Having been dragged down for ages by bad a reputation and confusing product issues, timeshares need a complete overhaul when it comes to helping their owners sell their timeshares.
At least that’s how they see it at MotleyFool.com – one of my very favorite common sense investing websites. In fact they say, “Another reason is the old-fashioned model timeshare companies use to market their product – giving away free stays and major enticements and then paying hefty commissions to the sales staff . . . Timeshare companies need to quit thinking no one wants their product without a serious sales pitch.”
Timeshare owners are also quickly becoming the number one competitor with the resorts when it comes to timeshare sales. Eventually timeshare owners decide to sell their timeshare. They all do. Circumstances change, maintenance fees become bothersome, or the owners just don’t use their timeshare like they used to.
“Resorts and timeshare companies are increasingly finding that they have to compete with timeshare owners to make sales. Yet few resort companies seem to recognize the threat that online timeshare resale outlets pose.”
So rather than fight against timeshare resales by attacking the industry’s reputation, joining the effort and giving timeshare owners a valid way to sell their timeshare would certainly be a better way.
Ready to sell your timeshare? Here are some basics:
- Research other time shares and hotels in the area and find something your time share has that other vacation options don’t.
- Price competitively. Time shares in the same resort can be nearly identical. Check local ads for other time shares for sale in your building and price yours lower.
- Time your sale. List your time share a month or two before the start of the vacation season, when the majority of potential buyers will be looking.
Watch out for resale companies that offer to “take the time share off your hands” or want large sums of money upfront – they’re likely scams. Compare prices with other resale companies and get everything in writing – including contract terms, marketing plans, refund policies and costs – before you agree to anything.
Above all use the services of a timeshare resale broker. That way you will have the peace of mind you are using a professional whose credentials will keep them honest in all they do.
Once your timeshare is sold, the maintenance fees will finally be gone along with the headache of wondering what to do with the “family timeshare”.