Jul 212017
 

Luke Marvel is with Luke Marvel Broker in College Station, Texas. Last year he closed 202 transactions with a total sales volume of 42 million and managed 300 rental units. His average sales price was 207 thousand of which 30% were buyers and 70% were sellers. He has a 2 member sales team: 1 transaction manager and 1 team leader.

Luke Marvel is the team leader of the Marvel Team. He has been an agent for 6 years. In his best year, Luke sold 234 homes worth 48 million.

In this call, Luke talks about:

  • Selling 14 homes his first year
  • By his 5th year he was ranked the #1 Agent in America in units for Century 21
  • How he positioned himself to work with a few small investors who purchase one to two rental units per year
  • Specializing in the college student housing market
  • 50% of his business is working with investors who want to rent to students
  • 30% of his business is working with parents who want to purchase a property for their kids to live in while they attend college
  • How parents are offsetting college costs by owning the rental their kid’s live in
  • Why he uses simple proformas that explain the benefits of the investment without over complicating the financials and focusing on the projected cash-on-cash return
  • Teaming up with a developer to build a student housing master planned community called The Barracks
  • Starting a property management company with 10 employees to service student rentals and their unique 51 week terms
  • Where to find the investors
  • How to attract the students with on-campus and on-site events
  • Why millennials are willing to spend heavily on experiences … and using that concept in your marketing
  • Luke’s impressive personal portfolio of rental units and commercial properties
  • How Luke defines a good investment and why most investors don’t like it
  • Team dynamics, profit margins and more

2016 Stats:

  • 202 closings
  • 42 million sales volume
  • 2 member team:
    • 1 transaction manager
    • 1 team leader

Niche:

  • student housing
  • investors
  • builders
  • repeat & referrals
  • past clients
  • sphere of influence
 Posted by at 1:01 am