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Re: What keeps you from using Redweek Exchange? (by Marty F):

All exchange companies have a number of deposited weeks that go unused, which is the nature of the process. If we could take back credits for weeks that members deposited but that nobody seemed to want we would have no problem. The fact is that you really cannot “bank” time. As in your life, a day not used just passes away. In our business, these are commonly referred to as “burned weeks”.

To do our job well (providing the best service, best pricing and still stay in business) we need to minimize burned weeks as they put a drain on the total of the accounts that we can only make up if we get “breakage”. Breakage - in the case of exchange - is when a depositor doesn’t use their week before the deposit expires. At RedWeek we’ve tried to minimize your breakage to increase your personal value in our exchange.

How do we work to minimize your breakage?

1) You get three years rather than the customary two years to use your credits.

2) You see the value of your deposit BEFORE you even commit it to us.

This allows you an open and honest view of what you can buy with your deposit. The larger exchanges simply tell you that you don’t have enough “trading power” to get what you’ve asked for. They can use this “Go fish” game, where they know the value and you do not, to string you along until you finally take something they offer at lesser value or that is about to burn. We don’t do that.

3) We also send you an alert on weeks deposited that you’ve told us you are interested in. Other companies make you check back and continually look, with the likelihood you’ll forget about your deposit and become “breakage”. You tell us where you’re interested and we monitor our inventory and automatically notify you when something becomes available..

The rental rates we put on the weeks is at a realistic market rate (not a severely discounted rate). If we can get them rented they aren’t being burned, and gives us dollars to use toward replacement weeks, hopefully with something more desirable. When we do put weeks up for rent – they are still available in the exchange program so members with existing deposits ALWAYS have the opportunity to use their exchange credits to take the week. They just need to make the decision before the week is sought by another member.

Keep in mind that ALL our rentals are to RedWeek Members only. They don’t all have deposits, but they all are paid members.

Lastly, we use DAE to process the rentals in the same way they process the exchanges. Our alliance with that company has brought thousands of additional units to our exchange program from around the world giving our members much more range of choices than we are generating on our own.

The RedWeek Exchange program is still an infant compared to the big two that have been in business over 30 years. But we’re excited about the market-based approach we’re using to give you MORE value not less, through lower fees, more flexibility and less loss and frustration. We think that more and more of our members will see the benefits of the system we’re developing as we continue to improve it.

Hopefully, this will help answer some of your questions and concerns.

Thanks, Marty