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Status with Resale Points

wuv pooh

wuv pooh

TUG Member
Joined
Jun 6, 2005
Messages
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Location
NOVA
Had a question that came up at my presentation today. I am like 175 points away from a status level that I am grandfathered in. My child can't inherit the status unless I have the 175 points, but Marriott will not sell me less than 1,000 even though I offered to buy 250 minimum interval. I said I might buy them resale and they said emphatically that resale points do not count for status.

Is this true? I know at the start that status in the original trust documents was based on points owned and nothing regarding where purchased. I thought paying the $3 per point fee turned points into the equivalent of Marriot sold points in all regards. I also know that status is not a deeded benefit and Marriott can change the rules if they want. I think DVC did some things to make resale owners lower class citizens for certain benefits. Has Marriott done something similar and resale points no longer count towards status, even if you pay the $3 per point fee?
 
Nope. But the salesrep's children will starve and their mother won't get the operation she needs unless you buy direct.
 
StevenTing said:
They will count towards status. I did this exact thing. Purchased 1000 resale to hit presidential.
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That's what I thought. If you don't mind me asking, I see a lot of contracts for ~ $1 a point. I think ROFR trigger is currently thought to be ~ $3. What was your strategy - help a bunch of people sell directly to Marriott for $1 and hope to sneak through eventually or try to put contracts in around $3 and do it just a time or two? Not sure if I want to pay more than $1 if we might go into a recession and Marriott lowers their ROFR floor
 
wuv pooh said:
Had a question that came up at my presentation today. I am like 175 points away from a status level that I am grandfathered in. My child can't inherit the status unless I have the 175 points, but Marriott will not sell me less than 1,000 even though I offered to buy 250 minimum interval. I said I might buy them resale and they said emphatically that resale points do not count for status.

Is this true? I know at the start that status in the original trust documents was based on points owned and nothing regarding where purchased. I thought paying the $3 per point fee turned points into the equivalent of Marriot sold points in all regards. I also know that status is not a deeded benefit and Marriott can change the rules if they want. I think DVC did some things to make resale owners lower class citizens for certain benefits. Has Marriott done something similar and resale points no longer count towards status, even if you pay the $3 per point fee?
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So the grandfathered status doesn't extend to heirs? Make certain about that, don't take a salesperson's word for it. I have seen them sell less but it was special situations.
 
wuv pooh said:
That's what I thought. If you don't mind me asking, I see a lot of contracts for ~ $1 a point. I think ROFR trigger is currently thought to be ~ $3. What was your strategy - help a bunch of people sell directly to Marriott for $1 and hope to sneak through eventually or try to put contracts in around $3 and do it just a time or two? Not sure if I want to pay more than $1 if we might go into a recession and Marriott lowers their ROFR floor
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I did 4 or 5 contracts. Starting at $3. Then $3.25, $3.50 but eventually passed at $4.00. Took about 4 months total. I kept my prices higher as I wanted them to go through and even if they didn’t, it helps the seller.

I like was on a timeline otherwise I would have started lower.
 
wuv pooh said:
That's what I thought. If you don't mind me asking, I see a lot of contracts for ~ $1 a point. I think ROFR trigger is currently thought to be ~ $3. What was your strategy - help a bunch of people sell directly to Marriott for $1 and hope to sneak through eventually or try to put contracts in around $3 and do it just a time or two? Not sure if I want to pay more than $1 if we might go into a recession and Marriott lowers their ROFR floor
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Just remember that you will still pay minimum of $3000 in junk fees regardless if you purchase 250,500,750 or 1000 points.
 
You'll have a tough time finding a resale contract for less than 1,000 points. On rare occasions you will see a 500 point one but I've never encountered a 250. I would guess that with your purpose in mind, you might not mind the $3k minimum enrollment fee to make them work like a regular purchase. If you found a 250 and it passed ROFR at say $4 a point, with the fee you'd be paying $4K plus the $95 ROFR fee to accomplish your goal if it passes review. $5K plus ROFR for 500 points.
 
If you could find a 250 or even a 500 point batch for sale, my guess is it would pass ROFR at a lower price than normal. Seems MVC would not want to deal with the paperwork on that small of a purchase, and would let it go, knowing their $3K fee is MVC’s win on that transaction.
 
I reached out to my contact. He believes that the grandfathering would follow the contract to an heir but will double check with corporate. He also said he could sell only 250 pts if needed.
 
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Is the status really worth spending the money? Are you spending thousands to get a few hundred dollars of benefits? Plus the status benefits will never increase, only decrease in value.
 
If buying only 250 points wouldn't just spending $600 more worth it to buy direct? You would also get 6x reward point for every dollar by charging it on an Marriott credit card. Plus making sure the points use period match your other points.

250 points would cost $12 a point enrollment fee and $3 per point so say $15 a point plus closing. Direct is $17.50 a point?

Sent from my SM-S928U using Tapatalk
 
I had a buyer who wanted 250 points. I agreed to sell for $1/point since I had only 500 left I wanted to sell. I told them I would throw in the other 250 for the same price (so $.50/point) Marriott exercised ROFR.
 
frank808 said:
If buying only 250 points wouldn't just spending $600 more worth it to buy direct? You would also get 6x reward point for every dollar by charging it on an Marriott credit card. Plus making sure the points use period match your other points.

250 points would cost $12 a point enrollment fee and $3 per point so say $15 a point plus closing. Direct is $17.50 a point?

Sent from my SM-S928U using Tapatalk
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They won't sell them 250 points direct according the original post...1,000 minimum. That's why we are discussing resale.
 
hittj5 said:
I had a buyer who wanted 250 points. I agreed to sell for $1/point since I had only 500 left I wanted to sell. I told them I would throw in the other 250 for the same price (so $.50/point) Marriott exercised ROFR.
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Were you selling individual Beneficial Interests from a deed that contained multiple BIs?
 
kozykritter said:
They won't sell them 250 points direct according the original post...1,000 minimum. That's why we are discussing resale.
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My sales contact tells me he can sell 250 in this situation.
 
dioxide45 said:
Were you selling individual Beneficial Interests from a deed that contained multiple BIs?
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Yes I had 3500 points and found a buyer for 3000 points so I had 500 points left which was two remaining Beneficial Interests. Someone contacted me wanting to purchase 250 points to reach the next status level. I did get some questions from Marriott when I submitted the ROFR for the 3000 since I would only have 2 remaining Beneficial Interests left after the sale but ultimately they didn't exercise ROFR and allowed the 3000 to go though.
If you are handling the transaction yourself and submitting the ROFR I don't believe Marriott can prevent you from selling your beneficial interests. I would think some realtors wouldn't want to be involved in selling such a small amount of points, but as an owner you should have the right to sell what you own as long as it is in increments of 250 points which is one beneficial interest.
 
hittj5 said:
Yes I had 3500 points and found a buyer for 3000 points so I had 500 points left which was two remaining Beneficial Interests. Someone contacted me wanting to purchase 250 points to reach the next status level. I did get some questions from Marriott when I submitted the ROFR for the 3000 since I would only have 2 remaining Beneficial Interests left after the sale but ultimately they didn't exercise ROFR and allowed the 3000 to go though.
If you are handling the transaction yourself and submitting the ROFR I don't believe Marriott can prevent you from selling your beneficial interests. I would think some realtors wouldn't want to be involved in selling such a small amount of points, but as an owner you should have the right to sell what you own as long as it is in increments of 250 points which is one beneficial interest.
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At what price point did Marriott allow your 3,000 points go through the ROFR process ?

What was the approximate date this transaction occurred ?









.
 
hittj5 said:
If you are handling the transaction yourself and submitting the ROFR I don't believe Marriott can prevent you from selling your beneficial interests.
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I don't doubt that they can prevent you from selling what you own. I just never heard of people splitting up BIs that were on a single deed.
 
I didn’t plan to split them up but wanted to take the offer for the 3000 points as it is challenging to find buyers for points. I tried to get the buyer to take all 3500 but they only wanted 3000. I just lucked out in getting the other 500 sold. Actually it was from my ad on TUG.
 
TheTimeTraveler said:
At what price point did Marriott allow your 3,000 points go through the ROFR process ?

What was the approximate date this transaction occurred ?









.
Click to expand...
They allowed them to go through at $2.00/point. It was back in March. I posted on ROFR site.
 
I think when I needed 250 pts to get to the next level, they were willing to sell me 500 pts with no discounts or free points.
 
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