Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, was recently ranked No. 13 in the nation among the 500 largest residential real estate brokerage firms and No. 8 in the nation among the 136 largest privately owned and independent real estate companies, according to REAL Trends Inc., the leading provider of information and analysis for the residential real estate industry. These rankings were based on Crye-Leike achieving 20,406 closed transaction sides among its 52 branch offices in 2000.
Crye-Leike ranks No. 24 in closed sales volume at $2.9 billion when REAL Trends re-ranked the same top 500 real estate companies.
REAL Trends Inc. annually conducts this nationwide study, entitled the 2001 REAL Trends 500 Report, which is a compilation of leading residential real estate firms ranked by closed transactions and sales volume. Documented by outside accounting firms, the survey represents the most comprehensive collection of data assembled on leaders in the residential brokerage industry regardless of affiliation or ownership.
"The list is dominated by firms affiliated with national franchises, " said Steve Murray, co-editor of Denver, Colo.-based REAL Trends. "Franchised firms represented 70 percent of those listed in the 2001 REAL Trends 500 Report while 30 percent were independent firms."
Only two other real estate firms in Tennessee qualified as privately owned and independent within the 2001 REAL Trends 500 Report. Bob Parks Realty of Murfreesboro ranked No. 45 in the nation, with 5,145 closed transaction sides and 12 offices. Shirley Zeitlin & Co., REALTORS? of Nashville was No. 134 with 1,194 closed transaction sides and three offices.
According to the report, the 500 largest residential real estate brokerage firms collectively powered among their 549 offices nationwide nearly 2.6 million in residential sales transactions, valued at nearly $530 billion during 2000.
Chief Executive Officer Harold E. Crye of Crye-Leike credits the company's No. 13 national ranking to several factors even amid an unpredictable marketplace, technological changes and a rapidly evolving consumer base. "Technology investments, aggressive agent training and education programs, extending our geographic reach and depth of talent and an increased focus on expanding our range of home services all have led our firm to the top," said Crye.
"We have embraced the Internet as a vehicle to improve our core capabilities and pursue new business opportunities related to real estate services," said Crye. "We have spent time, money and resources into investing in the latest technology to serve our clients and sales associates.
"We further have entered new markets in Arkansas, East Tennessee and North Georgia, added offices in the Greater Nashville area as well expanded our presence through franchising within outlying areas in Tennessee and contiguous states."
NRT, Inc. led the 2001 REAL Trends 500 Report as the largest residential brokerage company in the country, establishing a real estate industry record with an aggregate closed sales volume of $105 billion. The Parsippany, N.J.- based company acquires premier residential real estate brokerage firms and operates them as franchised brokerages under the Century 21, Coldwell Banker and ERA brand names. NRT is comprised of more than 32,000 sales associates working out of nearly 700 offices and operating companies in 22 of the nation's largest metropolitan real estate markets.
Other Tennessee real estate firms that ranked in the top 500, along with Crye-Leike included:
Bob Parks Realty of Murfreesboro (No. 92); Realty Executives Associates of Knoxville (No. 109); RE/MAX Elite of Brentwood (No. 138); RE/MAX Preferred Properties Inc. of Knoxville (No. 169); Coldwell Banker Barnes /Snow & Wall of Brentwood (No. 185); Realty Center/ Better Homes & Gardens of Chattanooga (No. 272); Prudential Professionals Realty of Clarksville (No. 358); Coldwell Banker Lakeside, REATLORS? of Hendersonville (No. 441) and Shirley Zeitlin & Co., REALTORS? of Nashville (No. 462). See Exhibit I for detailed rankings.
About Crye-Leike. Crye-Leike (www.crye-leike.com), a full service real estate company, has over 2,100 sales associates and over 52 branch offices, including seven franchises, located in 24 counties throughout a four-state Mid-South region in Tennessee, Arkansas, Mississippi and North Georgia.
Crye-Leike offers real estate and related services including: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; home improvement services; auction services; apartment locator services; franchise sales; premier properties services and builder resource services.
Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 2000 as released by REAL Trends Inc. in its 2001 REAL Trends 500 Report:
Company, Rank Closed by Sales Volume, Rank Closed by Transaction Sides
2000 Sides & Sales Volume and Headquarters
Crye-Leike, 24, 13
20,406 sides; $2.9 billion in sales (Memphis, Nashville, Chattanooga)
Bob Parks Realty 124, 92
5,145 sides; $766 million in sales (Murfreesboro)
Realty Executives Associates 146, 109
4,582 sides; $670 million in sales (Knoxville)
RE/MAX Elite 181, 138
3,687 sides; $545 million (Brentwood)
RE/MAX Preferred Properties Inc. 329, 169
(Knoxville)3,235 sides; $279 million
Coldwell Banker Barnes/Snow & Wall 233, 185
(Brentwood) 2,986 sides; $419 million in sales
Realty Center/Better Homes & Gardens 300, 272
2,142 sides; $311 million in sales (Chattanooga)
Prudential Professionals Realty 485, 358
1,564 sides; $161 million in sales (Clarksville)
Coldwell Banker Lakeside REALTORS 460, 441
1,275 sides; $175 million in sales (Hendersonville)
Shirley Zeitlin & CO. REALTORS 296, 462
1,194 sides; $318 million in sales (Nashville)
Crye-Leike Ranks No. 13 in the Nation Among Top 500 Real Estate Brokers: No. 8 in Nation Among Independents
May 21, 2001