DVC Resale Broker Thread

[AstroBlasters]

At the suggestion of Sandi, I am starting a thread to discuss personal interactions or social media interactions with various resale brokers so as not to derail or clog up other threads.

 

[AstroBlasters]

This one was a hot topic on the ROFR thread (IMO should be named Resale Price Discovery Thread as ROFR is sleeping)

My DVC Points DVC Resale Market Recap for March 2023 with guest Jodi Gross from DVCResaleMarket.com

https://www.youtube.com/live/Ygk1dy0v62w?feature=share

 

[AstroBlasters]

My personal experience with Jodi when I made an offer on a VGC contract is that she was extremely professional and courteous. She indicated that my offer was very fair based on current market conditions, but that the seller didn’t want to come down to the level of my offer.

I get the feeling that with the number of contracts going from 800 down to 500ish @ DVCRM that the brokers are extremely busy and dealing with buyers trying to set a record low price and many sellers thinking they should still get where the market was 6-months ago.

 

[Sandisw]

I have dealt with her and found her very professional and easy to work with when I sold!I definitely get the point but at the same time, buyers have their goals and sellers have their own.

I put in about 7 or 8 offers recently for smaller RIV contracts and didn’t get any counters even close to what I wanted to pay, and to be honest wasn’t expecting…Now I am glad because I realize thar is rather spend more for direct, even if it means less points …50 vs 75.

 

[Chili327]

I get the feeling that with the number of contracts going from 800 down to 500ish @ DVCRM that the brokers are extremely busy and dealing with buyers trying to set a record low price and many sellers thinking they should still get where the market was 6-months ago.

As i posted in the other thread... That's her bubble (echo chamber), and we are in ours on here. Both are realities to each.

 

[Chili327]

Side note, not for this subject, but in general. Is there an appropriate section for podcasts, YouTube, etc.? (not sure if those count as "Social Media", but maybe they'd all be included in the same area)

 

[Ruttangel]

we know that DVCRM are the highest value listers which is great for sellers but in reality that creates a gulf between a sellers expectation of what they will get from a sale to what the market wants to pay, they have created a disconnect and that makes sellers unhappy and then brokers are trying to say it’s the bidder/buyers fault for a lowball offer

 

[ClaraOswald]

I have no experience with the people in the video. I made an offer on that site but the broker was named Derek and he was very nice. (In the end, we went with a contract from a different site.)

The lady in the video just sort of rubbed me the wrong way at the end. She seemed super annoyed with low ball offers. If people want to make an attempt with a low offer then they should go for it and if it is declined then okay. How does an unrealistic offer hurt the broker? Maybe I'm missing something.

 

[Traveling on cc points]

I have no experience with the people in the video. I made an offer on that site but the broker was named Derek and he was very nice. (In the end, we went with a contract from a different site.)

The lady in the video just sort of rubbed me the wrong way at the end. She seemed super annoyed with low ball offers. If people want to make an attempt with a low offer then they should go for it and if it is declined then okay. How does an unrealistic offer hurt the broker? Maybe I'm missing something.

They work on commission. The higher the sales price, the more they make.

 

[DavidMagic]

This is an extremely unusual time for DVC in general so I get where the brokers are coming from. With ROFR, brokers generally have an idea of where Disney will buy back....since that hasn't really been happening, lowball offers are becoming more common and the brokers don't really have much they can do about it until ROFR returns.

 

[Pens Fan]

While I've not had any personal experience with Jodi, I have always enjoyed her insight when she's been on Pete's DVC Show videos (Derek as well), and found her to be very professional. I wasn't familiar with that Youtube channel everyone was talking about, so looked it up to watch. Honestly, I took no offense whatsoever to what she was saying.

I have no doubt this is a very challenging time for resale brokers. Many sellers listed their contracts when prices were high and are having a hard time accepting that the market has changed. Keep in mind, a lot of these sellers have mortgages that need to be paid off at closing. In some cases accepting a low ball offer means they need to bring additional money to the table and they might not have the means to do that. Also, www.dvcresalemarket.com owns a lot of those contracts they are selling. These brokers know exactly what will be accepted because it's their company that's selling them! On the flip side, a lot of buyers that aren't necessarily desperate for points, but just want to scope out a good deal are offering low ball offers right and left. There is absolutely nothing wrong with that (I've made a couple of offers myself), but I'm sure brokers are getting an earful from both sides of the market right now - buyers and sellers.

I've bought two contracts through the board sponsor and think they do a fine job. They aren't my favorite broker, but they certainly aren't the worst I've dealt with. There isn't a single broker I've dealt with (and it's been quite a few) that I wouldn't use again. At the end of the day it's the title company that does the heavy lifting. If it's a contract that fits my needs I don't give two hoots who the broker is.

 

[lilsonicfan]

So I posted in the other thread about the broker who told me my pricing was all off and I shouldn’t believe what I read on Disboards, and that their sellers would never go that low, and that if I was the seller I wouldn’t go that low, “lol”. It was someone from the board sponsor. Again, my offer was not high, but it was most certainly not rock bottom.

I don’t know, I’m sure in other cases they are perfectly professional and I’m certain they are knowledgeable. It’s just that the difficulty isn’t that I don’t know the market price - the market price is whatever seller and buyer can agree on - it’s that DVCRM wants to set the market price by keeping their prices high. I get that, especially since I learned from that podcast and subsequent chatter that they own a lot of listings.

I’m not taking it personally, we all have different needs and wants. But I would prefer a more business like transaction and frankly maybe one with less potential for a conflict of interest (eg broker owning the listing but not disclosing they are the seller).

 

[pianomanzano]

I suppose I can add my $0.02 since I first brought up the video in the ROFR thread. I personally didn't take offense (similar to when other brokers scoff/chastise my low offers), I know it's just business and I know inherently they want to sell as high as possible since it directly correlates with their commission. I've dealt with Linda and Scotty and found them to be very professional and courteous, even while I was submitting lowball offers.

My only thing is how they project their current situation to the market as a whole--like when they cite their average prices or number of listings--all to justify why prices should be higher. It's almost as if they're trying to single-handedly prop up resale values (and if they do hold a lot of the contracts listed, then I can see why). As shown in that post in the ROFR thread, their resale values are significant higher than Fidelity's resale values. They also mention their total number of contracts going down from last month and how that is an indication of the market potentially shifting away from a buyer's market ("so get those higher bids in quick before the ROFR monster wakes up, because I have a feeling it will at any moment"). But the reality is there's 1600+ contracts listed right now across all the brokers (last year DVC News reported 1500 contracts being on the market as if it were an absurdly high number).

I'll give them credit when it's due. Back when VGF2 first started and was announced at $207pp, DVC resale market had the foresight to anticipate lower prices for VGF1 resale and even advertised opportunities for buyers to jump in on contracts as low as $160pp. I was one such buyer that grabbed a VGF contract listed on their site (negotiated one down from $185 to $158) at a time when other brokers were scoffing at my low bids, some of whom had flat out incorrect info or were unaware of the price drop the day VGF2 went on sale.

At the end of the day, people need to do their homework and not accept what any broker (not just DVCRM) tells you what market conditions are. That might be hard to do these days since they sponsor so many shows/podcasts (and even have a show of their own). I'm just glad we have the ROFR thread to provide some alternate perspectives!

 

[CVG]

I didn't take offence at the video. I found it hilarious. Such a supercilios position regarding the fact that buyers needed to be educated.

It was also a little dishonest in suggesting that a buyer offer at their instant sale price was worth less than their own. It's not if the buyer is paying the closing costs.

 

[ocdb8r1]

At the end of the day, people need to do their homework and not accept what any broker (not just DVCRM) tells you what market conditions are. That might be hard to do these days since they sponsor so many shows/podcasts (and even have a show of their own). I'm just glad we have the ROFR thread to provide some alternate perspectives!

I also wasn't "offended" but I think the above is what rubs me the wrong way. These people sponsor so much content that is presented as educational and unbiased....when in fact most of it is tilted with a clear agenda.

I have been away from the DVC community for quite a while and back in the days the Board sponsor was TTS (a.k.a. DVCStore)...was curious when I got back on here and started "consuming" the content of the current sponsors, I was impressed at how slick it was and how MUCH content they were pumping out. However, a few weeks in the background "agenda" to many of the shows and posts made me very wary. I appreciate the effort they put in and there is value to what they produce, but I now realize it's all gotta be taken with a grain of salt.

 

[JPKanks]

I also wasn't "offended" but I think the above is what rubs me the wrong way. These people sponsor so much content that is presented as educational and unbiased....when in fact most of it is tilted with a clear agenda.

I have been away from the DVC community for quite a while and back in the days the Board sponsor was TTS (a.k.a. DVCStore)...was curious when I got back on here and started "consuming" the content of the current sponsors, I was impressed at how slick it was and how MUCH content they were pumping out. However, a few weeks in the background "agenda" to many of the shows and posts made me very wary. I appreciate the effort they put in and there is value to what they produce, but I now realize it's all gotta be taken with a grain of salt.

100%. When you immerse yourself in researching DVC and consume articles, podcasts, etc., it's very apparent there is an agenda. It's a business, so it is what it is and they have to do what they have to do to survive, but there are times when it is disingenuous.

 

[Bmramaut]

I was shamed via text by an agent with DVCRM. I was extremely forward with my response stating I would not be buying future contracts with them and that my “lowball offer” was accepted by another company. The agent responded but I deleted it as soon as it appeared and blocked the number. The reality is they will continue to sit on contracts if they do not recognize the market has shifted. Though the ROFR monster could come back at “any” time, Disney is slumping in direct sales and will be out of the game until that changes. That means real money loss for companies who will not even present offers to sellers for negotiating.

 

[lilsonicfan]

For sure an agenda. How about the fact that they also own/run the company that will “easily help you finance your DVC purchase”, at the low low rate of 16% interest…. That couple may be unlikely to create or appear in a video about why it is a bad idea to finance DVC. Incidentally, same couple who just bought into PVB, guessing they snagged a great deal and didn’t just pay what the seller originally sought.

But of course all content should be viewed with a critical, logical mindset. Sometimes logic goes out the window with Disney purchases. Why did I buy that Loungefly backpack again when I have a million bags and purses?!

 

[CVG]

I guess that if they own half of the contracts they are listing then, no, they have no one to present the offer to. I only hope that they didn't buy too much at the top of the market. They have a nice 150 point PVB contract that they apparently have had for 14 months. Only issue is that I don't want to pay $157 for it. I'd only offer $120 but I'm too good to troll them.

 

[DeltaDVC]

Does anyone know why the closing costs are so much higher on DVCRM? I’m noticing that the closing costs are around $200 higher on DVCRM for the exact same contract than they are on 2 other reputable broker sites. I’m slightly frustrated.