Resale brokerage question

[BessaB]

Hi! DVC newbie here so please bear with me. We are in the process of buying our first DVC contract direct at VGF. Buying 150 points so we will have blue card perks. I’m learning a lot here on disboards. Our plan was to buy just enough direct (and because the VGF incentives are good right now) and then buy resale to boost our points and have an additional home resort. We are looking at mainly Saratoga for resale. Is there a list somewhere here of reputable brokerages? I have tried searching but the keywords come up a lot. I want to make sure I am going into this well-informed. Thanks, all!

 

[intamin]

You can find plenty just by googling DVC resale. The sponsor of the website is probably the largest and most reputable www.dvcresalemarket.com. There's also www.fidelityrealestate.com which is another well known resale website.

 

[RuntheMouse]

You can find plenty just by googling DVC resale. The sponsor of the website is probably the largest and most reputable www.dvcresalemarket.com. There's also www.fidelityrealestate.com which is another well known resale website.

I have used both of those as well as www.dvcbyresale.com without issue.

 

[BessaB]

Thank you. I have found a bunch of options and am eyeing a particular resale contract but the brokerage site has some typos and that is making me nervous. Just trying to avoid getting involved with a brokerage that turns out to be a mess.

 

[intamin]

Thank you. I have found a bunch of options and am eyeing a particular resale contract but the brokerage site has some typos and that is making me nervous. Just trying to avoid getting involved with a brokerage that turns out to be a mess.

I don't know if it's with Fidelity but Fidelity tends to make a LOT of mistakes on their website. Wrong use years, wrong number of points in the contract etc. I would triple check every aspect of the contract before agreeing to it. I bought my first resale contract with the sponsor site and it was very smooth albeit their average price per point tends to be a bit higher.

 

[BessaB]

I don't know if it's with Fidelity but Fidelity tends to make a LOT of mistakes on their website. Wrong use years, wrong number of points in the contract etc. I would triple check every aspect of the contract before agreeing to it. I bought my first resale contract with the sponsor site and it was very smooth albeit their average price per point tends to be a bit higher.

The one I am looking at right now is not with Fidelity but thank you for that insight.

 

[sndral]

There are just over a dozen reputable brokers who list resale DVC contracts w/ about 8 brokers having the lion’s share of listings. A google search will give you the names & links to the major players and the ROFR thread here on DIS is a great place to hangout while you go through the resale process https://www.disboards.com/threads/r...ost-for-instructions-formatting-tool.3923215/ .
I’ve purchased through www.fidelityrealestate.com & https://www.dvcstore.com/.
Both brokerages were fine, the Fidelity one took a little longer but that was due to my divorcing sellers quibbling rather than the brokerage.
There are just under 300 SSR contracts on the market ATM.

You can find plenty just by googling DVC resale. The sponsor of the website is probably the largest and most reputable www.dvcresalemarket.com. There's also www.fidelityrealestate.com which is another well known resale website.

Fidelity actually has more listings right now. Fidelity has an administrative fee they add of around $200, so add that to your per point figure although they often have lower prices than some of the others.
Reputable is subjective of course, but AFAIK all of the major players are reputable w/ none being more or less reputable than the others. I would be wary of eBay sellers & the like. http://www.dvcresalemarket.com/ does have some potential conflicts of interest, because of their instant offer to sellers feature they own some of their listings, I assume they disclose that they own a contract when folks make offers on those contracts. They recommend you use the title company they have financial ties to - I assume they disclose that as well. Note, as the buyer you typically pay for the title company & don‘t have to use the broker’s ‘preferred’ title company.
OP you might read through this thread to get a feel for how the experience has been for recent resale buyers https://www.disboards.com/threads/closing-time.3836891/page-240.

 

[RoseGold]

I've used the three biggest, and I would use any of them again. Heck, I'd even do private sale, like Facebook or something. Key is the title company. If they don't do business with my title company, I'm out.

 

[The_MT]

I’ve had amazing experiences with www.****************.com and www.dvcstore.com. And I’ve gotten my lowest priced contracts from www.fidelityrealestate.com.

 

[SkampyOne]

For me the game changer is https://www.dvcrofr.com/resale-listings - it scrapes everything so you can search all listings in one place, sort & filter on a bunch of factors AND double check what a reasonable offer might be based on different rationales. Props to @Galactic Reversal for all the amazing work!

 

[CVG]

There are many search engines, so find the one that best suits you. This one (checked to ensure I can reveal) allows you to sign up for price alerts.

https://dvcsearch.com/

 

[Cyberc1978]

I've used the three biggest, and I would use any of them again. Heck, I'd even do private sale, like Facebook or something. Key is the title company. If they don't do business with my title company, I'm out.

Yeah none of the brokers do the actual heavy lifting when it comes to a sale, that would be the title company.

Next time I'm selling a contract I'm going to use Facebook er something else, because the commission the brokers charge is outrageous compared to the work they do.

 

[AnnaKristoff2013]

listings, I assume they disclose that they own a contract when folks make offers on those contracts. They recommend you use the title company they have financial ties to - I assume they disclose that as well.

I don’t believe they disclose either of those things. The title one isn’t that problematic, that’s relatively common in the industry. THe fact that they are selling their own contracts without disclosing that they’re the owner is more problematic.

 

[Sandisw]

I don’t believe they disclose either of those things. The title one isn’t that problematic, that’s relatively common in the industry. THe fact that they are selling their own contracts without disclosing that they’re the owner is more problematic.

I don’t understand why it matters.

 

[AnnaKristoff2013]

I don’t understand why it matters.

At the very least it’s unethical (here’s a snippet from the National Association of Realtors Code of Ethics:

Article 4 of the NAR Code of Ethics states the following: “REALTORS® shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s agent or broker. In selling property they own, or in which they have any interest, REALTORS® shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative.”

(emphasis added)

Source: https://www.realtor.com/advice/sell/should-agents-disclose-that-theyre-related-to-a-client/#:~:text=In%20selling%20property%20they%20own,purchaser%20or%20the%20purchaser's%20representative.%E2%80%9D

In many states it is also illegal.

 

[Sandisw]

At the very least it’s unethical (here’s a snippet from the National Association of Realtors Code of Ethics:


(emphasis added)

Source: https://www.realtor.com/advice/sell/should-agents-disclose-that-theyre-related-to-a-client/#:~:text=In%20selling%20property%20they%20own,purchaser%20or%20the%20purchaser's%20representative.%E2%80%9D

In many states it is also illegal.

But they are just transaction brokers for timeshares…my understanding is that they fall under different guidelines in terms of what they can and can not do.

IMO, it plays no role in the transaction who the seller is…buyers present offers, sellers either accept, decline, or counter. Buyers have the final say as to what happens.

Plus, if the contracts are not owned by the agents, then not sure this applies either. They are not the ones selling them.

Even with what this says, a realtor must disclose if they are the agent for their own properties..not that it is required if selling via their company and another agent is the listing agent.

 

[Galactic Reversal]

But they are just transaction brokers for timeshares…my understanding is that they fall under different guidelines in terms of what they can and can not do.

IMO, it plays no role in the transaction who the seller is…buyers present offers, sellers either accept, decline, or counter. Buyers have the final say as to what happens.

Plus, if the contracts are not owned by the agents, then not sure this applies either. They are not the ones selling them.

Even with what this says, a realtor must disclose if they are the agent for their own properties..not that it is required if selling via their company and another agent is the listing agent.

I agree at the individual transaction level it doesn’t really matter as timeshares are a homogeneous product (unlike residential real estate). I think a lot of people perceive it as shady when they find out the broker was the owner and it wasn’t disclosed. That’s probably the reason national assoc. of realtors has rules around it, they have an entire code of ethics to ensure REALTORs have a good reputation.

Now as an owner, large investor or corporate ownership of DVC contracts is definitely of interest. I’m unfamiliar with the topic though. Is there a cap on how much you can own?

 

[Sandisw]

I agree at the individual transaction level it doesn’t really matter as timeshares are a homogeneous product (unlike residential real estate). I think a lot of people perceive it as shady when they find out the broker was the owner and it wasn’t disclosed. That’s probably the reason national assoc. of realtors has rules around it, they have an entire code of ethics to ensure REALTORs have a good reputation.

Now as an owner, large investor or corporate ownership of DVC contracts is definitely of interest. I’m unfamiliar with the topic though. Is there a cap on how much you can own?

The DVC contracts do limit ownership to no more tha. 8000 over all resorts and contracts you are an owner of..so the no more than 4000 at any one resort.

Again, I read the rules based on an real estate agent selling wha tthey actually own and not that they can’t sell something ownerd by others.

The solution is that a buyer who takes issue can always put that in the offer. I just don’t see it as unethical in anyway or against the rules as it relates to a timeshare sale.

I’ll even go out on a limb and say that since pretty much all brokers do it, there is a good chance it’s allowed within the whole transaction broker relationship that exists.

 

[chcknctlt]

Yeah none of the brokers do the actual heavy lifting when it comes to a sale, that would be the title company.

Next time I'm selling a contract I'm going to use Facebook er something else, because the commission the brokers charge is outrageous compared to the work they do.

Only bought....never sold....what is the commission? Upwards of 10% or so?

 

[Sandisw]

Only bought....never sold....what is the commission? Upwards of 10% or so?

I have sold many times and it’s averaged 7% to 9%.

Well worth it for the volume of business they did in terms of finding buyers.