Industry Comments
We have attached some comments from leading property and legal experts, both from Australia and around the world, to give our readers some insight into the intricacies of Shared Ownership. We will be adding to the list of contributors over the coming weeks and months and invite you to return often for updates.
Michael Matusik - Matusik Property Insights
Matusik Property Insights is one of
Since its establishment in 1998, Matusik Property Insights has been engaged in the master planning, design, feasibility and positioning of residential and resort properties for many leading organisations and has worked in association with Ric King and the directors of Lifestyle Fractional Realty many times over the past 15 years. At last count, Matusik Property Insights has helped around 450 new residential and resort developments come to fruition.
Michael Matusik, the Managing Director of Matusik Property Insights, is a leader in property market analysis and property advice in
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Richard Ragatz, President of Ragatz Associates
Dr. Ragatz has been very active in the primary trade association representing the resort industry - the American Resort Development Association. He joined ARDA in 1969, the year it was formed. In 1987, 1989, 1995 and 2006, he was given special awards by ARDA for outstanding contributions to the resort industry. The 1995 award was Industry Leader of the Year. The 2006 award was the prestigious Lifetime Achievement Award.
He also has been active in the Urban Land Institute, having cooperated with that group on a major national study in 1974 on the resort real estate industry, and a member since 1972.
His Ph.D. dissertation from Cornell in 1969 is recognized as the first national study on vacation homes ever conducted in the United States. He updated the study in 1974 for the President's Council on Environmental Quality, in 1977 for the U.S. Forest Service, in 1990 for the National Association of Realtors, and in 1993 for the American Resort Development Association.
Since 1969, he has published more than 50 articles on resort development for academic journals and trade magazines. He also has delivered more than 350 speeches on resort development at conferences held throughout the world.
Dr. Ragatz has achieved international recognition as the leading feasibility analyst and market researcher in the resort real estate industry. He has been involved in more than 2,500 studies in virtually every state and over 70 countries. Clients include most major developers and lenders in the resort industry.
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Joe Buchanan, Director and Global Head of Sales, Firstlight International
Joe's background in the fractional industry started with Head of Sales for The Timbers Resorts and Esperanza in Cabo San Lucas, Mexico. Esperanza is a property which is operated by Auberge Resorts and includes a 53 room boutique hotel and spa along with 50 two, three and four bedroom villas. The villas were sold in the Timbers Resorts fractional model which is typically 1/8 or larger interests allowing owners a minimum of 6 weeks of use per year. The beauty of the resort along with the hotel amenities and service are essential to the enjoyment of hotel guests and owners alike and the option of owning property there as opposed to paying a minimum of $1500 per night to stay in the hotel proved very enticing and the 48 villas were all sold in under four years. The Timbers Resorts now has nine resorts internationally in which owners have reciprocity allowing owners to visit other properties outside of the one they own.
From Esperanza his career took him to Discovery Land Company and another project in Cabo called El Dorado Golf and Beach Club. Widely considered the highest end private golf community developer in the world, Discovery Land Company is known to provide an unmatched level of service and amenity, but in a private setting that only allows access to owners and their invited guests.
After a brief few months back at his home near Aspen, Colorado and consulting for The Residences at Little Nell, Joe became a partner and the Global Head of Sales of Firstlight International in August of 2008 and moved to Australia to lead the development of Firstlight Noosa.
Chris Mee - McMahon Clarke Legal
McMahon Clarke Legal is a specialist commercial law firm with a focus on areas of law associated with wealth management and wealth preservation. They have specialist expertise in the area of financial services and funds management.
Chris is a partner with McMahon Clarke Legal and first joined the firm in 1998. He jointly leads the corporate team.
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Michael Teys - TEYS
Teys began their journey in June 2002, although some of the companies acquired since had their beginnings as early as 1991.
The founder of the company, Michael Teys, is a lawyer by profession and has spent his professional career specialising in strata titled development and management. He has worked as a lawyer, developer, fund manager, building manager and strata manager.
Teys has offices in Sydney, Albury, Brisbane, Gold Coast, Cleveland and Sunshine Coast at Maroochydore & Noosa, Melbourne & Bayswater in Victoria, Perth, & Como in Western Australia, servicing clients in all states.
Gregg Anderson, Global Vice President The Registry Collection program
Gregg Anderson is Vice President for The Registry Collection program, part of Group RCI, a subsidiary of Wyndham Worldwide Corporation and the global leader in vacation exchange and European rentals with exclusive access for specified periods to more than 67,000 vacation properties around the world.
As the vice president, Gregg is the overall company lead and responsible executive for the luxury product framework, The Registry Collection brand, an elite exchange program linking more than 135 luxury fractional resorts worldwide.
Dirk Wilson, Founder www.fractionalownership.co.za
In 2005 Dirk Wilson launched www.fractionalownership.co.za as Africa’s gateway to the world of fractional ownership. South Africa has one of the world’s most dynamic and established fractional markets - with over 50 resorts and destinations offering fractional ownership today. The company facilitates a number of B2B workshops and conferences in South Africa, as well as speaking at several industry events specifically on the topic of on-line marketing and targeted lead generation for fractional ownership organisations.
About www.fractionalownership.co.za
Since 2005 www.fractionalownership.co.za has played a significant role in educating consumers and developing the fractional ownership market in South Africa. MD Dirk Wilson says ‘Our platforms and events serve as Africa’s gateway to the world of fractional ownership. We are focused on showcasing our tremendous value for money fractional ownership properties here in Africa – currently our website offers buyers access to over 50 fractional safari, mountain, urban, golf and wine estates and destinations to choose from - there really is something for everyone!’ Dirk believes that the fractional lifestyle market in Africa is fast becoming the most diverse in the world.
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Andy Sirkin - Sirkin & Associates
Sirkin & Associates is a law firm that has specialized in fractional ownership since 1985. Principal attorney Andy Sirkin has been involved in the creation of more than 5,000 fractional projects throughout the United States, as well as Europe, Africa, and Central and South America, ranging in size from a single house or condominium to hundreds of units. Andy is the author of two books and numerous published articles, and has created an extensive library of instructional material for fractional developers, brokers, and buyers (available at sirkinfractionallawyers.com). His fractional ownership viewpoints and advice have been widely quoted in the media, including Time Magazine, The New York Times, The Wall Street Journal, and La Tribune. He is an accredited instructor in fractional ownership, and frequently appears at conferences throughout the world. He is based in Paris and San Francisco.
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Robert Vicino, Founder & President of Fractional Villas®
Fractional Villas® first appeared in the marketplace in 2003 when they purchased a home in Mammoth, California. They made sure the home was in top form and up to their 5-star standards before fractionalizing it. By 2006 the company saw a turn in the market and "we determined that our expertise could be better capitalized on by providing turnkey fractional services to owners of luxury resort area homes already on the market," states Robert Vicino, founder and president.
Since then, the company has grown to just under 200 owners with about three dozen properties from California to New York, throughout Latin America, the Mediterranean and other highly coveted, global resort destinations.
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Sherman Potvin - Luxury Fractional Guide
Sherman Potvin, legendary fractional expert, is the founder of Luxury Fractional Guide and Fractional Homes International and author of "Fractionalise to Maximize: Dividing Your Vacation Home Into Profit."
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Piers Brown - FractionalLife.com
Piers Brown, is the Founder of FractionalLife.com, the largest Shared Ownership Portal in the world, with over 1,000,000 site visits per month.
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