One of the most frequent questions we hear from our clients is, “Is it difficult to sell timeshare?” There are many ways to answer this question.
Clients who have had many years’ worth of happy holidays sometimes find themselves in a nightmare scenario when trying to sell timeshare. Perhaps they are no longer able to travel due to age or ill health. Perhaps financial circumstances are different, and they can no longer afford maintenance fees. Or perhaps they simply wish to ‘pass the torch’, so to speak. No matter what the reason to sell, it’s important to have realistic expectations.
This week, we’re bringing you an interview with our Advertising Sales Manager, Kellie Hammond. She’s here to answer some of our most burning questions about what it takes to sell timeshare.
How to Sell Timeshare – An Insider’s View
TLG: Thanks for taking time out of your day to sit down with us, Kellie! How long have you been in the timeshare industry?
KH: I’ve been in the industry for twenty years now. Because I’ve been here for so long, I’ve been able to form a sound understanding of what it takes to sell timeshare. I feel very little would shock me now.
TLG: What is the question you hear the most from clients looking to sell timeshare?
KH: Sadly, many clients come to us after having already been taken in by scam companies. They have lost hundreds or thousands to companies who promise a quick sale with a buyer waiting. They may have been invited to meetings with a promise of a “get out” only to be sold something else. Some of the most frequent questions we hear are, “Can you really sell my timeshare?” and, “How do I know that you’re a trustworthy company when I’ve already lost money elsewhere?”
TLG: In your view, what makes Travel & Leisure Group different? What makes us really able to help?
KH: First and foremost, we abide by a code of conduct and guidelines set by the RDO (Resort Development Organisation). We act in accordance with the European Timeshare Directive. All client monies are held by independent trustees First National Trustee Company, ensuring that all parties are safe when we do achieve a sale. We do not ask clients to meet with us, though anyone is welcome to come and see us at our offices in Sudbury. What we do is ‘what it says on the tin’. We work with the seller and the buyer to ensure they are happy: the seller with the price they achieve, and the buyer with the product they want and that suits their lifestyle.
How to Sell Timeshare – What to Do
TLG: In order to achieve a sale, what are your recommendations?
KH: Firstly, we advise our clients that it’s not easy to sell timeshare. A ‘buyer’s market’ means that there is more supply than demand. It takes time and patience to locate a buyer for a specific week at a specific resort, or a specific amount of timeshare points. So we always encourage our clients to have a realistic outlook.
It’s very important to consider every offer. We understand that often, clients have had many years of happy holidays and don’t wish to accept an offer that they may feel ‘devalues’ their experiences. Many clients hold their resorts in high esteem and believe that buyers should pay more to reflect this. Others feel that they paid a lot of money for their timeshare, and look to recoup a similar amount. However, timeshares are not a financial investment and do depreciate in value when pre-owned. The investment you made when you purchased the timeshare is an investment in leisure time, not money.
When you sell timeshare, you are in direct competition with every other owner on the market. Be realistic about the fact that you will not get back the price you initially paid. This will give you the best chance of selling.
How to Sell Timeshare – Is it Really Possible?
TLG: So is it really possible to sell a timeshare?
KH: Absolutely! We achieve sales every day. This is because we advise clients on our tried-and-tested methods, and our clients, therefore, work with us. If you place your timeshare for sale with us, we encourage you to include your own pictures and description in the advert. This sets it apart and makes it unique. Everyone wants to feel that they are buying something special, no matter if it’s a pair of socks or a house. Timeshare is no different, so your selling tactics should be no different.
Valuation and registration are free of charge. In order for as many potential buyers as possible to know that you are selling, we offer optional advertising packages that include website and television advertising, along with national newspapers and in-flight magazines, and even regular travel exhibitions! And as I mentioned earlier, personalising your advertisement with your own words and photos really does help to set your advert apart from the rest. When asked, “Do we need to advertise?” I often say that you wouldn’t put a ‘for sale’ sign in your car and then leave it in the garage—the process to sell timeshare shouldn’t be any different!
Until next time, stay safe and travel happy!