Marketing To Resell your Timeshare
by Ryland Lockner
http://www.fasttimeshare.com
The time-share scheme started in Europe before breaking
into the American market, and it is an attractive way for
families in the US to achieve a second home in a nice
holiday setting. They are a good idea if have been
successful in your choice and if you like to take your
vacations in the same location every year. With luck and
good judgement you will have looked into it before you
committed yourself (visited the place or consulted someone
you trusted), so you will not have to think about selling
up for many years to come.
Nevertheless, in the future there may come a time when you
are thinking about reselling the time-share. This will
only be possible if the contract you purchased was the
correct type. But if you can legally resell your time
share it might be wise to understand some of the marketing
devices that agents use - this may enable you to recognize
any dodgy deals and also achieve a good sale yourself.
The first dishonesty that some sellers of time shares may
be guilty of comes when you first buy - some will lead you
to believe that a real bonus about purchasing time share is
that the resell down the line will be profit-yielding.
Most of the time this will not be true, and no-one should
buy a time share expecting a cash boost when they resell:
the odds are you will sell at a loss.
Because of this many time share owners are ripe targets for
a scam when they feel the need to sell. The cash retainer
scam is a classic you need to be aware of. This consists
of an early contact by telephone or postcard that talks of
ready and eager time share purchasers and web-based
clients. Taking advantage of this willing market will mean
that you pay the agent an up-front fee of perhaps a
thousand dollars. The deal will say that should they fail
to sell your time share then the cash will be returned.
The trouble is that the money is either not returned or you
get back only ten percent of it.
Reputable time share agents may well expect an up-front
payment too, however in this case it will be under $100.
The best advice is to sign nothing and agree to nothing if
you have doubts. It can be hard when they turn on the hard
sell, so try this: demand (politely) everything in writing
and ask for 5 happy client references that you can look
into. Check out the company at the Better Business Bureau,
www.bbb.org.
It is not always necessary to go via an agent - you can
place advertisements in the kind of papers that will be
bought by people looking for a time share. Another idea is
to place an ad suggesting an exchange rather than selling.
If you do not fancy these options then the best idea is
probably to approach a specialist estate agent where your
time share is located. These agents will know the area and
have clients on their books who are looking in the area, so
they have the best chance of success.
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