Must-Read Information for Anyone Interested in Selling a Timeshare
With multiple timeshare resale companies to choose from, many owners become frustrated with the process. We've assembled a list of important factors to consider, while making your decision. Whether or not you choose us to help sell your timeshare, by following these simple tips you can feel confident knowing you've made an informed choice of representation.
1. Evaluate Web Presence – Since the only place timeshare resales are sold is the internet, you should visit the company’s website and evaluate the quality of their timeshare presentation.
- Is the website easy to find (without knowing the company's name)? Most buyers will search for your timeshare resort's name, when they're ready to act.
- Can you easily locate a specific timeshare for sale? Today's shoppers won't waste time on endless clicks while trying to find a listing.
- Does the site appear designed for buyers or sellers? If most of the information on a website is for sellers, then most of the visitors to that site are sellers.
- How easily can you make an offer? Is timeshare financing available to make it easy to buy your timeshare?
2. Review Terms & Conditions – All timeshare resale companies should be able to provide you a link to detailed terms and conditions for their services, before you agree to list. Review and analyze the terms carefully.
- How long will your timeshare resale be advertised? You can't predict the future; when paying a fee to sell your timeshare, your property should be advertised until sold - no matter how fast or slow.
- Is there a fee, or other condition, required to renew your ad? Resale services you can trust don't come with fine print.
- Are there additional costs once you sell the timeshare? Take time to make sure you understand all the fees associated with the service.
- What if you find a buyer on your own after listing? If you sell the timeshare on your own first, Bay Tree will give you a full refund.
3. Let Your Timeshare Determine the Right Resale Company – With over 5,000 timeshare resorts, and a myriad of ownership formats, no two properties are alike. Access whether the resale company’s approach to selling timeshare is right for your specific ownership.
- Are there similar timeshares listed for sale? Timeshare resale companies that have similarly priced listings will have experience with your caliber timeshare.
- Would your asking price be the highest, or the lowest? Is the look and feel of the company’s website, and marketing materials, consistent with the timeshare you own? You don't want to buy the most expensive house on the block, or the least. Sell your property with a company that's brand reflects your resort.
- Would you feel comfortable buying timeshare through their service? Remember how you felt while you were buying the unit, then consider your comfort level with the timeshare resale company.
4. Assess the Company’s Reputation – Once you've chosen from the available timeshare resale companies, they'll become the spokesman for your timeshare. Before making your decision, investigate the company's consumer record. All large corporations receive complaints, but a severely tarnished reputation could scare off a potential timeshare buyer.
- What type of record does the company have with the Better Business Bureau? How well are complaints addressed? While membership with the BBB is not always indicative of quality, successful companies always respond promptly to complaints.
- Is the company a member of ARDA? Members of the American Resort Development Association have agreed to abide by a code of ethics that protects consumers. Verify membership at www.arda.org.
- How long have they been in business? New companies can be great companies, but years of experience are priceless.
- Compared to other timeshare resale companies is their marketing approach mostly positive, or mostly negative? If an agency is using lots of negative language in their marketing, while charging you to sell your timeshare, it's natural to wonder where their true motivations lie.
What to Avoid
- Companies claiming to be able to cancel your contract past the initial 3-10 cancellation window. These companies will advise you to perjure yourself; risking civil and criminal penalties down the road.
- Promises of pre-existing buyers for your timeshare.
- Guarantee of a specific selling price.
- Any companies with a conflicting business relationship with your resort.
- A pre-specified sale date.
- Timeshare resale companies with negative reviews of your property on their website.
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