When contemplating selling your timeshare there are a variety of factors you should consider before taking the first step: the reason for selling, the potential listing price, marketing options, reseller options and associated fees. Selling your timeshare does not have to be a stressful experience. With a simple plan, you may be able to gain a reasonable expectation for return on the timeshare property. Additionally, you should be able to gain the confidence to avoid the most common scams.
When selling your timeshare, it is important to consider the reason you have decided to sell the property. The reason for selling your timeshare will influence the time-frame for selling. If the reason isn't pressing, you may be able to sell at a time that is more financially opportune. Urgency can also directly affect the profit or loss you are willing to accept.
When researching the price, you will likely find a wide array of prices that other timeshares are selling for. Some common errors people make when selling timeshares include trying to recoup their investments, treating timeshares as traditional properties, and not accounting for current market trends. These factors generally cause sellers to overestimate the value of their timeshare.
Timeshare values are determined by a variety of factors including the time of the year that your timeshare becomes available, the amenities your timeshare affords, and the location of the property. Proper research can help determine a fair market value for your timeshare. Completed sales in the same resort or area will also be useful. One strategy for selling timeshares is to list the property on the low end of the spectrum. Sometimes, it is a buyers’ market and overpricing your timeshare could turn away potential buyers. Other times this won't be a wise approach. Getting advice from an experienced professional might also help you make the right decision.
While marketing your timeshare can be time and energy intensive, the money you make is not shared with a professional timeshare reseller. Common advice for selling timeshares yourself is to post your timeshare property on popular auction websites and timeshare exchange networks. These can often be time consuming, but if it's done right, it can prove beneficial.
Another strategy for selling timeshares is to work with a reseller. Using a company that has a commission structure means they only get paid when your timeshare sells. Reputable timeshare resellers tend to be a one-stop-shop. They will actively market your timeshare, be up front with any associated legal fees and be transparent with the commission percentage. Be very wary of any company that requires any upfront payment for selling timeshares.
