Are you thinking about selling your timeshare? If so, you’ve probably heard of several methods for reselling it, such as listing your timeshare on an online marketplace or using a timeshare resale company to help you transfer the property.
Both options may seem like feasible ways to escape ownership and relieve yourself of the stress of expensive maintenance fees. But if you believe that selling a timeshare is simple, you’re mistaken.
Why do many people assume selling their timeshare will be easy? Some timeshare companies tell buyers that they can eventually sell their property or even promote an internal resale program. These promises often lead owners to believe resale is straightforward.
In reality, these statements can be part of the biggest timeshare resale scams. Selling timeshares second-hand is extremely difficult, and most sellers end up losing money — if they can sell at all. This is why timeshare cancellation may be a better route for escaping unwanted vacation ownership.
Why Timeshare Resale Scams Exist
The idea that reselling timeshares is an easy way to exit ownership is misleading. One major reason for this is that there isn’t a sustainable market for timeshare resellers.
When trying to resell a timeshare on your own, you lack the tools and resources to successfully persuade buyers to take on a timeshare contract. In contrast, timeshare companies have perfected the art of convincing people to hand over their credit card and sign.
The timeshare industry thrives because of its highly structured sales process. Most timeshare sales target vacationers already enjoying a stay at a deluxe resort — often a free stay in exchange for attending a timeshare sales presentation. Attendees meet a charming salesperson trained to highlight how timeshare ownership can enhance their lifestyle. The presentation paints a picture of luxury, convenience, and attainable vacation ownership.
As a private seller, you usually cannot offer potential buyers a personal tour of your unit or resort. Instead, you must rely on quality photos, well-written online listings, and word-of-mouth marketing. Often, this isn’t enough because you’re competing with many others trying to sell their timeshares.
Competition in the Timeshare Resale Market
In traditional real estate, there are times when it’s a buyer’s market and times when it’s a seller’s market. But in the timeshare resale market, it’s always a buyer’s market. Just take a look at eBay, Craigslist, or any other website that sells timeshares. There are thousands of timeshare properties with all types of price points. You’ll even see properties selling for free where all the buyer has to do is pay closing costs and annual maintenance fees. It’s almost impossible to set your timeshare apart from the rest when you’re selling it on an online marketplace.
Instead of attempting to manage a resale by themselves, some timeshare owners hire a real estate agent to sell their property. Recruiting an agent who is knowledgeable about timeshare sales may give you a leg up on the competition. They’ll know how to price the property and who to market it toward. And though they don’t have all the expertise of a timeshare salesperson, they are better able to give a compelling tour that captures the experience of owning a timeshare.
If you don’t have the money to hire a real estate agent, you can also try hosting your own timeshare presentation party to manifest the spirit of the in-person timeshare sales experience. But even if you host an elaborate get-together with delicious food and a pool of friends and family in attendance, a sale isn’t guaranteed. It’ll still be very difficult to achieve a timeshare resale.
At this point you may find yourself thinking that your developer sold you on a timeshare scam by saying you’d be able to sell your property. You might then resort to a timeshare resale company. But be warned that many of these are also scammers.
Timeshare Resale Companies
Because the timeshare industry is heavily saturated with timeshare owners looking to sell their properties, timeshare resale companies have popped up left and right. A lot of the time you don’t even have to reach out to them. These companies will search through online resale listings and directly contact unhappy owners desperate to escape ownership.
Be warned that these companies are one of the biggest timeshare resale scams of all. The American Resort Development Association (ARDA) and some attorneys general, like the Nevada state attorney general, from across the U.S. have reported that most resale corporations are not legitimate companies.
In fact, the FTC calls out timeshare sales and resales as some of the top scams in the United States. Some of the worst scammers come from fake timeshare exit companies in Mexico. They pretend to be legitimate companies and get owners to pay fees to close lucrative sales. But in reality, they are no more than a money wiring scam often backed by drug cartels. These scammers are just looking to take your money in exchange for, most of the time, nothing.
Here’s how timeshare resale companies operate. They’ll get your phone number from an online listing and give you a call advertising their ability to help you get rid of your property ASAP. They’ll say that in exchange for an up-front fee, they’ll take care of the selling and transferring of your timeshare unit. They’ll even say they’ve already got a buyer waiting. All you have to do is give them your credit card or make a wire transfer to cover fees like closing costs and escrow.
When it comes to offers from resale companies, if it sounds too good to be true, it is. Some of the major warning signs of timeshare resale scams are if they initially contact you through a cold call, if they ask for an up-front fee, or if they have hundreds of the same timeshares listed on their website — a sure sign they are not actually selling anything. In reality, many of these companies promise you a sale, take your money, and then disappear completely. The only reason they’ll reach out again is to request more money from you.
Avoid a Timeshare Resale Scam and Pursue Cancellation
There are many types of timeshare resale scams to look out for. Whether it’s your timeshare provider, a timeshare resale company, or the timeshare industry itself telling you that managing a resale is feasible, don’t believe them. The truth is that there are far more timeshare owners looking to sell their unit than there are people who want to purchase it. If the reason why you want to sell your timeshare is because you no longer want to own it, it’s time to pursue cancellation with Centerstone Group.
If you want to avoid a timeshare resale scam and exit your timeshare for good, Centerstone Group may be able to help you find a resolution. We are a full-service advocacy group with decades of experience in the timeshare exit industry. With a leadership of timeshare exit specialists and a time-tested resolution process, we may be able to help you avoid timeshare resale scams and get you on track to cancellation. Contact us for a free consultation.
Are you thinking about selling your timeshare? If so, you’ve probably heard of several methods for reselling it, such as listing your timeshare on an online marketplace or using a timeshare resale company to help you transfer the property.
Both options may seem like feasible ways to escape ownership and relieve yourself of the stress of expensive maintenance fees. But if you believe that selling a timeshare is simple, you’re mistaken.
Why do many people assume selling their timeshare will be easy? Some timeshare companies tell buyers that they can eventually sell their property or even promote an internal resale program. These promises often lead owners to believe resale is straightforward.
In reality, these statements can be part of the biggest timeshare resale scams. Selling timeshares second-hand is extremely difficult, and most sellers end up losing money — if they can sell at all. This is why timeshare cancellation may be a better route for escaping unwanted vacation ownership.
Why Timeshare Resale Scams Exist
The idea that reselling timeshares is an easy way to exit ownership is misleading. One major reason for this is that there isn’t a sustainable market for timeshare resellers.
When trying to resell a timeshare on your own, you lack the tools and resources to successfully persuade buyers to take on a timeshare contract. In contrast, timeshare companies have perfected the art of convincing people to hand over their credit card and sign.
The timeshare industry thrives because of its highly structured sales process. Most timeshare sales target vacationers already enjoying a stay at a deluxe resort — often a free stay in exchange for attending a timeshare sales presentation. Attendees meet a charming salesperson trained to highlight how timeshare ownership can enhance their lifestyle. The presentation paints a picture of luxury, convenience, and attainable vacation ownership.
As a private seller, you usually cannot offer potential buyers a personal tour of your unit or resort. Instead, you must rely on quality photos, well-written online listings, and word-of-mouth marketing. Often, this isn’t enough because you’re competing with many others trying to sell their timeshares.
Competition in the Timeshare Resale Market
In traditional real estate, there are times when it’s a buyer’s market and times when it’s a seller’s market. But in the timeshare resale market, it’s always a buyer’s market. Just take a look at eBay, Craigslist, or any other website that sells timeshares. There are thousands of timeshare properties with all types of price points. You’ll even see properties selling for free where all the buyer has to do is pay closing costs and annual maintenance fees. It’s almost impossible to set your timeshare apart from the rest when you’re selling it on an online marketplace.
Instead of attempting to manage a resale by themselves, some timeshare owners hire a real estate agent to sell their property. Recruiting an agent who is knowledgeable about timeshare sales may give you a leg up on the competition. They’ll know how to price the property and who to market it toward. And though they don’t have all the expertise of a timeshare salesperson, they are better able to give a compelling tour that captures the experience of owning a timeshare.
If you don’t have the money to hire a real estate agent, you can also try hosting your own timeshare presentation party to manifest the spirit of the in-person timeshare sales experience. But even if you host an elaborate get-together with delicious food and a pool of friends and family in attendance, a sale isn’t guaranteed. It’ll still be very difficult to achieve a timeshare resale.
At this point you may find yourself thinking that your developer sold you on a timeshare scam by saying you’d be able to sell your property. You might then resort to a timeshare resale company. But be warned that many of these are also scammers.
Timeshare Resale Companies
Because the timeshare industry is heavily saturated with timeshare owners looking to sell their properties, timeshare resale companies have popped up left and right. A lot of the time you don’t even have to reach out to them. These companies will search through online resale listings and directly contact unhappy owners desperate to escape ownership.
Be warned that these companies are one of the biggest timeshare resale scams of all. The American Resort Development Association (ARDA) and some attorneys general, like the Nevada state attorney general, from across the U.S. have reported that most resale corporations are not legitimate companies.
In fact, the FTC calls out timeshare sales and resales as some of the top scams in the United States. Some of the worst scammers come from fake timeshare exit companies in Mexico. They pretend to be legitimate companies and get owners to pay fees to close lucrative sales. But in reality, they are no more than a money wiring scam often backed by drug cartels. These scammers are just looking to take your money in exchange for, most of the time, nothing.
Here’s how timeshare resale companies operate. They’ll get your phone number from an online listing and give you a call advertising their ability to help you get rid of your property ASAP. They’ll say that in exchange for an up-front fee, they’ll take care of the selling and transferring of your timeshare unit. They’ll even say they’ve already got a buyer waiting. All you have to do is give them your credit card or make a wire transfer to cover fees like closing costs and escrow.
When it comes to offers from resale companies, if it sounds too good to be true, it is. Some of the major warning signs of timeshare resale scams are if they initially contact you through a cold call, if they ask for an up-front fee, or if they have hundreds of the same timeshares listed on their website — a sure sign they are not actually selling anything. In reality, many of these companies promise you a sale, take your money, and then disappear completely. The only reason they’ll reach out again is to request more money from you.
Avoid a Timeshare Resale Scam and Pursue Cancellation
There are many types of timeshare resale scams to look out for. Whether it’s your timeshare provider, a timeshare resale company, or the timeshare industry itself telling you that managing a resale is feasible, don’t believe them. The truth is that there are far more timeshare owners looking to sell their unit than there are people who want to purchase it. If the reason why you want to sell your timeshare is because you no longer want to own it, it’s time to pursue cancellation with Centerstone Group.
If you want to avoid a timeshare resale scam and exit your timeshare for good, Centerstone Group may be able to help you find a resolution. We are a full-service advocacy group with decades of experience in the timeshare exit industry. With a leadership of timeshare exit specialists and a time-tested resolution process, we may be able to help you avoid timeshare resale scams and get you on track to cancellation. Contact us for a free consultation.