canvas. “Tennessee has a lot of scenery like this,” he says. “People ought to get out and explore it.”
Just make sure to dress for the occasion. And watch out for moving sticks.
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