May 7th, 2009 — Selling Tips
Reassure your potential buyers about what other owners or vacationers think about the place. Talk to your neighbors and other timeshare owners ahead of time and ask them if they mind if you give their contact info to your potential buyers. The buyers may feel like they are getting more unbiased answers to their questions coming from someone other than the seller.
Explain to the buyers how they can go about getting the dates that they want. The purpose of buying a timeshare is to have convenient vacations every year. So reassure them that getting the dates they want can happen.
Give the buyers an accurate history of the fees associated with the timeshare. If you are suffering from fee increases, it is best just to be honest. Buyers will trust you more if you are upfront about everything, both good and bad. Of course, there are always ways to spin it so that the fees do not seem so bad. On the other hand, if you have not had any fee increases in a long while this is a huge selling point.
Give your potential buyers a description of the management company. Especially if you are happy with how your timeshare property has been managed and maintained. It is good to give specific examples of their good work.
Another good thing to do when selling timeshares is to talk about any improvements that are coming in the future. Let your buyers know if a remodel is expected or if upgrades will be made to your unit. These types of things can increase the value of the timeshare and will help your buyer feel like they are getting more for their money.
Lastly, when you are selling timeshares be sure to talk about how much you have enjoyed vacationing there. Show pictures and talk about good times you have had. Let your buyers know how long you have been coming there and how many memories you have made with your loved ones. Playing to a potential buyer’s emotions can work in your favor.
It is possible to sell a timeshare with a little bit of work. In my opinion, I think it is best when selling timeshares to play up the vacation aspect of it. For example, if you have a las vegas timeshares, talk about how it is cheaper to vacation in a timeshare than without one. If you have savvy potential buyers and try to talk about how it is a good investment property then you will probably lose the sale.
February 20th, 2009 — Timeshare Info
There are several reasons why you may be thinking about selling your timeshare. Maybe you are losing privileges at the location where the timeshare is located. This can make fractional ownership less attractive.
Are your maintenance fees continually increasing and making it no longer affordable for you? In this case, you may want to unload your timeshare ownership to avoid all the increasing costs associated with it. Some people do not use their timeshare as they probably should. In this case, the expense of the timeshare purchase is not justified because you are not even using the property at all.
In some cases, timeshares are inherited from the death of someone who owned a timeshare. However, maybe you as the beneficiary are just not interested in owning the property and would like to sell it instead. Or maybe you just feel like it is a good time to sell your timeshare and that you could make a profit off of it (this would be a very rare circumstance).
These are just a few of the many reasons why there is a very large market for selling timeshares. This is good news if you are selling. There are many reputable companies that can help and make the process easier and the most profitable. When measuring profitability, keep in mind how much you have gained by using the timeshare. Typically, it is considered a good deal if you can sell a timeshare for what you paid for it. In this case, it is profitable because you were able to enjoy the property and therefore you got more out of it than you put into it.
The best case scenario for selling a timeshare would be to find a licensed agent that does not charge any fees upfront for listings and appraisals. These agents work just like any other real estate agent and they make money only when the deal is closed. This offers the seller the guarantee that the agent is going to sell the property as quickly as possible and for as much money as possible. Obviously, this is because the more money they can sell the timeshare for the more money they can make.
So if you have invested into a timeshare and have decided that you want to sell it, go ahead and start researching agents. It is always possible that you could sell the timeshare on your own, just like a home can be sold “by owner”. This would of course save you real estate fees.
There are pros and cons for selling a timeshare by owner as well as with an agent. These issues will be continue to be discussed on this website.
