Want to sell Westin Princeville TS. Looking for LTRBA broker recommendation.

[Kevin Koithan]

Hi everyone,

I want to sell my Vistana Westin Princeville Timeshare. After doing some research, it seems that getting a LTRBA broker to help sell it seems like a good choice. Does anyone have a recommendation on a particular broker? One broker asked for a $2000 fee, which seems a bit high. Any advice would be appreciated.

Regards,
Kevin

 

[vacationtime1]

Hi everyone,

I want to sell my Vistana Westin Princeville Timeshare. After doing some research, it seems that getting a LTRBA broker to help sell it seems like a good choice. Does anyone have a recommendation on a particular broker? One broker asked for a $2000 fee, which seems a bit high. Any advice would be appreciated.

Regards,
Kevin

A $2,000 brokers' commission for selling a timeshare is not excessive. But it should be paid from the sale escrow, never upfront.

I would contact Syed Sarmad of Advantage Vacations on Maui; I have done multiple transactions with him.

 

[Kevin Koithan]

Robert,

Thanks for your timely advice. I have contacted Syed Sarmad and hope to use him to help with my Westin Princeville Timeshare sale.

Regards,
Kevin

 

[TUGBrian]

if a broker claiming to be an LTRBA member asked for $2000 up front, you should report them to the LTRBA immediately. all legitimate licenced brokers work on commission only.

 

[Kevin Koithan]

They didn't ask for the $2000 up front. They said that is what they would charge after the sale. Sorry for the confusion.

 

[TUGBrian]

ah ok...understood.

 

[1Kflyerguy]

Just out of curiosity, as i not yet sold a timeshare.. Do most of brokers work on percent basis or charge a flat fee to market and sell the unit?

 

[WalnutBaron]

When we sold our WPORV unit a few years ago, our broker worked on a flat fee basis. His fee at the time was $1600. He did a good job and the unit was sold in about two months.

 

[dioxide45]

Just out of curiosity, as i not yet sold a timeshare.. Do most of brokers work on percent basis or charge a flat fee to market and sell the unit?

If the value of the timeshare is high enough, they may work on a percentage, but if it is a fairly low value timeshare, then they probably want a flat fee. Some may charge a percentage with a set minimum commission.

 

[1Kflyerguy]

Thanks all, that makes sense!

 

[Jon R]

Hi Kevin Koithan -
Have you had any success selling your Westin Princeville share?
We have one as well and are looking to sell. I spoke with Sellmytimesharenow but after reading negative reviews, have moved away from them.
Would appreciate your insight. Thanks, Jon

 

[DeniseM]

I recommend Syed Sarmad of Advantage Vacations, too - honest and knowledgeable. He is a TUG member and contributes great info. to TUG.

However, please be aware that unfortunately, WPORV doesn't have a high resale value, and any sales person that tells you otherwise is misleading you to get an upfront fee.

 

[Jon R]

Thanks Denise. I'm trying to understand why WPORV has a low resale value...I mean, it's beautiful Princeville, Kauai... is it something more to do with it being a Westin?

Also, what about trying to list it privately like on Craigslist? Any thoughts on that?

 

[DeniseM]

[Added later - I agree that this is a beautiful resort, and Kauai is my favorite island, but on the resale market, it doesn't do as well as Maui:]

1) It is a voluntary resort - the new buyer doesn't get the Staroptions (and no resales get Starpoints)
2) It is on Kauai - which is not nearly as popular as Maui
3) It is not on the beach
4) It has no deeded views

I would not use Craigslist to sell a quality timeshare - too many scammers and clueless people there.

I would post Ads on TUG and Redweek, and then use LT Transfers for a professional title transfer.

However, as a professional, Syed may be able to get more for it than you can, and he will walk you through the whole process.

 

[Kevin Koithan]

Hi Kevin Koithan -
Have you had any success selling your Westin Princeville share?
We have one as well and are looking to sell. I spoke with Sellmytimesharenow but after reading negative reviews, have moved away from them.
Would appreciate your insight. Thanks, Jon

I just got a pending offer yesterday

 

[Jon R]

That's great news. I think we have similar shares (2br lock off, biennial, even year). Would you mind telling the offer price?

 

[Kevin Koithan]

$4500. I will net about $2500

 

[DavidnRobin]

If this is for an EY WPORV - VSE may use their ROFR at $4500. At least according to recent reports.
Let us know how it went - good luck. That is quite a loss as EY WPORV sold for $48-56K.
The main issue is that it is a Voluntary resort - if it were Mandatory, it would have significantly higher resale value.

 

[Jon R]

If this is for an EY WPORV - VSE may use their ROFR at $4500. At least according to recent reports.
Let us know how it went - good luck. That is quite a loss as EY WPORV sold for $48-56K.
The main issue is that it is a Voluntary resort - if it were Mandatory, it would have significantly higher resale value.

Sorry David, I'm a bit of a newbie to the forum. Could you please explain all the acronyms...VSE? ROFR? Thanks.

 

[DavidnRobin]

Sorry David, I'm a bit of a newbie to the forum. Could you please explain all the acronyms...VSE? ROFR? Thanks.

Please feel free to join us on the VSE forum.
http://tugbbs.com/forums/index.php?forums/vistana-signature-experiences-formerly-starwood.51/

VSE = Vistana Signature Experiences (formerly Starwood Vacation Ownership) has Westin Vacation Club and Sheraton Vacation Clubs.

ROFR - Right of First Refusal - meaning option for Developer (like VSE) to purchase upon resale.

 

[DeniseM]

EY = every year = you have usage of your timeshare every year

EOY = every other year = you have usage every other year.

VSE = Vistana Signature Experiences = the management Co. that bought out Starwood

ROFR = right of first refusal =Vistana can buy your timeshare at the price your buyer agreed to, if they want to. Buyer won't be happy, but you get paid.

 

[Jon R]

Gotcha, thanks all. Does anyone have a sense of how often VSE triggers that right?

 

[DavidnRobin]

Hi @DeniseM
I removed my 'We are SF' from photo - and we won a game!
ps. I retired 2 weeks ago... woohoo!

@Jon R - there is an acronym list in VSE forum stickies - Owner Resources
http://tugbbs.com/forums/index.php?...-acronyms-resorts-etc-updated-12-23-07.60852/

@Syed may have best idea of ROFR - I hear that the WPORV ROFR has been increasing, but I could be biased since I own there. I bought (from SVO!) knowing I would lose upon resale, but that is not issue if not sold. We love WPORV, but I reserve exactly 12 months out - I almost bought a specific fixed week-fixed villa there, but missed it. Only the HH sections of WPORV could be sold as a separate view category.

 

[DeniseM]

You should talk to Syed - he is very knowledgeable about ROFR. But honestly, it doesn't make much difference, because the seller gets paid either way.

 

[DeniseM]

Sigh.... The Giants.... Only bright spot right now is Arroyo.