With the number of fraudulent companies appearing in the timeshare resale industry, timeshare owners should take a close look at their options if they want to get rid of their timeshare.
First of all, there is not a “best way” to sell a timeshare. Timeshares are simply very difficult to sell. First, there are few buyers that want a timeshare on a day-to-day basis. Even though the timeshare industry is a multi-billion dollar industry, most buyers buy at the resorts where they can see, smell and experience the timeshare that they are buying. To buy a timeshare sight unseen is like buying a home without ever being in it.
The second part to this is that there are many people trying to sell timeshares. People’s lifestyles change. They no longer want to use their timeshare or cannot use it at all. For example, the kids go to college, or a loss of a job, or health issues arise. So, as the maintenance fee bills come in every year, it becomes more of a burden than a vacation getaway.
You’ll find people willing to give away their timeshares for free (minus the closing costs) or for very low costs just to eliminate these fees and the contractual obligation that timeshares place on owners. But, this leads to a flood of inventory on the market. Looking on some popular timeshare selling websites, there are easily tens of thousands for sale just on single websites alone. There are some estimates that millions of timeshares are either on sale or want to be put on sale. So, every timeshare starts to look the same and with buyers not wanting to buy something they’ve never seen or experienced, very few transactions get done.
The last point to think about when selling a timeshare is the amount of money that goes into the marketing and sales of timeshares by the timeshare resorts. For every timeshare that is sold at a resort, roughly 33% to 60% of that goes to marketing and sales of the timeshare. That’s an incredible amount! Some of the best salespeople in the world sell timeshares because of how lucrative it is. But, as a single owner who has little budget or time, is it even possible to compete with the resorts themselves?
Selling any type of real estate is especially difficult right now with the recession. Timeshare sales are down several billion dollars from their record highs in 2008. Typical timeshare owners do not gain any equity on their timeshare, so it makes for a harder deal than other forms of real estate.
Although it may seem self-serving, Timeshare Relief would prefer timeshare owners not go through some of the trials and tribulations of trying to sell a timeshare. It really pains us to see owners paying out so much money for so little in return. If you would like more information about how to avoid the timeshare resale industry entirely, give our friendly expert advisors a call at the special Timeshare Relief hotline: 1-866-797-0535. There is no obligation and we want to provide all the information you need to make a good decision for you.
The Massachusetts Attorney General’s office has obtained a preliminary injunction against several individuals who represented themselves as “timeshare consultants”. Allegedly these individuals were providing unlicensed legal advice and scammed 
