Crye-Leike Realtors Breaks $1B Sales Mark in Arkansas

by George Waldon  on Monday, Apr. 22, 2013 12:00 am  

At top, Harold Crye, left, and Dick Leike founded Crye-Leike Realtors in Memphis in 1977. The regional firm entered the Arkansas market in February 1997 and has grown to become the largest residential realty firm in the state. Marcella Hagan, left inset, joined forces with George Faucette, right inset, at Coldwell Banker Harris McHaney & Faucette.

George Faucette, co-CEO of the firm, said the timing of the merger co-incides nicely with a strong rebound of residential sales.

“I don’t know if we’ll have a 30 percent sales increase in 2013 like we did last year, but I feel confident we’ll have a double-digit increase,” he said. “The addition of Marcella’s team is going to be tremendous for us. She has a cadre of experienced people as well as young talent.”

Hagan started Re/Max Real Estate Results of Bentonville in 1998 and sold the business in 2006. She formed Exclamation Realty in 2007 and franchised with Century 21 in 2008.

Hagan worked as corporate trainer with Century 21 for eight months in 2009 and relishes the opportunity to teach up-and-comers.

“That’s my passion,” she said. “I love training new agents. I love the field and the market.”

Faucette said average sales price of homes handled at his firm has increased from $164,000 in the first quarter 2012 to $195,000 during the first quarter of this year.

“At least for the first 90 days of the year, sales price is up handsomely,” he said.

“The upscale market is a lot stronger than it has been, and the sub-$150,000 market has become a seller’s market. We’re seeing a lot more activity.”

This year’s list of Largest Residential Real Estate Agencies contains 35 companies. The firms are headquartered in 18 cities spread across the state. 

Little Rock was home to seven companies, followed by Fayetteville with five.

Conway and Jonesboro each had three. Bentonville, Hot Springs and Rogers each had two.

Benton, Cabot, El Dorado, Fort Smith, Harrison, Hot Springs Village, Mountain Home, North Little Rock, Russellville, Searcy and Springdale each had one firm.



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