Ask RedWeek

Realtor agreement - sell at 50% of listing without Owner approval?

Sep 11, 2016

We has recently contacted an LTRBA approved dealer in an attempt to sell our Hilton Head timeshare.

As part of the listing agreement the following was included in the Listing Terms and Conditions:

"Owner(s) acknowledge that they give Agent permission to sell the Week(s) without contacting the Owner if an offer within 50% of the target price is received. Owners are obligated to sell the weeks if Agent presents a legitimate written offer ... that is within 50% of the target price."

If I chose not to accept, then I am liable for the full commission as if the Week(s) had been sold for the price offered.

The listing target is $9000 -- not an unreal price for the week, but the 50% proviso means that they could sell for $4500 without my acceptance.

Is this a normal practice??


Fred B.
Sep 11, 2016

Never heard of them, IN checking with the BBB, they opened in 2010, started a BBB file but not accredited in 2013. There have been no complaints, or reviews in the last 3 yrs. It seems like a crap shoot, in that how bad do you want out of your time share. If you are looking for full price, and are comfortable with your MF's hold on. With all the other venues like TUG, red week, Craig's list. I couldn't imagine it beaning a contracted right to sell to them only, you would to be sure of this in that they would get a commission off you selling it. Another question would be "who handles the closing and title work". If all you want is out ...........might be a place to investigate, providing they don't want monies up front. If they do RUN....DO NOT WALK.......and seek an alternate way to sell. Never give money up front to sell your TS. GOOD LUCK...........


William P.

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