Crye-Leike Acquires Neilson Group Realtors

Memphis, Tenn. –  Crye-Leike, Realtors, the largest real estate company in Tennessee and the Mid-South, has acquired Neilson Group, Realtors in Memphis, Tenn., a respected Midtown real estate firm that generated $48 million in sales last year, announced Harold E. Crye, chief executive officer.

The firm was purchased for an undisclosed amount from Don Neilson, principal broker and owner, who will join Crye-Leike, Realtors as an active member of its sales force.

Crye-Leike, Realtors closed Neilson Group, Realtors, which was located at 1296 Peabody Avenue, and consolidated operations into Crye-Leike’s Midtown branch office, located at 2220 Union Avenue. Crye-Leike’s Midtown branch office now has a combined sales force of over 70 associates.

Crye noted that there were two dynamics about the Neilson Group that led to Crye-Leike’s purchase of the firm. “The Neilson Group’s traditionally strong marketing performance in the Midtown real estate marketplace, coupled with its top producing sales team who grew the firm’s sales quickly over a short period of time since its establishment in March 1999, were the two key factors that led to the purchase,” said Crye.

“It seemed like a wise business decision to consolidate our efforts,” said Neilson. “With all the technological advances in the real estate industry, such as virtual home tours and an Internet-based multiple listing service, it would be difficult, if not impossible, for a small brokerage firm like mine to provide that level of service.”

Neilson continued to say that it was his desire to provide his clients with the best possible service through the latest technological innovations available today. “I knew Crye-Leike was always the company that set the new industry standard in our market,” said Neilson. “It just made good business sense to join forces.”

Bill Malone named managing broker of Crye-Leike – Midtown.        With the reorganization of Crye-Leike’s Midtown branch office, Crye named Crye-Leike broker Bill Malone as managing broker of its Midtown branch.

Malone has been selling residential and commercial properties in Memphis and Shelby County for the past 17 years, specializing in East Memphis and Midtown Memphis relocation, investment and foreclosure properties. Affiliated with Crye-Leike since August 2000, Malone is a member of Crye-Leike’s Multi-Million Dollar Club. He also is a member of the Memphis Area Association of Realtors’ Multi-Million Dollar Club which recognizes his sales achievements of $2.5 million annually.

Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation’s 13th largest real estate company with a network of over 2,200 sales associates and 59 branch and franchise offices located in 27 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia. Crye-Leike, Inc. in Memphis has a sales force of over 1,100 sales associates who are located in 23 branch and franchise offices in eight counties throughout a three-state Mid-South region, Tennessee, Arkansas and Mississippi.

 

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