Lowballers

[Phydeaux]

I have my lock off listed here in the TUG classifieds, and received two last chance inquires this week (the interval is for week 8, beginning this Sat). So, I replied to the first one, who suggested he was ready to pay by cash, check or credit card. Long story short, the same guy comes back with an insulting low ball offer. Problem was, I lost the opportunity to rent to the second inquirer, since it took a day to learn the first guy was not genuine, and a low baller.

My mistake, I guess, although I'm not certain how I should have handled it. Perhaps to reply to any and all inquires simultaneously, "yes, the lock off is still available, first person that has the cash to me gets it".

Hate is a very strong word. I greatly disgust low ballers. I will sooner swallow the bitter pill and receive $0 and allow my lock off to go unused than to satisfy one of these creeps. Also, I feel an obligation to keep the riff raff out of my resort - I wish others felt the same, and didn't cave to these jerks.

Rant off.

 

[ronparise]

I have my lock off listed here in the TUG classifieds, and received two last chance inquires this week (the interval is for week 8, beginning this Sat). So, I replied to the first one, who suggested he was ready to pay by cash, check or credit card. Long story short, the same guy comes back with an insulting low ball offer. Problem was, I lost the opportunity to rent to the second inquirer, since it took a day to learn the first guy was not genuine, and a low baller.

My mistake, I guess, although I'm not certain how I should have handled it. Perhaps to reply to any and all inquires simultaneously, "yes, the lock off is still available, first person that has the cash to me gets it".

Hate is a very strong word. I greatly disgust low ballers. I will sooner swallow the bitter pill and receive $0 and allow my lock off to go unused than to satisfy one of these creeps. Also, I feel an obligation to keep the riff raff out of my resort - I wish others felt the same, and didn't cave to these jerks.

Rant off.

Rant back on!

Ive stopped advertising here on TUG, even when I am in a use it or lose it situation unless Ive decided to just give it away...

 

[PamMo]

I had to smile at your post, Phydeaux. With Tuggers constantly preaching to "research, buy resale, offer less, save money", and "most timeshares have almost no value" - is it really surprising that Tuggers are the worst of the lot in wanting something for free or almost free? I've advertised, but never got a renter from TUG. (Giving something away is another matter.)

Now you've learned the hard way (like most of us do), that the renter who pays promptly gets the unit. And I'll agree with you, the super-lowballers are aggravating.

 

[yumdrey]

Sorry to hear that...
I did get some low ball offers as well, and decided to sit it empty several times.
Once, it was a two bedroom marriott summer week and a broker contacted me and said her client wanted to rent my week, but after deduct commission, my net would be around $400. ha ha.
I said no.
Next day, she called me again and said her client was still interested in my week, and if I accepted the offer by the same day, my net would be $350 ($50 less than a day before).
I said don't call me again.
At that point, I thought it was insulting. Not just because of low ball offer, but also because she said $50 would be less and less each day if I didn't answer the same day.
I gave that week to my friend and they had great time.

 

[Whirl]

I had to smile at your post, Phydeaux. With Tuggers constantly preaching to "research, buy resale, offer less, save money", and "most timeshares have almost no value" - is it really surprising that Tuggers are the worst of the lot in wanting something for free or almost free? I've advertised, but never got a renter from TUG. (Giving something away is another matter.)

Now you've learned the hard way (like most of us do), that the renter who pays promptly gets the unit. And I'll agree with you, the super-lowballers are aggravating.

Importantly as well. Never turn a potential renter away completely until you have payment. I always tell them that I have another prior committment ( but no payment yet) , but I can check back with them, if they dont mind, if it falls through. Keep the communications open and up front.

 

[Phydeaux]

Importantly as well. Never turn a potential renter away completely until you have payment. I always tell them that I have another prior committment ( but no payment yet) , but I can check back with them, if they dont mind, if it falls through. Keep the communications open and up front.

That is precisely what I did. It takes a real jacka$$ to pull one the way this guy did. I'm tempted to post his name..

 

[gandalf252002]

As both a business owner and a consumer I see both sides of it. I do not like low-ballers either, as they do not value your product and make it hard for me to either make money or even break even. However, how is it any different going into an electronics store and trying to negotiate price? We all want something for either nothing, or less than what the other person is asking.

All the business magazines, including consumer reports recommend doing this. Human nature says there is ALWAYS going to be the WIIFM mentality(What's In It For Me) and if you do not ask you won't get it. Keep in mind, several times they WILL get what they want or something close to it. The other side of the stick says they may end up paying MORE because they waited to long.

 

[ampaholic]

I had to smile at your post, Phydeaux. With Tuggers constantly preaching to "research, buy resale, offer less, save money", and "most timeshares have almost no value" - is it really surprising that Tuggers are the worst of the lot in wanting something for free or almost free? I've advertised, but never got a renter from TUG. (Giving something away is another matter.)

Now you've learned the hard way (like most of us do), that the renter who pays promptly gets the unit. And I'll agree with you, the super-lowballers are aggravating.

I offered a free interval (even closing paid) I got several bites right away so I picked the first one (a new TUGGER) and said he could have it.

Well something the closer said got me to researching and after this research I decided to keep it for another year or two while I straiten it out a bit.

When I told this guy I had changed my mind and he wouldn't be getting the freebie - he got snippy and even posted that I was "shady".

Wow, even a "super low baller" type attitude on a freebie. yikes

 

[Ridewithme38]

I'll never understand the mentality of "I'd rather lose all of my money on my week then most of it"

It seems silly, First off, the value of your rental isn't some ridiculously high number you make up in your mind, its what the market will pay for it, pricing is elastic it changes minute by minute and depends on hundreds of factors(For me its defined by my personal budget, there is NOTHING i will pay more then $100 a night for, NOTHING)...IF you are only getting what you believe are low ball offers, obviously your asking too much...You guys should feel privileged to even get offered $100 for you week...

Letting you week go to waste because you can't accept the REAL value of your week is stubborn and ignorant...It's the same thing with retail buyers and the thing we fight everyday against here on TUG

 

[ronparise]

I'll never understand the mentality of "I'd rather lose all of my money on my week then most of it"

It seems silly, First off, the value of your rental isn't some ridiculously high number you make up in your mind, its what the market will pay for it, pricing is elastic it changes minute by minute and depends on hundreds of factors...IF you are only getting what you believe are low ball offers, obviously your asking too much...You guys should feel privileged to even get offered $100 for you week...

Letting you week go to waste because you can't accept the REAL value of your week is stubborn and ignorant...It's the same thing with retail buyers and the thing we fight everyday against here on TUG

You are absolutely right....if the market value is whats being offered. What we are talking about here are the folks that offer less, sometimes significantly less than market....and act like we owe them something...I dont owe squat, until Im paid

Actually I dont mind the low ballers , and I have often offered to meet or beat another bonified rental deal...But please understand when I make a reservation to rent, I always have a back up plan in case it doesnt rent, In the case of most of my floating weeks, I can cancel within 30 days or make a deposit to RCI...In the case of my Wyndham points I can cancel within 15 days....I am seldom in a position of having to lose some money.....And I dont make many mistakes

And bear in mind, if you post a rental wanted ad..my fair price goes up...(to meet the market) You see Ive never understood the mentality of someone that says that would rather sleep in their car, than give me a profit

 

[california-bighorn]

I'll never understand the mentality of "I'd rather lose all of my money on my week then most of it"

It seems silly, First off, the value of your rental isn't some ridiculously high number you make up in your mind, its what the market will pay for it, pricing is elastic it changes minute by minute and depends on hundreds of factors(For me its defined by my personal budget, there is NOTHING i will pay more then $100 a night for, NOTHING)...IF you are only getting what you believe are low ball offers, obviously your asking too much...You guys should feel privileged to even get offered $100 for you week...

Letting you week go to waste because you can't accept the REAL value of your week is stubborn and ignorant...It's the same thing with retail buyers and the thing we fight everyday against here on TUG

I agree with your thoughts 100%. I disagree with those who will either get their price or get nothing, but,I think they are trying to "protect the value of their investment". When we bought a timeshare a few years ago, it came with a week that was expiring soon. I posted an ad on TUG offering to rent for below the cost of the MF's. It worked out great for the couple who was able take advantage of this, but, I also received an email from a TUGGER about undermining his price for his rental in the same area. Up till then I thought timeshares were about vacations with family, relaxing and having fun.

 

[ronparise]

Up till then I thought timeshares were about vacations with family, relaxing and having fun.

Thats why Id rather give it away to some one that will enjoy it or let it go to waste, than accept a loball price from someone thats all about the money

 

[timeos2]

Thats why Id rather give it away to some one that will enjoy it or let it go to waste, than accept a loball price from someone thats all about the money

Face it - the "lowball" price to you may be the market value. There is nothing to say the owner alone "knows" what the value is. If you don't like it say no.

Trying "to protect their value" by artificially demanding an inflated price will only frustrate you, make the renter look elsewhere and do zero to enhance the value. It is a total waste of time & effort. But if it makes the owner feel they somehow won then fine. But that won't put any money in their pocket or change the market value by a penny.

 

[aliikai2]

Ride, with your vast rental porfoilo

Renting several hundred weeks per year, we get our fair share of " I'll give you $250 for your ocean front 2 bedroom Hawaii prime week".
Our response is thank you, no. There are cases where a owner may not know the real rental value, but I don't think that is what is being talked about by the OP.
And your

You guys should feel privileged to even get offered $100 for you week...

Is nutz, allowing someone to use your unit for $100 minus the Paypal fees, etc, isn't a privilege, it is an insult.

fwiw,

Greg

I'll never understand the mentality of "I'd rather lose all of my money on my week then most of it"

It seems silly, First off, the value of your rental isn't some ridiculously high number you make up in your mind, its what the market will pay for it, pricing is elastic it changes minute by minute and depends on hundreds of factors(For me its defined by my personal budget, there is NOTHING i will pay more then $100 a night for, NOTHING)...IF you are only getting what you believe are low ball offers, obviously your asking too much...You guys should feel privileged to even get offered $100 for you week...

Letting you week go to waste because you can't accept the REAL value of your week is stubborn and ignorant...It's the same thing with retail buyers and the thing we fight everyday against here on TUG

 

[jdunn1]

In my limmited experience, TUG is about the worst place to rent or adverstise your timeshare. If you are looking to buy, the asking price is usually dramatically more than market price and as a buyer, I have no desire to contact people who are so out of touch with reality.

As a renter, I have been even more disapointed with tug. I when I tried to rent my OceanWatch unit on TUG, I got no responses and my price was very fair. Then, when I posted a rental wanted add, all I get are offers for other resorts, that don't even come close to what I want to rent, other than they are in the same city.

Since adverstising on TUG is free, I will probably still do it, but I have quickly learned not to expect much of anything. Places like Redweek and Ebay are much better options. Sorry, TUG. No big complaints from me, it's nice to have someplace free to advertise, but somehow the tug marketplace has become somewhat useless.

 

[sail27bill]

I can see both sides of the situation, but sometimes the offer is so low that it is indeed insulting. I tend to rent from individuals a lot of timeshares rather than own one so as not to be tied down to one location, and I have never negotiated the price as each time I felt the price listed was more than fair. Actually, people have commented how easy I have been to deal with. On the opposite side, I once offered my 2 bedroom Harborside unit for only MFs and the person tried stringing me along without payment for weeks, then tried negotiating down $500 on the price (I told them it was non-negotiable) and after multiple e-mails, I finally deposited it in II. The person was mad as they had found a second couple who was going to pay $1000 toward the $1500 asking price (I found this out later as we had friends in common).

Needless to say, I was appalled since I thought the price was fair for a summer Harborside July week (just MFs) and trying to lowball me down so I could take a loss is offensive. On the plus side it worked out as I was able to trade this deposit in II for a week at Oceanwatch this past summer.

I haven't used Tug yet to rent from, but I would trust most Tuggers based on my experience here.


Anita

 

[ronparise]

Face it - the "lowball" price to you may be the market value. There is nothing to say the owner alone "knows" what the value is. If you don't like it say no.

Trying "to protect their value" by artificially demanding an inflated price will only frustrate you, make the renter look elsewhere and do zero to enhance the value. It is a total waste of time & effort. But if it makes the owner feel they somehow won then fine. But that won't put any money in their pocket or change the market value by a penny.

I think its important to define our terms....."Lowball" as we have been discussing it here is something significantlly less than the market...not something significantly less than someones inflated asking price

I dont; and I would guess that none of us try to protect the market. Maybe in my dreams I can control markets, but the reality is I have to deal with the hand Im dealt. I take the market as I find it...or more to the point I go where the market works for me....Because Id rather make a deal than not, I always price my stuff for less than I think I can get and I am always ready to negotiate from that position....

I dont want to beat anyone in a negotiation. Im always looking for that win/win outcome which explains why, I will immediately cut things off when I suspect some one sees our negotiation as something where they need to beat me; and why Id rather "cut off my nose to spite my face" and let the place sit vacant, or give it away, than deal with a jerk

Ill never rent to Ride, because he thinks I should be happy to let my place go for $100, because he thinks I have to......I will however give my place to his daughter, and she can bring daddy along (watching a little girl with her dad makes me all mushy inside)

 

[strandlover]

I once received a $200 offer for my July 4th Massanutten week. I said, no thanks (politely). Talk about lowballing. To my detriment though, I did not make much effort to market it.

Rather than leaving it empty, I gave it to a charity that I help with fundraising and they found a deserving family who needed a break.

 

[presley]

My mistake, I guess, although I'm not certain how I should have handled it. Perhaps to reply to any and all inquires simultaneously, "yes, the lock off is still available, first person that has the cash to me gets it".

Hate is a very strong word. I greatly disgust low ballers. I will sooner swallow the bitter pill and receive $0 and allow my lock off to go unused than to satisfy one of these creeps. Also, I feel an obligation to keep the riff raff out of my resort - I wish others felt the same, and didn't cave to these jerks.

Rant off.

Yes and yes. First to fork over the cash wins.

I, too, would rather donate my use to a grateful person than collect a small amount from a greedy SOB.

 

[DanM]

I wasn't going to comment because I have sat on both sides and see both points of view, but I did want to add a comment on defining lowball offers.

There is no such thing.

I tend to offer what something is worth to me. If it is the asking price, I usually pay it without haggling...or maybe suggest $50 or $100 less to satisfy my frugal soul. If it is 10% of the asking price I probably won't even start. If it's half, I might.

Suppose, for example, someone wants $1000 for a July beach week at a Marriott quality resort. It starts in two weeks. I hadn't planned on a vacation and getting organized at the last minute to get away would be a hassle. On the other hand, for $500 it would be too good a deal to pass up. If I make the offer, am I lowballing?

 

[ampaholic]

If a person wants to - they can contact the Chaplin at a local VA facility and find a hero to give their soon to expire to.

Just a thought

 

[am1]

Lowball offers happen all the time. If people did any research on my pricing they would know they are wasting their time. Furthermore, after a lowball offer comes in I counter with a higher than normal amount. I figure I will not make the sale anyways and if I do I may as well get more for it.

It costs me $99 to add a guest name to a reservation so I am not going to take anywhere close to that for any reservation.

I probably have more nights sit empty then most Tuggers even rent. But I am okay with that. A 100% rental rate is not the most profitable.

 

[GeraldineT]

I have not been doing this that long but here is my thought. I think that there are people (not all) who think that in every case that if you do not rent the unit then you are taking a loss and would rather have something than nothing. In a lot of cases that is not so. Reservations can be cancelled, points may have been pooled or can be deposited with an exchange company.

I am more annoyed by those who think that you are trying to rip them off. I had an ad on ebay. 1 BR at Wyndham Bonnet Creek $550. Forget the specific dates but there was a choice of 3 or 4 weeks at that price and the note if you need other weeks or unit size please contact me. So I get an email for a 2 BR for week before Easter. (This was back in December or January and the week was somehow still available). So I price him at $1500/$1600 (cannot remember). I get an email back about how that is a total rip off, he should report me to ebay. Now the very same week on expedia was about $1000 more. Get a subsequent email that the prior year he had gotten a 2BR on ebay for $700.

Wasn't worth my time for a rebuttal so I responded with, "wow, that was a great deal, good luck in your search".

Some people are just a-holes. Don't take it personally!

 

[horsecreek]

I am happy renting from TUGGERS.

I prefer to rent from TUGGERS because I feel there is trust. I research eBay listings and maintenance fees and have found deals that are very reasonable. If the price is right, then I simply purchase. I haven't needed to bargain any advertised price, I either think it is fair or I look at the next ad.

 

[Passepartout]

Lowballing is pervasive. It's everywhere with every transaction. I had an RV on Craigslist recently. Within 1 hour of posting it, I had a call asking sight-unseen what my lowest price was. Since it was the first call, I told him I wasn't going to discount my (fair) price on the first call, took the guy's phone number and said I'd call him in a few days if his bid was the best I'd seen. It wasn't.

Glad I'm not in the rental business. It'd drive me nutz!

Jim