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I listed my MVC with Marriott for them to sell and take their commissions when it does eventually sell. I guess it's on a first in, first out system. On April 25, I was #44 in line, I called to get an update, as of June 5, I am #42 in line. So in 6 weeks, only 2 of my same/similar MVC product sold. They told me the last calendar year they sold about 40-50 of my MVC. That comes out to about 1 per week. Its been now 6 weeks and only 2 have sold, I don't get it. The economy is booming more than it was last year, there is no excuse unless Marriott is lying to me about last years sales.
I listed my MVC with Marriott for them to sell and take their commissions when it does eventually sell. I guess it's on a first in, first out system. On April 25, I was #44 in line, I called to get an update, as of June 5, I am #42 in line. So in 6 weeks, only 2 of my same/similar MVC product sold. They told me the last calendar year they sold about 40-50 of my MVC. That comes out to about 1 per week. Its been now 6 weeks and only 2 have sold, I don't get it. The economy is booming more than it was last year, there is no excuse unless Marriott is lying to me about last years sales.
You could get it sold or you may not this year. It all dependent on how desirable your unit is and what kind of incentives Marriott is offering. If they are offering sale weeks and points hybrids or weeks from Spain and the Caribbean with a resale week, then you could have a better chance of getting your week sole. However, I agree with others and would recommend that you not put your eggs all in one basket and try other means of advertising to sell your week.
Be very careful with this. Unethical brokers will want "fees" to sell your timeshare. Avoid those folks like the plague. Do not pay anyone any upfront money to market your timeshare as they will take your money and run (and do absolutely NOTHING for you).
Your best bet would be to market it yourself, find a buyer and use someone like LTTransfers to handle the transaction paperwork for you. Go to: www.LTTransfers.com
Be very careful with this. Unethical brokers will want "fees" to sell your timeshare. Avoid those folks like the plague. Do not pay anyone any upfront money to market your timeshare as they will take your money and run (and do absolutely NOTHING for you).
Your best bet would be to market it yourself, find a buyer and use someone like LTTransfers to handle the transaction paperwork for you. Go to: www.LTTransfers.com
How do I market it myself? I don't have the time or the knowledge. Is there really no brokers that charge after the sale? Either this is an untapped market or its close to impossible to sell a timeshare so brokers don't even bother.
How do I market it myself? I don't have the time or the knowledge. Is there really no brokers that charge after the sale? Either this is an untapped market or its close to impossible to sell a timeshare so brokers don't even bother.
There’s another TUG member who has been successful in selling on the Bargain Basement. I have purchased via EBay, RedWeek and Tug Marketplace. It’s easy. Just use LT Transfers for closing.
How do I market it myself? I don't have the time or the knowledge. Is there really no brokers that charge after the sale? Either this is an untapped market or its close to impossible to sell a timeshare so brokers don't even bother.
You can sell it here on TUG, place an ad on Redweek, or list it on eBay for $1 and sell it to the highest bidder. No broker commission will be due if you sell this Timeshare yourself.
Most Real Estate Brokers won't touch Timeshare sales due to the sketchy reputation of many timeshare properties and the fact that the commission just isn't spectacular..... However, there are a few out there that will do it.
By the way, you really don't need to use a broker to sell this so why spend the money? Pocket it yourself. Once you find a buyer turn it over to LT Transfers and they will do the rest for you.
Quite a few well known, ethical brokers that do quite well with timeshare resales. Generally you will pay a minimum commission instead of a percentage for the majority of weeks.
If the week is worth only a few thousand dollars, it may not be worth it to you, but since you don't pay unless they sell it, you have nothing to loose.
That said, a Redweek listing and the use of LT Transfers is probably the least painful way to do it yourself without too much of a hassle. I've bought two that way and sold one.
Many years ago it took Marriott almost 3 years to sell my Sabal Palms Week for me. In the interim I rented it to cover MFs. In the end I came out fine. Later I listed my Monarch Crown Suite with them and it sold withing 2 weeks. All said and done I was very satisfied. It is all supply and demand. I might add that back when I did these transactions their commission was only 20% compared to 40% today...
Give it up. Marriott resales changed strategies and are no longer pushing brokered resales. It cut into their profits selling points. They only do it reluctantly and there is no longer a website listing inventory to buy. It could take years or never to move your unit through them.
I gave away three units of the same on the bargain forum with the taker paying the closing and transfer. If you want out, this is the way to do it. White season definitely has value through use or renting which is why there are people that will take it. Unfortunately supply vs demand dictate the market value is less than $500, which is why the buyer paying closing and transfer is about the best you can do right now.
Many years ago it took Marriott almost 3 years to sell my Sabal Palms Week for me. In the interim I rented it to cover MFs. In the end I came out fine. Later I listed my Monarch Crown Suite with them and it sold withing 2 weeks. All said and done I was very satisfied. It is all supply and demand. I might add that back when I did these transactions their commission was only 20% compared to 40% today...
Last week, Marriott offered to sell one of my weeks through a brokered sale and the commission was 50%. The week has much higher resale value than what they offered through a brokered sale. They also offered a deed back at no cost to me. I expect they are getting some high dollar weeks for nothing through their “exit program.”
Give it up. Marriott resales changed strategies and are no longer pushing brokered resales. It cut into their profits selling points. They only do it reluctantly and there is no longer a website listing inventory to buy. It could take years or never to move your unit through them.
While it is correct that they no longer actively promote resale weeks through the web site, the local and central sales offices still move resale inventory with the hybrid bundles of a week/matching points. I suspect there are certain resale weeks that are more popular to pair with bundles, so those may be the ones that move the fastest. Not sure if Desert Springs is a popular bundle component or not.
While it is correct that they no longer actively promote resale weeks through the web site, the local and central sales offices still move resale inventory with the hybrid bundles of a week/matching points. I suspect there are certain resale weeks that are more popular to pair with bundles, so those may be the ones that move the fastest. Not sure if Desert Springs is a popular bundle component or not.
Depending on the sales promotions going on at the time, any property could be resale. In fact, I was offered ANY property resale wanted by Marriott. Desert Springs Villas I was the first one offered to me. Then it was any of the properties. Of course the price varied. I looked for the property that elected to highest number of points for the lowest price outside of Hawaii because I wanted the lowest maintenance fees per point I could get.
Last week, Marriott offered to sell one of my weeks through a brokered sale and the commission was 50%. The week has much higher resale value than what they offered through a brokered sale. They also offered a deed back at no cost to me. I expect they are getting some high dollar weeks for nothing through their “exit program.”
I bought a Redweek full-Service listing 2 years ago. Everything went smoothly. I don’t know what commission they charge but I understand it is much less than other brokers.
I don't understand!! Marriott reached out to us to sell our weeks. We signed the agreement for one of our weeks at the Custom House. We hadn't heard any news after signing. So I placed a call to them, they told me that none of the weeks have sold and I was something like 23rd in line for the Gold week. People who have listed their platinum weeks, will sell first. The man I spoke with said to go ahead and use my 2020 weeks. Aaarggh, so frustrating, we wanted to get rid of it. What's my best options...Tug resales & Redweek? If I do that, who would I use to do the closing? We do not owe anything on it.
I don't understand!! Marriott reached out to us to sell our weeks. We signed the agreement for one of our weeks at the Custom House. We hadn't heard any news after signing. So I placed a call to them, they told me that none of the weeks have sold and I was something like 23rd in line for the Gold week. People who have listed their platinum weeks, will sell first. The man I spoke with said to go ahead and use my 2020 weeks. Aaarggh, so frustrating, we wanted to get rid of it. What's my best options...Tug resales & Redweek? If I do that, who would I use to do the closing? We do not owe anything on it.
Note; You'll wait a long time to find a buyer for a Gold Week at the Custom House. With that said, I would recommend that you simply give it away in the TUG Bargain Section.
Remember the Marriott Custom House is an RTU property and not a perpetual deed. Your use will expire in 2057 and there are a lot of unsold Gold Custom House weeks out there. I believe the annual fees run about $1,900 per year for a one bedroom sized unit and that is costly (although it is a great location). Those fees will magically appear again in less than six months so now is the time to unload and get the burden off of your shoulders.
Note; You'll wait a long time to find a buyer for a Gold Week at the Custom House. With that said, I would recommend that you simply give it away in the TUG Bargain Section.
Yikes that’s not exactly what I wanted to hear! But I think in our hearts we knew that. Wishful thinking that Marriott would find us a buyer. Will they invoke the Right of Refusal if we were to give it away? And if they do what does that mean? Do they take it back?
Note; You'll wait a long time to find a buyer for a Gold Week at the Custom House. With that said, I would recommend that you simply give it away in the TUG Bargain Section.
Yikes that’s not exactly what I wanted to hear! But I think in our hearts we knew that. Wishful thinking that Marriott would find us a buyer. Will they invoke the Right of Refusal if we were to give it away? And if they do what does that mean? Do they take it back?
Marriott likely will find you a buyer, but can you wait many years? Likely not as it is too expensive to do so. Besides, they really push points these days; not weeks.
I can't answer for sure if they will act on the ROFR if you give it away. I recognize you likely don't want to hand anything over to mother Marriott for nothing if you can avoid to do so. I don't blame you at all.
I'm confident another TUG member following this will be able to comment on the ROFR issue and if Marriott has a stake in the game if you "gift it" for zero financial consideration....
Note; You'll wait a long time to find a buyer for a Gold Week at the Custom House. With that said, I would recommend that you simply give it away in the TUG Bargain Section.
Yikes that’s not exactly what I wanted to hear! But I think in our hearts we knew that. Wishful thinking that Marriott would find us a buyer. Will they invoke the Right of Refusal if we were to give it away? And if they do what does that mean? Do they take it back?
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