Nick is joined by Roger Conner, the president of Third Home, a luxury vacation home exchange club. The conversation primarily focuses on the unique concept of Third Home and its benefits for developers and second home owners.
Third Home allows homeowners of luxurious properties to exchange time in their secondary homes for stays at similar properties around the world. Roger explains how the company originated from the challenges faced by second home owners who found their properties underutilized and the innovative solution provided by Third Home through a system of "keys" or travel credits.
Roger details the expansion and operation of Third Home, which boasts properties in over 100 countries and a variety of luxurious destinations. He discusses how the company provides a significant value in luxury travel by allowing members to stay at these properties for a fraction of the standard rental cost.
The system works on a mutual exchange of available weeks among members, facilitated by an online platform where properties and available weeks are listed.
The podcast also covers how developers can leverage Third Home to enhance the attractiveness of their properties by offering potential buyers immediate travel opportunities through the club's system before their purchased properties are ready for occupancy.
This episode sheds light on an innovative model of leveraging luxury real estate for more flexible and frequent travel, illustrating the changing dynamics in how high-value properties are enjoyed by owners and the broader implications for the real estate market.