More than a million Americans are desperate to dispose of their timeshares.
Due to the desperation, these Americans end up making many timeshare selling mistakes. Some fall into timeshare resale scams and incur massive financial losses. Others make errors that prolong the timeshare resale timeframe. And some are still looking for answers to one of the common questions being asked, how to cancel my timeshare contract?
So, what can you do to avoid these pitfalls?
To help you out, here are the five common timeshare selling mistakes and how to avoid them.
Table of Contents
Pricing the Timeshare Too High
It’s logical to desire to profit from your timeshare resale, which is why you set a high price. Sadly timeshare resale is, in many instances is 50% of the buying price and some instances, even 20-30%. That means that you’ll have to accept making a loss to sell your timeshare.
So, look for resources that guide you on setting a fair timeshare price. You want to set a price that helps you find a buyer quickly and offload your timeshare.
Paying Upfront Fees
You can’t believe your luck as you just received a call from a timeshare resale broker promising to help you. The only issue is that this broker requires you to pay an upfront fee. You’re tempted to make this payment as you’re desperate to offload your timeshare.
However, it’s a mistake to pay the upfront fees as there is a high chance the broker is a scammer. That’s why you should strive to learn how to sell your timeshare without paying any upfront fees. The idea is to reduce the cost you incur and lower the timeshare resale losses.
Agreeing to an Exclusive Listing
The rush to sell timeshare makes many Americans sign listing agreements without even reading the terms. That’s why most of them end up agreeing to an exclusive listing, meaning that they’re working with a single broker. The problem is that even if you manage to sell the timeshare on your own, you’ll still pay the broker.
Avoid this pitfall by choosing timeshare resale companies that offer an open timeshare listing. The idea is to work with multiple companies to increase the odds of selling your timeshare fast.
Choosing a Random Timeshare Resale Company
Most people find it tedious and time-consuming to search for the best timeshare resale company. These people argue that all companies in this industry are the same, and it doesn’t matter the one you pick. Yet this is a mistake as you risk choosing a shady timeshare resale company.
That’s why you should take time to compare different timeshare resale companies and pick the best one.
Learn the Common Timeshare Selling Mistakes to Avoid Financial Losses
To cut your losses, you need to learn the right way to offload your timeshare. So, carefully review the above timeshare selling mistakes and know how to avoid them. You want to know how to set a fair timeshare value and the importance of choosing an open timeshare listing.
For more informative content, please see our other blog posts.