Okay i found the solution to my problem. I have posted the steps below in case anyone else is having this same issue.
Step 1: Login as an administrator (you can complete this step by clicking 'Enable custom paging' in the admin section under modules)
- Go to the admin section
- Click the System Settings link
- Search for and click on 'allow_custom_paging'
- set this value to true and Save.
Step 2: Enable custom paging for your module (ie leads, accounts, contacts)
- Go to the admin section
- Click on The 'Modules' Link
- Find the module you would like to enable custom paging for and click on it (i needed the 'Leads' module)
- Select the edit button
- Place a check mark in the box next to 'Custom Paging'
- Save
Step 3: Now that your module supports custom Paging you can finally change the amount of records your search results display.
- Go to the admin section
- Click on system settings
- Search for 'list_max_entries_per_page' and click on it
- change the value to your desired result (the default is 20)
- Save, and now your module will show the desired record set you specified.
Enjoy