Best Way to Sell Your Timeshare
Selling a timeshare can be a confusing process, but the more you sort through the fact from fiction, the more you will be able to take control of the process. Ultimately, the best way to sell your timeshare comes down to a handful of factors, and some advice about what not to do as well.
Like any product, a timeshare is only worth what a potential owner is willing to pay for it. That is a basic market fundamental principle in play. Where many sellers fall into frustration is by not doing the research to see what their timeshare is potentially worth on the timeshare resale market. Sellers – forget about what you originally paid for it. Fifty to sixty percent of the price paid at the resort included sales and marketing costs in addition to a heap of commission paid to the salesman. Without all of the baked-in overhead, you’ll get a better understanding of where to begin. Online searches have never been easier, so search for your type of timeshare ownership online to see what others with similar ownership are asking for, then adjust accordingly.
Once you have an idea of what your vacation ownership is worth, the best way to sell your timeshare will be determined by how much effort you want to put into the sales process. Like selling a home, some owners decide to sell a timeshare by owner doing the work themselves, while others choose to hire a professional timeshare broker to handle the process for them. This choice is decidedly important because these two primary methods will determine which company can help you sell. Either way, you will need to also enlist the help of a timeshare closing company, unless you go with a broker and they have the capability in-house.
Like any sales process, you’ll first need to let prospective buyers know that you intend to sell. For owners looking to sell themselves, you will want to decide on an advertising company with the experience and market reach to attract buyers and point them in your direction. We may be a little biased, but we believe the best way to sell your timeshare is by using the services of BuyaTimeshare.com. In business for nearly 20 years, we are on the cutting edge of online marketing and generate one million visitors a year to our websites looking for timeshare information. That’s the online power you need to find a new owner for your vacation ownership and sell your timeshare.
Unlike more passive methods such as newspaper advertising (which is not targeted to the timeshare market), our advertisers are provided with an online account where they can add descriptive text, adjust prices, include photos and add search engine optimization techniques to make their timeshare as attractive as possible to consumers. Sellers then negotiate directly with buyers and close the sale themselves, saving on commissions that would otherwise go to an agent.
Owners who are not as willing to participate in the sales process can hire the services of a professional real estate agent. Such agents will charge a commission after the sale is completed, so you will want to research brokers who specialize in selling timeshares. The vast majority of real estate agents have little to no interest in working timeshares when the can make much more money selling houses. Because they are on commission, those that do will want to work the timeshares that can bring them the most money, so they tend to work the big name brands. This can leave many sellers on the outside looking in when it comes to brokers. However, because every case is different, it is best to contact the brokerage directly to find out. One company that we refer sellers to who are looking for a commission-only option is Timeshare Broker Associates and they are worth a call.
What Not to Do
There has been a lot of discussion around the best way to sell your timeshare may be through a so-called exit company. This method is fraught with problems, and many of these companies are currently being sued or investigated for fraud. A major company recently declared bankruptcy in South Florida because they could not help owners. Two other high profile exit companies closed down and an owner was disbarred in Tennessee due to exit practices. With exit companies, it is seller beware.
Another area where you will want to be careful concerns unsolicited calls or contact, often by companies claiming that they “have a buyer waiting” for your timeshare. This technique is loaded with timeshare scam and scandal, as companies will often obtain your ownership details so they can contact you and convince you to pay them, without the alleged buyer standing by. If you are contacted out of the blue, hang up the phone!
What to Do
Choose a company that is reliable, experienced in the timeshare resale market, has been vetted by major organizations such as the American Resort Development Association, has an actual office address (and not just a PO Box) and can look out for your interests. We would be honored to show you the best way to sell your timeshare, so please contact us so we can get you started with selling your timeshare now.
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