There are not many things more difficult then selling a timeshare. Even with the multitude of people that say they can help you. Unfortunately, many of these people are ready to take advantage of you lack of comfort and insecurity of the market. The Internet has countless stores of fraudsters that have robed timeshare owners of their property and money. Fortunately for you, there are things that you can do to help ensure you have a fighting chance of selling you timeshare without hurting your pride.
Tip #1: Know Your Position
You should know and understand that selling a timeshare can be very hard. Indeed, selling a timeshare and making a profit is practically impossible. The reason this is so is simply because the demand for vacation timeshares is far smaller than the supply of timeshares on the market. This can be understandably discouraging. But, knowing that before you look at your options can help you manage your expectations.
Tip #2: Know Your Limitations
Most people buy timeshares from a developer. The developer has spent a lot of money to promote each one. They can afford to do this because their expenses are spread over many units in the same resort.
When you sell a timeshare you are not going to host a potential buyer to a weekend, all-expenses paid vacation to make a sales pitch to them. The people that want to buy timeshares usually do not know they can buy them from private parties. These two factors show that you have a very limited market of potential buyers to sell to.
Tip #3: Price To Sell and Know the Market
You already realize you may need to take a significant loss in order to sell your timeshare. Check the prices of what other timeshare resales have sold for recently. Ignore the list prices. You need to see what the selling prices were to gage your market correctly.
Tip #4: Advertise in a Cost-Effective manner
Placing an ad in newspapers or magazines can become expensive quickly. Instead, advertise your vacation timeshare on the Internet. Post free classified ads online in as many venues as you can find. Look for newsgroups that are devoted to timeshares, rental properties and travel. Post ads on eBay and CraigsList. Also, look for websites that are devoted to the timeshare marketplace and check to see if you can post inexpensive classified ads there. For example, websites such as Tug2.net offer a 3-month classified ad for only $10. People who are seeking to buy a timeshare are likely visiting these types of websites.
Bonus Tip #5: Brokers
Consider a resale broker if selling your timeshare is urgent. A good broker will help you get exposure for your timeshare and help you sell it. Just keep in mind that a broker can be expensive. Normally they charge an upfront fee on the sale. Don t let this stop you from asking them if they will for on commission only without the extra fee. This will allow you to only pay them when a sale is actually made.
Remember, there are a lot of pitfalls when it is time to sell your timeshare. Scammers are just waiting to take advantage of your ignorance. However when you are armed with the right information you will be protected. Keep the tips you learned here in mind and research as much as you can. With good information and the right perspective, you will sell your vacation timeshare.