Though the term is fashionable these days around the water cooler when co-workers share their streaming preferences, “land man” is not a moniker with which Gar Lile identifies.
Lile thinks of himself and his team at Little Rock’s Lile Real Estate more as investment advisors who deal in tracts of land as opposed to shares of stock.
Gar Lile
“My love and enjoyment of land began with working on farms growing up and through college, but my intrigue with land as a dual investment and recreational vehicle began with investment courses in college and post college, quantifying timber stands while working for a consulting forester, to real property valuations as a state certified general appraiser. I feel like the other members of our firm and I are more of investment advisors and stewards of the land for our clients.”
Since founding Lile Real Estate in 1993, the Pine Bluff native said he has experienced all the highs and lows of business cycles. Mostly, there have been highs. Over the past five years, the firm surpassed $500 million in sales. The firm employs 10, including Lile’s oldest son, Gardner, and has opened additional offices in Monticello, Camden and Oxford, Mississippi.
Gardner Lile
“I have been very blessed to have an incredible group of people that have assembled to focus on our growth and client performance,” Gar said. “I’m highly biased, but I believe our firm members are the most highly educated, trained and experienced in Arkansas.
Gar is president and principal broker at the firm. In addition to Gardner and Brandon Stafford, each a principal and executive broker, the team includes sales associates Jeryl Jones, Jim Benham, Trey Morris and Robert Moery; associate brokers Matt Stone and David Stone; and office administrator/property manager Sindy Cruthis.
“All our advisors are college graduates, several with postgraduate studies in specific fields of our industry and post-college real estate training, and we have more Realtor Land Institute-accredited land consultants than any other firm in the state,” Gar said. “Of our eight advisor/brokers, our total industry years of experience is over 170 years, and Sindy has been with the firm for 28 years.”
Gar said his clients invest for returns — both tangible and otherwise.
“Agricultural grain, row-crop farms and timberland have proven for decades to be excellent investments and a safe-harbor stable vehicle for long-term conservative asset placement,” he said. “Many of these properties also serve as a dual-investment vehicle in that you have the income that is derived from the annual crop production, but in many cases, the owners utilize the property for recreational activities, receiving a personal return with family, friends or business relationships — or an additional income stream can be created through leasing these rights out to third parties.”
Gar, who grew up farming, hunting and fishing in Pine Bluff, said Arkansas is a good place to invest in land, and not just in the agricultural Delta, where farmland stretches to the horizon and potential buyers eye land that attracts wintering waterfowl.
“Our state also holds vast areas within the Ouachita and Ozark mountain regions that provide timberland investment opportunities,” he said. “These generally also support recreational use with magnificent clear mountain creeks and rivers. These areas also appeal to a wide range of people seeking a getaway or ‘off-grid’ environment. At certain times, our
political or economic environments can really escalate demand for these areas.”
Gar said doing the necessary prep work leads to connecting investors and families with the right property that meets their goals and objectives. Meeting clients’ expectations can be challenging, he added.
“We really try to look for the pitfalls and prepare for those,” he said. “There are many issues that can arise without research, such as survey lines problems, access, easements, etc. It’s very important for buyers and sellers to be well informed and represented by knowledgeable and experienced advisors.”
Gardner joined the firm in 2014 after graduating from the University of Arkansas in Fayetteville. While a student, he interned for the northwest Arkansas office of Colliers International and earned his real estate license. Gar said his older son chose the family business “despite me encouraging different directions.”
Gar Lile said land will always represent a valuable asset. (Photos courtesy of Lile Real Estate)
“That was a big asset,” Gar said. “Gardner not only grew up following along in this business; he developed a strong desire during college to pursue it as a career and came in with a real head start. Gardner’s influence on our firm has been unexcelled, and his leadership for me and the rest of our firm has brought us tremendous growth and management efficiencies. It has made me very proud to see him develop in his role. He has become the leader that we all look to.”
Gardner said his interest in joining the firm was hatched in high school, but he always loved the outdoors. After all, he and younger brother, Garrett, grew up hunting with their father and joining him on land-development projects. Gardner knew, though, that he would need to pay his dues before joining the family business.
“Gar told me going into college that I could not have the chance to come in with the firm until I worked somewhere else for a few years,” he said. “Whether it was by design or not, I do not know, but that pushed me to work hard in college. I interned with Colliers International in their Bentonville office, and just before starting my senior year, Gar said that I would be able to join the firm after graduation, which was a pleasant surprise. It has been a great 10 years. It has been a blessing that has only strengthened a strong relationship, but it does require patience on both sides, as we spend a lot of time together between work and family time.”
Gar’s work time is split evenly between the office and the field, and much of that office time is spent on the family farm near Swan Lake in Jefferson County. He said land will always represent a valuable asset.
“A lot of people love it as an investment vehicle,” he said. “It’s a stable boat in the storm.”
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