Here it is. The supposed new-kid-on-the-block in the realm of home exchange, but in two short years of rapid growth, 3RD HOME is fast becoming the exchange partner of choice for luxury resorts and private residence clubs.
With around 950 wholly or fractionally owned properties in 58 countries worth over $2 million each on average, 3RD HOME positions itself as a club first and foremost built on the simple premise of reciprocity – ‘you get out what you put in’.
Conceived at the start of the downturn, luxury resort real estate impresario, Wade Shealy noticed an opportunity. During his 30+ years in the industry, Wade found that the main question potential buyers ask themselves before purchasing a second home is – ‘If I spend/invest a lot of my money here, am I sure that I am going to want to come back year after year’. Couple this with the fact that the new economic circumstances forced these home owners to question whether they were getting the most value possible out of their second homes and with these two notions in mind, 3RD HOME was born.
Initially focused on wholly owned individual second homes, 3RD HOME has quickly expanded its membership into the luxury resort and private residence club sector. Let’s face it, who would not want to trade some downtime in their own home for a week in one of the residences overlooking Central Park at the Trump International Hotel and Tower in New York, or for a personal paradise tucked into a private canyon in the Upper Napa Valley (Calistoga Ranch), or even a mountainside penthouse with all of the services and amenities that come with the Ritz-Carlton brand in Vail? We could go on.
By partnering up with 3RD HOME, these resorts and private residence clubs have recognized that by adding a 3RD HOME membership to the purchase of a residence is a true added-value benefit. In an environment where food and beverage credits at the bar or free golf/massages have become commoditized, the ability to be able to use your own second home to travel the world is an excellent ancillary benefit.
Peter Kempf, of the highly acclaimed, Peter Kempf International backed this up by saying that “a luxury private residence club needs to have a reciprocity program that has high standards, selection, global variety and availability. 3RD HOME is the only program that meets all of these criteria.”
With an enviable base of founding resort and PRC partners, 3RD HOME is opening up membership opportunities to more of a similar ilk on an international level. With offices in London, Los Angeles and Nashville, and partner offices in Singapore and Australia, 3RD HOME is suitably placed to deal with demands of these partners and their clients.
For more information and to see if your resort or club qualifies, please contact Wade Shealy (US) at firstname.lastname@example.org (+1 615.887.1962), or Giles Adams (outside US) at email@example.com (+18.104.22.16887).
3RD HOME is ‘The Club’ to be in for any high-end private residence club or club product. Hands down, no one else is close!
– Randy Burgess, Executive Vice President of Peter Kempf International
We have seen tremendous benefits from placing inventory on 3RD HOME. 3RD HOME has served as a productive marketing tool to bring qualified prospects to our property.
– Graham Frank, Director of Development at Vail Associates and Ritz Carlton Residences – Vail