Crye-Leike Reaches Nearly $3 Billion in Sales for Year End

Memphis, Tenn. – Crye-Leike, the largest real estate company in Tennessee and the Mid-South, posted near-record sales of $3 billion in 2001 for its third consecutive year during the company’s 25-year history.

Year-end sales volume company wide for 2001 was $2.95 billion, up .79 percent from $2.93 billion through Dec. 2000. Crye-Leike’s 2,200 sales associates in a four-state Mid-South region handled 20,768 closings in 2001, a 1.01 percent increase from the 20,560 closings reported through Dec. 2000.

“Crye-Leike is a strong, viable company that continues to grow,” said Chief Executive Officer Harold E. Crye-Leike.  This year marked Crye-Leike’s 25th anniversary in business. In 2001, the company opened five new branch offices and four franchise offices, relocated and expanded operations in four branch offices and opened a new division within the Memphis and Nashville areas, Crye-Leike Home Services, that offers a network of discounted home and family related services to its home buyers and sellers. “Plans for 2002 include expanding offices and franchises as well as broadening services into new market areas within Tennessee and contiguous states,” said Crye.

Crye-Leike reports $665.86 million in sales during the fourth quarter, remaining relatively unchanged over $665.28 million this same period in 2000. These figures represent 4,851 units sold during the fourth quarter in 2001, a 4 percent increase from 4,650 closings reported for the same period in 2000.

For the month of December, Crye-Leike reported $212.04 million in sales, up at 4 percent from $202.23 million in 2000. These figures represent 1,598 units sold in December 2001, a 12 percent increase from 1,425 closings reported for the same period in 2000.

Crye-Leike’s 2001 sales figures include new and existing single family homes, condos and duplexes as well as commercial properties within a four-state regional market area (Tennessee, Arkansas, Mississippi and Georgia.) Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller.

CRYE-LEIKE OF ARKANSAS, INC. (JONESBORO)    Crye-Leike established its Jonesboro, Ark. office in Dec. 1999. “This location continues to show a strong percentage of growth in sales,” said Crye.

Year-end sales volume in 2001 for Crye-Leike of Arkansas, Inc. (Jonesboro) totaled $50.08 million, up 38 percent from $36.35 million through 2000. These figures represent 533 in property sales, a 17.4 percent increase over comparable year-end results in 2000.

Fourth-quarter sales of $12.04 million in the Jonesboro area in 2001 represent a 34 percent increase over same-quarter results a year prior. Its 121 real estate property sales in the fourth quarter of 2001 represent a

5 percent increase over comparable quarterly results a year prior.

The local sales volume in Dec. 2001 was $5 million, up 75 percent from last Dec., representing 48 units closed, a 37 percent increase from the same period in 2000.

Crye-Leike of Arkansas, Inc. has 33 sales associates who market residential, commercial, investment property, farms and acreage sales in Craighead, Greene, Lawrence and Poinsett counties.

CRYE-LEIKE OF CHATTANOOGA, INC.        Crye-Leike of Chattanooga, Inc. continues to show a strong percentage of growth in quarterly sales since its offices were established in December 1997, up a record 36 percent in the fourth quarter from a year earlier.

In Chattanooga, Crye-Leike has more than tripled its sales volume from $105.3 million to $322.79 in the four years it has had a presence there. Sales volume in the fourth quarter totaled $77.75 million, up 36 percent, and property sales totaled 673, up 31 percent from same-quarter results a year earlier.

Year-end sales volume totaled $322.79 million, up 26.5 percent, and property sales totaled 2,690, a 22 percent increase from the sales reported through 2000.

The company attributes its steady growth to its aggressive expanded presence in the Chattanooga market. “Within the past four years, Crye-Leike of Chattanooga has grown from four branch offices to eight branch offices in the Greater Chattanooga area and from 95 to over 260 sales associates,” said Jack Webb, vice president and general manager of Crye-Leike of Chattanooga Inc. The company’s latest branch office additions were established last year in Cleveland, Tenn. and Fort Oglethorpe, Ga., Crye-Leike’s first branch office in the state of

Georgia.

Crye-Leike of Chattanooga, Inc. has nine branch and franchise offices in five counties within the Greater Chattanooga area: Bradley, Hamilton, McMinn and Meigs counties, including Catoosa County in North Georgia. Branch and franchise offices are conveniently located in Athens, downtown Chattanooga, Cleveland, Decatur, East Brainerd, Hixson, Kingston, Morristown, Signal Mountain and Soddy-Daisy, including Ft. Oglethorpe, Ga. Sales associates within the Chattanooga area currently total over 260.

 

CRYE-LEIKE OF EAST TENNESSEE, INC. (JOHNSON CITY)    Crye-Leike established its first East Tennessee office in Johnson City, Tenn. in January 2000. “This location continues to show a strong percentage of growth in sales,” said Crye.

Year-end sales volume in 2001 totaled $23.17 million, up 55 percent, and property sales totaled 179, a

29 percent increase from the sales reported through 2000. Sales volume in the fourth quarter of 2001 totaled

$ 6.20 million, up 77 percent, and property sales totaled 49, up 69 percent from same-quarter results a year earlier.

Crye-Leike of East Tennessee, Inc. has three branch and franchise offices in East Tennessee in Washington, Hamblen and Roane counties. Its 20 sales associates market residential, commercial and investment property sales in Washington, Sullivan, Carter and Unicoi counties, with its franchise office serving Roane, Rhea, Loudon, Knox and Anderson counties.

 

CRYE-LEIKE, INC. (MEMPHIS)    Crye-Leike sales in the Greater Memphis area represent 49 percent of the company’s total sales volume. Crye-Leike defines its Greater Memphis market area by including its branch offices in West Memphis, Ark. as well as offices in Olive Branch, Hernando and Southaven, Miss.

The company reported year-end sales volume for Crye-Leike, Inc. in the Greater Memphis area to be

$1.48 billion in 2001 with year-end closings at 9,904. Fourth-quarter sales in 2001 closed at $326.10 million, representing 2,290 in property sales. The local sales volume in December 2001 was $114.46 million, which represents 810 closings.

Crye-Leike, Inc. in Memphis has a sales force of over 1,100 sales associates who are located in 22 branch and franchise offices in eight counties throughout a three-state Mid-South region:

ARKANSAS –  Crittendon, Craighead and Mississippi counties; MISSISSIPPI – DeSoto, Lafayette, Lee and Union counties; and TENNESSEE: Hardin and Shelby counties.  Its branch and franchise offices are conveniently located in: TENNESSEE – Arlington, Bartlett, Collierville, Cordova, Germantown, Memphis, Millington and Pickwick Dam; ARKANSAS – Blytheville, Jonesboro and West Memphis; and

MISSISSIPPI – Hernando, New Albany, Olive Branch, Southaven and Tupelo.

 

CRYE-LEIKE OF NASHVILLE, INC.    Crye-Leike sales in the Greater Nashville area represent 34 percent of the company’s total sales volume. Crye-Leike of Nashville, Inc. started operations in the Nashville metropolitan area in 1992.

Crye-Leike of Nashville, Inc. showed a percentage of growth in 2001 fourth quarter sales, up 3.2 percent in the fourth quarter from a year earlier. Sales volume in the fourth quarter totaled $243.78 million, up 3.2 percent and property sales totaled 1,718, up 5.2 percent from same-quarter results a year earlier.

Year-end sales volume in 2001 for Crye-Leike of Nashville, Inc. was $1.08 billion, 1 percent less from $1.09 billion through 2000. These figures represent 7,462 in property sales, with no significant change over comparable year-end results in 2000 at 7,489.

The month of December showed a local sales volume of $71.47 million, up 5.6 percent from last December, representing 534 units closed, a 12 percent increase from the same period in 2000.

The company attributes its steady growth to its aggressive expanded presence in the Greater Nashville market. In the past two years, Crye-Leike of Nashville has added or expanded five branch offices, growing to a

total of 20 branch offices in eight counties with over 800 sales associates. Those newest Crye-Leike offices that were expanded or added within the Greater Nashville area are located in Bellevue, Columbia,

Clarksville, Franklin – Cool Springs and Gallatin.

Crye-Leike of Nashville, Inc. has 21 branch and franchise offices in nine counties in Middle Tennessee: Davidson, Grundy, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties.

ABOUT CRYE-LEIKE.    Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation’s 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 55 branch and franchise offices located in 25 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia.

As a full service real estate company, 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 and builder resource services. As a member of the RELO International Relocation Network, its Relocation Services Division assists families, individuals and corporate groups relocating to virtually any community in the United States or abroad with comprehensive services.