Before making the decision to sell a timeshare, the owner should to be aware of the potential pitfalls — and how to avoid them. The first step to getting the highest return possible on a timeshare is assessing the market. If interest rates are low, more people will be inclined to take out loans and buy vacation properties. Similarly, if the general economy is in good shape, it will be easier to sell a timeshare.
Generally speaking, it is very difficult to make money on a timeshare investment, even if the property in the timeshare resort is in relatively high demand. This is because a significant portion of the initial cost of the timeshare includes the direct to consumer marketing costs, which many timeshare owners find difficult to recoup. A good way to estimate how much can be made from a timeshare resale is to take a look at what similar timeshares in the area are currently selling for. Usually, those looking to sell a timeshare can get a fairly good idea of what their property is worth just by doing some basic research online.
The demand for most timeshares is significantly lower than the overall supply, so many real estate agents will try to take advantage of those who need to sell a timeshare quickly. As a result, those who are willing to sit on their property and wait for prime market conditions will almost always see the greatest rate of return on their investment. It should be noted that no credible real estate agent will ask for an up-front fee to help sell a timeshare property. Any real estate agent worth doing business with will only assess a fee after the property has been sold.
Those who want to sell a timeshare will find that some of the best advertising can also be the most affordable. The Internet provides all kinds of opportunities for people who want to get their timeshare property in front of potential buyers, and sellers should consider placing their listing on both local and national websites. Properties in high-demand areas with lots of activities for tourists to take advantage of should be described as such, which can help snag a premium price for sellers.
People who encounter problems while trying to sell a timeshare should consider sweetening the deal for potential buyers. Some people have had success by offering to pay the annual maintenance fees for the first year or two, while others prefer to include transferable resort or hotel points. Anything extra that is included, even if it is technically low in monetary value, can help to differentiate one timeshare from all of the others currently on the market and make it more attractive to buyers.
