Timeshare Resale Tips - How to Price Timeshare Resales

Transcript:

Steve Luba - We've talked about pricing being a little bit lower on the resale market - why is that? What else would go in to pricing a timeshare on the retail market?

Jason Tremblay - You know, when I talk about the developers having to incur costs of upwards of 50% in marketing to sell a timeshare, let me just put that in perspective for you. Most people don't wake up one morning and say, "You know what? Today we're going to go to a resort and buy a timeshare." Would you agree with that? So what happens is the developers have to find ways to induce people to come see the product, come learn about the product. There is nothing wrong with that. There are a whole lot of people that I think, I know for sure, would love the timeshare product if they just understood it. So what they have to do is offer inducements. In some cases maybe it's free tickets to Disney World, in other cases it perhaps its incredibly discounted 3-day 2-night vacation at one of their resort properties. Nonetheless, those costs are heavy. The advantage to buying in the resale market is obviously you've got those savings. You are not going to have to incur those costs that the developer incurred. I suppose the only disadvantage as a seller is because of that, you are going to have to be realistic about the sale price. If you purchased a timeshare last year for $18,000.00, it's highly unlikely that you are going to recoup $18,000.00 for that timeshare. There is a healthy resale market, but what you really have to do is take a look at what these properties are really being advertised for right now. What are they competing against? Where are the offers coming in? One of the services that we offer and I'm not aware of any of our competitors offering this service, is what we call a free market value survey. If you have a timeshare property and you want to sell it and just don't have the faintest idea where to price it, you can actually contact one of our resale timeshare specialists. What they will do is first they take a look at other properties just like yours, what are they being advertised for so you know what you are competing against. Then, I think even more importantly, they are going to take a look at offers that are coming in to our website. Because we have so much traffic and so many buyers making offers to buy timeshares, we have a tremendous database of that offer information. That tells us, here are people that are ready to spend on a property like yours. Ultimately bear in mind that we are a "for sale by owner" website and ultimately the decision as to where to price your property is yours. But we do have that information available for you.

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