Finding a real estate broker is easy. They are there in every nook and corner, online, offline …everywhere! The same cannot be said for timeshare brokers. Not all real estate brokers deal with timeshare resale. They may be a little more prominent in coastal states like Florida, North and South Carolina but not everywhere else as anyone who has tried to sell their timeshare will be able to confirm. In fact, reselling a timeshare is not the easiest of jobs; I would say it is one of the most difficult things I’ve tried to do. Timeshares should never be bought as an investment. It should be for your individual use and for spending the most beautiful moments of your life. Unfortunately, however, any number of personal circumstances may force timeshare owners into having to sell their timeshare. Timeshares don’t even sell at their original price. They usually sell at 30-50% below their original price. And apart from the price, even the practicalities of selling make it difficult- it takes a lot of time to close a timeshare sale. Given these factors selecting the right broker is critical to the sale of your timeshare property.
Do your homework by researching some good brokers near your timeshare property. Searching for timeshare brokers in the state where you live doesn’t make sense because most of the brokers who deal in timeshares are found only around popular vacationing destinations like Florida. Look for those brokers who have a good track record in handling timeshare resale. It is advised to go with big and reputable brokers as they are more likely to handle your resale professionally and responsibly. They are also less likely to play games or cheat you because of their reputations. Do not hesitate to ask questions related to their success in selling timeshares and their experience in selling timeshares in the timeshare resort your own timeshares is situated in. Also find out the average time that a timeshare property sits on the market before being sold and last but not least, the average selling price of the properties they have sold. Now compare and contrast these factors with several brokers and go with the best one.
It is not a bad idea to find out if there are people in your development who have recently sold their timeshare units and ask them which broker they hired to resell their units. Also take any advice you can on a particular broker’s performance in handling the resale of your timeshare unit and whether they got the best possible return on their sale.
Cost is also a factor while selecting a timeshare broker. Beware of the brokers who charge upfront fees and excessive commission. Some brokers charge as high as $500 as an upfront fee. Whilst it may be the norm you should still ask that they put in writing a list of all the services they are providing for that fee. It is generally recommended to go with the broker who doesn’t charge an upfront fee. One of the reasons why brokers charge an upfront fee is many owners price their units ridiculously high and they end up sitting on the market for a long time and eventually never get sold. So, be careful while pricing your timeshare unit. But the brokers should advise the owners as to whether the unit will sell or not at such an exorbitant price. Try to find out about the background of the broker through the Better Business Bureau. Do ask the broker important questions like what strategy they will be employing to sell their unit, the estimated time it will take to sell the unit. The broker should be able to answer all your questions. If the broker is unwilling or unable to answer your questions then you may be better off looking elsewhere. In conclusion, a good broker who charges reasonable commission is critical for the resale of your timeshare because it really is in the hands of the broker to make or break a deal and ensure your timeshare unit fetches a good price.