RISMedia's Real Estate Magazine

JUN 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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by Keith Loria {Power Broker Perspectives} 58 June 2019 RISMedia's REAL ESTATE Harold Crye: A Model of Regional Leadership Harold Crye and Dick Leike joined forces in 1977 to start Crye- Leike REALTORS® (No. 8 in closed residen- tial transactions in RISMedia's 2019 Power Broker Report) in Memphis, Tenn. Over the last 40 years, they have grown the firm to one of the top in the nation, with more than 3,100 agents and 139 offices serving markets in Tennessee, Arkansas, Georgia and Mississippi. Here, Crye, the firm's president, explains how the firm has created a sustain- able success plan for the long term. What sets your firm apart most in the marketplace? HAROLD CRYE: As a ma- jor regional company, we have all the tools that agents need to be suc- cessful, but still have the family feel that agents desire. We have strong brand recognition, and we provide thousands of leads to our associates through our membership in Lead- ing Real Estate Companies of the World® and through our award-winning website. National Association of REALTORS® (NAR) surveys indicate that most buyers prefer a company that has all the services needed in the transaction, and Crye- Leike is a one-stop shop for all these services. We own a very successful mort- gage company, title compa- ny and insurance agency. We also have commercial sales and property man- agement. In these chang- ing times, our residential property management has been very successful. How did your market fare last year, and what factors contributed to this? HC: 2018 was a challeng- ing year. Sales in most of our markets were either flat or down, while compa- ny-wide sales volume was up just slightly at $6.5 bil- lion. A serious shortage of inventory, especially new houses, will continue to slow sales in 2019. Are you planning to grow your firm this year? HC: Crye-Leike has been growing for over 40 years and we will continue to grow in 2019. In addition to opening new offices in the Atlanta region (Bu- ford, Peachtree City, Doug- lasville, Lawrenceville, etc.), we're also opening two new offices in the Northwest Ar- kansas region (Fayetteville and Rogers). What are some of the big- gest challenges you're currently facing? HC: Not only is the industry in transition, but technol- ogy is quickly changing the way we operate. Therefore, our challenge is to transi- tion to the new world while making sure we don't move so fast that we lose great sales associates who are still operating a traditional model, but have great peo- ple skills and many happy past customers in their sphere of influence (SOI). What are the biggest op- portunities for increasing business right now? HC: Successful agents should be focused on working with builders who can provide them with houses to sell. These are mostly the small-volume builders who don't have their own salesforce. They should also be focused on their raving fans from their SOI. Many Crye-Leike agents are using our new CRM program, MoxiWorks, to maintain contact with their past customers. What do you look for in someone new coming into the company? HC: Energy and passion are great attributes, but I learned many years ago that you cannot always see what may be driving a per- son to achieve great suc- cess. Not all great agents look like they just came out of central casting. How are you preparing your salesforce to meet the expectations of to- day's consumer, especially first-time homebuyers and millennials? HC: We're now hiring many millennial sales associ- ates. Crye-Leike, through its real estate school, has access to millennials that are getting their real estate license. We've hired a so- cial media director and ad- ditional staff to help with training all our associates on the latest tech tools. VITALS: Crye-Leike REALTORS ® Years in business: 42 Size: 117 residential offices, 3,183 sales associates Regions served: Knoxville, Memphis, Nashville, Chaanooga, Tenn.; Lile Rock, NW Arkansas (Bentonville-Walmart country); Huntsville, Jackson, Miss.; Atlanta 2018 sales volume: $6.5 billion 2018 transactions: 30,550 www.crye-leike.com

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