Who’s Cracked the Code on High-End Homesharing?
ThirdHome just might have the winning formula on what affluent homeowners want when sharing properties. Scaling quality and keeping up a high level of trust will be key as it grows.
Colin Nagy, head of strategy at FFNY, a global advertising agency, writes this opinion column for Skift on hospitality, innovation, and business travel. "On Experience" dissects customer-centric experiences and innovation across hospitality, aviation, and beyond. You can read all of his columns here.
The need is simple: There's buyer's remorse that comes a few years in when the second home not only becomes a burden but also limits geographic flexibility for downtime. Plunk down on that beautiful Aspen home and, well, you'd better be sure you like Aspen for your getaways — bad snow seasons and all.
While premium homes have long traded on the likes of Airbnb and Vrbo and through specialized marketplaces, another entrant has been quietly amassing a community of well-heeled second homeowners, with the average home value clocking in around $2.4 million. Without a lot of fanfare and largely through word of mouth, ThirdHome has grown to 11,022 homes and counting in 92 countries. The company predicts four times the number of homes in its network by 2021, based on its current growth.
Founder and CEO Wade Shealy started the company in 2010 after a career in real estate with just a few friends and clients because he wanted to see more of the world beyond his luxury property in Hilton Head, South Carolina.