RedWeek.com Bait and Switch on Resale Value

So I’m going out on a limb today to call RedWeek.com’s bluff: Does their “Tool” perform as advertised? Here’s what it claims it will do for you – the selling timeshare owner: “This free tool gathers RedWeek.com resale data for any resort and shows owners the number of current resales posted, the median resale price, and the resale price range. . . . But who has time to pull sales comps and evaluate resale data?”

And then here they generously posted their press release link: Read more: http://www.digitaljournal.com/pr/317205
So what do they claim? They gather timeshare resale data that “shows owners the number of current resales posted, the median resale price, and the resale price range.” Yep they do that. BUT, what is “Resale Data”? The asking prices of what owners have guessed their timeshare is worth. NOT CLOSED SALES! They implied that their data was sales comps but it is not.
Using their “TOOL” you would be pricing your timeshare based on what owners guess it might be worth. I tested this on Marriott’s Maui Ocean Club only to find out the alleged sales data actually pulled from those properties listed for sale. Not SOLD.
I am sure the bait of implying to a timeshare owner they can deliver an accurate analysis of what timeshares have sold for will never match reality.
Nice try RedWeek.com. It just does not pass the sniff test. Try again. Use real time data from closed sales so that it is meaningful instead of hopes and dreams.

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