Watch the full panel discussion here.
Panellists (from left to right): Peter Pienaar: General Manager, Business Development, Southern Sun; Tony Forbes: Business Development Executive, Beekman Group and iExchange; Karen Halvorsen: Co-owner, Cape Escape (rental); Nicky McCulloch: Co-owner, Cape Escape (resales); Peter Edmondson: Managing Member, TravTrust Investments (sales for Dream Vacation Club) and Jonathan Kilroe-Smith (Group CEO for Club Mykonos Langebaan) who moderated the session.
MANAGING RESALES AND RETENTION
Peter Pienaar (General Manager, Business Development, Southern Sun) shared their proactive approach to facilitating resales for owners looking to exit their timeshare:
“We have an in-house resale programme where owners work directly with our agents to sell their weeks. While we don’t buy back weeks, we offer sales mandates and market these properties through on-site services and extensive social media campaigns.”
To address repossessed weeks in smaller resorts where traditional resale demand is limited, Southern Sun has implemented a new strategy:
“In locations like Drakensberg Sun, Pine Lake, and Sabi River, we’re successfully selling repossessed weeks for approximately R50,000, with financing options over two years. This approach is revitalising the value of previously difficult weeks to sell.”
He acknowledged a slowdown in the general resale market for off-peak weeks, with properties taking longer to sell and fetching lower prices than pre-COVID levels. However, he highlighted Southern Sun’s ongoing support for owners through both resale and rental services:
“Naturally, peak weeks retain high value and sell quickly, but out-of-season weeks are sitting on the market longer, with prices dropping over the last few years. Despite this, our individual rental and resale services remain active and continue to perform well.”
Nicky McCulloch (Co-owner, Cape Escape – resales) addressed the affordability challenges tied to levies, which often lead to resale transactions:
“One of the key challenges with resales is affordability, particularly related to levies. In response, some clubs have introduced innovative solutions, such as pensioners’ clubs, to help mitigate these costs.”
She also noted that what might have been straightforward resale transactions have increasingly become education opportunities:
“Rather than assist owners with selling their timeshare, we guide them towards alternatives that align with their current needs. This helps owners manage levy costs while continuing to enjoy the benefits of their timeshare.”
