Most people who visit a resort and choose to participate in one of the resorts’ sales meetings in order to get free tickets or free lodging know what they are getting themselves into, i.e. a pushy sales person showing them around and doing anything they can to get the traveler to purchase a timeshare. I have heard from people who have visited Disney Resorts before and participated in these presentations and many seem to be surprised regarding the aggressiveness of the sales staff when compared to other resorts. It seems that Disney sales staff currently is less pushy and more respectful of a person’s wishes, however with the new payment structure outlined above I am concerned how long this reputation will last? With less base salary and higher commissions people visiting the resort will most likely see a more aggressive sales approach and can expect many of the sales personnel to do anything and everything to sell the timeshare. Current owners can also expect to start receiving phone calls and mailers regarding an upgrade of their current contract. This move is almost guaranteed to increase Disney timeshare sales, but we are afraid their reputation may suffer in the long run.

We would love to hear about any experience you have had with Disney whether it be good, bad or ugly? When you visited the resort what was the sales person like? Hopefully regular readers of our blog and anyone reading for the first time already knows that timeshare resales are the way to go and will save you thousands of dollars when compared to buying directly from the resort. If you are searching for a timeshare please feel free to visit our Disney Timeshare Resales section.

The Good and Bad
There are a couple of trends that I find encouraging for the timeshare industry and timeshare buyers alike. The report indicates that more people below retirement age are beginning to see the benefits of owning a timeshare and deciding to buy a timeshare. This means there is a whole new generation of travelers that will be interested in timeshares and searching for bargains around the world, opening up numerous possibilities for both resorts and the secondary market. I was also pleasantly surprised to find that many of the new owners had decided to rent a timeshare at the resort they were considering before actually purchasing a week. For years I have been telling potential buyers to not only search reviews on the internet but visit the resort itself and view all of the amenities with your own eyes before purchasing. When visiting the resort be sure to note all amenities, likes and dislikes, and services offered by the resort, this will help buyers make an informed decision and be less likely to experience buyer’s remorse when they do finally decide on the resort.

The summary of this report indicated that 4 out of 5 new timeshare owners were still purchasing a timeshare directly from the resort. This shows that travelers are still overpaying for timeshare units and made to believe that purchasing from a timeshare resort is the best option. However, in the resale market the same unit can be purchased for a fraction of price, regular readers of this blog know how big a mistake these new owners are making by purchasing from the resort. One of the main reasons those surveyed gave for purchasing the timeshare was cost savings in the future, why not purchase a timeshare resale and save thousands of dollars from the very beginning of the experience. This shows many people do not know about purchasing a timeshare in the secondary market before it is too late.

Overall timeshare owners have been happy with their experience as 86% of them said that owning a timeshare was an excellent, very good, or good experience. What do you think, how has your timeshare experience been?

Maintenance fees are a necessary evil to keep any resort in operation, after all they cover most of the day to day operations of the resorts and any improvements that the resort will undertake, ie upgrades in furniture for the rooms, new television, and new amenities throughout the resort. It seems there has been a trend lately where many resorts are raising these fees despite the current state of the economy. There are a couple of reasons that come to mind when trying to figure out the resort’s position in raising maintenance fees in a bad economy. The first goes hand in hand with the economy, since people are finding they have less money to spend and are trying to save more they may default on their timeshare property if a number of people do this the resort is forced to raise fees for the owners who are left. Simply put there are now less people paying but the cost remains the same no matter how many owners buy into a given resort. The second may have to do with inflation, which everyone is familiar with. Due to inflation the cost of items necessary to run a resort will rise such as utilities, paper goods, insurance, and other items used in the day to day operation of the facility. Since the resort is required to have all these items the cost passed along to owners in the form of maintenance fees and special assessments. Obviously these are just a couple of reasons why owners continue to see higher amounts being expected from the resort, these may not apply to every case.

We know that many of the readers of our blog are timeshare owners themselves, what do you think about your current maintenance fees, are you happy with them are they too high? If you are the owner of a resort where many owners felt the fees were to high what actions were taken by the board of directors or owners association? If you have other suggestions on why fees would rise we would love to hear those as well.

Why was this bill written?
The bill has been lobbied for by one of the most well known timeshare organizations in the United Stated, the American Resort Development Association (ARDA), this organization was formed to protect consumers in the timeshare industry and fight for their rights. In the current economic condition many state and local governments are looking for alternate means to supplement low revenue, charging timeshare owners a tax for timeshares that were exchanged or the party exchanging into the timeshare was one of the foreseeable methods. This would have effectively raised the rates of timeshares across the state of Florida, which contains some of the most popular timeshare destinations such as Orlando timeshares. Thanks to this bill there will be no added taxes for exchanging timeshares. The second issue addressed in this law was giving resorts the ability to offer debt cancellation products, basically these would act as a safety net for purchasers of timeshares, allowing them to return the timeshare to the resort if they lose their job without negatively impacting their credit. Many people will be familiar with these types of programs as they have been offered by automobile manufacturers in the past to encourage people to purchase a car.

I feel the passing of this bill shows that the citizens of Florida are taking the initiative to ensure a great future for the timeshare industry and Florida tourism as a whole. If you are interested in renting or purchasing a timeshare in this state please visit our Florida timeshares section.

By this point many readers are now asking, “What does this mean for the timeshare resale market?”. I believe that a mixture of bad economic conditions and decline in timeshare sales directly from the resort can actually be a good thing for the secondary timeshare market. Given the state of the economy nearly everyone has been on the look out for bargain deals and will continue to further research different travel opportunities. Before this downturn families and travelers alike were more careless with their money and would purchase the first option that was presented to them, i.e. buying a timeshare directly from the resort. Now that families have began to cut back which might force them to hold off, not buy directly from the resort and search for other options. Even when the economy turns around and begins to grow again many people will continue this trend and be more frugal with their income, leading them on a path to find the secondary market for timeshares. Hopefully the word has been circulated throughout the industry enough so not as many people will make the mistake of buying direct and turn to the secondary market where timeshares can be purchased for pennies on the dollar. I believe the economic downturn may not be the only reason for the decline in timeshare resort sales, I think people are realizing the value and bargains that can be found for timeshares when purchasing a resale as oppose to buying direct from the resort. With more and more people turning away from the resort for their purchase owners may also see an increase in interest for a timeshare they have for sale. After all the more people that are searching for resales the better the chance that someone will find your timeshare.

If you are a person who is trying to purchase a timeshare because you have found that resort prices are just too high we would invite you to search our site for the best deals on timeshare resales. On the other hand if you are an owner who think you might be interested in capitalizing on this trend please feel free to visit this page to sell a timeshare.

Timely Responses – Most timeshares sold in the secondary market are found on the Internet, because of the abundance of options available to the prospective buyer it is important to establish a good line of communication and respond to any inquiries in a timely fashion. Just remember the longer you wait to reply to someone interested in purchasing the more time it gives for other owners to reply to the same person with information regarding their timeshare. Once you have listed a timeshare with Vacation Timeshare Rentals users of the web are able to use our site to send an email inquiry if they are interested in your timeshare, for this reason it is important to check your email account on a regular basis, preferably on a daily basis to ensure that all inquiries are received and replied to as soon as possible. Lack of communication can cause a potential client to lose trust and move to the next option.

Take The Buyers Prospective Into Consideration – This can seem like an obvious item to point out however sometimes owners forget to step back and take into consideration the transaction from the buyers point of view. Keep in mind the buyer is trying to find the best possible fit for their needs so do not become impatient if they ask multiple questions and try to understand every detail. It is also to important to remember that negotiating is part of selling anything, not just timeshares, do not be insulted if someone sends an inquiry offering an amount lower than the number you have in mind. After all you are the owner and you can refuse any offer so do not take a low offer as a personal attack. We also recommend taking time to reflect back to when you first purchased your timeshare, especially if it was in the secondary market, try to remember what it was like to find a timeshare to buy and the factors that lead to your final decision.

Transferring Your Timeshare – Once you and the buyer have agreed upon a price and all other terms of the sale you can then send the transaction to a timeshare closing agency. The closing agency will handle all the necessary paperwork to transfer the ownership from one party to another as well as hold the funds in escrow until the transfer of ownership is complete. When enlisting the help of a timeshare closing agency remember to have the buyer pay for the closing service, this way if they decide to back out they will have their money invested and you will not lose anything. If you agree to pay the closing cost as an incentive for the buyer simply take the amount of the closing service from the final agreed upon sales price. There are many different timeshare closing agencies to choose from, the agency we recommend using is Timeshare Title, this company will perform the complete closing transaction in a timely manner for $375.

Following the checklist from this series of posts will help you in finding a buyer and ensure that the transaction goes as quickly and smoothly as possible, if you are an owner or buyer and have other suggestions we strongly encourage you to share your opinions with us to help others out down the road. Now that you know what goes into attracting buyers there is only one thing left to do, Sell Your Timeshare.

Advertise Your Timeshare – Many people each year decide to sell their timeshare but do not know where to begin advertising their timeshare, Vacation Timeshare Rentals was created mainly for this purpose, to provide timeshare owners a cost effective opportunity to advertise their timeshare for sale or rent or both. Many other companies focus mainly on timeshare owners wishing to sell their units, focusing all of their efforts on persuading owners to list and not really putting any effort into getting timeshare buyers to visit their site to purchase these timeshares. At Vacation Timeshare Rentals we spend an equal amount of time catering to both sellers and buyers, greatly increasing an owner’s chance of selling their timeshare. We have multiple different listing options, so no matter how high or low your advertising budget is we can accommodate you. Please visit the following page to sell your timeshare.

Be Descriptive – When placing a timeshare for sale we have found that the better you describe the unit for sale the high the possibility of receiving multiple contacts and finding a buyer. Make sure you describe the resort in your own words and any amenities that you and your family enjoyed while staying there. Personalizing your ad with your own experiences will hold potential buyers’ attention and make the timeshare sound more appealing than other listings with a short or generic description. Also describe the surrounding area of the resort, attractions, local destinations, restaurants, and any other aspect of the area you have found interesting during your time there. Recalling your experience and putting them into words may take a little extra time but will go a long way in attracting buyers to your timeshare.

Full Disclosure – In the first part of this series we recommended that you find all paperwork given to you when you first purchased your timeshare which would help you answer any questions that may arise during the sales process. If someone contacts you about your timeshare make sure to fully answer their question as honest as possible and review the ownership papers as needed. For example, if a user asks about the usage period do not give the impression that it is available to use every year if it is only available during odd numbered years. There are certain items that might make your timeshare seem more appealing at the time, however all information is reviewed by the timeshare closing agency and double checked with the resort, so if you have been less than truthful this will come out in the end. We have seen many transactions cancelled due to false representation by the owner of the timeshare.

Following these steps will help increase the chances of finding a buyer for your timeshare and increase the chance of both sides of the transaction being satisfied. If you are ready to begin advertising your timeshare please visit our Sell A Timeshare page.

Gathering Information – Once you have decided to post a timeshare for sale the first step we recommend is pulling out the papers you received when you purchased the timeshare. This will help you remember exactly what type of unit you own, the deed will state the usage time, number of bedrooms, number of bathrooms, whether it is an annual or bi-annual timeshare, and if leased the number of years left on the lease. More times than not theses questions will be asked by potential buyers so it will save you time having this information available before listing the timeshare. Another common question involves the yearly maintenance fees, be sure to check your records and have the amount you paid for the previous year’s maintenance fees available for potential buyers.

Market Research – Once you have gathered all pertinent information regarding your timeshare you will then need to do a little research to get a feel for the current secondary timeshare market climate. I would begin this process by learning a little about your competition, ie other owners with similar units. To find similar units you would want to visit the timeshare resort section on Vacation Timeshare Rentals. When you find the appropriate resort page you will be able to view every listing in our database for the given resort, once on this page you can see the number of listings for a particular resort including the number of listings similar to yours. When doing market research make sure you are comparing units exactly like the one you plan to sell, for example if you have a two bedroom timeshare the one bedroom units at the resort would not be in direct competition with you.

Setting a Price – Once you have researched the market and are ready to begin advertising there is one final item you should consider, which is perhaps the most important, setting the purchase price for your timeshare. There is a fine line between setting a price that is too high and a price that is too low, after all you want to attract buyers but you also want to get the highest amount possible for your unit. Many times people will get asking price and actual sales price mixed up when setting a price for their timeshare, these are two totally different values. Asking prices are set by individual owners, some owners may over value their timeshare to the point where they will never sell, think of your self as a buyer if you are interested in a timeshare and have found two different listings for the exact same type of unit and the first is listed for $10,000 and the second for $5,000 which timeshare would you rather purchase? To help you set a price it is a good idea to bring in some expert help and have us perform a timeshare evaluation on your unit. This evaluation will give you the average selling price of timeshares just like the one you owner over the past year. Using this document to set your price will ensure that you receive the highest possible amount for your timeshare while also setting a fair asking price that will attract buyers.

Remember these are just the first steps to begin the process of selling, continue to read our blog posts over the next week to receive more tips on selling a timeshare. Please feel free to visit our sell my timeshare page if you are ready to begin the process of advertising your timeshare for sale.

The first company I read about used the name “RCI Management”, in the incident I read about they called a timeshare owner asking if they would like to rent or sell their timeshare and demanding around $1,000 up front to advertise the unit for the owner. If you hear from this company either by email or phone it is a good idea to cease all communications as soon as possible. We have discussed companies that call owners in the past like this, however most of them come up with a new company name, this company is using the name of another reputable company RCI to gain owners’ trust. If you do receive contact from this company it is a good idea to at least forward the information they have given you to management at RCI, it is highly likely they are not to happy about this company using their good name to lure unsuspecting people to giving them money and may already by building a legal case against them. The second incident I read about was involving a company named “Westgate Sales Group Inc.”; once again this company is in no way affiliated with Westgate Resorts. This company works a little different instead of preying on the timeshare owner they actually seek out individuals interested in renting a timeshare. When searching for a timeshare it is popular for renters to post timeshare want ads on a number of different sites, this company is contacting these renters stating that they have found an owner with the exact week they are requesting and to send funds to get the ball rolling on the rental. Once the funds have been sent the agency claims the owner is going to have to back out, most likely a ploy to buy time, and this transaction will be canceled but might be able to find another unit for the renter. Upon learning this most people will request to receive their money back, however they are unable to get even a call back or return email from this company. If you are contacting by this company, once again it would be beneficial to cease from any communication with this company and maybe even forward the correspondence directly to Westgate. If you would like to read more about these companies please visit the Timeshare Users Group message boards.

In this day and time it is very difficult for a company to build a good reputation, it is a shame that scammers such as those go around and potentially ruin the reputation of these companies in an effort to make a quick buck. We would encourage anyone who has heard from either of these companies to share your experience or if you have received contact from any other companies using false names please share the names they are using. After all the stories that are shared may help someone else from being scammed in the future.

I feel that the main benefit timeshare owners receive, especially those with families, is the amount of space that a typical timeshare unit provides during the stay. Many timeshares offer most of the amenities of a home for instance a living room and a kitchen. The extra space can come in handy if children begin to argue or you just need some time to relax and lounge around, maybe playing a board game with the family. Timeshares can also provide you with great money saving opportunities while on vacation. Many times most of the vacation budget is spent on eating out at different restaurants since hotels normally do not offer the option for visitors to cook their own food. On the other hand most timeshares do have a kitchen where meals can be cooked and served, imagine how much money can be saved when preparing one or two meals per day yourself, the money saved will add to the enjoyment of your vacation since it can be spent on local attractions and activities. Owning a timeshare also makes you more likely to take a vacation, being a strong believer in the roles that rest and relaxation play in leading to a long and healthy life I feel it is very important to plan as many vacations as possible to give your self a chance to unwind. If you did not own a timeshare it would be very easy to put off planning until it was too late and therefore not going on vacation, however with a timeshare your lodging has already been paid for so it is one less thing you will worry about when planning the vacation. With the accommodations part of the vacation already taken care of you will have more time to make travel arrangements and plan the activities for your trip. Contrary to what some people may believe timeshares also offer a great amount of flexibility. The flexibility comes from the timeshares ability to be exchanged or traded, there are timeshare exchange companies which will allow owners to deposit their week into a pool and use another owner’s week that has been deposited into the same pool. Exchanging a timeshare week essentially gives the owner the ability travel all over the world.

These are just a few of the many benefits that can be realized when owning a timeshare. If you are a timeshare owner and would like to share your favorite benefit of timeshare ownership we would love to hear from you.