Let's face it. Most of the timeshare brokers out there are most likely going to be scammers but if you do know of anyone whom you can trust, you should contact them to learn about their selling process and the cost involved. So long as you do not need to pay any money upfront and you do not need to appoint them exclusively, you can ask them to start marketing for you.
The following websites can help you start your timeshare selling process.
a) Auction Websites - Ebay and Yahoo! Auctions etc.
There are people who sell their timeshare through online auctions. Although you will pay less in upfront costs, you will have to handle the whole administrative process and engage your own lawyer or licensed and bonded company to process the sale. If you are familiar with the prices and the procedures, and you can get a good lawyer or licensed and bonded company who doesn't charge exorbitantly, this will be a good option.
b) Classified Ads
Like selling through auctions, selling timeshare through classified ads also requires you to handle the administrative and legal aspects of the sale yourself so there is additional cost and complexity here.
Besides the better known classified sites like Craigslist, there are timeshare-specific ones which will deliver more targetted customers increase your chances of selling your timeshare but be prepared to list for half a year or more as it usually takes much longer to sell a timeshare than a property..
c) Timeshare Brokers or Resellers
Many of the sites you find will be brokers who will take you from marketing to completion of the sale. This may mean more convenience but it will also cost more. The fees of brokers vary. Some brokers charge a listing fee upfront and some charge commissions upon the sale and some charge both an upfront fee as well as a commission.
Generally, I would advise that you avoid paying any upfront fees and commissions unless it is a very reliable broker. If a broker charges commissions, they should not take fees upfront, and vice-versa. Many people will go for the commission-only brokers while some prefer to pay upfront fees as the upfront fees are usually in the hundreds, compared with commissions which may be several thousands. However, this means you have to bear the risk as there is no guarantee that your timeshare will ever be sold.
Sales commissions of some brokers can go as high as 20% to 40% of the sale price and this does not include the legal and administrative fees yet. Look around and compare prices before committing to any broker. You should able to find brokers who charge flat-fee comissions or commissions around 10% to 20%.
Although the charges are higher than other options, there are still good reasons to go with a broker rather than selling on your own. A good broker knows the market better and will know how to price and structure a deal successfully. Many people tried to save on the commissions and end up not being able to sell because they were not able to market effectively or they set unrealistic prices.
What If I Cannot Sell Or If I WIll Lose Too Much Money By Selling?
1) Timeshare was meant to be enjoyed
Unless you were forced to buy the timeshare, most likely you were enticed by the idea of having a long, leisurely vacation. If the idea of selling the timeshare is too much of a hassle and not worth it financially, make time, take a break and get your whole family to go and enjoy the resort instead of fretting over how to sell it. If you had bought a home resort which does not interest you, exchange for another one that you like with Resorts Condominiums International (RCI) or Interval International (II), depending on which exchange your resort is affiliated with.
2) Rent it out
If you cannot sell and have no time or no longer wish to utilise the resort, a good way to salvage the situation would be to rent the timeshare out. If you set an attractive price, one that allows people to spend less than if they rented directly from the resort, there will be many people who would be interested in renting from you. Even if you have to price it at a price at which you lose a little money, at least you will get some money back.
3) Give a gift certificate to your family or friends
If you have no time to use the entitlement and you cannot sell or rent it out, you can also let your friends or family use it instead. Seeing their happy faces and knowing you have done a good deed may be worth more than the little money you can get by selling or renting. - 15266
The following websites can help you start your timeshare selling process.
a) Auction Websites - Ebay and Yahoo! Auctions etc.
There are people who sell their timeshare through online auctions. Although you will pay less in upfront costs, you will have to handle the whole administrative process and engage your own lawyer or licensed and bonded company to process the sale. If you are familiar with the prices and the procedures, and you can get a good lawyer or licensed and bonded company who doesn't charge exorbitantly, this will be a good option.
b) Classified Ads
Like selling through auctions, selling timeshare through classified ads also requires you to handle the administrative and legal aspects of the sale yourself so there is additional cost and complexity here.
Besides the better known classified sites like Craigslist, there are timeshare-specific ones which will deliver more targetted customers increase your chances of selling your timeshare but be prepared to list for half a year or more as it usually takes much longer to sell a timeshare than a property..
c) Timeshare Brokers or Resellers
Many of the sites you find will be brokers who will take you from marketing to completion of the sale. This may mean more convenience but it will also cost more. The fees of brokers vary. Some brokers charge a listing fee upfront and some charge commissions upon the sale and some charge both an upfront fee as well as a commission.
Generally, I would advise that you avoid paying any upfront fees and commissions unless it is a very reliable broker. If a broker charges commissions, they should not take fees upfront, and vice-versa. Many people will go for the commission-only brokers while some prefer to pay upfront fees as the upfront fees are usually in the hundreds, compared with commissions which may be several thousands. However, this means you have to bear the risk as there is no guarantee that your timeshare will ever be sold.
Sales commissions of some brokers can go as high as 20% to 40% of the sale price and this does not include the legal and administrative fees yet. Look around and compare prices before committing to any broker. You should able to find brokers who charge flat-fee comissions or commissions around 10% to 20%.
Although the charges are higher than other options, there are still good reasons to go with a broker rather than selling on your own. A good broker knows the market better and will know how to price and structure a deal successfully. Many people tried to save on the commissions and end up not being able to sell because they were not able to market effectively or they set unrealistic prices.
What If I Cannot Sell Or If I WIll Lose Too Much Money By Selling?
1) Timeshare was meant to be enjoyed
Unless you were forced to buy the timeshare, most likely you were enticed by the idea of having a long, leisurely vacation. If the idea of selling the timeshare is too much of a hassle and not worth it financially, make time, take a break and get your whole family to go and enjoy the resort instead of fretting over how to sell it. If you had bought a home resort which does not interest you, exchange for another one that you like with Resorts Condominiums International (RCI) or Interval International (II), depending on which exchange your resort is affiliated with.
2) Rent it out
If you cannot sell and have no time or no longer wish to utilise the resort, a good way to salvage the situation would be to rent the timeshare out. If you set an attractive price, one that allows people to spend less than if they rented directly from the resort, there will be many people who would be interested in renting from you. Even if you have to price it at a price at which you lose a little money, at least you will get some money back.
3) Give a gift certificate to your family or friends
If you have no time to use the entitlement and you cannot sell or rent it out, you can also let your friends or family use it instead. Seeing their happy faces and knowing you have done a good deed may be worth more than the little money you can get by selling or renting. - 15266
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How To Sell Timeshare Guide is a useful guide to selling your timeshare. Learn how to Sell Timeshare by visiting How To Sell Timeshare Guide
