Who Will Buy My Timeshare? An Analysis of Resale Buyers
If you're a timeshare owner who wants to sell, it's important to understand the market of potential buyers, as well as their expectations. Before listing your timeshare with a company, ask 'who will buy my timeshare?' A resale firm with a deep understanding of the market should be able to give you a detailed answer.
BayTreeSolutions.com has identified three specific tiers of potential timeshare resale buyers. Each 'tier' has closely associated buying habits unique to its market subset. By developing unique strategies for each type of buyer, and focusing on the buyers likely to purchase at near-retail pricing, we can sell timeshare effectively and affordably.
Tier One Timeshare Buyers – Our Focus: Highest Offers, Hardest to Reach
This group consists of the approximately 20% of people who take a timeshare tour, and who are seriously interested in buying. Roughly ½ of these will have bought timeshare on tour, while the other ½ would have bought except for: price, pressure, or financing. We market to this group constantly, as they are by-far the most excited, and have the highest perception of the timeshare's value. When reaching out to Tier One timeshare buyers, time is of the essence.
Most states allow between 2 and 10 days for a timeshare purchaser to back out of the sale (rescind.) During this fragile time, locating a lower priced timeshare resale is a leading cause of recission. Since developers have spent thousands on marketing to sell each timeshare, these rescissions are particularly costly, and have pitted developers against timeshare resale companies in an often-bitter battle for buyers. Imagine if, just after buying the timeshare you own now, you'd been given the opportunity to cancel with the resort, save $2-5k on the timeshare, and lower your interest rate 5-7% - would you have taken it?
The remaining Tier One buyers will have a 'substantial' interest in buying timeshare, peaking just after leaving the tour, and subsiding quickly over the following weeks. Many of these people report 'feelings of loss' immediately after refusing to buy timeshare on tour. They're often afraid that the 'Special Deal' the last manager offered them will never come around again. When these families discover the resale market, they're often overjoyed with the reasonable prices, and low-pressure approach. However, as memories of the vacation fade, so does the desire to buy timeshare: Effective marketing must work fast!
Tier Two Timeshare Buyers – Make Buying Decisions Easily, Expect Lower Prices
The potential timeshare buyers in Tier Two already own a timeshare, or know someone who does. This group is comprised of existing owners at your resort, their friends and family, and timeshare owners that have 'exchanged' to your resort. These buyers have more timeshare knowledge, and generally expect to pay lower prices, but marketing to this group is essential.
Since they've experienced the value of owning a timeshare, Tier Two buyers have a genuine interest in buying more – without a high-pressure presentation. While their initial offer might be lower, these buyers will often negotiate; They know the price they pay for your timeshare reflects on the value of what they already own.
Tier Three Timeshare Buyers – Buy Low, Easy Sale: Speculators, Investors, Veteran Owners
This group of buyers rarely have an interest in using your timeshare – which should be a red flag to owners that know timeshares only make sense if you use them. Tier Three buyers tend to avoid companies like Bay Tree, and we intentionally omit them from our marketing efforts. While this group will agree to a quick sale and closing, their offers rarely exceed a few hundred dollars. By actively disparaging timeshare values throughout the internet, these cynical buyers are able to buy low and sell for a profit.
Since Tier Three is the easiest group to market, many low-cost or low-budget timeshare resale companies will zero in on these buyers. Unfortunately, donating the timeshare to a charity is usually a better financial decision than selling at this price point. (Consult your accountant.)
Marketing Solutions that Sell Timeshare
At BayTreeSolutions.com, we know the answer to 'Who will buy my timeshare?' and we have a deep understanding of the market. By target marketing only Tier One and Tier Two buyers, we bring our clients the fair, solid, offers they want. Selling your timeshare just isn't a DIY project – we've already done the research, and developed a resale program that works. Contact us now for a no-obligation consultation.