You’ve placed a timeshare resale advertisement on a reputable marketplace with great exposure and a steady traffic of potential buyers. Your pictures look great, the description of your resort is spot on, and you listed all of the amazing owner benefits they can expect—but you haven’t received a single offer yet. What gives?
Most people don’t know much about the secondary market until they are actively searching to purchase a timeshare resale or are selling their vacation ownership. It’s a competitive industry with unique expectations, which can make it difficult to navigate. For those who have been wondering why their vacation ownership isn’t selling, it is likely for the same reason thousands of other owners are having the same problem: not knowing how to value timeshares correctly.
More often than not, a timeshare on the secondary market isn’t selling because it’s priced too high. Timeshares are a great investment for those who are looking to vacation affordably each year, however, they are not a financial investment you should plan on selling for as much or more than its original purchase price.
Though it might be difficult to hear, our team cares about timeshare owners and only want them to know the truth. Purchasing a timeshare through a developer is an expensive and time-consuming process and it can be hard to understand how your perfectly enjoyable ownership is worth so much less than what you paid for it.
To begin to comprehend why buying through a developer is so expensive, you also have to understand where your money is going. Not only does your sale cover the cost of your ownership, but it also covers the high-pressure sales presentation you sit through, marketing incentives they use to get potential buyers into their presentations, the commission of their sales staff, taxes and fees, and much more. The large expense of these teams and promotional items need to be paid for, and it falls on the buyer’s shoulders.
Additionally, potential buyers are shopping the secondary market because they are searching for a deal on their next vacationing opportunity and aren’t likely to pay developer rates for a unit they can find elsewhere for less. It’s all about supply and demand. Unlike traditional real estate, vacation ownership can make it difficult for an owner to set their unit apart from others for sale when they have access to all or most of the same amenities and resort features. For example, if there are 25 owners looking to sell a one-bedroom Legacy Vacation Club Orlando—Oaks with similar weeks, buyers will gravitate towards the cheapest advertisement available to save money.
On the other end, there are plenty of high-demand timeshares out there that prove to have additional value. Some owners have timeshares associated with a popular holiday, season, or event for vacationing (such as Florida during Christmas time or Colorado during ski season), which can impact the demand. There are renowned brands like Disney Vacation Club and Ritz Carlton Club that are sold-out through the developers, which increases their value on the secondary market. There are also just generally popular properties, like Wyndham Vacation Resorts Panama City Beach and Marriott’s Aruba Surf Club that have a great track record of reselling for favorable prices. All of these components are why conducting research prior to post your resale advertisement is vital to selling your timeshare efficiently.
There are a number of factors that can influence how to value timeshares. Though you don’t need to know every exact detail of your ownership contract, being as accurate as possible will only help. These characteristics can be and are not limited to:
Having realistic expectations for your particular timeshare, committing to some research, and listening to the advice of industry experts will set you on the path to success. The seasoned professionals at SellMyTImeshareNow.com are well-versed in vacation ownership, timeshare brands, and purchase patterns of buyers looking for timeshares just like yours. With hundreds of timeshare offers daily, you’ll be in great hands throughout the advertising process. There is plenty of hope to sell your timeshare for a great price that will leave both you and the buyer happy!
To get started, utilize our free, three-step, no obligation timeshare market value tool or call our team today at 877-815-4227.