WHO SHOULD HELP ME SELL MY TIMESHARE? HOW DO I CHOOSE?
There are so many companies that SAY they can help you sell your timeshare. How do you choose? This article will help you answer this question, and will debunk many myths about selling a timeshare.
What does it take to sell a Timeshare?
I would answer the question with another question. How did the developer that you bought the timeshare from sell it? The answer is twofold. First, they obtained exposure for their inventory through advertising. Second, they had a vehicle to have potential buyers stay in the units they want to sell. If the person that wants to help you sell your timeshare does not do those 2 things, then they will ultimately fail in selling your timeshare.
Should I use a Real Estate Broker?
Absolutely not. This is not just a good idea badly executed; it is just a BAD IDEA.
Let’s focus on the two things necessary to sell a timeshare—exposure and usage by a potential buyer.
Brokers do not advertise. That is simply not their expertise. They wait for buyers to call them.
The only way to get exposure is through ADVERTISING. By definition, brokers are not experts in advertising. If you want advertising, then GO TO AN ADVERTISING COMPANY. Advertising companies specialize in advertising.
Real Estate brokers go where the big commissions are, and cannot be bothered with selling your timeshare. Real estate brokers specialize in selling all types of real estate. They look for the biggest potential transaction that they can find, and they sell those deals. What deals do they devote most of their attention to? Of course, it is the deal that will make them the most money. Real estate brokers spend most of their time selling large commercial deals or single-family homes because that is how they generate the most in commissions!
Timeshares do net generate the most in commissions. Would you rather spend your time selling $500,000 single-family homes or a $50,000 timeshare? The answer is obvious.
They may tell you that they “specialize in timeshares” but it always gets back to the same question. Sell the $500,000 deal or the $50,000. What will they do? You know the answer.
Getting a buyer in your timeshare.
Real estate brokers are also not equipped to get a potential buyer into your timeshare. Again, they make their money from the sale. They cannot concern themselves with renting a timeshare for a week. They are not travel agents.
The other problem—brokers are very expensive.
Not only do they want a commission on the sale, but they also want an upfront advertising or marketing fee. This means that you are paying TWICE! Once upfront, and once upon the sale.
And to add insult to injury, they are not experts in advertising or marketing!
The fact is that selling through a real estate broker is not effective, and is way too expensive.
Selling through a “by owner” company is clearly the way to go.
But what should you be looking for in a by owner company?
First, you should use a company that specializes in creating exposure for your timeshare, because that is one of the two things that will sell your timeshare. What you really need is a company that specializes in advertising and marketing!
Through advertising and marketing, a by owner company should make as many people aware that your timeshare is available for sale as is possible.
This means, TV, radio, magazine, newspaper, Internet, billboards.
THE REALLY GOOD ONES WILL DIRECT MAIL PEOPLE THAT HAVE GONE ON TIMESHARE TOURS WHO ARE INTERESTED IN BUYING A TIMESHARE.
Most companies do not do any of these things for you. If they say that they do, ask to see their advertising.
You will not hear from them after you insist that you see this.
You cannot sell something if no one knows that it is for sale. Also, the more people know that it is for sale, the better for the seller.
Where do potential buyers go to buy a timeshare?
They go to the place that they believe has the greatest selection of timeshares. That is why so many people would rather go to Best Buy to buy a TV. The same common sense rule applies to selling your timeshare. Buyers will go to the place where there is the best selection.
How do I get potential buyers in the unit?
You rent the unit to them. A by owner company will have a program to help you do just that. Once you rent your timeshare to the potential buyer, you know that they are interested in it. You are a very short step away from selling your timeshare to them. Now you know that they are interested in YOUR timeshare.
Use a Specialist.
Use a company that specializes in timeshare. If they do not specialize in this, they will not be effective.
Would you go to an orthopedist to get your eyes examined? Of course not. It seems so obvious, but it is so true. Use someone that specializes in selling and renting timeshares.
Use a Company that is Licensed and Bonded.
Reputable companies are licensed by the State that they operate in. The licensing agencies of the State protect you against unscrupulous companies. If a company is not licensed and bonded, chances are that they could not get licensed. That is a major red flag. Ask for their telemarketing license number and the telephone number of the State-licensing agency. If they cannot give it to you, run for the hills!!!!
Bonded companies provide extra protection.
The best companies have posted a surety bond for the protection of consumers. This means that if the company defrauds you, and they go out of business, you can still recover your losses from the surety bond.
This is like having an insurance policy protecting your for sale/for rent by owner investment.
THIS BLOG HAS BEEN PROVIDED TO YOU COMPLIMENTS OF TIMESHARES BY OWNER, AND THE TIMESHARE TRADER MAGAZINE. TIMESHARES BY OWNER IS A LICENSED AND BONDED COMPANY THAT SPECIALIZES IN ADVERTISING TIMESHARES FOR SALE OR FOR RENT BY OWNER. THE TIMESHARE TRADER MAGAZINE IS A MAGAZINE DISSEMINATED TO POTENTIAL TIMESHARE BUYERS THROUGHOUT THE WORLD.
© Timeshares Direct, Inc. 2006. All Rights Reserved