500-Pt Beach Club Villa Resale

[Deep-Thots]

Have y'all noticed that this is listed at both TTS and Jaki's site?

Not having sold a DVC contract, I can't be certain about this, but... isn't what the sellers are doing (by having double listings, with two different realtors) illegal? Don't you have to sign some sort of exclusivity contract with the realtor?

Even if it's within the letter of the law, however, it still seems a bit skanky to me.

 

[Desperado]

Seems like they could be working together legitimately, whomever gets interest and is able to make the sale, can get the commission. Perhaps they have worked out someway of sharing the comission.

I prefer to see people working together instead of cut throat against each other.

 

[RuthnPaul]

Originally posted by Deep-Thots Not having sold a DVC contract, I can't be certain about this, but... isn't what the sellers are doing (by having double listings, with two different realtors) illegal? Don't you have to sign some sort of exclusivity contract with the realtor?

Kim, it would appear to be perfectly legal/common based on the following, which is taken directly from a sales contract we received from one of the major resale brokers:

General Conditions
1. This agreement is non-exclusive, you may use other brokers or agencies without cost or obligation to [name of broker]. Seller agrees to notify (name of broker) immediately upon acceptance of a contract from any other entity.

 

[Deep-Thots]

Thanks, RuthnPaul. As I said, never having sold any points, I was unfamiliar with that part of a DVC contract. I do know that you have to sign what amounts to an exclusive contract here in NJ (with a realtor, who acts solely as your agent, etc.) when you are purchasing a home. In fact, it used to be that if you wanted to cancel a listing with a realtor, you had to wait a minimum period of time (30 days, if I recall correctly) before you could list it with another realtor. Don't know if that's still true, of course.

I'm curious about whether the non-exclusive aspect of DVC contracts is related to DVC specifically, timeshares in general (DVC is the only timeshare we own, so again, I'm hazy with regard to generalizations), or FL (or NJ) specifically. Any idea? It seems to me that real estate transactions are easier, on the whole, to handle in FL (where, for example, they will accept faxes as legal documents), but I could be mistaken about that, too.

Just curious.

 

[Poorman]

I noticed there is a $2.00 per point difference in the listing .....

 

[Deep-Thots]

Originally posted by Poorman
I noticed there is a $2.00 per point difference in the listing .....

That's interesting....

 

[pumpkinboy]

I had always assumed that these resale listing contracts were non-exclusive. Like you I have never sold any of my points, but have been curious about it. Having tracked the bigger three brokers and Reid sometimes as well, I have seen a number of identical contracts listed in two (or more!) places - so I assumed these were non-exclusive.

In terms of the price differential, I have found prices differing for identical contracts with identical points banked/borrowed on the sites, but rarely by as much as $2 a point.

Interesting. Thx for bringing it up.

 

[CarolMN]

Originally posted by Deep-Thots
Thanks, RuthnPaul. As I said, never having sold any points, I was unfamiliar with that part of a DVC contract. I do know that you have to sign what amounts to an exclusive contract here in NJ (with a realtor, who acts solely as your agent, etc.) when you are purchasing a home. In fact, it used to be that if you wanted to cancel a listing with a realtor, you had to wait a minimum period of time (30 days, if I recall correctly) before you could list it with another realtor. Don't know if that's still true, of course.

I'm curious about whether the non-exclusive aspect of DVC contracts is related to DVC specifically, timeshares in general (DVC is the only timeshare we own, so again, I'm hazy with regard to generalizations), or FL (or NJ) specifically. Any idea? It seems to me that real estate transactions are easier, on the whole, to handle in FL (where, for example, they will accept faxes as legal documents), but I could be mistaken about that, too.

Just curious.

AFAIK, there is nothing in our contract with DVC/DVD that restricts how we sell it other than Disney's ROFR.

Apparently, NJ has a law that may or may not apply to you (assumig you are a NJ resident) if you sell a timeshare. Seems to me NJ laws would not apply to a sale of a Florida timeshare. However, I am not a real estate broker or a real estate lawyer - haven't even ever pretended to be one, so don't rely on my opinion!

AFAIK, Minnesota has no such law - we are free to work with as many or as few brokers/agents as we wish when we sell property. Terms are negotiaable between broker and seller.

Best wishes -

 

[Doug7856]

Originally posted by Deep-Thots
Have y'all noticed that this is listed at both TTS and Jaki's site?

Not having sold a DVC contract, I can't be certain about this, but... isn't what the sellers are doing (by having double listings, with two different realtors) illegal? Don't you have to sign some sort of exclusivity contract with the realtor?

Even if it's within the letter of the law, however, it still seems a bit skanky to me.

How can you be certain that they are the same listing? If they are the same listing, I believe that there must not be an exclusive listing requirement by the two resale companies.

 

[Deep-Thots]

Originally posted by Doug7856
How can you be certain that they are the same listing?

From both contracts: 500-pt BCV contract, 34 pts available now, 385 coming in march of '05. With such specific identical numbers, two different contracts seems unlikely.

[/i]If they are the same listing, I believe that there must not be an exclusive listing requirement by the two resale companies.

Yes, as RuthnPaul mentioned, that must indeed be the case (see post above). Just very different from the way realty is sold in NJ (though again, I'm not certain about timeshares).

 

[mzzbuzzlightyear]

In my area of New Jersey they do not use only exclusive listings; They also use Multiple Listings.

A few years ago , when I noticed the same timeshares for sale at 2 different agencies (DVC) in Florida, I was told that they are a part of a Multiple Listing service..

Thanks,
June

 

[Judique]

Most realtors belong to a multiple listing service, and any savvy seller or buyer should seek agents who use a multiple listing service. They mean wider exposure for your property.

This should not be confused with a realtor who has an exclusive listing or an 'open' listing. Multiple listing simply means that all the members of the service are out there trying to sell your listing, despite who the lister is.

Most listing agents will try for an exclusive listing, which simply means that for a contracted length of time, they have the right to a percentage of the sales commission, no matter who sells the property. If they sell it themselves they and their company (brokerage) get the whole commission. If its sold by another member of the multiple listing service, ie, another agent working for a different company, they share the commission.

With an open listing, whoever sells it first, including the owner, wins. The only advantage to an open listing to a realtor is to get a property on the market that they have a ready buyer for...otherwise its a free for all. Open listings are not popular with realtors.