If you’ve considered whether you should sell a timeshare you own or plan to buy, here’s an interesting fact: it’s estimated that by 2028, the global timeshare market will be $29.1 billion!
Now that you’re convinced, you’re likely wondering whether you’ll be able to sell a timeshare without much hassle. The process isn’t as challenging as you might think and it’s even easier now that demand is increasing.
This quick guide will show you the process of how to sell a timeshare.
Here’s what you need to know:
The Quality of Your Timeshare
The first thing you must consider is whether you had a retail vs. resale timeshare.
You have to look at the market rate of your timeshare first before selling it. You can use a brokerage service to help you get this number. Once you’ve found the rate at which you can sell it, you can decide if you wish to move forward.
The brokerage will then help you put the timeshare on the market. They’ll work as a real estate agent on your behalf.
Now let’s look at the process of how you’ll sell it once you put it on the market.
Choose the Time
When you sell your timeshare, you can sell your entire time or a portion of your time. If you no longer have an interest in holding onto your timeshare, then you want to go with the former.
You have to remember that the more time you offer, the easier it’ll be to sell your timeshare. Some timeshare owners will first buy time from another owner and then sell the time!
Showing the Timeshare
Once you’ve got an interested buyer or buyers, you want to show them your timeshare.
You’ll also want to show them the area around the timeshare. They’ll want to choose a timeshare in an area where they can vacation and have fun. Make sure you’re familiar with the area so you can sell the “plus points” of said area.
This is often the most challenging aspect of selling timeshares. You’ll have to expect that some potential buyers will argue with you. They want you to convince them why your timeshare is worth buying at all.
Other times, potential buyers will like the timeshare but will demand a large discount. You’ll have to convince them why the value is worth what you’re charging.
You can use your brokerage services to assist you with this. They’ll have to inspect the timeshare and area first to get an idea of how to sell it.
Now You Can Sell a Timeshare
Now you know how to sell a timeshare and make a great profit from this growing industry.
Your first step is to consider the quality of your timeshare. You want to know your market rate to sell it at an appropriate price.
Next, choose how much time from the timeshare you wish to sell. Try to sell as much as you can.
You want to work on your sales skills to understand the value of the timeshare and the surrounding area. This makes it easier to sell a timeshare.
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