Thursday, October 07, 2010

5 Tips on How to Maximize your Timeshare Resale Value

Ready to sell your timeshare? Take a look at these 5 tips on how to maximize the value of your unit on the timeshare resale market.
  1. Condition
    Prospective buyers will be paying particular attention to the condition of the unit, especially the bathroom and kitchen, and the condition of the furniture. Be sure all plumbing is in working order, as well as the kitchen appliances, electrical outlets, and the fold-away beds. If there are any problems, report them to your resort maintenance department, and be sure to follow up on the progress of repairs. If you are responsible for maintenance of the unit, make sure you get all repairs completed before putting the unit on the market.

    How clean a unit is can certainly be a deciding factor in a buyer's decision. If your unit has been unoccupied for a period of time, make sure to clean it thoroughly, or talk to the resort's housekeeping department regarding the cleaning needs.

  2. Pricing
    To determine a fair and equitable price point, do your research. Check the classified ads for current sales and closing resale prices for units available at your resort, as well as other resorts in the area. See other listings on RedWeek.com to compare what other units at your resort are selling for.

  3. Advertising
    When offering your timeshare for sale you'll want to highlight such factors as location (beach, mountain, theme parks), resort amenities (pools, spa facilities, family-friendly aspects), and the resort's rating and reviews.

    Also be specific about the potential savings if the buyer purchases the timeshare from you rather than through a broker or the resort itself. If your research shows that the price difference will be minimal, focus your advertising instead on luring out-of-town buyers with the location, attractions, resort reviews, etc.

  4. Listing
    To maximize your profit margin, don't spend large amounts of money listing your timeshare. There are many other, inexpensive, ways to go. An online timeshare marketplace such as RedWeek allows you to get the most out of your listing dollar by paying a minimal listing fee and getting the potential of reaching millions of prospective buyers around the world.

  5. Educated Buyers
    A good tip here is to focus on advertising to potential buyers who are already educated about the benefits and how-tos of timeshare ownership. Working with knowledgeable buyers can help eliminate the need for extensive information sessions, and the possibility of cold feet at the last minute.

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