Tips to Sell a Timeshare Without Incurring a Loss
4 tips to sell a timeshare without incurring a loss
- Determine your timeshare’s worth properly
Your property should be estimated at approximately 10% to 30% more than your margin. If you are planning to work with a licensed resale company, you will have to pay them their given commission. But even if you are selling your property at cost, make sure to evaluate your timeshare correctly.
- Avoid resale companies
As mentioned earlier, resale companies have a reputation for tricking their clients. They charge anywhere between $3000 to $5000 upfront. When you pay the amount, you never get the help you were promised. Besides, most brokers admit that resale companies tend to pitch the same property to 50 different buyers. They swindle money from various buyers, so the sellers get trapped in the sale. Safe to say, you don’t want to get stuck in this dynamic. Option for a licensed resale company. They may be relatively expensive, but they will help you release your property without any scams.
- Target the right audience
If you are finding it difficult to sell your timeshare, it is probably because you are not properly filtering your leads. You might want to knock at a millennial’s door. According to a survey, this demographic is the most active one in the timeshare market. The idea of shared ownership aligns with their buying patterns. Millennials perceive a timeshare property as an environmentally conscious choice. Sharing ownership allows them to lower their net carbon footprint because they are using fewer resources for leisure. Timeshares also have high social media value, which makes millennials the perfect target demographic. If you want to strike gold in fewer attempts, seek out millennials to speed up your selling process.
- Spend time building trust with your buyer
Some of the greatest real estate agents agree that trust is the most resourceful tool in selling a property. Because the investment is huge, you might have to spend some time making a connection with your prospects. If your buyer trusts you, they will ask fewer questions and won’t hesitate to give you their money. Also, ensure to provide them with an easy exit. They might just end up recommending another buyer even if they can’t buy your property for some reason.