So you’ve made the decision to sell your timeshare. Now what?
Break open your books, do a little research, and figure out exactly how much money you want to advertise your timeshare for.
The most important aspect of pricing your timeshare for sale is developing a set of expectations for what you want to get out of the process. Do you need to sell quickly due to a lifestyle change or do you have time to wait for a full-price offer? This will largely affect where your price range starts. Timeshare resale is not an exact science and it is important to be realistic and flexible. Here is some advice on how to price your timeshare:
It is very unlikely that you will get back the same amount you initially paid for your timeshare. Roughly 30% (or more) of the original retail sales price of most timeshares includes commissions to the seller, meaning this 30% is not reflective of the actual property value. Additional marketing and sales incentive fees originally tacked on by the resort developer will have also raised the retail price of your property, but will not be included in its value on the timeshare resale market.
Search online timeshare listings to see the price range for comparable units. It is a good idea to price your timeshare similarly to others in order to market it competitively. If you price your property below the average listing price for similar properties you will greatly increase your chance of a sale. Also remember that while there may be multiple other units for sale at your resort, your exact details may differ from other listings, and you should price accordingly. For example, if you own in a high-demand season, you’ll be able to price your unit higher than other listings. It’s these details that will help you sell your unit for a reasonable price.
For a RTU (Right to Use) contract, the value of your timeshare is impacted by the contract expiration date. The more years remaining in your RTU contract, the more value your ownership still holds. A quick way to estimate how much your RTU property might be worth is to:
*The numbers and examples above are offered to provide an idea of what your RTU timeshare might be worth and are not intended as a guarantee of your timeshare’s value on the resale market. Brand, resort, season, and many other factors will impact the value of a timeshare resale. For assistance, please call 877-815-4227.
Don’t let uncertainty over how to price your timeshare stop you from putting it up for sale. Start where you are comfortable, and if, after a few months, you have not had any offers or interest, it may be time to consider reducing your asking price. Most owners will reduce their price at least once before finding a buyer so don’t be afraid to lower your asking price to see if you can drive more interest to your property.
If you would rather rely on timeshare experts to help with pricing your timeshare, online timeshare resources like SellMyTimeshareNow.com offer free market value surveys where experienced timeshare experts can assist you with a fair market analysis.
Contact one of our timeshare resale specialists for more information at 877-815-4227.