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Was wondering if anyone ever tried using the Marriott Resales Dept. to try to sell back their Marriott Timeshare. Is it a ripoff? Am I better off trying to sell it myself on TUG Marketplace or Craiglist?
No rip off. You do not sell back to Marriott, they broker the deal. In general, even after 40% commission, you still get more money by selling through their resales department as opposed to selling it yourself.
Ditto. We used them to sell our Kauai Beach Club unit. Easy peasy, no fuss, no muss. They do take 40% but it was worth it for us. Some properties they have buyers for and others you have to go on a list (Grande Vista). They don't deal with Grand Chateau; I think it's a legal thing in Nevada where a developer can't also be a reseller.
It also depends on what you own. I own a platinum Harbour Lake annual and I ask about every 3 months for the last year+ and have been told I could give it back to them for free or sell it myself. They won't even put me on a wait list. I am on an email list that they will send out to let me know if they are opening up the wait list to additional owners.
If you can get on the list and if they sell it for you, you will likely make more than if you sold it yourself even with the 40%.
Although most of their resales are brokered sales to third parties, Marriott Resales do also sometimes buy back weeks directly for the trust. I sold them a Sabal Palms week that way a few years ago and another family member did the same thing a couple years ago.
My parents just attended an MVC presentation during their Orlando stay and inquired about whether Marriott does buy-backs of deeded owner weeks, specifically Marbella, Spain and St Thomas USVI, where each of us own deeded weeks. They were told Marriott is not interested in buying any deeded weeks back, but they would be happy to take the week back “for free.” Basically, they said if you want to sell, you are on your own.
I had Marriott Resales sell my Monarch Crown Suite about 15 years ago. It was great. They sold it in less than 60 days. They got top dollar for it and the transaction went very smooth. I also used them to sell my Sabal Palms Week about 20 years ago. Got top dollar here too. This one took 3 years to sell but they rented it for me in the interim which more than covered my MFs. When I sold these their commission was only 20%. At 40% I'd have to think twice about using them but would probably cave and use them anyway.
It also depends on what you own. I own a platinum Harbour Lake annual and I ask about every 3 months for the last year+ and have been told I could give it back to them for free or sell it myself. They won't even put me on a wait list. I am on an email list that they will send out to let me know if they are opening up the wait list to additional owners.
If you can get on the list and if they sell it for you, you will likely make more than if you sold it yourself even with the 40%.
I just sold two on my own but the second failed ROFR. There were 177 people on the wait list and I wasn't waiting that long. The first passed ROFR and the sale went through. The second failed at $1,750 (me paying all fees). I was surprised it failed ROFR and now Marriott pays me the $1,750 and I don't have to pay for closing. That price is obviously low but I had no intention of waiting around trying to rent out weeks in Orlando.
My parents just attended an MVC presentation during their Orlando stay and inquired about whether Marriott does buy-backs of deeded owner weeks, specifically Marbella, Spain and St Thomas USVI, where each of us own deeded weeks. They were told Marriott is not interested in buying any deeded weeks back, but they would be happy to take the week back “for free.” Basically, they said if you want to sell, you are on your own.
Marriott does not broker international weeks I don't think and not even every state in the US. When they broker a resale they are legally the licensed real estate agent and then they officially farm out the closings to individuals. The ones they do broker in they only take a few listings at a time and some of those move painfully slow. There are some unit types that will only move through resales at 1 unit every couple years. Others move faster but in either case it is a big crapshoot.
I have sold the same Barony Silver week through Marriott twice. The first time the buyers backed out and lost their deposit, which was split between Marriott and us. Immediately afterwards they notified me that they had another buyer for the week. We’re waiting for the closing. Even though they take 40% they do all the work making it easy for us.
That is definitely not true but could possibly be on a random specific day. There are almost always certain weeks out there that they have on their want list to add to the trust.
I used them for 9 weeks and they sold all of them. Some were sold in 2-3 days and some took 2 years. But all sold at a better price then ebay, TUG or brokers.
Keep in mind that there are two completely separate things here handled by the same department. One is a brokered resale where Marriott is the real estate agent with the buyer and seller normal individuals. The other is a direct repurchase. This is completely different because in this case Marriott is buying the unit to be added to the trust for DC points purchase and usage. The motives are completely different. The result might go hand in hand but not always.
Thanks everyone for the great information! I did follow up with them and as noted above was told I would be put on a waiting list as they had plenty of inventory for the Grande Vista. Was interesting to hear my net return after the 40% would be better than selling it on my own. Will see how long I have to wait and will post a few ads elsewhere. I am not under pressure to unload it.
I've been on the Grand Vista list for a year. Don't forget; you need to contact them next year to renew your listing. If you don't, I'm pretty sure they assume you don't want to sell it anymore and take you off the list.
I've been on the Grand Vista list for a year. Don't forget; you need to contact them next year to renew your listing. If you don't, I'm pretty sure they assume you don't want to sell it anymore and take you off the list.
I've been on the Grand Vista list for a year. Don't forget; you need to contact them next year to renew your listing. If you don't, I'm pretty sure they assume you don't want to sell it anymore and take you off the list.
I am convinced that even though they may have a list, they do not actually use it.
The issue with the listing agreement is not just the 1 year expiration. The problem is also usage. Once they start writing writing purchase contracts with the next usage year they need the ok from the seller since the first use year is specifically stated in the listing agreement. This could be a mere month from the signing of the listing agreement. They almost always send an informal email to see if moving to the next use year is ok.
That link didn't seem to work on my browser, so for the benefit of the OP in case it's not just an issue on my end, here is the direct link to Marriott resales:
While no garden view silver or bronze weeks are listed, there is a silver ocean side at $4400, so the silver garden view would be less than that, probably under $4000. Since Marriott takes a 40% commission, that would mean your net proceeds on a silver garden view would probably be $2000 to $2300 or so. The bronze week would be less, if Marriott even takes bronze weeks to resell.
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