ABOVE: Harold Crye and Dick Leike started with Crye-Leike Memphis in 1977. // SUBMITTED
As it celebrates its 41st year, Crye-Leike Real Estate Services is reporting that 2017 was another record-breaking year, with $6.5 billion sold in real estate, and 32,583 transactions.
The company, founded in 1977 by Harold Crye of Brentwood and Dick Leike of Memphis, is now the nation’s fifth largest privately-held residential real estate firm and the largest in the Mid-South.
“We anticipated there would be some challenges in real estate for 2017, inventory shortages were an issue and we saw an increase of annual tenure in homes,” CEO Harold Crye said in a company announcement. “Despite those challenges, our sales associates were able to excel and make it our best year to date.”
The company has more than 3,200 sales associates and 128 company-owned and franchise offices in a nine state region (Tennessee, Arkansas, Alabama, Florida, Georgia, Kentucky, Mississippi, Missouri, and Oklahoma) and Puerto Rico.
“We are proud of our network of Crye-Leike sales associates who dedicate their services to help home buyers and sellers in and around their communities,” Co-Founder Dick Leike said in the announcement. “Their hard-work, time, and commitment have made it possible for over 650,000 families to make the dream of home ownership a reality since we first opened our doors over 40 years ago.”
Crye and Leike shared the announcement in an annual January kickoff meeting to agents and employees in each of their nine state regions. Sales Associates received 2017 company highlights as well as the 2018 company goals. “Let’s continue to set goals and make 2018 the best year to date,” Leike said. “Although, challenges for the real estate industry in 2018 appear to be similar to that of 2017, we can reach our 2018 goal of $6.8 billion.”
Steve Brown, Crye-Leike’s President of Residential Sales, said the new tax law could help during 2018.
“Crye Leike had its best year ever in 2017, exceeding our volume in the boom year of 2007, with $6.5B in sales,” Brown said. “We just don’t have enough inventory and in most of our regions, we do not have volume builders, so the units were essentially flat. We’re encouraged that the U.S. tax overhaul will help boost jobs and therefore sales in 2018 and even in to 2019. We are focused on growth in sales and agents.”
Crye-Leike credits their one-stop shopping environment for their steady growth, providing financial services with mortgage lending, title closing, insurance, home services, property management, and national relocation services. Additionally, their website Crye-Leike.com is one of the most heavily visited and professionally managed real estate website in the United States, updating their home listings ever 12 minutes. “The convenience, efficiency, and dependability we provide for consumers will be the driving force to keep our company on track for our 2018 goal,” Crye said.