Selling timeshare can be complicated. As a timeshare holder, you’re probably more than aware of the complexity of the industry, and when it comes to selling your timeshare, it doesn’t seem much easier. Timeshare resale value and buyer demand can vary, based on a range of factors. Establishing just how much you can expect from the sale of your timeshare is your first step.
What Factors Can Affect My Timeshare Resale Value?
The first things you need to know are the factors that can influence your timeshare resale value:
Go through each of the above factors and research thoroughly how your unit compares with other types of units.
Of course, how much you can expect to sell your timeshare for depends hugely on where and how you choose to sell it. There are hundreds of avenues available for advertising timeshare for sale.
Selling Yourself (Short?)
Lots of timeshare holders will be drawn to the idea of selling their timeshare themselves. Perhaps this is because of the shoddy reputation of many timeshare resale companies. Many timeshare holders are understandably wary of being conned by rogue timeshare resales scams. However, despite the fraudsters out there, there are also a few genuine and accredited timeshare resales companies that are likely to offer you the best deal for your timeshare.
It pays to know the tricks of the trade, and understand what scams are operating before you decide on a reseller for your timeshare. We have put together a guide to help you identify potential tricksters, so you can navigate through the shark-infested waters safely and hassle-free.
One of the most popular platforms for selling your timeshare yourself is eBay, but this comes with its downsides. On eBay, and similar self-listing platforms, you’re competing with other timeshare sellers to offer the lowest price.
Whilst most timeshares do generally sell for less than you paid for them, on eBay and the like, you will find you’re putting yourself in a situation where you’re trying to sell for less than other sellers. It goes without saying that that’s not great! Not only that, but when you make the decision to sell it yourself, you’re letting yourself in for a lot of complicated paperwork that could make the sale more stressful than it needs to be.
It’s important to explore all the different ways that you could sell your timeshare to establish which platform is likely to offer you the best price. Go back to the research into different timeshare sale price factors above, and work out which platforms and legitimate timeshare resellers are selling units like yours for the best price.
Selling for Credits
In a market where selling timeshare for cash is likely to leave you with a lot less than you expected, one of the best avenues to pursue is exchanging your timeshare for credits with a reputable Leisure Credit or Travel Voucher company. Whilst you won’t exactly be able to pay your timeshare sale cash straight into the bank, the overall savings to be made can amount to much more than you could expect by selling your timeshare for cash.
Such companies work by an internal, exchangeable closed loop currency system. Your timeshare is exchanged for credits, that can then be used to pay for heavily discounted holidays, or discounts at high street and online retailers. Whilst this may initially sound a bit dubious, it’s actually a good way to make the price of your timeshare work harder for you.
Timeshare companies understandably do not like these leisure credit options, as they are the ones likely to lose out. As such, the timeshare industry has launched quite a smear campaign to keep people using their product. The reality is, however, that the leisure credit industry has far fewer rogue enterprises scamming consumers than the timeshare and timeshare resale industry combined.
Leisure and travel credit companies work with suppliers and retailers to negotiate large discounts for their members. The result is, more often than not, a set of discounts for the credit holder that far surpass any discounts they could have otherwise negotiated alone, adding up to more than the cash resale value of the timeshare itself.
With this method of timeshare sale, the credits you earn by trading your timeshare will help you save a significant amount on other holidays you would not have been able to have if you’d stuck with your timeshare. Where the credits can be exchanged for vouchers for high street retailers, you make further savings on items you’d usually be buying full price.
In short: it all works out in your favour.
Again, it’s worth noting that you should do your homework when it comes to choosing to exchange your timeshare for leisure or travel voucher credits. Make sure that the company you choose can offer you the best deal, and that they are legitimate and widely used.
Knowing the ins and outs of selling timeshare, doing your research and establishing the best market value for your timeshare, whether you choose cash or credits, is key to getting the best deal. In a timeshare industry where there are more sellers than buyers, getting anywhere close to what you paid for your timeshare can be very difficult, so exploring all your options is vital to ensuring you don’t end up out of pocket. Whatever method of timeshare resale you choose, the relief of no longer having an unwanted timeshare hanging over your head can be worth its weight in gold.
- Thursday, 28 April 2016 14:09