ROFR Thread April to June 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Bearval]

Which begs the question: since all the other brokers can read those reports just as easily as we can, and can "see" that the board sponsor is selling contracts at higher price points than they are, why are the other brokers not following suit and aligning their prices with the board sponsor? Would they rather just leave money on the table?

I mean, as they say, a rising tide lifts all boats.

The difference in commission for a 10 to 15 dollar spread in price per point is small (unless you are talking about VB & HH). Sell more contracts at a slightly lower prices and you make a hell of a lot more money. If you are selling a house a real estate agent would be more than happy if you accept a lower price just to close the sale fast. Now when a real estate agent sells their own house they will hold out until they get top dollar.

 

[Bearval]

Got it…completely agree with this analysis— sorry I missed your implication the first time! I don’t think the DVC market is perfectly efficient, but I agree other brokers (and sellers!) would raise their prices if they could sell them at higher price points. I saw something concerning on these boards (maybe this thread) where a certain broker was basically refusing offers that would have been better slightly for the seller than their own internal buying price—like why would you advise a seller not to take an offer that gives them more money than the offer you are making them? Maybe brokers in FL don’t have a duty to look out for seller’s best interests?

FWIW, based on my experience in April buying VGF and again this last week…I do think other brokers look at the “average sale price” numbers that come out and try to price their listings accordingly…but some end up negotiating down pretty quickly. I suspect they have to tell the clients they tried but also know it isn’t actually a market clearing price.

That may have been me, a few weeks ago (maybe a couple of months now) I made an offer on a BLT contract that was sitting for like 3 or 4 months. It was priced high and my offer wasn't even close to what they were asking. The broker emailed me and asked me to call them so they could let me know how to make a reasonable offer, my response was that my offer was $5 more than their instant sale price. They never responded back.

 

[Boba(not-so)Fit]

Honestly I’d look at another broker

My response would have been something along the lines of: “Based upon the tenor and tone of your email, you can be assured that my 13th offer will be my last.”

Funny, I am just the opposite. I could care less what the broker's comments are. These boards are loaded with bad comments about pretty much every broker out there. I had a perfectly pleasant experience with that site in March (contract sent to ROFR after 2 days, passed ROFR 8 days after that and closed 7 days later thanks to Jeffrey's Sweet's office). If I was the OP, I instead would just find the humor of it and continue to send offers myself. If they posted an ideal contract and I got an ideal price, I could care less. If I Iet every salesperson, restaurant server, Amazon driver, etc bother me, I would have been a hermit long before we ever heard of a thing called COVID.

Just today I received an email from dvcbyresale.com that my current offer was my 13th offer and none had been accepted so far

My first thought when I read this was wow, I believe that site is one of the smaller resale sites out there and you have already made 13 offers there. How many offers have you sent via the bigger sites.

 

[DonMacGregor]

The difference in commission for a 10 to 15 dollar spread in price per point is small (unless you are talking about VB & HH). Sell more contracts at a slightly lower prices and you make a hell of a lot more money. If you are selling a house a real estate agent would be more than happy if you accept a lower price just to close the sale fast. Now when a real estate agent sells their own house they will hold out until they get top dollar.

Totally agree. That’s why I included the “without losing market share” caveat. Obviously volume has a strong influence on marketing where commission comes into play.

 

[Cyberc1978]

Funny, I am just the opposite. I could care less what the broker's comments are. These boards are loaded with bad comments about pretty much every broker out there. I had a perfectly pleasant experience with that site in March (contract sent to ROFR after 2 days, passed ROFR 8 days after that and closed 7 days later thanks to Jeffrey's Sweet's office). If I was the OP, I instead would just find the humor of it and continue to send offers myself. If they posted an ideal contract and I got an ideal price, I could care less. If I Iet every salesperson, restaurant server, Amazon driver, etc bother me, I would have been a hermit long before we ever heard of a thing called COVID.

My first thought when I read this was wow, I believe that site is one of the smaller resale sites out there and you have already made 13 offers there. How many offers have you sent via the bigger sites.

I’ve made most through fidelity and few an offers at the other resale sites. I haven’t checked if 13 is the correct number.

 

[Cyberc1978]

Honestly I’d look at another broker

I don’t think you can choose the broker at this resale site you would have to skip the site entirely.

 

[Cyberc1978]

Yeah, I think the board sponsor is doing what it can to inflate people’s perceptions of pricing because they are sitting on a lot of contracts they personally own and need to unload. I guess it’s possible their resale pricing data reports are accurate for their own sales because they only sell to people willing to pay above average prices.

I think that’s correct and another reason is that their commission is tied to the sale price.

 

[Boba(not-so)Fit]

I’ve been asked twice, including by the board sponsor. The purpose being to insure that the names and ownership type on the new deed are identical to existing deeds (spelling, punctuation, middle names versus initials, etc.). That makes sure there are no hiccups when DVC adds the contract to an existing membership. It’s a public document anyone can find in about 30 seconds online, so I don’t really see it as anything but constructive.

Makes sense to do it that way to insure everything is correct. I just never heard of a broker asking for a deed. They could just as easily ask for a screenshot of your membership info from your DVC account that has the membership # and members listed on it. I wouldn't be concerned with sending a copy of the deed as well since I know they are public on the OCC site.

 

[Liquidice]

.

 

[jason423]

Yeah, I think the board sponsor is doing what it can to inflate people’s perceptions of pricing because they are sitting on a lot of contracts they personally own and need to unload. I guess it’s possible their resale pricing data reports are accurate for their own sales because they only sell to people willing to pay above average prices.

I think they have been ok. Last month for example they reported an average resale price for SSR of $108 which is going to encompass all contracts regardless of size. For SSR sales filed in the last 15 days or so the average price has been about $103 and about $100 if you take the small contracts out. Median was $102. So I would guess their $108 is certainly legit for what they have sold especially since I think prices are still dropping and their report would have been slightly older data. Even if not it is not that far over the market as a whole.

Normally I do think their prices skew a bit higher but Im not sure thats the case right now. Using that same resort their current asking price is about $120. A quick sample of some other brokers has the ask at $119, $120, and $121. I think what you do not get with the board sponsor that you do see at other places are occasional contracts that are priced to sell quickly. I dont believe you would ever see them throw up a SSR for $86/pt the way one of the other brokers did a day or two ago, but I think the general asking prices are way too high marketwide outside of one company and none of them should be getting upset with someone making a lowball offer.

 

[Sandisw]

Yeah, I think the board sponsor is doing what it can to inflate people’s perceptions of pricing because they are sitting on a lot of contracts they personally own and need to unload. I guess it’s possible their resale pricing data reports are accurate for their own sales because they only sell to people willing to pay above average prices.

Except, if they are selling contracts, and are happy with the volume of contracts they are selling, then their figures are part of the market just as those companies who sell for less are part of the market.

And, they definitely will sell contracts for less if they have owners willing to take less...I have bought and sold with them and the price I paid as a buyer, and the price I sold for as a seller, were less than market rate.

 

[HIRyeDVC]

I heard on a podcast from a sales guide from DVCRM that they are selling $3 million of contracts a week. I don’t see anywhere near that on this thread. The prices we see here are outliers. Market price is probably much higher than prices we see on the ROFR thread.

 

[bookbabe626]

I heard on a podcast from a sales guide from DVCRM that they are selling $3 million of contracts a week. I don’t see anywhere near that on this thread. The prices we see here are outliers. Market price is probably much higher than prices we see on the ROFR thread.

LOL. While we all think the Dis is the entirety and center of the universe, there’s likely lots of DVC buyers that have never heard of it…

 

[HIRyeDVC]

LOL. While we all think the Dis is the entirety and center of the universe, there’s likely lots of DVC buyers that have never heard of it…

And those buyers are likely paying even higher prices

 

[HyperspaceMountainPilot]

I heard on a podcast from a sales guide from DVCRM that they are selling $3 million of contracts a week. I don’t see anywhere near that on this thread. The prices we see here are outliers. Market price is probably much higher than prices we see on the ROFR thread.

This is certainly possible because I only follow the resorts I'm interested in....but I can tell you that I looked at all of the resale deeds for VGF and BCV and a lot for Poly over the past 2 months and I did not get the impression that prices here are outliers, perhaps below average, but not by much. I also didn't see anything to suggest a volume of $3mil a week, but they may be doing great numbers on some of the bigger resorts?

 

[HIRyeDVC]

This is certainly possible because I only follow the resorts I'm interested in....but I can tell you that I looked at all of the resale deeds for VGF and BCV and a lot for Poly over the past 2 months and I did not get the impression that prices here are outliers, perhaps below average, but not by much. I also didn't see anything to suggest a volume of $3mil a week, but they may be doing great numbers on some of the bigger resorts?

“Market” price probably falls somewhere between the board sponsor’s listed price and what we’re seeing on this thread, which varies quite a bit.

 

[lilsonicfan]

$3M/week at approx $125 pp, and 150 pp per contract (just rough ballparking) is 160 contracts a week. I don't know if that's really happening with DVCRM or not, but it does seem like a lot for just one brokerage agency.

 

[HIRyeDVC]

$3M/week at approx $125 pp, and 150 pp per contract (just rough ballparking) is 160 contracts a week. I don't know if that's really happening with DVCRM or not, but it does seem like a lot for just one brokerage agency.

Perhaps she was exaggerating. Perhaps not. The truth is, it’s really hard to gauge what true “market” price is based on extremely limited information, which this thread is.

 

[HyperspaceMountainPilot]

HyperspaceMountainPilot---$115-$12,188-101-BCV-Sep-0/22, 0/23, 101/24-Seller pays 2023 MFs- sent 5/25

I can already smell the gingerbread in the lobby as we spend the holidays on Crescent Lake. <3

 

[AinW]

AinW---$167-$18245-100-VGF-Aug-0/21, 0/22, 99/23, 100/24- sent 5/1

AinW ---$167 - $17,978-100-VGF-Aug-0/22, 99/23, 100/24 -sent 5/1 Passed 5/23

All parties completed escrow docs today (Mason Title); waiting for final docs. Also, title costs went down from initial estimate!