Company History Quick Facts:
- Crye-Leike, Realtors was established in 1977 in Memphis, TN.
by Harold Crye and Dick Leike, becoming the largest firm in Memphis within
three years.
- Regional operations expanded in 1992 into the Middle Tennessee
real estate market. (Nashville), becoming the largest real estate firm in
Nashville in one year.
- In 1993, Crye-Leike surpassed the $1 billion mark over a one-
year period at $1.01 billion in sales volume.
- In 1997, expanded regional operations into East Tennessee within
the Greater Chattanooga area. Within four years, Crye-Leike became the
No. 1 market leader in the number
of closed transactions, with agent growth and sales volume more than
tripling.
- In 1998, Crye-Leike surpassed the $2 billion mark over a one-
year period at $2.5 billion in sales volume.
- In 1999, Crye-Leike reached the $3 billion milestone over a
one-year period at $3.02 billion in sales volume, ranking it as the 10th
largest real estate company in the nation.
- In 1999, expanded regional operations in East Tennessee by opening
a branch office in Johnson City and a second office in Arkansas (Jonesboro).
- In 2000, expanded offices into Georgia, Ft. Oglethorpe, along
with its third branch office in Mississippi, Hernando.
- In 2002, Crye-Leike celebrated its 25th anniversary in business
and posted a record performance of $3.17 billion in year-end sales volume
company wide, the highest ever in company history. In 2002, it also
expanded into Kentucky and Florida with three Crye-Leike franchises;
established its fourth regional headquarters in Little Rock, Arkansas; and
enhanced the Crye-Leike Web site which increased traffic to the site
ten-fold, averaging over 5 million hits a month and 100,000 unique visitors
a month.
- In 2004, Crye-Leike retained its No. 10 national ranking among
the nation's largest and most successful residential brokerage firms. The
ranking was based on 2003 sales, a position the company also
held in 1999. Year-end sales in 2003 disclosed that Crye-Leike had its best
year in the history of the company at $3.66 billion in sales volume, handling
24,953 closed transaction sides.
- In 2004, Crye-Leike, Inc. in Memphis, TN, one of four Crye-Leike
regional hub offices, is ranked No. 28 among 100 of the largest private
companies in Memphis. It was also ranked No. 23 among the faster growing
top 100 private companies in Memphis. Additionally, Crye-Leike,
Inc. in Memphis ranked No. 21 among the largest 100 employers in Memphis.
Arkansas Business ranked Crye-Leike of Arkansas, Inc. the 4th largest real estate
firm in Arkansas in 2003.
- In 2004, Crye-Leike was ranked by Business Tennessee magazine in
August 2004 among the Top 100 Private Companies in Tennessee. Its
$127 million in revenue in 2003 ranked Crye-Leike the 80th largest
private company in Tennessee.
- In 2005, Crye-Leike entered its seventh market region, Alabama, through establishing
a franchise office there. Crye-Leike of Arkansas moved in ranking from No. 4 to No. 2
as the 2nd largest real estate firm in Arkansas as ranked by Arkansas Business magazine.
Crye-Leike became a registered service mark of Crye-Leike, Inc. on Sept. 6, 2005, federally
registered & protected by the U.S. Patent & Trademark Office.
- In 2006, Crye-Leike had its best year ever reaching $6.1 Billion in sales, a 9% increase
over the year before. Crye-Leike is the 4th largest real estate company in the nation and
#1 in Tennessee, Arkansas and the Mid-south.
- In 2007, Crye-Leike saw it's 3rd best sales years on record with $5.7 Billion
in volume and more than 32,500 units. Despite a housing market slow-down, the
company continued in its quest to grow and gain more market share in its newest markets
of Little Rock and Northwest Arkansas and Atlanta, Georgia.
The Crye-Leike Story:
The First 15 Years...
Crye-Leike, Realtors was established in January 1977 in Memphis, Tennessee
by Harold Crye and Dick Leike. Crye-Leike became the largest firm in Memphis within
three years. 15 years later saw the company's first expansion beyong the Memphis
region. Harold and Dick set their sights on Middle Tennessee. In 1992 they launched a
second hub office in Nashville to tap into the Greater Middle Tennessee real estate
market. Within one year, Crye-Leike became the largest real estate firm in the
region.
Milestone: $1 Billion in Sales in 1993
In 1993 Crye-Leike achieved a milestone that it's founders would have never
imagined 17 years earlier. That's the year the company reached the "$1-billion in sales mark"
and the momentum it seems hasn't let up since. Five years later in 1998
Crye-Leike surpassed the $2 billion mark over a one-year period with
$2.5 billion in sales volume and one year later, gross sales topped the
$3 billion mark at $3.02 billion. The year was 1999 and Crye-Leike was declared
the 10th largest real estate company in the nation.
Expanding Operations....
During the late 1990's in 1997, Crye-Leike established its third Regional
Hub office in Chattanooga, Tennessee. Within four years, Crye-Leike became
Chattanooga's No. 1 market leader in the number of closed transactions,
with agent growth and sales volume more than tripling. Crye-Leike expanded
its regional presence in East Tennessee by opening an office in Johnson
City in 1999. In 2000, Crye-Leike opened its first Georgia office.
In January 2002, Crye-Leike celebrated its 25th anniversary in business.
At year-end, the company posted a record sales
performance of $3.17 billion in year-end sales volume company wide, the
highest ever in company history.
The company's fourth regional hub office was established in
Little Rock, Arkansas in May 2002, a
move that has almost tripled Crye-Leike's real estate sales in Arkansas, since
establishing a Jonesboro office in 1999.
In 2005 Crye-Leike established a presence in Atlanta by opening a real
estate sales office in Alpharetta, Georgia. In 2006 Mississippi operations
grew to cover the Jackson metro area with the opening of the Ridgeland office.
Also in 2006 Crye-Leike established a regional headquarters in Northwest Arkansas.
Throughout 2006 and 2007 several more offices were added throughout these areas.
Crye-Leike has consistently experienced an escalating rate of growth in
sales since the company's early beginnings of reaching $19.4 million in the
first year. Sales grew 415.8 percent during the first 10 years of business.
That percentage of growth has steadily climbed over the past 15 years between
103 percent and 145 percent, averaging 118.6 percent.
Expanding through Franchising...
Expanding through real estate franchising -
Crye-Leike, Realtors began
franchising operations in 1999. Crye*Leike Franchises Inc.
(http://franchises.crye-leike.com) is the
franchisor of Crye-Leike, focusing its marketing efforts on establishing
franchise territories in smaller populated areas where it would not
normally open a company office because of market size and location.
Crye*Leike Franchises provides comprehensive training, management,
administrative and marketing support for the Crye-Leike franchise system.
Crye*Leike Franchises is comprised of over 30
independently owned and operated franchise offices.
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