Mistake 5: Signing an exclusive listing with one timeshare resale company
Never give an exclusive listing to one timeshare resale company to sell your timeshare. An exclusive listing means the company will be paid their commission, typically 10%, no matter who sells it. Even if you sell it to your neighbor or co-worker you will owe the listing company their 10% commission. And it effectively prevents you from listing it with multiple other resale comapanies since they wouldn’t get paid if they did sell it.
Always sign an “open listing” giving you or anyone else the right to sell your timeshare. This means you will only pay the listing company a commission if they sell it. If you can find more than one reputable resale company then sign an open listing with all of them.
Mistake 6: Not checking with your home resort
See if the developer of your resort will buy it back. It’s rare but worth a shot. Also, check to see if there is still an onsite salesperson that handles re-sales. It’s easier to sell it to someone onsite than to someone that just sees it on their computer screen. Finally, if the first to suggestions aren’t available see if there is an onsite bulletin board where you can hang a flyer. I would advise against putting an add in the local paper. It’s too expensive and not effective.
Tags: re-sales, resort, sell your timeshare, timeshare, timeshare resale, timeshare resale companies
