Something’s Fishy With This Broker’s Fiduciary Responsibilty

Look at these listings, the first page of many, that I found on a timeshare broker’s site for Wyndham points at their Bonnet Creek property. 

POINTS    PRICE

400,000  $48,500 

154,000   $1,900

126,000    $17,000

105,000    $11,000

189,000     $21,000

 64,000      $12,000

 84,000       $10,352

320,000     $21,900

 84,000      $152,258

126,000      $8,500

105,000      $10,500

168,000      $11,281

105,000      $8,600

128,000      $15,832

 84,000       $12,277.70

511,000       $60,000

525,000      $28,000

 84,000        $12,507

166,000       $12,130

I don’t know about you, but these listings make absolutely no sense and send a clear warning sign that something is amiss. All of these listings are for the same resort and all are for points. Points, for those of you unfamiliar with timeshare, are the ‘currency’ whereby an owner has access to a reservation system. You don’t actually own much of anything. So while no one house or condo is exactly the same-difference with lot size, view, layout, floor of building, etc. , points at a resort are all exactly the same. 

Now how is it that in this broker’s exact words from their own website; “15 years of experience and an outstanding reputation in the timeshare industry, our licensed real estate agents are vacation ownership experts and we promote timeshare listings using extensive digital marketing

that provides exposure to prospective buyers from across the globe” they can charge such drastically different prices for the exact same product while all the while, operating with the seller’s fiduciary interests at heart?

One of the reasons I tell people to work with a broker when selling their timeshare is that in theory, a broker will help owners determine a sensible price to list their timeshare for in order to maximize their chances of a sale. 

If these insane listings aren’t bad enough, a quick glance at Sharket.com will clearly show that the average selling price of a timeshare at Wyndham Bonnet Creek dating back from 2012 is $1,000 based on more than 1,000 verified sales. 

Something is fishy here and this broker has some questions they need to answer.