Timeshare Resale Market – It is Not a Relief That the Supply Exceeds the Demand
For a variety of reasons, people want to sell their timeshare ownership. These reasons include death, divorce, financial emergencies, changes in personal vacation habits and preferences, or an overall change in lifestyle. If you are a timeshare owner and you found out that owning one no longer works for you, then probably, you will opt to sell it out.
Selling your timeshare is a good option; the question is will you be able to get it sold? It has been a popular notion that once you own a timeshare, it wouldn’t be easy to dump it down the road. Why? There are three reasons why the task of selling your timeshare on a resale market is hard to achieve.
Competition against other timeshare owners. There are a lot of timeshare owners just like you who are also trying to sell their timeshares, and a sale will matter based on ones marketing strategy to step up and have an edge against the rest.
Timeshare developers are keeping up with the competition. You will not only get to compete with your co-timeshare owners, but even timeshare developers are keeping up with the competition. They can often underbid all other prices because they have the volume of units. Some money lost in one sale can be offset by the sale of another unit or by the lifetime of maintenance fees that the new owners will be paying in the future.
Underlying economic reasons. For the past two decades, about 3.3 percent of timeshares listed have been sold on the resale market. Trying to sell it in today’s economic climate may make it even more difficult. People who might have bought last year nowadays are trying to live a frugal way of life and owning a timeshare is way beyond practical.
All in all, the possibility for a timeshare owner like you to get a timeshare relief through selling your timeshares is extremely small. You’ll only end up waiting for a long time and even spending a great deal of money on advertising and broker fees, and while the clock is ticking, you’ll never notice that a special assessment fee along with the annual maintenance fee is on its way.
I am a timeshare relief consultant and an advocate to help people get rid of timeshare.
