Crye-Leike is a well established real estate brokerage headquartered in Memphis, TN. In business for over 30 years, Crye-Leike has built a reputation for good service and high sales volume. In this guide, we’re looking at the pros and cons of their business model, and some other alternatives to consider.
Crye-Leike, a traditional, full-service real estate brokerage, offers a personalized listing service and takes care of all of the significant components of selling a home, including pricing strategy and marketing plan.
Although hiring a full-service realtor can take the stress out of selling your home, some sellers find the average listing commission of 6% hard to stomach.
Luckily, the current real estate industry has more home selling options for homeowners. It’s crucial to explore all choices to ensure that you find the right one for you, whether this means using a traditional real estate agent, a discount realtor, or sell directly to an iBuyer.
In the meantime, here’s what you need to know about Crye-Leike and its agents.
What is Crye-Leike?
Crye-Leike is a full-service real estate company that was established in 1977, in Memphis,TN. It is currently the largest real estate company in Tennessee, Arkansas, Georgia, and Mississippi, with more than 130 branches and 3,200 sales associates. Crye-Leike also serves Alabama, Florida, Kentucky, Missouri, and Oklahoma.
well-established and reputable brokerage, Crye-Leike boasted a sales volume of $6,500,000,000 in 2018 — but it’s not only the real estate industry that they focus on.
They also have a commercial real estate and auction division, offer mortgage, warranty, insurance, property management, title, and closing services, and operate a real estate school.
On their website, Crye-Leike states that they offer clients exceptional service and a reputation that is synonymous with Southern Hospitality. They have also been ranked #3 of the top 500independently owned real estate companies by the annual REAL Trends report.
What services does Crye-Leike offer?
Crye-Leike is a full-service brokerage that facilitates the sale and purchase of real estate. This includes all of the services you would expect from a traditional real estate brokerage, including marketing the property, coordinating home tours, negotiating with buyers, and managing the sales contracts.
Crye-Leike states on their website that they have an extensive referral system, which spans over 65 countries and 4000 companies. They also offer clients a 24-hour recorded property information line to make it easy for potential buyers to source information on listings they see.
How much does Crye-Leike charge?
As a traditional real estate broker, you can expect to pay 6% of your home's total sale price in commission when working with Crye-Leike. This is the average real estate commissioncharged across the U.S. by a traditional, full-service real estate agent.
Typically the commission is shared between the listing agent’s brokerage and the buyer’s agent brokerage.
It’s important to remember that Crye-Leike’s real estate agents are independent contractors, therefore their commission rate may vary significantly between the agent and the market that they serve.
Clever has prenegotiated lower commissions with top agents near you.
Pros of Crye-Leike
- Established Reputation: Crye-Leike has been in business for over 30 years and has a successful sales reputation. The company facilitated the sale of over 30,000 homes last year alone.
- Full-service Brokerage: Crye-Leike’s real estate agents offer a full-service listing experience, including marketing, negotiating and handling the sales contracts.
- Additional Services: Crye-Leike also has a financing and title company.
Cons of Cry-Leike
- Limited Service Area: Crye-Leike currently only serves nine states in the U.S.
- Full Service and Full Price: Crye-Leike is a traditional real estate brokerage; therefore, sellers should expect to pay around 6% in commission fees.
There are limited reviews available online specifically for Crye-Leike’s Real Estate company; however, it does have an A+ rating by the Better Business Bureau.
It is important to note that Crye-Leike employs agents as independent contractors; therefore, reviews may be directed at the agent and not necessarily the company as a whole.
Work With a High-Quality Agent and Save
Clever Real Estate connects top-producing real estate agents with sellers to ensure that their home sells for the optimal price while saving thousands in commissions.
Clever Partner Agents are sourced from some of the most successful real estate brokerages in the U.S. with reputations as stellar as Crye-Leike. These agents are carefully vetted to ensure that their sales volume and work experience are at the highest possible level.
Each Clever Partner Agent has already agreed to offer the same personalized service you expect from a traditional real estate agent, for a discounted commission rate of $3,000 or 1% if your home sells over $350,000. This can save you up to 50% in commissions.