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Selling with remax

M

mari311

TUG Member
Joined
Oct 29, 2007
Messages
28
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Location
Gresham, WI
Hi,
I am new to TUG and joined primarily because i am trying to sell one of my timeshares units. I paid retail for it (would not do that again) and paid alot, I am trying to get the most I can back.

I have read almost everything on TUG... SO i know not to expect to get what I paid for it and I agree with not paying high up front fees. So i have posted on several free websites, redweek, bidshares craigslist and a few others including TUG.

My question about Remax... I spoke with an agent today at perferred choice properties and I really liked her. She gave me lots of advice even after I told her I wan't interested in paying their $650 upfront fee. I don't mind the 7% commission, I think they should get paid for their work, but that fee bothers me.

What do you all think? Is it worth the fee if your going with a reputable company. Has anyone worked with this group and had good experience? I told her to give me a couple of weeks and call me back.... To give what I have already done a chance to get offers. So I thought some of you here might help with your thoughts/advice.

thanks
Mari
:cheer:
 
Save your money! Just because they sell houses doesnt mean they can attract a buyer for a timeshare! If you want a low commission ONLY broker I would take a look at timesharehotdeal I believe they only charge around 15% commission which is the lowest quote I have heard. I hope the cheap/free methods work out for you!

mari311 said:
Hi,
I am new to TUG and joined primarily because i am trying to sell one of my timeshares units. I paid retail for it (would not do that again) and paid alot, I am trying to get the most I can back.

I have read almost everything on TUG... SO i know not to expect to get what I paid for it and I agree with not paying high up front fees. So i have posted on several free websites, redweek, bidshares craigslist and a few others including TUG.

My question about Remax... I spoke with an agent today at perferred choice properties and I really liked her. She gave me lots of advice even after I told her I wan't interested in paying their $650 upfront fee. I don't mind the 7% commission, I think they should get paid for their work, but that fee bothers me.

What do you all think? Is it worth the fee if your going with a reputable company. Has anyone worked with this group and had good experience? I told her to give me a couple of weeks and call me back.... To give what I have already done a chance to get offers. So I thought some of you here might help with your thoughts/advice.

thanks
Mari
:cheer:
Click to expand...
 
There are some ReMax offices that do a good job in selling timeshares. For example, Judi Kozlowski and her team at http://www.timeshareresalepros.com get high marks here. They charge 15% of the selling price, with a minimum of $1,000 ($1,500, if the selling price is over $3,000).

That might seem like a lot, but it's a fee you pay only if they sell your timeshare for you. The deal you are considering is one that virtually assures you will have paid that upfront fee and won't sell your timeshare. For the reasons why and for some practical advice on how to successfully sell your timeshare without getting scammed, please read (and study) this TUG "how to sell" article.

There are a number of places where you can list your timeshare for free or for a nominal fee and get good results - assuming you price it properly, as outlined in the linked article. The article includes a link to this list of resale sites that have received high marks from numerous TUGgers.
 
The first "pay $500 fee, do nothing" timeshare resale companies were actually franchisees of places like Remax and Century 21. They are independent contractors that pay a licensing fee to use the brand. It doesn't mean they are reputable and if they are trying to get you to pay $650 upfront, I doubt that they are.

There is no proprietary MLS system for timeshares, so these brokers don't really have any advantage (nor will they find more customers) than ebay, redweek, myresortnetwork, craigslist.org, or bidshares. In fact, if they get any customers at all, it is usually because they posted a cheap $25 ad on myresortnetwork (which you could do yourself). When I see advertising from the big $500 fee companies, they are usually designed to find more sellers to pay the $500 fee, than promote your unit to buyers. Unfortunately, the reputable brokers that don't charge upfront fees, usually only take very high quality resorts or peak weeks, because timeshares in general are very hard to sell.

Good luck, but I would follow the TUG advice. No matter what, you are probably going to take a bath on the resale, so losing another $650 isn't worth it.
 
taking a bath....

esk444 said:
No matter what, you are probably going to take a bath on the resale, so losing another $650 isn't worth it.
Click to expand...


Ok, I just spoke to http://www.timeshareresalepros.com and I was REALLY discouraged. Despite the fact that my resort is TODAY selling my exact week and unit for 43K she says I will only get 15K or less on the resale market!!! 43K is about 10K more than I paid for it, but only $15,000 or less. I am really terribly discouraged.

What should I do? I am selling because I could use the money and we don't get to use the unit as often as we like and we own another unit (different resort) that we can use. Should we bag the idea, and just try to rent? There isn't any real rush, but geeze, i thought we could get some of our money back.

Thoughts, ideas etc?

mari
 
You almost certainly got some accurate info.

Please, please, please read the "how to sell" article that I linked in my above post. That will give you more info on the harsh realities of selling a timeshare.

In essence, selling a timeshare is like selling a used car. With the exception of a very few high-end timeshares, timeshares generally sell for a small fraction of price that developers charge for them. If you are selling Wastegate, as some here refer to your developer, that is not one of those high-end timeshares.

You could sell your timeshare for the same $43K that the developer does - if you had the same marketing efforts, well-known business reputation, incentives and offices at the resort that the developer does. Without that, you're stuck with selling in the resale market - where sellers outnumber buyers, thus further depressing prices.
 
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I bought a one bedroom every year resale at the RCI point resort that you have listed as owning at for about $1,200 on ebay, and it had already been converted to RCI Points.
If it was a 2 bedroom converted to points it has been selling for about $2,500. and up

The other one you have listed sells as a regularly for under $2,000 and some weeks under $100.

$15,000 IMHO would be at upper the top end of the resale market.

The resort may have it listed for $43,000 and you posted that you paid about $33,000. Sorry to say but if you check the completed ebay auctions for your resort, you will find were the bottom of the resale market is for your unit.

$15,000 IMHO would be at upper the top end of the resale market.


We wish you good luck.

Bruce :D
 
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List with the free places and consider what your rock-bottom is. Meanwhile, use, rent, give to friends and family...
 
$15,000 for a Westgate unit?? Though I'm not greatly familiar with Westgate, from what I know I have a hard time imagining a Westgate unit reselling for anywhere near that amount.

For those familiar with Westgate resales, are there any Westgate units that are worth that much on the resale market??
 
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