Preparing For Timeshare Presentations
Written by: Traver
Sales people in the timeshare industry have become notorious for the hard sell tactics used when a potential buyer visits their resorts. Because the sales staff is prepared to go to extreme measures to get the buyer to purchase a unit at their resort it is important that anyone who participates in these sales meetings be prepared as well. Why would someone participate in a timeshare sales meeting? Many resorts will offer timeshare promotions, allowing potential owners the opportunity to visit the resort for free or at a highly discounted rate, in exchange for these discounted visits to the resort the visitor must take a tour of the resort with a sales person. Below you will find some tips that will help you from making a mistake and purchasing a timeshare while on a timeshare tour.
No matter how good the offer seems – Just say no.
One of the tactics timeshare sales people use is to offer the timeshare at a higher price and gradually reduce the price if they feel the potential owner is not interested. I have heard of sales people who drop the price to less than half of the initial offering. When prices are dropped this much it gives the illusion of the timeshare week being discounted, in reality most timeshare resales will be offered at a fraction of the cost even for the most discounted price the resort offers. Do not get caught up in the moment, stick to your guns and continue to say no, even though the offer gets better and better as the meeting goes on.
Research timeshare prices in the resale market.
I would always recommend someone who is visiting a resort and going to a timeshare presentation research the resale values for the given resort. VTR offers a service that will give potential buyers the value of three resales, just like the unit being offered by the resort, over the past year. Armed with a timehare market evaluation you can show the sales person what you expect to pay and see the difference in the price quoted directly from the resort. You can also use other sources such as ebay to demonstrate the discrepancy between the resort’s asking price and the price you are willing to pay.
Keep time during the meeting.
The average resort will say that the sales presentation/tour will last approximately 90 minutes, this is rarely the case. Many times the resort will present multiple offers and use multiple agents to try and wear down potential buyers so they will purchase the unit. Make sure to keep the time yourself and give the sales person a warning every 10 to 15 minutes. This will show that you are intent of ending the presentation as soon as possible.
Record the meeting.
There have been reports of timeshare sales staff offering benefits that are not really available during the sales presentation in order to persuade the visitor to purchase. Recording the entire conversation will ensure that the sales staff does not lie or mislead you during the presentation, even if you have no intent of purchasing from them this will be a good reference point when searching for a timeshare resale.
These are just a few of the tactics that people have used in order combat the high pressure sales at a timeshare resort. You should never buy a timeshare directly from the resort; remember you are buying the exact same unit you would buy in the resale market. The resorts are banking on the fact that people who participate in a presentation have not done any research and are not aware of the highly discounted units available when purchasing a timeshare from an owner.
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