Following the success of my first business endeavor, BuyaTimeshare.com, I felt a need to create another timeshare resale company to supplement our advertising ability to attract buyers for our customers.
While the advertising business was providing an important service to owners looking to sell their timeshare, I saw a need to build a licensed brokerage company. Since a brokerage employs licensed real estate agents, creating a working relationship between the two separate companies would allow us to provide more of a full service option for our customers.
In 2008, I made the decision to open a brokerage firm in New Hampshire called Gateway Timeshare Resales. GTR operates as a licensed real estate brokerage, comes under the jurisdiction of the New Hampshire Real Estate Commission, and works under the same principles as a traditional real estate operation with licensed agents. Gateway Timeshare Resales works on a commission-only basis to match buyers with timeshare sellers.
The fit between BuyaTimeshare.com and GTR was a natural one, as GTR does not take advance fees and can provide the kind of follow up services that my ad company cannot because of state law. Once one of our advertisers finds a buyer, GTR offers the seller the ability to negotiate with the buyer instead of doing it as a for-sale-by-owner. GTR handles negotiations between the seller and buyer, then creates a binding purchase and sales agreement. At that point GTR will collect deposits and utilize a licensed and insured closing company.
With the services of Gateway Timeshare Resales, we can hand off those sellers and buyers to GTR agents to create the purchase and sale agreement, manage the requisite signatures, and facilitate the use of a reputable timeshare closing company.
By operating a real estate brokerage, it has also given me the ability to network with other timeshare brokers and conduct co-broke arrangements to create even more business opportunities. Much like traditional real estate agents, timeshare brokers often rely on each other to match buyers with sellers. In this regard, I have a relationship with a Florida brokerage called Timeshare Broker Associates in Orlando that has helped increase sales. By being licensed in Florida, Nevada, Hawaii, Tennessee and soon Connecticut, TBA has co-brokered sales with GTR and boosted my bottom line beyond my ability to conduct business in New Hampshire.
There are also instances where a seller would rather not pay an advertising fee and feels as though they need the entire process managed by a professional agent. That’s fine, since BuyaTimeshare.com is designed as a for-sale-by-owner advertising company, whereby a seller can advertise and negotiate the sale themselves for the lower cost of online advertising. For those sellers that choose not to be involved in the process, we can refer them to GTR, who may decide to take them on as a client. If so, GTR would work to find a buyer, handle the contract preparation and liaise with the closing company for a commission paid after the sale is concluded.
The relationship between BuyaTimeshare.com and GTR has been mutually beneficial and we continue to work together to provide multiple options for owners looking to sell their timeshare.