Spotlight On: William Wallace, Partner, McMillan, Psaroudis & Markey PA

Key points:

• • Higher interest rates have slowed residential transactions, increasing demand for responsive legal guidance and creative deal structuring.
• • McMillan, Psaroudis & Markey is expanding relationships with brokers while emphasizing service, availability, and real estate expertise.
• • Growth in Charlotte’s surrounding counties is creating new opportunities as buyers seek more attainable housing options.

July 2026 — Invest: spoke with William Wallace, partner at law firm McMillan, Psaroudis & Markey PA, about how rate dynamics are reshaping residential deal flow, what today’s market is demanding from agents and legal teams, and where Charlotte’s next growth pockets are emerging. “In real estate, efficiency and availability are critical,” Wallace said.

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What changes over the past year have had the biggest impact on the firm, and in what ways?

The biggest impact is that deals are happening at a slower pace, and that ties directly to interest rates. Many people may want to move, but they are hesitant because it does not make as much financial sense as it did a few years ago. When transactions slow down, we see it immediately in our volume.

That environment keeps us focused on how we continue to generate work and stay connected to the people we serve, especially in the builder sector and the residential real estate sector. Even in a slower cycle, we have continued to market, reach out, and stay close to the broker community.

We are also seeing more creativity from both agents and builders in how they are navigating deals. The professionals who know how to structure offers and those who understand how to use incentives effectively are the ones still making deals happen. Real estate is cyclical, and right now it is slower, but there is still room for growth depending on rate movement and the skills the agents and builders bring to the table.

What notable recent initiatives, transactions, or expansions reflect where the firm is headed?

Our firm is always looking at expansion in terms of footprint, including the idea of multiple offices in different locations, so we can better serve clients. The strategic question is where we can add presence in a way that matches where demand is moving.

Day to day, our role is being a resource as agents and builders work harder to get deals across the finish line. We rely on expertise. I am one of six attorneys on staff. I have been doing this for the better part of a decade, and we also have attorneys who have been doing it for more than 40 years. That depth matters in a market like this.

When agents need specialty addenda to get an offer accepted, or when they have questions about contract contingencies, escrow holdbacks, and similar deal points, we have the know-how to navigate those challenges. Even though the broader market is slower, we are uniquely positioned because of our background and skill set, and our primary focus is continuing to deliver great service and remain a reliable resource to our clients.

In a competitive market like Charlotte, how are you approaching talent attraction and retention, particularly as client needs become more specialized?

On the client side, our focus is simple: deliver premier service every single day. There is no real way to differentiate what one real estate law firm does from another in terms of the core work. The differentiator is service, and that shows up as availability, efficiency, and responsiveness.

Every agent I work with and every builder I work with has my cellphone number. Real estate can be repetitive in the legal sense, but the value is in helping people make decisions on tight timelines and keeping transactions moving.

The relationships we have built through decades of service are a major asset. As brokers bring in new agents, and we get introduced to those agents, they see what we provide as far as expertise and service, and they want to work with us. We have added new agents and new brokerage firms to our clientele, and a big reason is that if you call me on a Saturday or after hours on a weekday, I am going to answer.

In real estate, efficiency and availability are critical, and that is what we pride ourselves on. 

Charlotte continues to draw national attention and competes with other high-growth markets. What differentiates Charlotte today when competing for capital?

Charlotte is a transient city. I grew up in St. Louis, Missouri, and back there, the old question folks asked was where you went to high school, because many people stayed put. In Charlotte, the question I ask at the closing table is where people are from, because buyers are coming here from all over the country.

The city offers a lot in terms of location and cost of living compared to other major metro areas. If you are coming from the Upper Midwest or the Northeast and want to get away from harsh winters, Charlotte fits. If you are coming up from Florida and want more seasonal change, Charlotte fits. It has a little something for everyone, and that is one reason we continue to see daily growth.

From a development standpoint, you can see momentum in rezoning tied to the new UDO. There is an appetite for density and an appetite to supply more places for people to live. I do not see markers that the growth is slowing down. The more professionals and companies that come in, the more opportunities there are for broader economic growth.

What trends are you seeing in your practice, and which areas are showing the strongest fundamentals right now?

One major trend is how hard it remains for first-time homebuyers. That segment is still having difficulty getting deals done. It is competitive, even with higher interest rates, and it is largely a price-point challenge. If you are trying to find a home in and around the city for around $400,000, it is extremely difficult.

Because of that, we are seeing more opportunities for first-time homebuyers and families on a tighter budget in the surrounding counties. There has been tremendous growth outside of Charlotte in places like Gaston County. You see it in Lancaster County as well, including areas like Indian Land, which is close to Fort Mill.

We have also seen strong activity in other suburbs as people adjust expectations and look for attainable options. There are still plenty of deals being made in Charlotte itself through seasoned, veteran real estate agents. Values have not decreased. They may not be growing at the exponential rate we saw before, but home values are still growing. If you price appropriately and have the right agent, homes can still move relatively quickly.

Overall, the housing market in Charlotte remains strong, and in some surrounding communities, it is exceptionally strong because there is more opportunity there for buyers.

Over the next two to three years, what are your key goals and priorities for the firm?

Our office wants to generate as much volume as we possibly can. There is an opportunity for growth, and a key priority is expanding our relationships with real estate brokers across the greater Charlotte area, including groups we may not have an immediate relationship with today.

We are fortunate that Ralph McMillan, one of the named partners, has been doing this for more than 40 years and has deep connections in and around Charlotte. We want to continue to leverage that history while also building new relationships and expanding our reach.

The big-picture goal is building our clientele and building our relationships so we have the sustainability and increased volume to allow the firm to grow, both in production and in overall capacity. As that happens, I would like to see us open additional offices to serve surrounding Charlotte communities where we are seeing growth, including places like Gaston County and areas north of Charlotte.

Over the next one to three years, the aim is to expand thoughtfully, stay anchored in service and expertise, and position the firm to support clients wherever deal activity is shifting.

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