To sell timeshare takes time and effort and it is notoriously difficult. The main reason for this is because the number of timeshares being sold far outnumbers the demand. The other problem is that people tend to set their selling prices too high without realizing that the resale market is very competitive. Most buyers looking for resales know what they're doing and they also know that they can bide their time, shopping around for a good bargain. New buyers are rarely even aware of the fact that there is a resales market and so they almost always end up buying from a developer, paying twice the price. The key is to do your research and set the right price.
The first step is to dismiss any thoughts of profit. To sell timeshare is not to make a profit; it is simply about getting rid of the interval interest (timeshare week) you no longer want. The next step is to find out what your week is actually worth and to do this you need to check out the competition. Checking the prices of other resales at your particular resort is a good place to start but be sure to look at the final closing prices rather than the sales prices. Closing prices will give you a better indication of what timeshares at your resort are actually going for rather than the price sellers think they can get. Look at price listings in classified adverts and on broker's lists to see what other units similar to yours are being sold for. Once you have an idea of what your week might be worth set the price at what you believe you could realistically get.
Once you know what price to sell your timeshare at, you need to let buyers know that it is available. This means advertising. Developers can afford to spend thousands of dollars on presentation, free gifts and various other marketing tactics because they can sell timeshare at a higher price. Unfortunately, the individual seller can't achieve this so you need to look for economical ways of advertising. The internet is always a good bet. Websites offering free bulletin boards, classifieds and online user groups is a brilliant way to advertise your timeshare without spending any money. One of the best places to advertise is on the TUG website. For a small fee you can become a member and advertise to an audience you know are interested in timeshares.
Other ways to sell timeshare is through your home resort. Contact them to let them know you are selling and find out if they have a public bulletin board where you could post your sale and contact information. Also place adverts in the local newspaper in your resort area. This way you target people who have seen the resort or been around the area and so may be interested in buying a timeshare there.
If you choose to sell your timeshare through a broker, be sure to deal with licensed brokers only. Brokers charge either an upfront fee or a commission fee to sell your timeshare but it is generally advisable to go for the commission fee. This is because once the company has your money they have no real incentive to sell your unit. Also look out for companies who want to buy your timeshare and require you to get an appraisal from an independent company as there have been a number of scams involving companies doing this. The only justifiable reason for having an appraisal is for estate or charity donation purposes.
Timeshares can take months to sell so a good way to offset the costs is to rent the week out while you are trying to sell it. Sometimes it can even take years to get a sale and in this situation some people opt to donate their units to charity and simply take a tax write off instead.