Buy Timeshares Online - How Has the Internet Changed the Way People Buy Timeshare?

Transcript:

Steve Luba - With all these companies over time and the resale companies that have popped up really the Internet is the great equalizer isn't it?

Jason Tremblay - The resale market is kind of interesting because really, until just the last few years, there weren't a lot of options. If you purchased a timeshare and say ten years later the kids grow up and you no longer have a need for it. You are no longer traveling the way you use to travel and you decided to sell, what would you do? In some cases people put an ad in the local newspaper. So they run the Sunday ad and spend a couple hundred dollars and nothing happens. Maybe they call a local realtor, "Gee whiz I have this timeshare, and I'd like to sell it. Can you help me sell it?". Of course your local realtor really isn't going to have an interest or the market for a timeshare property. So it was really a challenge. It has really only been the last few years, with the growth of the Internet, there really are legitimate effective viable means for selling a timeshare. There are two basic options online; one is you go with a broker. We actually are involved with a brokerage company called TimeshareHotDeal.com. There are some people who would really prefer to have the assistance of a licensed real estate professional walk them through the sales process. I can certainly understand that. Another option -and candidly, more popular option- we've experienced, is the "for sale by owner" model, because what it allows you to do is spend a fairly small amount of money to advertise the timeshare, and essentially advertise until it's sold and closed, for no commission, so at the end of the day when those proceeds are distributed you get 100% of those proceeds. You are not paying a hefty commission to a broker but you still need to be careful. Anybody can have a website, the sixteen-year-old down the street can probably build you a timeshare website by this time tomorrow. The key is when you are looking to use a timeshare company, a "for sale by owner" website, the key is to make sure that they really are going to have the best chance of delivering the results you want, to get that property sold. What that means is they need traffic, they need buyers, you have got to have exposure. If you are looking to sell a timeshare it really boils down to two things: you need exposure and you need to price it right. We talked a little bit about pricing, you can have an incredible property but if you've over priced it, if there are many, many options out there for less money, it's not going to sell, regardless of the exposure. On the other hand, you could have an incredible deal, you could be giving away your timeshare, but if it's advertised on a website that no-one ever goes to it's not going to sell.

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