Narrowed my broker choice to three. Help?

[Cyndy]

My husband and I are selling our Hawaii timeshare and over the past week, I have been in contact with three brokers. I would love feedback from anyone about these individuals. Specifically, what is your experience with them as a seller NOT a buyer.

Shelly at TransAction Realty
Samuel Rodriguez at Selling Timeshares (.net)
Alanna Hatz at Premier Timeshare Resale

Two brokers quoted us the same listing price and one quoted $1,000 more (we own two, EOY's and are selling both). While it is tempting to go with the higher quote, I feel maybe the other two are more realistic. One has the lowest commission and seems to have a pretty good track record on TUG. I am a novice at selling so my other question is, how do I determine which one will work the hardest for me? Also, I feel the wisest thing to do is go with the one with the lowest commission and not the highest quote. It's complicated! Thanks in advance.

 

[ronparise]

First of all let me say that I dont know either of the three brokers you are talking to, I am a licensed real estate agent in Florida. but I do not represent timeshare owners (except myself)

It is a common practice among real estate agents to quote a high price just to get the listing. I lose more listings than I get because I quote a realistic price. So do your own homework and determine value for yourself...Then steer away from brokers that quote you a price that seems too high

On the flip side be wary of a broker that quotes too low a price. They will sell your property quickly but maybe not for as much as you deserve.

I think that you are exactly to feel the wisest thing to do is go with the one with the lowest commission and not the highest quote.

Also

There is nothing illegal for a broker to ask for a commission up front, but I wouldnt do it. Your deal should offer a fair commission but to be paid at settlement. Otherwise there is no incentive them to do any work.

Be aware too, that the value of your timeshare may be zero or less. When it sells (perhaps for a dollar or less) you will still owe your broker their commission. ie it may cost you to get rid of your timeshare

Like Diogenes looking for an honest man, you are looking for an honest broker...we are out there...but you do have to look

 

[BocaBum99]

Request an open listing agreement with all three. Then, all of them will be selling your unit. Do not agree to an exclusive listing agreement. That's nuts in this market.

 

[BocaBum99]

My husband and I are selling our Hawaii timeshare and over the past week, I have been in contact with three brokers. I would love feedback from anyone about these individuals. Specifically, what is your experience with them as a seller NOT a buyer.

Shelly at TransAction Realty
Samuel Rodriguez at Selling Timeshares (.net)
Alanna Hatz at Premier Timeshare Resale

Two brokers quoted us the same listing price and one quoted $1,000 more (we own two, EOY's and are selling both). While it is tempting to go with the higher quote, I feel maybe the other two are more realistic. One has the lowest commission and seems to have a pretty good track record on TUG. I am a novice at selling so my other question is, how do I determine which one will work the hardest for me? Also, I feel the wisest thing to do is go with the one with the lowest commission and not the highest quote. It's complicated! Thanks in advance.

The only thing the broker does is tell you his/her commission rate. You decide the listing price. They can give you a market analysis to give you an idea of what the market may bear.

If you sign a listing agreement, just make sure it is an open listing agreement. If you have a marketable property, they will most likely take the listing. They will present you offers as they come in.

The way timeshare brokers work is they tend to have a client list and advertise in various ways to get more clients. What you want to do is have that broker broadcast your timeshare to their list. If they don't sell it in a month, then they are just advertising it like anyone else. They may have a better reputation and therefore get more inquiries than others who are less experienced. But still they are advertising it. Let them all do it.

 

[DeniseM]

Are any of them charging you a high upfront fee?

That's a red flag...

 

[Cyndy]

Are any of them charging you a high upfront fee?

That's a red flag...

No upfront fees asked by any of them (I know better). In fact, all three stressed NOT to ever pay a fee.

 

[ronparise]

The only thing the broker does is tell you his/her commission rate. You decide the listing price. They can give you a market analysis to give you an idea of what the market may bear.

I disagree with Boca on this one.. Yes its the owners decision, but I always recommend a sales price. If however they dont accept my advice I seldom accept their business.

It is my belief that an owner is quite able to sell their property on their own, and that there are lots of agents that can sell it for them if they want that. They are coming to me for my advice and council. If they dont want it Im the wrong guy for them

I do agree that for timeshares an open listing agreement is best...

 

[billymach4]

I have done business with Sellingtimeshares.net. Seth Nock, and Samuel Rodriguez. I would recommnend Samuel.

 

[BocaBum99]

I disagree with Boca on this one.. Yes its the owners decision, but I always recommend a sales price. If however they dont accept my advice I seldom accept their business.

It is my belief that an owner is quite able to sell their property on their own, and that there are lots of agents that can sell it for them if they want that. They are coming to me for my advice and council. If they dont want it Im the wrong guy for them

I do agree that for timeshares an open listing agreement is best...

As a Florida Broker, I would be treading on very shaky legal ground by "recommending a sales price." The words matter.

You can provide a "comparative market analysis"

To protect yourself, you must put in writing that it is "not an appraisal"

If anything, it should be called something like a broker's price opinion with clear language that the client sets the listing price.

The OP makes it sound like the broker is telling them what the listing price should be without giving them an indication that it is the responsibility of the listing client to set the listing price.

 

[Cyndy]

The OP makes it sound like the broker is telling them what the listing price should be without giving them an indication that it is the responsibility of the listing client to set the listing price.

In fairness to them, I don't think they pushed for the prices they quoted but all seemed pretty confident that the number they quoted was realistic in this market. We know we'll take a "bath" (bought developer from Marriott....dumb!) and we have no delusions of getting back even close what we paid. We just want to sell them without any pain since we are novices and our lifestyle has changed so we won't be using them.

I saw a similar week on Redweek.com as ours and they have it listed for $3999. I could be wrong, but it seems when they try to undersell everyone else on that list, it does not help the rest of us. Good grief! If this keeps up we will be giving it away.

 

[chrisfromOC]

My husband and I are selling our Hawaii timeshare and over the past week, I have been in contact with three brokers. I would love feedback from anyone about these individuals. Specifically, what is your experience with them as a seller NOT a buyer.

Shelly at TransAction Realty
Samuel Rodriguez at Selling Timeshares (.net)
Alanna Hatz at Premier Timeshare Resale

Two brokers quoted us the same listing price and one quoted $1,000 more (we own two, EOY's and are selling both). While it is tempting to go with the higher quote, I feel maybe the other two are more realistic. One has the lowest commission and seems to have a pretty good track record on TUG. I am a novice at selling so my other question is, how do I determine which one will work the hardest for me? Also, I feel the wisest thing to do is go with the one with the lowest commission and not the highest quote. It's complicated! Thanks in advance.

I've talked with Shelly in the past and found her to be very knowledgeable about the market. We sold our Westin Maui a year ago and used Preferred Timeshare out of Tahoe --- they did a very good job for us at a fair price.

 

[m61376]

Shelley is a pleasure to deal with, although we've worked with her as a buyer.

 

[JustKeepBreathing]

I worked with Alanna Hatz as a buyer and the transaction went smoothly and painlessly.

I think it somewhat depends where your timeshare is located, as the different brokers seems to have greater inventory in specific areas.