We Are Often Asked: “How Do I Sell My Timeshare?”
Have you thought about selling your timeshare property recently? Those who have timeshares may feel as though they want to get out of the timeshare they currently own. One of the most common reasons for this is they may have a change in finances that necessitates that they sell the timeshare. Regardless of the reason, prospective sellers need to make sure that they are selling through a company that they are going to be able to trust. This means that research is in order before you sign with a company to help you sell your timeshare.
The following are some of the things that you are going to want to look for with these companies. If they are unable to offer the following, it is a good idea to take your business and your timeshare elsewhere for a sale.
Licensed Realtors with Experience
One of the first things that you should look for when you are going to sell your timeshare is a company that is going to be able to provide you with actual licensed realtors to handle your transactions. Not all companies have realtors, and even those companies that do may not have the experience that you need when you are selling your timeshare. You always want to know what the sellers are able to bring to the table in terms of their experience.
A Full Service Company
It is also important to have a company that is going to be able to help you through every step of the selling process. Having a company that is going to help find buyers who are qualified and who have an actual interest in your property is an important step of the process, and you need help from a company with experience here. The company should also be able to negotiate for you so that you are able to get a good price for your timeshare when you sell.
No Fees Upfront
Some companies will try to charge upfront fees when they are selling your timeshare for you. If they already have the fees, you have to wonder how motivated are those companies going to be when it comes to selling your timeshare. If they are making money from the fees they are charging you, many would not have the drive needed to work as hard for you. Choose a company that is not going to charge you any upfront fees. Look at how the company makes money. They should make their money as a percentage after closing. This ensures that they are going to try to get the most money possible for your timeshare, and that they are going to work hard to sell for you.
A Dose of Realism
The company that is selling the timeshare for you should also be honest with you about your timeshare and the possibility of how long it could take your sale to go through. While timeshares are still popular, that does not mean that you are going to be able to list a timeshare today and sell tomorrow! Many factors, such as the condition of the property and the location of the property, not to mention the price, are all going to be large factors in the process.
Respect in the Field
Another one of the things that you will want to consider when you are choosing a company for your timeshare sale is just how others view them. Specifically, you want to know how the Better Business Bureau views the company. When you are working with a company that has accreditation from the BBB, you will find that they are generally going to be reliable and trustworthy, which is something that you need when you are selling essentially your interest in a property.
The preceding are some of the most important things that you will want to consider as you start looking at companies to help with your sale. Do not make the mistake of rushing too quickly into the fold of a company that you do not research. If you do, you might find that they take advantage, net you a lower price, or take forever to sell your property while collecting fees from you.
Selling Your Timeshare with the Right Company
If you have a timeshare property and you are looking to sell, you will be happy to know that it is entirely possible to do. Of course, it is very important that you make sure you are selling it using the right company. You must make sure that you are working with a company that you are going to be able to trust and that will be able to help you to get the right price for the timeshare with reasonable commissions.
People find a need to sell a timeshare for many different reasons. Some find that they can’t spend the time there they wish they could, while others are looking to buy a new timeshare elsewhere. Others find that they are no longer able to pay for the timeshare due to a lost job or other change in life. No matter the reason, there might just come a time when you have to sell. Here are some tips that will help ensure you are working with the top companies when it comes to selling.
Tip #1: Do Your Research
Before you bought a home, you did research. You made sure that you found a home that was within your budget, in the area you wanted to live, and that had the features you needed. You probably researched the realtor you worked with as well. You did the same thing when you were getting a new vehicle. Why would you do any less with a timeshare resale company? You have to make sure that you are looking into the history of the company to see how long they’ve been in business. You want to know whether they have a good standing in the field and what actual customers who have used them have to say. The BBB is a good place to start. The more information you have about the company the better off you are going to be. Never skimp on the research.
Tip #2: Use Companies that Have Real Licensed Brokers
You will find that many of the companies out there offering to help you sell that timeshare are not actual brokers and realtors at all. This is where many people make a mistake. You always want to make sure that you are working with a company that has licensed real estate brokers who are realtors and who know the business. You want to make sure that the company has accreditation from the BBB as well.
Tip #3: Understand the Finances of the Deal
You also need to make sure that you understand the finances involved. The timeshare resale company is going to make a commission, but you want to know just how much that commission is going to be before you sign anything. You also want to know when you are going to have to pay the commission. When you are working with a reputable company, you will find that you do not have to pay anything until after they sell your timeshare and the transaction completes. This is a far better solution to a company that charges any upfront advance fees for their services. It is going to help ensure that they are really working hard to sell that timeshare.
Tip #4: Ask Plenty of Questions
If this is your first time selling a timeshare, then you are probably going to have quite a few questions. Make sure that you ask all of the questions about the sale before you sign anything with the company. They should be forthright about their business, and they should be able to answer all of your questions to your satisfaction. If they start speaking in terms that you do not understand, make sure that you tell them so that they can explain things in a manner that most people can get. Some of the questions that you might want to ask include the length of time that it takes on average to sell a timeshare, and how the sales process is going to work.
These are some of the best and simplest tips that you are going to want to keep in mind and utilize when you are getting ready to sell your timeshare. Start your search for a reputable company that will be able to help you with the selling of your timeshare today.
Timeshare Broker Sales is a licensed REALTOR® (a member of the Licensed Timeshare Resale Brokers Association), and a BBB Accredited Business. We are timeshare resale specialists for Hilton Grand Vacations Club worldwide, and other premium resort developers such as Marriott, Starwood, Disney and Hyatt.
For timeshare sellers, our listing services are hassle-free. We never charge advance fees, collecting payment only once your timeshare is sold. If you would like to list with us, simply fill out our Free Listing Application. Or if you are curious what your timeshare is worth, please fill out the Free Market Survey form to tell us more about your timeshare.
Check out this short video about selling your timeshare with us! We could list dozens of reasons you should sell your vacation ownership property with the friendly and knowledgeable timeshare brokers hare at TBS, but that would make a really long video. Instead, we chose our favorites – the top four reasons to sell your timeshare here with us at Timeshare Broker Sales.
We’ve summarized below, but isn’t it always more fun to watch a video?!
- Licensed real estate agents that specialize in selling timeshares – it’s all we do, every day!
- No Upfront Fees to sell your timeshare, ever – just pay a percentage based commission at closing.
- Complete timeshare brokerage services – we’ll find qualified buyers and negotiate on your behalf: we’ve got you covered from start to finish
- BBB Accredited Business – signifies trust, reliability and honesty – we’ve never had a complaint!
Need more reasons to sell your timeshare with TBS? Follow us on Facebook, Pinterest or Twitter to catch up with us all over the web. And don’t be afraid to call for more information – there’s no question about selling your timeshare that we cant help answer. So don’t wait, contact us today at: 800-985-9946 to learn more.
Every year millions of people fall victim to scammers when trying to buy a timeshare or sell their timeshare. In fact, a recent Forbes article stated that “timeshare gripes were the fastest-growing category” of consumer complaints in 2012.
The unfortunate truth is that timeshare scammers prey on vulnerable individuals who are often in desperate financial situations. But don’t lose hope. If you know what to look for, you can easily spot a potential timeshare scammer. If your potential reseller meets any or all of the criteria below, back away slowly.
They Initiated Contact – Beware of any “timeshare reseller” that initiates contact with you. Cold callers represent by far the largest single group of timeshare scammers. All told, cold-callers have stolen nearly $1 billion from innocent consumers. Most ‘cold-callers’ have gleaned your information from a list of owner’s names they purchased. Many times, cold-callers will try to convince you they’ve got a buyer already lined up or even that they’ve already sold your timeshare and just need a check to cover the closing costs. Don’t fall for it!
They Require for an Upfront Fee – You should never pay an upfront fee to sell your timeshare. In most cases, you should treat a timeshare like you would any other real estate transaction and work with a licensed real estate broker. Choosing a real estate broker who specializes in timeshares will help you sell your property safely and securely; with a commission paid only at the time of sale. We believe that paying an upfront fee is the number one mistake timeshare sellers make.
They Aren’t BBB Accredited – The BBB is a nonprofit organization focused on advancing marketplace trust. Serving as an intermediary between consumers and businesses, the BBB alerts the public to scams and handles consumer complaints. Check for BBB accreditation and don’t take a badge on the website as a sure sign. Anyone can copy and paste a logo onto their website. A legitimate time share broker will link the icon to their actual BBB rating.
They Don’t Have a Street Address – Most scam artists don’t want you to be able to locate them easily. After all, if you can find them easily, so can the authorities. That’s why they often only give an email address, cell phone number or a P.O. box. On the other hand, reputable companies DO want you to be able to contact them quickly and easily. They’ll offer several ways: telephone, physical address, email, fax, etc.
They Ask for Credit Card or Banking Information – You should never have to give credit card or bank account information to timeshare resellers upfront. A legitimate timeshare broker will will operate through a licensed closing company with secure escrow procedures.
Poor Grammar and Spelling Mistakes – Many times, scammers aren’t willing to invest in quality content. Sometimes, they purposely use nonsensical language to confuse consumers. Grammatical errors and spelling mistakes often indicate that the message was written by a scam artist in a foreign country. This type of nonsensical language is a common characteristic of a scam.
They Overuse Big, Important-Sounding Words – Scammers sometimes use official-sounding words like “national,” or “federal” or they display an official-looking seal to fool you into thinking they are legitimate. Scrutinize what you’re reading and perform a simple Google search to check the validity of their claims.
They Employ High Pressure Tactics – If a potential reseller acts in any way aggressive, or if he or she tries to force you into acting right away (thereby sacrificing the all-important research step), run for the hills. A legitimate company is more than happy for you to take your time researching their credibility, and will provide you with every resource available to help you do so.
It Sounds Too Too to Be True – Timeshare resellers may contact you with some pretty enticing claims. They might tell you they’ve got a buyer lined up to buy your timeshare, that the market in your area is “hot” and that they’re overwhelmed with buyer requests, or that they can guarantee a sale within a specific time. Be a skeptic. You can’t expect to get nearly what you paid for your timeshare from the developer. Get a free market survey to determine what your timeshare is really worth.
They Are Evasive or Withhold Details – Any company offering legitimate timeshare resales will provide you with all the information you need, without working to portray a false appearance of credibility; and will have verifiable references that you can contact.
So What Can You Do?
Contact the state Attorney General and local consumer protection agencies in the state where the reseller is located. Ask if any complaints are on file. You also can search online for complaints and check with the BBB.
Check the license. Ask for licensing information and verify it with the Real Estate Commission. Only deal with licensed brokers and always ask for references.
Before you sign a contract with a reseller, get the details of the terms and conditions of the contract. It should include: the services the reseller will perform; the fees, commissions, and other costs you must pay and when; and who is responsible for documenting and closing the sale.
By keeping your eyes open for the ten warning signs listed above, you can save a lot of trouble and money. If you suspect you’ve been scammed online, file a complaint with your state attorney general’s office and the Internet Crime Complaint Center (known as the IC3).
The IC3 not only collects complaints but also analyzes them, links similar complaints, and discerns patterns in order to help law enforcement identify the scammers.
We love finding good coverage of timeshare-related topics on mainstream media. We’ve recently stumbled upon some great advice at MSN Money that we’d like to make available to our website visitors.
The post, entitled: How to Buy and Sell Timeshares offers a comprehensive “overview” of timeshare resale best practices. Check it out and feel free to contact us with any questions about buying or selling vacation ownership property.
As addressed in the article, we are a licensed timeshare broker, a BBB accredited business, and we never charge an upfront fee to sell timeshare.
Selling a timeshare can be a tricky business; and there is all sorts of conflicting advice about how to sell a timeshare on the internet. So we thought we’d help. We put together our top three tips for selling your timeshare:
- Always Pay an upfront fee to sell your timeshare – it’s important to get the ball rolling. Plus, paying an upfront fee is a great way to ensure that a company already has your money; so you know they’ll do the right thing and work quickly to sell your timeshare.
- Don’t bother checking licensing or BBB accreditation – these things can waste precious selling time. If they have a website, or their agents sounded professional on the phone, there’s no reason to worry about their reputability.
- Don’t waste time with contracts – In today’s digital age, nobody uses contracts anymore. Besides, signing piles paperwork can delay proceedings, and could cost you the sale of your timeshare.
Bonus Tip: April Fools! Want to sell your timeshare safely and securely? Don’t follow any of the advice on this page.
Instead, contact one of our licensed (and BBB accredited) timeshare brokers. We’ll help you sell your timeshare on the resale market, and we never charge an upfront fee for our services.
Selling your timeshare can be a tricky business. Unfortunately, unprepared sellers too often fall victim to timeshare scams or ineffective marketing schemes. Many sellers find themselves in difficult financial situations and, out of desperation, make rash decisions without proper research. Others simply don’t know the warning-signs. So, what’s the number one mistake timeshare sellers make, and how can you protect yourself?
Paying an upfront fee is the number one mistake timeshare sellers make. Whether a company is selling you ad-space on their “highly visible” website, or promising to close the sale for a “ready and waiting” buyer – it’s rarely worth taking the risk to pay upfront for services.
Scammers trick vulnerable sellers into cutting them checks to “close a deal” while ad-sites charge a flat fee to list your property among thousands of others – with no guarantee of sale. After all, once they’ve got your money, what’s their incentive to sell your timeshare?
So What can Timeshare Sellers Do?
Always use a licensed timeshare broker to sell your timeshare. Timeshare brokers, like other real-estate agents, don’t collect any payment until the sale is complete. Brokers work on a commission basis, meaning they’ve got true incentive to sell your timeshare. Additionally, brokers must maintain licensing to practice – ensuring a measure of reputability and transparency.
Other Timeshare Selling No-No’s
Now that you know the number one timeshare selling sin, rethink your strategy. Take the time to research carefully, and consider the following final “no-no’s” before jumping into a sale:
- Under or Overestimating your Timeshare’s Worth – Don’t know how much your timeshare is worth? Get a free market survey or contact a licensed broker to find out how much your timeshare is worth and price accordingly.
- Forgetting to Check the BBB – Not sure if a resale company is BBB Accredited? Find out what the Better Business Bureau thinks about your potential reseller, and think twice about working with a company that isn’t listed or accredited.
- Being Afraid to Ask Questions – Too many sellers don’t ask important questions – like how a broker works to sell your timeshare, or what percentage commission they’ll make off the sale. The right brokerage company will take the time to make sure you understand the whole process.
So there you have it. Don’t fall victim to the number one mistake timeshare sellers make: never pay an upfront fee to sell your timeshare. Follow these simple suggestions, and choose a licensed broker for a safe, reliable resale experience.
Timeshare Broker Sales is a proud member of the Licensed Timeshare Resale Brokers Association. This morning, the Today Show recommended the LTRBA as a safe and reliable resource for selling your timeshare! Start the video at Minute 3:32 if you’re pressed for time.
LTRBA brokers are a trustworthy source of help for timeshare consumers. Buyers and Sellers can work with Licensed Resale Brokers who are matched to their needs. [LTRBA’s] “No Upfront Fees” policy ensures service and protects against fraud.
Always check your potential timeshare reseller against the LTRBA Member Directory. Check out our listing here!