In 2009, in the wake of a challenging real estate market, Wade Shealy saw an opportunity most wouldn’t. Having worked in resort real estate since the 1980s, he noticed a pattern among his clients: They would purchase their dream vacation home only to find themselves wanting out just a few years later. Not because the homes were inadequate, but because the novelty had worn off. They were no longer excited by the same views, the same restaurants, the same routines.
ThirdHome founder, Wade Shealy
“They felt they had done everything there was to do in the area,” Shealy says. “But they hesitated to travel elsewhere because they’d invested so much in that one property.” What was meant to be a joyful escape had become a burden.
That insight sparked the creation of ThirdHome – a luxury property and travel club that allows second-homeowners to trade unused time in their homes for access to other exclusive properties worldwide. The concept was simple yet transformative: Why should owning a second home limit your lifestyle when it could be the key to unlocking global experiences?
Today, ThirdHome has grown into a thriving community of over 20,000 members and properties in more than 100 countries. It remains rooted in the idea that travel isn’t just about vacation – it’s a lifestyle.
One of the luxury properties with ThirdHome, located in New Zealand
While the business began as a platform for individual exchanges, it has since evolved to include partnerships with real estate developers, residence clubs, and branded communities. Technology has played a crucial role in this evolution too, streamlining the booking process, improving discoverability, and supporting a seamless user experience. Yet, at its core, ThirdHome remains a trust-based network of like-minded homeowners.
“There’s a real club atmosphere among our members,” Shealy says. “They connect over shared values – a love of travel, curiosity, and generosity. Some even become lifelong friends after a single stay.”
To meet growing demand for deeper experiences, ThirdHome introduced Adventures – small-group luxury tours curated with unique itineraries that offer immersive access to places and moments rarely available to the general public. These trips blend discovery and connection, often transforming strangers into fast friends.
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Still, one of the most important pillars of ThirdHome is exclusivity. Properties must meet strict requirements for quality, design, and location, with the average home valued at US$2.4 million. Members are not renters, but fellow homeowners – an arrangement that fosters respect, trust, and accountability. A two-way review system after each stay helps maintain standards and elevate the overall experience.
The company’s model also speaks to a broader shift in how ultra-high-net-worth individuals think about ownership. “For many, ‘home’ is no longer tied to one location,” says Shealy. “They’re looking for flexibility over permanence, not just assets, but access to a better way of living globally.” Instead of renting out their homes or letting them sit empty, members can now trade weeks in a coastal villa for time in a mountain chalet, city apartment, or beachfront estate.
ThirdHome’s expansion into Southeast Asia is a natural next step. The region’s blend of beautiful landscapes, rich cultural heritage, and fast-growing luxury infrastructure makes it a magnet for both international investors and a rising class of Asian high-net-worth buyers. “We’ve already seen organic growth here through referrals and word of mouth, even without formal marketing,” Shealy reveals. “It tells us the appetite is there, and we’re just getting started.”
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The club’s value proposition also extends to developers, who can activate unsold units or branded residences by offering them as part of ThirdHome’s exchange network, effectively transforming inventory into a lifestyle offering.
But scaling a business in luxury real estate, especially one built on exchange rather than direct purchase, is not without its challenges. “Trust is everything,” says Shealy. “We’re dealing with high-value homes and discerning homeowners. The platform has to be as polished as the properties.”
Then there’s the task of educating a niche market. “People understand renting or owning. But exchanging your second home for access to others – that’s a new mindset,” he says. It requires balancing awareness with a sense of exclusivity, and a focus on community rather than pure commerce.
Ultimately, ThirdHome offers more than access to beautiful properties. It offers a shift in mindset. As Shealy puts it: “This is about unlocking experiences, building a community of explorers, and helping people make the most of what they already have. When it works, it creates something money alone can’t buy.”
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