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Crye-Leike, the nation's 6th largest real estate company
and the largest in Tennessee, Arkansas and the Mid-South, marked its
25th anniversary this year.
For its 25th anniversary, Crye-Leike's founders marked the occasion by having a beautiful
bronze commemorative plaque placed on permanent display in the lobby of
its Quail Hollow headquarters in Memphis, TN.
Given Crye-Leike's founding in Memphis, Tennessee, it was only
fitting that Memphis Mayor Willie W. Herenton and Shelby
County Mayor Jim Rout issued a
joint proclamation declaring
the day of July 19, 2002 as Harold Crye & Dick Leike Day. City
mayors in Nashville and
Chattanooga, where Crye-Leike
holds additional regional hub offices, also followed suit by issuing
proclamations. Even sitting Governor Don Sundquist acknowledged Crye-Leike's
25 years of achievement by issuing Harold and Dick the
Tennessee Volunteer Commendation
Award in recognition of their
accomplishments, dedication to their community and the
State of Tennessee.
The plaque acknowledges Crye-Leike's founding in January
1977 by co-founders Harold Crye and Dick Leike and commemorates the
company's dedication, during its first 25 years in business, to
the growth and development of local communities and the real estate
industry.
Through the vision and leadership of Harold Crye and Dick Leike,
Crye-Leike grew to become the 10th largest real estate
company in the nation and No. 1 in the Mid-South during this 25-year
period. "Looking back, our company was built upon a mutual
respect for each other's talents and a desire to
succeed," said Dick.
"When Harold and I first decided to start a real estate
company, I don't think that we wanted to be the biggest company,
but we did have a sincere desire to provide the best real estate
sale services around," said Leike." Our growth was a
result of just that. Since ours was a true service business,
providing the best service fostered our company growth."
"With 25 years of service behind us, we have developed a
customer base that has come to know and trust the name 'Crye-Leike,'
" said Harold Crye. "Our loyal customers and the strength
of our dedicated sales associates and staff have made Crye-Leike No.
1 and we are eternally grateful."
In the first 25 years, Crye-Leike went through significant
growth and expansion:
- Crye-Leike became the largest real estate firm in Memphis
within three years of its establishment in 1977.
- Harold and Dick took the company to new heights with their
full service approach to customer service and further became
known as innovators in commission structure and marketing,
credited for bringing order and consolidation to an
unstructured industry. They opened a relocation division, a
commercial property division, a property leasing and
management company, an insurance agency, a mortgage
division, a home improvement division and an auction
division.
- 1988 marked a first Crye-Leike found itself ranked #34
among the Top 500 real estate companies in the nation.
- In the early 1990's Harold and Dick determined it was more
cost efficient to move into new markets rather than continue
seeking a bigger share of the hometown business. The company
opened its second regional office in Nashville, Tenn. in
1992 and became the No. 1 provider of real estate services
in Middle Tennessee within one year.
- In 1993, Crye-Leike passed the $1 billion mark in annual sales volume
for a one-year period.
- 1995 was a pivotal year for Crye-Leike when its national ranking jumped from
No. 31 to No. 15 among the Top 500 real estate companies, with a sales volume
of $1.58 billion and 14,356 transaction sides.
- Crye-Leike opened its third regional office in Chattanooga,
TN in 1997 and four years later, became the No. 1 market
leader in the number of closed transactions. Agent
growth and sales volume more than tripled.
- In 1998, Crye-Leike surpassed the $2 billion mark in sales volume and ranked nationally as the
10th
largest real estate company. The very next year, Crye-Leike surpassed the $3 billion
milestone at $3.02 billion in annual sales volume.
- In 1999, Crye-Leike further expands its southern footprint
by opening a 4th regional office in East Tennessee,
Johnson City. In 2000, Crye-Leike entered Georgia,
broadening its Mid-South presence. The company's 5th
regional office was established in Little Rock, Arkansas. in June
2002.
- Real Estate Franchising was yet another
expansion strategy used. Since
1999, introduction of the franchise concept has allowed
Crye-Leike to broaden its market presence into an eight state southern region of
Tennessee, Alabama, Arkansas, Georiga, Florida, Kentucky, Mississippi, and
North Carolina.
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