What You Need To Know When You Are Deciding How To Sell Your Timeshare
How To Sell Your Timeshare
How to sell your timeshare? It is a question which is going to be asked a great many times in the coming years, as the economic downturn means that more people will be looking to offload unnecessary expenses. Vacations are one area where so many people can save a bit of money, and that is bad news for those looking to sell. It is a buyer’s market, so how do you persuade the buyer that yours is the timeshare they need? There are some steps you can take to increase your chances of success.
The first factor which absolutely must be mentioned, of course, is that of avoiding being scammed. While the selling of timeshare has long had a poor reputation for hard selling and dishonesty, the buying and offering of timeshare is not immune either. There are many dishonest operators being investigated by regulators worldwide, and they all operate in a fundamentally similar way. The main key sign to watch out for is being asked for money in advance. The scam broker will claim to be able to put you in touch with a buyer, provided you pay the brokerage fee up front.
In order to convince you that the brokerage fee is worth paying, the broker will try to make out that the timeshare is worth far more than it really is. Then, you will be enticed to go and visit the buyer at the resort, where you will then be told the truth about the value of your timeshare points. You will be offered the chance to offload them for next to nothing, and the fake broker will have won either way. The buyer who will offer to buy your timeshare for a pittance will usually be a sister company of the dishonest broker.
It is absolutely essential that you do not even look at any deal where you are asked to pay money up front. A genuine broker would simply sell the timeshare on commission, and take a cut once the sale had been made. Either use such a broker, or just put the timeshare up for sale yourself as an independent vendor. If you go for a private sale, make sure you have all of the paperwork to be able to prove genuine ownership, and make sure that the resort will back you up. If you are a genuine seller able to prove your case, you will stand out in a market where there is so much uncertainty.
Have a look at competing listings to get an idea of the value of your timeshare, and don’t be in too much of a hurry to sell. Don’t be afraid to ask for a good price, because you can always lower it if you have no success. If you price too low, and someone takes your offer straight away, it is too late to increase the price. Correct pricing and proof are the most important factors in how to sell your timeshare.
