- Jun 29, 2018
- Reaction score
- The First State
- Resorts Owned
Outer Banks Beach Club I (PIC Plus)
Colonies at Williamsburg (PIC Plus)
CWA VIP Gold (718k EY)
National Harbor Resale (689k)
I'm willing to take a crack at getting an official response from my contacts for this item - however I wouldn't get my hopes up at the same time. Is it no longer possible to get an estoppel letter? I've not had to do this in years now so am not sure either way? In any case, we'd need to boil this all down to 3-10 bullet points if we can - perhaps using a timeline format - along this line:Well someone at Wyndham high enough up should want to fix things like this. For the integrity of the company. Or do they really not, as a corporation, care 2 shakes about being a decent company or their reputation?
It used to be that you could get an estoppel and it would show the points available for a contract. And if someone had credit pooled points, the buyer received them. The thing you've said that might explain why that can no longer happen is that things have changed, we no longer tie points to a contract, but rather to an account. That still doesn't excuse Wyndham from making transfers a worse $hit$how than they used to be. I still think they should be able to figure that out and transfer the appropriate amount of points to a new buyer. It really isn't right for them to keep deposited points... but okay...
The 1st thing to go, I think, was pooled (or now deposited points). OK, first area that Wyndham decided they would keep our points (points owned and maintenance paid for and really should transfer to a buyer). But OK, Wyndham made a rule that only current year points would transfer (no point deposited points would transfer). As long as the policy was stated as such, so be it. We'd all know not to promise those points if we sold a contract.
Next we heard all points on a contract (for the current use year) needed to be available to transfer to a new owner. And if we didn't have enough in our account, we (the seller) would pay $12/1000 to replace any we used so that the full amount of points on a contract would be available to transfer to the new owner. Ouch, but, okay.... a policy and if we knew that was how it would be handled, we can deal with that.
Then this latest BS started happening - about contracts transferred the last 1/2 of the year would get no points. Really not making any sense, IMO. Who is making these kinds of decisions / putting these practices in place?
When I sold a contract, I got everything taken care of before the end of the year. Everything except the request to Wyndham. I worked with LT Transfers - who are amazing and will no longer handle Wyndham transfers because Wyndham got so ridiculously hard to work with. Luckily I did what I did with LT - everything was done, deed recorded, etc, and they submitted the paperwork to Wyndham the 1st week of January. My contract transferred in 4-8 weeks (I don't remember exactly now). Comically -- the full amount of points were deducted out of my account - but not all points were given to the buyer. Wyndham told the buyer I had used some of the points. Thankfully, the new owner contacted me and I gave the new owner screens shots of the full points exiting my account and they dealt with Wyndham and got all the points they were entitled to. But seriously - how did that happen? And way to make me look bad to a buyer. Short them and blame me?
Why doesn't Wyndham care enough to get this right. Does the management/high-level officers just not care at all? I like the idea floated to buy stock and complain on that side. Maybe making shareholders aware of their shady business practices could make a difference. Because... bottom line... they are shady.
Resale contract transaction experience:
- Past experience: All points on a contract were transferred to the buyer and were expected to be available for the buyer upon transfer. If the seller did not have sufficient points for transfer to the buyer, the seller would pay $12/1000 (points rental cost) to replace any seller used points so the the full amount of points on a contract was available for transfer to the buyer.
- New experience: All points on a contract transferred between 1/1-6/30 will transfer to the buyer. All points on a contract transferred betwen 7/1-12/31 are not available to the buyer, nor the seller.
- This gap seems unfair to both the seller and the buyer - as the points are simply lost to both during any resale transaction in the second half of any calendar year, especially considering the buyer must pay the MFs once the contract transfers, without corresponding ability to use the points for that period of time.
- The current approach does not deliver a good customer experience for either the buyer or the seller. This is especially the case for the buyer, who is left paying for a service they cannot use for months on end on average. First impressions are everything, and this approach delivers a bad first impression for resale buyers.