Hello, again.
I am the same user who posted as PremierTimeshareResale w/ RE/MAX. I do not frequent forums so I am the first to admit I new to this arena. I tried to log in with my Member Login and could not. I thought I had to create a new account for the BBS so I did in lieu of "registering". I thought it was a good idea, not for commercial solicitation purposes but for establishing myself as someone who is a trained and licensed specialist in the resale industry. I apologize for registering incorrectly. I see why it was a problem. Now, I believe I am registered correctly. So, Denise, as moderator, can you please confirm that although we can not advertise here, we can post links to our personal business websites? I thought it would be forbidden but I would love to do that as well.
I guess I should have started like this... The information below is for establishing myself as a credible, knowledgeable source of information, not for soliciting business.
I am a college-degreed, licensed real estate agent in the state of Utah. I am also the co-owner of a successful timeshare resale business in light of an unfavorable economy. I am also a member of the Park City Board of Realtors, UAR, NAR, have an "A" rating with the BBB and I am a charter member of the Licensed Timeshare Resale Broker Association. I am also a member of TUG and Brian the Administrator of TUG and our group are working together to educate the consumer and get litigation passed to protect consumers from timeshare scams. LTRBA is “....a nationwide body of licensed real estate professionals, dedicated to timeshare consumer protection and education, while also offering professional representation for timeshare buyers and sellers, with no upfront fees. Adhering to the Local, State, and Federal Laws governing our industry is the hallmark of our commitment.”
I have sold over 30 Park City Marriott's in 2011 for over $15K. A fellow agent in the Salt Lake area also sold a large number in 2011 all for over $15K.
My motivation for posting was not in fear of collapsing prices. Although not my motivation, I definitely do feel some fear and sympathy for owner's who bought at retail value, get scammed by upfront fee companies, phony legal services, and every other unethical scam artist under the sun all because they simply need to sell their timeshare. My motivation for posting is because a buyer contacted me two days ago offering my sellers a very low price and defending the offer with a link to this thread as a comparable. I don't blame him for wanting to negotiate a great deal and doing thorough research is commendable. However, as much as I'd like to make a sale, my sellers do not want to accept low "fire sale" type offers and I can't ethically advise them that it is a true representation of the market. Will it be in the future? Possibly. However, it is not right now. Therefore, my motivation to post was to let Seller's know that they do not have to accept these "special cases" as market value. Sellers can definitely get more for their timeshare. I can prove they did at least 30 times in the last year.
Marriott informed our group at a meeting two months ago that they are starting to exercise at some properties and will be exercising at more in the near future. Marriott is currently offering resales with reward points through members of our LTRBA group. Annual Platinum weeks with points in Park City are $24,900. Marriott has set the prices. I would venture to guess that if they bid at foreclosure to at least 17K and are offering owner resales at $24900 then they would presumably exercise at those prices or higher. Otherwise, I can not understand why they bid so much on the foreclosures. We all know that aside from supply and demand, Marriott inevitably has the ability to control the market with ROFR.
Westin has already exercised their ROFR on 3 of our Westin Kaanapali sales the past 3 months. Our buyer keeps offering more and they keep exercising on each one.
These brand name properties have reputations to uphold and retaining the value of a product attached to their name is in their best interests. The economy has hurt them as well but you can be sure when they can they will start protecting values again.
I don't expect to make buyers looking for that "special fire sale" very happy with the information I provided. However, it is the truth and if they become owners, like mtnpilot, then they will also appreciate someone bringing awareness to sellers that helps retain the value of their product.
My intent is not to misrepresent facts or offend. I was not attempting to impugn Mtnpilot in my last post. I was simply using his case as an example since it was the topic of discussion. I appreciate Mtnpilot's comments and appreciation for my input. I apologize to mtnpilot and to anyone who was offended on mtnpilot's behalf if it seemed otherwise. My congratulations to mtnpilot are sincere. I know the amount of work it takes and due diligence one must have in purchasing a timeshare directly from an owner. We actually had to help someone get out of an Ebay sale 5 years ago because they advertised a "Ski week" and my client tried to buy it. He later learned afterwards that it was a Silver and not a Platinum. However, since April is still "ski season" for many Utah resorts, advertising it as ski season was not completely incorrect. Technically, however it was deeded week 15, which is a Silver season, The seller claimed their salesperson told them they could ski with it. I believe they did because they could... in mid-April. We were able to unwind the sale and get the client into a real Platinum ski week and eventually even sell the silver for the seller. It is not uncommon but instead fairly common that sellers do not know what they really own. We have issues all the time with people thinking they own a fixed, sundance, presidents or spring break week at Park City properties. Therefore, from my experience someone who buys on Ebay needs to be very diligent and thorough. I have admiration for sellers who advertise and sell on their own. I simply help the ones who can't or don't want to do it themselves.
One final question, (please excuse my lack of knowledge of forums) but why was it an issue that I replied to a post from September? It would seem that if a buyer sent it to me two days ago as a comp then it is still being searched and read regularly. Is it not? Additionally, I was actually surprised by the amount of discussion it spurred within just one day. It's obviously a hot topic. Is that what determines a "stickie"?
Thanks again for your time. Happy 2012!
