Everyone wants, needs and deserves a vacation. Rest and relaxation are commodities that mean big business. Timeshares are among the most bought and sold properties on today's market.
Like any real estate transaction, selling a timeshare property can be confusing. Values fluctuate, and owners can sometimes realize a profit loss when it comes time to sell. It's easy for illegitimate or even illegal resale companies and consultants to prey on confused or desperate sellers. If you have a timeshare property to sell, you need to know the facts and protect yourself from possible scams.
Scams
Be wary and on constant lookout for scams when selling your timeshare. Don't believe everyone who calls claiming to have buyers willing to pay top dollar for your timeshare property, especially if they request fees upfront to "guarantee" a sale. Chances are, you will not get the same amount for your timeshare that you initially paid for it.
Price competitively
Selling your timeshare requires that you price the property competitively in the market. Buyers are looking for a good deal, so be prepared to give it to them. Find other properties in the same resort, and price yours competitively. Consider the week that you own the timeshare; if it's during prime season, you'll be able to increase your price dramatically. Selling timeshares during the off-season can be harder and will net you less profit than selling the same unit during peak vacation time. You'll have plenty of competition, so don't price your timeshare any higher than what you will actually take.
Research
Gather as much information as possible about the market and comparable properties. Compare what you have to offer to similar timeshare properties currently listed or recently sold. This can help you sell your vacation property quickly and properly. A reputable timeshare company can be of assistance to you in locating this information.
Advertise
Timeshare and advertising companies can offer valuable services to give your property maximum exposure to potential buyers. If you choose to use a service, do not accept or sign any agreement that will lock you in to an exclusive arrangement, keeping you from advertising or marketing your timeshare property with other companies. Limiting your advertising avenues can prolong the time it takes to close a deal.
Whether you choose to advertise your timeshare solo, or through the use of a service, be sure to list your property with complete details and descriptions. Post pictures in publications, and include video on any advertising websites. When selling your timeshare, you have many options, including the Internet, to maximize the exposure of your personal marketing plan. To reach as many prospective buyers as possible, utilize several types of media to advertise your property.
Direct Marketing is also an ideal way to advertise and sell your timeshare. To utilize this form of advertisement, use a combination of direct mail, e-mail and telephone contacts to reach potential buyers.
Direct mail offers a very personal approach in advertising and selling timeshares. Potential buyers are addressed personally with letters sent in various forms. The letters will include your property along with other timeshares available, with descriptions and details needed to entice reservations and inquiries.
Selling timeshares with creative and informative radio or television commercials should also be considered.
Strategically placed billboard advertising is a great way to reach many potential buyers. Timeshare companies will purchase billboards in locations frequented by vacationers. Orlando, Florida is home to one of the highest numbers of billboard advertising timeshares, drawing the attention of nearly 70 million potential buyers or renters annually.
When selling your timeshare, remember that patience is definitely a virtue. While this may seem cliché, even the most well established timeshare companies will tell you that their expertise in the field cannot predict when your property will sell.
To be successful in selling your timeshare, you need to establish two major factors: list at a competitive price, and create good advertising exposure. Combining these two factors will help you be successful in selling your timeshare more quickly. If the timeshare is overpriced or under advertised, the sale may take longer than you expect.
Enter the selling experience with realistic expectations and a little patience, and your timeshare will sell more quickly and easily.
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Elizabeth Thomas contributes articles to several Internet magazines, on technology and business themes.
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