Crye-Leike Expands Regional Operations into Little Rock, Arkansas

Memphis, Tenn. –¬† Crye-Leike, the nation’s 13th largest real estate company and the largest serving Tennessee and the Mid-South, has expanded regional operations into Little Rock, Arkansas, making it Crye-Leike’s fifth regional office, joining Memphis, Nashville, Chattanooga and Johnson City.

Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, posted near-record sales of $3 billion in 2001, generated by its network of 2,200 sales associates who handled 20,768 closings. Crye-Leike has 60 branch and franchise offices located in 28 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia.

“We see Little Rock as a growth market for the company, providing state of the art services to the market that are not readily available, ” said Harold E. Crye, chief executive officer. “Our strategic plan and goal is to be the market leader in Little Rock within the next three years by establishing six to seven offices in the metro area and recruiting over 300 sales associates.” Crye expects to secure branch office locations in Benton, Conway, Hot Springs, Maumelle and North Little Rock, “with Little Rock serving as the hub,” he says.

And Crye’s plan is not a pipe dream. In December 1997, he launched a comparable business plan in the Greater Chattanooga, Tenn. area, which has a similar sized market to Little Rock, and became the market leader in that area within three years. Today, Crye-Leike of Chattanooga, Inc. boasts more than tripling its sales volume¬† from $105.3 million to $322.79 million in the four years it has had a presence there. This 2001 year-end sales volume of $322.79 represents 2,690 in property sales.

According to Denver-Colo.-based REAL Trends, Inc., a leading provider of information and analysis for the residential real estate industry, its recent edition of REAL Trends 500 report does not disclose a dominant market leader in Central Arkansas among the publisher’s ranking of the nation’s top 500 real estate companies.

Crye-Leike’s new Little Rock regional office is located at 11300 Financial Centre Parkway, Suite 900, just one-half mile west of the I-430 and I-630 interchange, near Baptist Medical Center. Crye-Leike of Arkansas, Inc. in Little Rock is expected to open for business by June 14, 2002. Its 4,509 sq. ft. office facilities will accommodate up to 35 sales associates.

Crye-Leike currently has a branch office in Jonesboro and West Memphis, Ark. and a franchise office in Blytheville. The company opened its first Arkansas office in West Memphis in February 1997

Its Jonesboro office was established in December 1999, acquiring White Realty. Crye-Leike’s Blytheville franchise, Crye*Leike Missco Realty, was established in July 2000.

Along with the convenience of being open seven days a week for its customers, Crye intends to offer a myriad of services like those offered in the company’s other regional markets. “Our first priority will be to

initiate Crye-Leike’s fully automated and staffed appointment center,” said Crye. This service is expected to be operational within the next few weeks.

The appointment center allows Crye-Leike to capture every potential showing. “We are equipped to handle receiving a sales call from any real estate agent in the area who wants to show a Crye-Leike property and are able to coordinate those showings for the agent from 8 a.m. until 8 p.m. each day of the week.”

Another state of the art service that Crye plans to roll out in the Greater Little Rock area is Crye-Leike Home Services, a complimentary concierge service for Crye-Leike customers that offers access to a network of discounted home and family related services and provides its home buyers and sellers personalized service, convenience and savings for all of the activities and transactions associated with home purchases, sales and homeownership.

“Crye-Leike Home Services is Crye-Leike’s newest business model that combines the power of the Internet with personalized service,” said C.F. Moore, director of Crye-Leike Home Services. “We plan to initiate Crye-Leike Home Services by the first quarter of 2003.”

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; auction services; apartment locator services; franchise sales and builder resource services.

Little Rock is the capital and largest city of Arkansas with a metropolitan area population of 565,190. The city is approximately 130 miles west of Memphis, Tenn. where Crye-Leike’s company headquarters is located.

 

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