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.

Residential Mathematics

The real estate community double-counts the sale of a house in recognition that the buyer and seller are often represented by different agents and companies. The doubling reflects a system that rightfully acknowledges two sides to every transaction. However, instead of dividing the sales price of a property between the buyer’s agent/company and the seller’s agent/company to determine sales volume, both agents and companies get credit for the entire amount.

If a $100,000 house sells and one company is home to both the listing and selling agents, the company is credited with $200,000.

With this backdrop, the real world dollar total of houses sold is more like half the sales volume reported by companies and agents. Take 5 percent of that total to get a feel for what that translates into in terms of commission revenue, money that actually flows through firms and agents. The dollar volume thresholds for this year’s lists of top-selling agents remains $4 million and $8 million for team sellers.

Crye-Leike Realtors Sales Volume

2012 - $1.044 billion

2011 - $925.5 million

2010 - $897.2 million

2009 - $876.9 million

2008 - $900 million

2007 - $837.5 million

2006 - $704.9 million

 

 

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