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% of resale owners

Discussion in 'Vistana Signature Experiences (formerly Starwood)' started by DannyTS, Oct 22, 2018.

  1. DannyTS

    DannyTS TUG Member

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    we are currently at Lagunamar and we are having a great time.
    Discussing with other owners i am surprised to see how many people do not know about the resale option.
    I am curious, does anybody know the proportion of resale owners?
     
  2. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Probably someone in the county recorders' office or in the resort developers' back office. Unless there is a search to see how many weeks have been titled more than once since they were in the developer's name, how would anyone know?
     
    TravelTime likes this.
  3. vacationtime1

    vacationtime1 TUG Member

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    Obviously it varies resort by resort, but the developer would know if it is still involved in managing the HOA (although it probably won't tell and I'm not sure I would believe its answer anyway).

    The HOA will know, but if it is controlled by the developer the answer would be suspect.

    But why is it significant?
     
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  4. DannyTS

    DannyTS TUG Member

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    just curiosity. the price difference is so wide it is surprising that not more people know about redweek, tug and so on. I was not expecting precise numbers rather an estimate
     
  5. breezez

    breezez TUG Member

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    First off I’m not a Vistana owner. But living only an hour from Orlando I do stay on short stay exchanges at times at various locations in the area including the Vistana Resorts.

    I always hang out for about 45 minutes or more each day at the hot tub and as soon as you get on the conversation how many points, options, weeks etc people will really get mad when they find out what I have paid. They never see it as a positive they could add more for reduced rates, but rather angry, or feeling sick about how much they paid.

    I tell everyone about Tug and encourage them to learn their system.

    As far as why do people pay more for developer units. Most don't know any better, but others will buy even after you tell them because they perceive it must be better if they sold it to me for more by them!

    I saw this thing on TV the other day where they were allowing people to try two energy drinks they were using the same drink but calling it 2 different products, all ingredients the same, but higher priced one out sold lower price drink by a heft margin. Go figure!
     
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  6. CalGalTraveler

    CalGalTraveler TUG Member

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    I suspect that many people have heard of timeshare resales but don't know the specifics of Tug or Redweek. They have heard that there are scammers (horror stories), and know that it is complicated. We had heard of resales but were afraid of being scammed and did not know if we would like it so opted for developer for our first purchase to get our feet wet. Fortunately we purchased a decent property in a good system (HGVC).
     
    Last edited: Oct 22, 2018
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  7. TravelTime

    TravelTime TUG Member

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    I would guess that once people have bought through developers, if you tell them about resale, they will be majorly pissed off, and justifiebly so. They were ripped off! However, I do not think this will lead them to resale if it is too late to rescind. I suspect they will end up being turned off about timeshares and feel screwed yet be be happy with the extra benefits they get as a direct owner. I suspect it is it better not to talk to people about about how you acquired your timeshares and how much you paid. It is like bragging. I do not think we should judge people either way.
     
    Last edited: Oct 23, 2018
  8. CalGalTraveler

    CalGalTraveler TUG Member

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    In several systems, resale units are shrinking because the developer is buying back units to put into trust point portfolios. The notion of buying a resale week at a specific resort may become a thing of the past. However this transition will take a long time.

    With that said, the older the resort the higher % resales. Many who purchased newer resorts financed the developer purchase so cannot sell for up to 10 years until the mortgage is paid off. They will eventually tire of the destination, tire of the MF, or have a life event and need to sell.
     
    Last edited: Oct 22, 2018
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  9. PamMo

    PamMo Tug Review Crew: Rookie TUG Member

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    I don't think it's surprising at all to meet more retail vs resale buyers at resorts. Developers have invested billions of dollars in building and marketing timeshares. You won't be pulled into a resale timeshare sales presentation while walking the streets of popular vacation towns. I'd be willing to wager most retail owners bought from a very persuasive sales person on a "90-minute tour." I never even knew what a timeshare was before being enticed by someone in Las Vegas offering free meals and shows to eight of us vacationing there. (We didn't buy.) The money spent on marketing resale timeshares is puny compared to the developers' budgets.
     
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  10. alexadeparis

    alexadeparis TUG Review Crew: Rookie TUG Member

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    I have come around to this way of thinking as well. I used to try to educate people I encountered in the resorts if the topic rolled around to purchasing/ ownership. I was met with such vitriol on occasion, that now I just keep my mouth shut or say I inherited it to move the topic along. The retail purchaser tends to believe that somehow I, as a resale owner, am gaming the system.
     
  11. celica7101

    celica7101 TUG Member

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    Really? Gaming the system?? How?


    Sent from my iPad using Tapatalk
     
  12. amycurl

    amycurl TUG Member

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    Cognitive dissonance is a real thing, folks. Rather than talking about resale, I just point them to TUG and let them learn about it on their own.
     
  13. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    I suspect the percentage of resale owners is quite low, perhaps lower than 5% overall. Older resorts will have a higher percentage of course but with companies like Vistana and Marriott taking back weeks, those percentages will probably hold pretty steady. Most people I talk to don't know about resale and I don't usually bring it up for the reasons mentioned above. Though my wife is always quick to blurt out "we paid $22 for our week, bet you paid more than that!". Sometimes it goes over well, sometimes not so much.

    The developer, in this case Vistana, is likely to know the percentage of resale ownership vs developer. I doubt the HOA knows. They may just maintain a list of existing owners. THough in the case of Vistana and Marriott, they are leaving all that record keeping up to the management company anyway. So even if you were to ask, you probably wouldn't get an answer.
     
  14. carpie99

    carpie99 TUG Member

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    I talked to a 10 year owner yesterday here at Lagunamar ... he owns 9 weeks all bought from developer and had no idea what a resale was
     
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  15. TravelTime

    TravelTime TUG Member

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    Ha, ha. Did he buy them or his parents?
     
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  16. carpie99

    carpie99 TUG Member

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    All his purchases
     
  17. DannyTS

    DannyTS TUG Member

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    i also talked Yesterday with a retail owner. He was so interested in the resale ownership that he started to take notes about Redweek, Tug Bbs. His son has kids now so they need more but they were reluctant of adding from the developer because it is expensive.
     
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  18. pacman777

    pacman777 TUG Member

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    It’s a catch 22. Should we give away our secrets and benefits of resales or keep mum about it because after all we need uninformed people to buy from the developers to even have a steeply discounted resale market. Also does this increase prices on the resale market as more people find out about this option. I know it has for certain popular resorts like Lagunamar and WKV and this is just Vistana we’re talking about.
     
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  19. EnglishmanAbroad

    EnglishmanAbroad Guest

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    Whenever I hear about resale bargains I just want to punch someone in the face. Luckily that someone is me for not doing my research in the first place.

    I actually kid myself that if I had bought resale I would have been able to buy 4x as many weeks and would therefore have had 4x the MF headache. Please don't mention I could have just bought the 1 week resale and saved myself 75% as I would then feel that punch coming on again :)
     
  20. controller1

    controller1 TUG Member

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    You're not alone.

    I discovered TUG in the middle of 2017. But before I discovered TUG and understood the resale side of timeshares . . . I had purchased (all developer) 2 weeks of OF at WKORVN, 2 weeks of OF at Nanea and 257,700 points in Westin Flex. I previously owned a week at Princeville but traded in on Nanea.

    If I had only known..... But hey, I'm Vistana 5-Star Elite! :thumbup:
     
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  21. CalGalTraveler

    CalGalTraveler TUG Member

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    @EnglishmanAbroad and @controller1 I feel your pain. Before we found TUG we bought one NYC property from the developer.

    We then found and purchased 2 resales: 1 HGVC Vegas trader, and WKORVN OF which in total were less than half of what we paid retail for NYC.

    Between low resale prices, trading cheaper Vegas MF into expensive OF HI, using discounted getaways, and garnering incentives and low cost stays from presentations, I feel we are slowly making up for that expensive lesson.

    Biggest problem is that resale timeshares are so inexpensive it is very tempting to pick up a few more but could end up with too many MF! May pull the trigger during the next downturn for a distress sale or two.
     
    Last edited: Oct 23, 2018
  22. DannyTS

    DannyTS TUG Member

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    i thought Tug was all about spreading the knowledge and the love :).
     
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  23. DannyTS

    DannyTS TUG Member

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    i totally understand why owners who have no intention to buy more but spent a lot of money to buy retail are not happy to have this kind of conversation.
     
  24. CalGalTraveler

    CalGalTraveler TUG Member

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    LoL. I think of Tuggers as being akin to coin collectors. They are always looking for the rare resale deal, they trade frequently, and they like to get together to share what "treasured property" or trade they have found.

    Others simply buy and use coins (or a timeshare). They see coins as a means to an end and don't care. Those are the majority.
     
    Last edited: Oct 23, 2018
  25. DannyTS

    DannyTS TUG Member

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    if you think about it, there are about 90,000Tug members, not all very active and not all resale owners.How many timeshare owners? Probably over 2 millions when you add all the copmpanies
     
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