OutSkiing
TUG Member
- Joined
- Jun 29, 2015
- Messages
- 538
- Reaction score
- 241
- Points
- 153
- Location
- Columbus, Ohio
- Resorts Owned
- Midtown 45, Bali Hai, Margaritaville
so, in the case of Wyndham: A typical example is the Reunion resort where a 3 bedroom condo generates roughly 12,000,000 credits to sell at 20 cents each or $2.4 million. The very same condo sells for about $200000 on the local real estate market.
It amazes me that competition has not brought the developer pricing down. So I was thinking about Ron's example ... The $200,000 condo sale might have a 6% commission on the sale which would be $12,000 due to the realtor which I guess covers the office staff.
So if that realtor had to sell the same unit 52 times to get the unit fully sold, they might justify 52 x $12,000 = $624,000. That commission plus the base $200,000 for the condo would be $824,000. This is still a third the full $2.4 million.
Bob