Toll Free: 877-624-6889
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Toll Free: 877-624-6889
Intl: (407) 917-8432
Posted on October 08, 2020
Marriott Vacation Club timeshares are some of the most sought-after timeshares on the market. As the first major hospitality brand to enter the timeshare industry, Marriott has been in the timeshare business since 1984 and understands all the nuances needed to deliver an exceptional vacation experience. For owners thinking about selling a Marriott timeshare, there are several advantages to the program that make it attractive to resale buyers.
Marriott has about 70 timeshare resorts within its network, offering vacations in the U.S., Aruba, St. Kitts and St. Thomas in the Caribbean, France, Spain, and Australia, plus Bali, Bangkok and Phuket. This impressive variety of destinations is a major plus and a distinct advantage over most timeshare operators.
Using this network as a selling point gives owners a competitive advantage over owners with brands which only operate in the U.S. or provide few overseas options. Yes, COVID-19 has impacted international travel, but timeshare vacations have always been a forward-looking product with owners planning as much as 13 months ahead of time. COVID will pass and smart consumers are looking for deals and information now to prepare for their future vacations.
An argument could be made that exchange companies such as Interval International or RCI can provide the same type of flexibility. Keep in mind that they also require an annual membership payment in addition to exchange fees to exchange to another destination. Because Marriott owns II, there is a sweetheart deal between the two that benefits Marriott timeshare owners, with a designated help desk and internal exchange options unavailable to other owners.
It is amazing how many people don’t fully realize what they own. We still have people coming to us thinking they own an RCI timeshare when RCI doesn’t own, manage or sell timeshares. Marriott timeshare owners are much more savvy than most, but the takeaway here is to make sure you understand exactly what you own and all of the benefits of your timeshare before you start the selling process.
This may mean reverting back to your original sale documents to review information about what you own. You should have your documents and any deeds available as these will be helpful to streamline the sales process.
Marriott is unique as it has a designated points product which coexists with owners of fixed or floating week timeshares. Marriott Destination points is a pure points program with the ability to use those points as a type of vacation currency across the Marriott timeshare network or for other travel products such as cruises, tours or rental cars.
When sellers promote their Marriott points, don’t forget to mention the different ways the points can be used. Even existing owners looking to add more points may not even be aware of some of the benefits.
Because Marriott now only sells points through its sales offices, an underappreciated option involves fixed or floating Marriott timeshare weeks.
Fixed week ownership in high demand resorts such as Marriott Aruba Surf Club or Marriott Maui Ocean Club at times such as New Year’s week can be a prized possession, so emphasize the week or season of ownership.
Sellers should point out the advantages of a secured, guaranteed week of ownership in these popular destinations when negotiating a sale.
Be as specific as you can regarding your ownership. If applicable, include your unit configuration, season, view and any other additional benefits. Photos definitely help as does explaining the amenities in the unit as well as the resort. Sell them on the same reasons and benefits that you were moved by when you originally bought your timeshare.
Marriott BonVoy is the recently rebranded loyalty program involving the various Marriott vacation brands. This is primarily their hotel loyalty program where frequent visitors rack up points to be used for future hotel stays and other affiliated travel products.
BonVoy should not be confused with Destination points, as Destination points are the purchased points through the Marriott Vacation Club, whereas BonVoy points are loyalty points freely acquired when using Marriott-affiliated travel products.
In some cases, Destination points can be converted into BonVoy points if an owner wants to travel to areas not covered by a Marriott timeshare resort. While this may seem like a nice perk, it really isn’t enough of an incentive for a seller to use to promote their Destination points on the resale market because of the transfer rules that will be discussed below.
First, let’s look at the options of ownership. There are essentially three categories of ownership, 1) fixed/floating week, 2) Destination Points and 3) weeks converted into Destination Points. This distinction is important when it comes to transferring on the resale market.
For fixed or floating week ownership, benefits will transfer to the new resale owner so this is an excellent point for sellers to mention. Marriott will seek to convert these owners into Destination points owners, as they have in the past for most week owners, but buyers purchasing resale weeks can use their timeshare week as they see fit.
For Destination points owners who originally purchased their points through Marriott, benefits will transfer to the new resale owner. However, keep in mind that if points were converted into BonVoy points, those BonVoy points will not transfer on the resale market.
For owners who have previously converted their week ownership into Destination points, those points will not transfer on the resale market. This ownership will revert back to the original week of ownership when sold on the resale market. This is an important distinction that should be understood by sellers, since you don’t want to promote your ownership as a points product but rather as the original week, lest you end up with an upset potential buyer.
This is Marriott’s way of trying to maintain a certain level of price integrity on the resale market. If a seller comes to an agreement with a buyer and the paperwork is signed, the deal needs to be approved by Marriott before it can proceed.
Marriott will look at the deal and the agreed price. At this time, they will either buy the timeshare back from the seller or allow the sale to proceed. This decision is made for a number of reasons, as Marriott may want the timeshare back to repurpose through its sales team. However, the primary reason is that they want resales to be made at a certain minimum price point, so timeshares at lower sale prices could be absorbed by Marriott whereas timeshares at higher sale prices could be allowed to continue to closing.
While this doesn’t necessarily impact a seller, since they will still be able to sell their timeshare one way or the other, it is an important part of the process to understand.
When selling a Marriott timeshare, you have a few different ways you can go. You can sell your timeshare yourself, use the services of a licensed timeshare resale broker or go directly to Marriott and see if they will place your timeshare in their resale program.
If you want to sell it yourself, you should look for a timeshare-specific website that specializes in timeshare resales. Some owners look to more generic sites such as eBay or Craigslist, but keep in mind that these sites are more like online garage sales and most timeshare buyers want to go to a site run by professionals who understand the important distinctions of the ownership options.
Timeshare brokerage firms employ licensed real estate agents to promote and negotiate the transactions, which is why they mainly work on a commission-only basis. Similar to the way a traditional real estate agent would sell a home, there would be no upfront fees charged and the agents would handle all aspects of the sale, from the initial promotion to presenting offers and handling the paperwork. Payment would be made after the sales is closed and the ownership has been transferred to the new owner.
Sellers could go to Marriott to try selling through their resale program, but remember that Marriott is obviously in active sales themselves. You should ask yourself how motivated they are to help you when you could be technically competing against them. Plus, they charge upwards of a 40 percent commission if a sale goes through, so that could be thousands of dollars going into Marriott’s coffers instead of your wallet.
Marriott owners have a great opportunity to sell on the resale market. If you have any questions or need more Marriott timeshare information, you can always call one of our licensed agents at 877-624-6889 and we’ll be glad to help you.
Owners looking to sell their Marriott timeshare back to Marriott will be directed to their customer service team which works with owners looking to exit their timeshare. This is a program designed for long term owners who want to transition out of their ownership, because Marriott is not known to have a publicized buyback program. Therefore, in the vast majority of cases owners who want to sell are referred to Marriott’s in-house timeshare resale program.
The Marriott resale program is one of the most expensive in the industry, with Marriott charging commissions of 35-40% of the sale price. Because Marriott timeshares are in such demand, owners are better off using a third-party brokerage specializing in timeshares since their commissions run about 15% of the sale price. This means more money in the seller’s pocket.
Marriott timeshare owners have several options when it comes to selling their timeshare. The most effective way to sell with the best rate of return is to work with a resale specialist, but you can also try selling it yourself or look to Marriot for help.
Selling your Marriott timeshare yourself means looking for a way to promote it and negotiate the sale yourself. Using social media is a possibility such as promoting on Facebook or Instagram, or letting friends and family know you are looking to sell. The difficulty is finding a buyer that way.
Timeshare resale specialists work in a couple of ways, either as adverting agencies for owners looking for a more hand-on approach or as licensed timeshare brokerage agents.
Advertisers with a strong online presence would be your best option if you want to handle the negotiation yourself, so enter some basic online search terms that buyers would use such as “I want to buy a timeshare” and see which companies come up. Remember – if you can’t find them then neither can a buyer. The only drawback is that advertising fees are paid in advance like any other form of advertising, so you’d be paying for the promotion regardless of whether the timeshare sells.
Licensed timeshare brokerage agents work the same way a real estate agent works – taking listings and negotiating a deal with payment taken as a commission after the sale is closed. Look for a company specializing in timeshare resales with a strong online presence and trusted industry reputation. Agents are licensed through state real estate departments and are regulated, and agents can provide a market value analysis at no cost to the seller.
Marriott has an in-house resale department so they can help you sell a Marriott timeshare. However, they are the most expensive option in the industry, taking commissions of 35-40% of the sale price compared to 15% for most third-party licensed brokerage operators. Since Marriott has such a strong reputation as a quality timeshare program and higher demand than most timeshares, ask yourself why you would pay the extra commission just to go through Marriott? Independent brokers offer a no-obligation assessment of your timeshare, so it is at least worth a call.
Marriott timeshares hold their value on the resale market better than most timeshares because of the demand for Marriott vacation products. The Marriott name carries a lot of weight in the timeshare resale marketplace, but because of the variety of timeshares on the market it is nearly impossible to provide a generic, overall average price for a Marriott timeshare.
Marriott essentially has two different types of timeshares on the resale market – fixed weeks and vacation club points. Prices for the fixed weeks depend on several factors such as the resort at which the week is deeded, season of ownership and size of the unit. With nearly 70 Marriott timeshare resorts spanning the U.S., Caribbean, Europe, Asia and Australia, just comparing the destinations is a challenge let alone as specific week.
This is why it is imperative for owners looking to sell Marriott timeshares to talk to a licensed timeshare resale agent who specializes in the timeshare industry. Agents not only understand the market and the unique values of specific Marriott products, but also work with a network of brokers around the world to gauge prices and buyer activity. In the U.S., licensed agents are the only ones who can legally price resale properties apart from the owners themselves and Marriott.
For Marriott Vacation Club Destination points, the issue is a little clearer but it really depends on how the points are purchased. Points bought as new through Marriott go for just over $14/point, or $22,500 for a package of 1,500 points. However, resale prices are a much better deal because the sales costs and marketing commissions are not included in resale prices like they are in Marriott prices, since Marriott has sales staff they need to pay.
Marriott points can go for as low as $3/point, with many packages promoted in the $5-8 range. Some of these offerings come with larger points packages, but other are a bit lower which is why contacting an agent is a good idea since an agent can do the searching for you based on your needs.
To give you an idea of what you may need, a week at Marriott Grande Vista in Orlando would require between 1,900 and 3,500 points to stay in a two-bedroom unit, depending on the season. Much of the summer season requires 2,900 points for that unit for a week. So the time of year you normally travel directly impacts how many points you will need, as does the size of unit. Again, just another reason why talking to an agent is a good idea.
If you don’t pay your maintenance fees, Marriott will contact you to find out why. In some instances this can be because of financial stresses, and Marriott has a program in place where they can work with owners to help. If owners continue to withhold payment, or not speak to Marriott about payment, they will turn the account over to their collections department to handle the debt collection.
The account can also be reported to the major credit bureaus, with the owner taking a hit on their credit report and corresponding credit score at each step of the process. The longer it takes, the more significant the impact until the case is either resolved by payment or eventually ends up in foreclosure. Marriott can begin foreclosure proceedings to get their timeshare or points back, which could involve a court proceeding as well.
This is often a last resort option for owners, so before you consider not paying your maintenance fees please contact one of our licensed agents to talk over your options to sell.
Much of the time, it is because of the high asking price sellers are asking on the resale market. Some of this goes back to the way the product was originally sold, since buyers often think of timeshare in the same way they think of conventional real estate – as an appreciating asset.
Timeshares are different – they depreciate in value because they are a use product similar to the way a car depreciates when it is driven off the lot. The real value is in the use of the timeshare and the prepaid nature of the product – prepaying for vacations in advance. However, sellers sometimes think they should be making a profit on their purchase when they sell it, and that is just not the case.
About 50-60 percent of the resort retail price of a timeshare is made up of sales commissions and marketing costs, since Marriott needs to spend money to attract potential buyers to their resorts and sales centers. For the existing owner looking to sell, by taking your original price and reducing it by 50-60%, you will give yourself a much better starting point as a timeshare resale. Even so, it is smart to discuss this with a licensed agent who knows the timeshare market and can give you a market value assessment at no cost to the seller.
Other areas such as the unit size and season of ownership can make it harder to sell some Marriott timeshares over others. Just more reasons to speak with an agent to find out the best way to market your timeshare to prospective buyers. Read our article on Top Marriott Destinations.
There are a few ways to get out of a Marriott timeshare, but the most cost-effective way is to sell it with a licensed timeshare resale agent for one simple reason – no upfront fees. Sellers can try promoting on social media, but ask yourself if a buyer is really going to go to Facebook looking for a timeshare? Advertising companies charge advance fees with no guarantee that it will work, and exit companies charge as much as $10,000 upfront, again with no guarantees. Even Marriott’s own program charges commissions as much as 40 percent, whereas licensed brokers charge either 15 percent or $1,500 commission only after a sale is closed and completed.
As of now it appears Marriott has discontinued its buy back program for timeshares. Prior to COVID they had a program but shut it down due to the effects of the pandemic. However, Marriott does exercise its right of first refusal program, which is an indirect buy back program, but you first need to line up a buyer for Marriott to become involved. This is why it’s a good idea to work with a licensed broker. Once you have a buyer, the sale needs to be approved by Marriott. They can step in and basically become the buyer and buy it back, depending on the sale price, so the seller still gets their money.
Absolutely, Marriott timeshares have resale value. Some of the most popular timeshare resorts in the world are Marriott timeshares, such as Marriott Aruba Surf Club and Marriott Newport Coast Villas. With the support of the Marriott Bonvoy program, which lets owners convert the use of their timeshare to use in the Bonvoy program, the value expands to over 7,000 resorts around the world. So owners focused on selling a Marriott timeshare should promote the benefits of a program with nearly 70 timeshare resorts in its network to choose from each year. When in doubt, check with a professionally licensed resale agent to assess the resale value of your specific timeshare.
Steve manages the public relations, social media and content creation efforts of the company. Previously the Chief Operating Officer for Perspective International, Steve provided oversight and contributed articles for the five regional vacation ownership trade magazines under the Perspective Magazine banner. With 34 years’ experience in various roles in radio and television, sales and marketing, public relations, media and government liaison initiatives, he brings a well-rounded outlook to our industry.