Many timeshare owners find that they no longer want their vacation ownership. Perhaps they have buyer’s remorse from succumbing to high pressure sales tactics, or maybe the escalating maintenance fees are no longer affordable for them. Whatever the reason, a growing number of consumers are looking to sell their timeshare.
There are some things you should know about selling your timeshare before you do so. First, it is not as easy to sell as you might think. Timeshare resales have never been more difficult to market than they are now, and this is due to the oversupply of timeshares being offered for sale. In addition, because resales have never had any appreciation value, they do not make a good investment for the average buyer.
A reputable real estate broker that specializes in the timeshare industry should be able to help you determine what your timeshare is worth and how best to market it. A broker should not charge any upfront fees and will get paid only when you are successful in selling your timeshare.
Once you have determined what your timeshare is worth, it will be important to set a reasonable sale price for it. You should start by determining what you paid for the timeshare initially, and then take into account how many times you have actually vacationed at the resort. The more vacations you have taken, the more value your timeshare has.
If you decide to market your timeshare yourself, be sure to read eBay’s Timeshare Seller’s Guide. This will give you a great idea of what to expect in terms of advertising, fielding questions and ultimately being able to successfully transfer the timeshare to a new owner.
Also be aware that there are a lot of scams out there, especially on the internet. Beware of companies that contact you out of the blue, usually via telephone, claiming to be your home resort, your holiday exchange company or even ARDA (the industry trade association). Never, ever pay any upfront fee to sell your timeshare. These companies are often just trying to steal your information and your money.
If you do decide to go it alone, be sure to place your listing in the public listings on the major websites such as eBay and Craigslist. You should also consider posting an ad in your local newspaper. Many buyers may not use a website, but will look in the newspaper for the perfect timeshare to meet their vacation needs. In addition, check with your home resort to see if they have a bulletin board in the lobby or elevators where you can post a for-sale notice. Also, your home resort might offer a special internal rental or advertising program (upfront fee warning applies) where they can list your timeshare for you. Be aware, however, that they will probably only pay you a fraction of the resale value.