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Want to sell Westin Princeville TS. Looking for LTRBA broker recommendation.

Kevin Koithan

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Hi everyone,

I want to sell my Vistana Westin Princeville Timeshare. After doing some research, it seems that getting a LTRBA broker to help sell it seems like a good choice. Does anyone have a recommendation on a particular broker? One broker asked for a $2000 fee, which seems a bit high. Any advice would be appreciated.

Regards,
Kevin
 

vacationtime1

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Hi everyone,

I want to sell my Vistana Westin Princeville Timeshare. After doing some research, it seems that getting a LTRBA broker to help sell it seems like a good choice. Does anyone have a recommendation on a particular broker? One broker asked for a $2000 fee, which seems a bit high. Any advice would be appreciated.

Regards,
Kevin

A $2,000 brokers' commission for selling a timeshare is not excessive. But it should be paid from the sale escrow, never upfront.

I would contact Syed Sarmad of Advantage Vacations on Maui; I have done multiple transactions with him.
 

Kevin Koithan

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Robert,

Thanks for your timely advice. I have contacted Syed Sarmad and hope to use him to help with my Westin Princeville Timeshare sale.

Regards,
Kevin
 

TUGBrian

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if a broker claiming to be an LTRBA member asked for $2000 up front, you should report them to the LTRBA immediately. all legitimate licenced brokers work on commission only.
 

Kevin Koithan

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They didn't ask for the $2000 up front. They said that is what they would charge after the sale. Sorry for the confusion.
 

TUGBrian

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ah ok...understood.
 

1Kflyerguy

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Just out of curiosity, as i not yet sold a timeshare.. Do most of brokers work on percent basis or charge a flat fee to market and sell the unit?
 

WalnutBaron

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When we sold our WPORV unit a few years ago, our broker worked on a flat fee basis. His fee at the time was $1600. He did a good job and the unit was sold in about two months.
 

dioxide45

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Just out of curiosity, as i not yet sold a timeshare.. Do most of brokers work on percent basis or charge a flat fee to market and sell the unit?
If the value of the timeshare is high enough, they may work on a percentage, but if it is a fairly low value timeshare, then they probably want a flat fee. Some may charge a percentage with a set minimum commission.
 

1Kflyerguy

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Thanks all, that makes sense!
 

Jon R

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Hi Kevin Koithan -
Have you had any success selling your Westin Princeville share?
We have one as well and are looking to sell. I spoke with Sellmytimesharenow but after reading negative reviews, have moved away from them.
Would appreciate your insight. Thanks, Jon
 

DeniseM

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I recommend Syed Sarmad of Advantage Vacations, too - honest and knowledgeable. He is a TUG member and contributes great info. to TUG.

However, please be aware that unfortunately, WPORV doesn't have a high resale value, and any sales person that tells you otherwise is misleading you to get an upfront fee.
 

Jon R

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Thanks Denise. I'm trying to understand why WPORV has a low resale value...I mean, it's beautiful Princeville, Kauai... is it something more to do with it being a Westin?

Also, what about trying to list it privately like on Craigslist? Any thoughts on that?
 

DeniseM

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[Added later - I agree that this is a beautiful resort, and Kauai is my favorite island, but on the resale market, it doesn't do as well as Maui:]

1) It is a voluntary resort - the new buyer doesn't get the Staroptions (and no resales get Starpoints)
2) It is on Kauai - which is not nearly as popular as Maui
3) It is not on the beach
4) It has no deeded views

I would not use Craigslist to sell a quality timeshare - too many scammers and clueless people there.

I would post Ads on TUG and Redweek, and then use LT Transfers for a professional title transfer.

However, as a professional, Syed may be able to get more for it than you can, and he will walk you through the whole process.
 
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Kevin Koithan

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Hi Kevin Koithan -
Have you had any success selling your Westin Princeville share?
We have one as well and are looking to sell. I spoke with Sellmytimesharenow but after reading negative reviews, have moved away from them.
Would appreciate your insight. Thanks, Jon

I just got a pending offer yesterday
 

Jon R

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That's great news. I think we have similar shares (2br lock off, biennial, even year). Would you mind telling the offer price?
 

DavidnRobin

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If this is for an EY WPORV - VSE may use their ROFR at $4500. At least according to recent reports.
Let us know how it went - good luck. That is quite a loss as EY WPORV sold for $48-56K.
The main issue is that it is a Voluntary resort - if it were Mandatory, it would have significantly higher resale value.
 

Jon R

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If this is for an EY WPORV - VSE may use their ROFR at $4500. At least according to recent reports.
Let us know how it went - good luck. That is quite a loss as EY WPORV sold for $48-56K.
The main issue is that it is a Voluntary resort - if it were Mandatory, it would have significantly higher resale value.

Sorry David, I'm a bit of a newbie to the forum. Could you please explain all the acronyms...VSE? ROFR? Thanks.
 

DavidnRobin

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Sorry David, I'm a bit of a newbie to the forum. Could you please explain all the acronyms...VSE? ROFR? Thanks.

Please feel free to join us on the VSE forum.
http://tugbbs.com/forums/index.php?forums/vistana-signature-experiences-formerly-starwood.51/

VSE = Vistana Signature Experiences (formerly Starwood Vacation Ownership) has Westin Vacation Club and Sheraton Vacation Clubs.

ROFR - Right of First Refusal - meaning option for Developer (like VSE) to purchase upon resale.
 

DeniseM

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EY = every year = you have usage of your timeshare every year

EOY = every other year = you have usage every other year.

VSE = Vistana Signature Experiences = the management Co. that bought out Starwood

ROFR = right of first refusal =Vistana can buy your timeshare at the price your buyer agreed to, if they want to. Buyer won't be happy, but you get paid.
 

Jon R

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Gotcha, thanks all. Does anyone have a sense of how often VSE triggers that right?
 

DavidnRobin

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Hi @DeniseM
I removed my 'We are SF' from photo - and we won a game!
ps. I retired 2 weeks ago... woohoo!

@Jon R - there is an acronym list in VSE forum stickies - Owner Resources
http://tugbbs.com/forums/index.php?...-acronyms-resorts-etc-updated-12-23-07.60852/

@Syed may have best idea of ROFR - I hear that the WPORV ROFR has been increasing, but I could be biased since I own there. I bought (from SVO!) knowing I would lose upon resale, but that is not issue if not sold. We love WPORV, but I reserve exactly 12 months out - I almost bought a specific fixed week-fixed villa there, but missed it. Only the HH sections of WPORV could be sold as a separate view category.
 
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DeniseM

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You should talk to Syed - he is very knowledgeable about ROFR. But honestly, it doesn't make much difference, because the seller gets paid either way.
 
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DeniseM

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Sigh.... The Giants.... Only bright spot right now is Arroyo.
 
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