Posted on March 17, 2023
Selling a timeshare can seem like a daunting task, especially for the majority of sellers who are dipping their toes into the timeshare resale market for the first time. Not everyone knows how to sell a timeshare online successfully, so we’re here to help work through some of the issues that can arise when putting your timeshare up for sale on the Internet.
There are specific areas that you should be aware of when looking to sell timeshare online. It’s easy to start, and some companies can get your timeshare on the Internet in a matter of minutes. But before you jump into it, make sure you are prepared with the important information to give you the best possible outcome – a sale.
Let’s start at the beginning – when you first bought your timeshare. Be sure you know exactly what you own. For example, some owners think they own an RCI timeshare when, in reality, RCI does not develop or manage timeshares. You may have bought RCI points attached to your original ownership, but those points may not transfer on the resale market so your ownership would revert back to the original week.
In other instances such as points products, you may own points deeded to a specific resort such as with Disney Vacation Club or a pure points product like Club Wyndham Access points. Knowing the difference can determine how your points are promoted online.
Dig out your purchase and sale agreement or refer to your latest maintenance fee statement to see what it says. You can always contact your resort or management company for verification or let a licensed timeshare broker do the research for you.
You’re sure to hear all kinds of pitches about paying marketing fees or advertising fees to sell a timeshare online. Be careful, since this is how many scam companies operate; getting your money with little to show for it.
By working with a licensed broker that specializes in timeshare resales, you would be able to gain the benefit of online marketing along with an agent working on your behalf to sell your timeshare. All with no upfront fees to pay.
Some owners looking to sell a timeshare online may be in arrears with their timeshare account. It is important to stay up to date with your maintenance fee payments because the resort or management company will ultimately approve the sale. Owing money to the resort could jeopardize the sale, so it’s best to keep them on your side with updated payments.
This issue will come up during the closing process as the closing company will identify any monies owed during their records search, so it’s recommended to stay ahead of debts. If outstanding debt is a longstanding issue, most resorts will have some type of payment plan so the fees can be paid off over time.
The most important aspect of getting your timeshare pricing right is establishing the asking price of the timeshare. Asking price is often the first thing prospective buyers check for after searching online for the name of your resort or your timeshare company.
Resale listings, such as those on our website, show the essential details like the bedrooms/bathrooms, season, annual or biennial usage, views and number of points (if applicable). But the most important item is the asking price, which is the toughest part of this process.
For many sellers it is a guessing game, and searching other websites to see what other sellers are asking is also an inexact science since there is no MLS service for timeshares. It’s best to consult with a professional licensed agent who works in this space every day to get an idea of a realistic asking price for a timeshare or points package.
You would be amazed at the details in formulating an online marketing strategy for a timeshare.
Researching Google, assessing the demand of a resort online, and matching up the aspects of timeshare ownership to align with buyer searches are just a few of the areas companies manage to promote a timeshare on the internet.
Look for companies that focus on timeshare resales, since resales are a very specialized field to successfully manage to promote timeshares to interested buyers. Even outlets like eBay or Craigslist are not much more than glorified online garage sales and do virtually nothing to actively work in the timeshare resale space. Plus, any buyers who do go to those sites are looking for bargain basement prices, which doesn’t help sellers looking to get the best return possible.
Ask questions of the company you want to use regarding their online presence and how they market timeshares, especially if you intend to pay an advertising fee. Do a Google search for the company you want to use, since if you cannot find the company, then neither can a buyer.
Using social media to sell your timeshare online may sound like a great idea, but ask yourself: would people looking to buy a timeshare online actually go to social media to find one? Purchasing a timeshare is very different from going to Facebook Marketplace to find a deal on a couch or entertainment unit.
Several timeshare companies promote on Facebook or Instagram, but they are using those platforms to promote vacations through their rental departments in order to generate leads for their sales teams. Once vacationers have responded to those ads, they will be heading to the resort for that long weekend, and even longer sales presentation.
Social media could be a good way to let your friends and family know your timeshare is up for sale, but will they be interested? Or are you better off working with a company that can promote your timeshare online to the buyers actively searching platforms like Google, Bing or Yahoo?
There are several areas to look for when researching a timeshare resale company:
1) The support of industry associations like the American Resort Development Association and the National Association of Realtors. These groups have ethical standards for accountability for their members, and we are a member in good standing with both groups.
2) Whether a company puts their agreements in writing, such as with listing agreements, and how they handle client funds. Licensed brokers keep client money in escrow to protect all parties and stay in line with Florida real estate regulations. This would pertain more toward buyers since deposits are collected when a buyer agrees to purchase a timeshare.
3) Even little details such as an office address and a legitimate business phone number can make a difference. These days, anyone can create a website, but is there an actual business behind it? Make sure the business doesn’t just offer up a post office box number and call back any phone number to see whether the business seems authentic.
It is easy to put your timeshare up for sale online. The process only takes a matter of minutes. Our clients are asked to first complete a listing agreement so we can gather and verify the necessary details, then we’ll create an online listing on our website and other sites throughout our marketing network. The ease of actually selling a timeshare online can be a different story depending on various factors related to the specific timeshare or points package.
Some timeshares sell faster than others, so patience is a key ingredient in the process. What is certain is that the best chance you have to get in front of the largest pool of buyers is by posting your timeshare online with a reputable company: one that combines effective online marketing tactics with the hands-on ability of a licensed agent to find buyers.
Still wondering how to sell a timeshare online? Get started today. https://www.timesharebrokerassociates.com/sell-a-timeshare.asp