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Timeshare ownership has mainly been known for two things: its beautiful properties and its frightening sales practices.
Due to the fraudulent tactics used by some timeshare companies to sell vacation memberships, there are many timeshare owners who feel they were scammed with their purchase.
Desperate to recover some of the money they lost, some of them tried to sell their properties.
The cold facts are that timeshares are really difficult to sell.
The supply of timeshares significantly exceeds the demand, which makes the resale of a timeshare next to impossible.
However, there are many options to consider when trying to sell a timeshare, and one of the most popular is hiring timeshare brokers to take care of the sale.
A broker is a licensed Real Estate agent who specializes in selling timeshares according to the client’s interests.
When you hire the services of a timeshare broker or agent, you are allowing them to take part in the timeshare resale process.
Brokers must have knowledge and business contacts in the timeshare industry, as well as experience in negotiating timeshare sales.
Timeshare brokers are in charge of training all sales agents.
They are also responsible for ensuring that the contracts to get the sale done are prepared correctly.
They charge a commission once the timeshare transaction is done because they work as an intermediary, and most times the seller never meets the buyer.
Beware of Dealing with illegitimate Companies
The biggest problem with timeshares is that they lose value immediately after the purchase, and reselling a timeshare can be an expensive and potentially dangerous proposition.
As it happens with many timeshare resale companies, there are lots of illegitimate timeshare brokers.
Even though they can be very convincing, friendly, helpful and trustworthy at the beginning, once they earn your trust, you will be very likely to be scammed.
Finding a good timeshare broker is not simple, not all real estate brokers deal with timeshare sales, and reselling a timeshare is not an easy job.
Holiday ownership is not considered a financial investment, and no one is willing to pay the timeshare maintenance fees.
Because of these reasons, along with the struggling economy and the bad reputation timeshares have gained in the last few years, selecting the right broker is very important.
Tips to Protect Yourself
There are many financial and legal aspects to consider when trying to sell your timeshare. Before hiring the services of any timeshare resale broker, we highly recommend that you follow these tips:
- Never pay an upfront fee in the effort to sell your timeshare. Licensed brokers aren’t allowed to ask for upfront fees. They can only collect fees after the sale is done.
- When dealing with brokers, do it on a commission only basis.
- Make sure the timeshare sales agents are really licensed
- Beware of unsolicited phone calls giving you unrealistic promises about the sale of your timeshare
- Verify that the interested entities are who they declare to be
- Research some good timeshare brokers near your timeshare unit
- Do not hesitate to ask anything related to their success or experience in selling timeshares
Visit our article on timeshare resale scam companies to learn more tips on how to protect yourself from being scammed.
Heads-up!
Unfortunately, the resale of a timeshare is not the best option to get rid of an unwanted vacation property since there is no “hot market” for timeshares, and never will be.
On the other hand, timeshare cancellation is the most effective solution to dump a timeshare. When properly canceling a timeshare, there are no further strings attached to the resort.
At Mexican Timeshare Solutions, we assist timeshare owners who feel they were scammed. Contact Mexican Timeshare Solutions today for a free consultation on your matter and to get a final relief from your timeshare contract.
To receive more information about timeshare brokers and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
Information to Share
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I dont think so , I was a victim of promotions like these, I let go and lost my head, actually people convinced me that it would be a good opportunity for me and my family, to date I still paying services from the resort , i dont know how this people can steal money like this , stay away .
NEVER TRUST THEM, they just want to rob you AGAIN
I was so persuaded to buy a timeshare. This sales representatives are over orchestred to make you fall in their trap
muchas veces no nos queda mas que confiar y es ahi cuando se aprovechan, mucho cuidado :/
One of the main problems is you will never get your money out of it. You will never sell the timeshare for what you paid for it. Also even if you pay your annual fees and have enough points everytime you go you have to pay a cleaning fee, which is usually ridiculous!
creo que la gran mayoria se aprovecha de la necesidad del cliente
This is very straightforward.
1. Any legitimate deal that is good today will be good tomorrow.
2 If you aren't given an opportunity to read the contract and the fine print...stay away.
3. High pressure tactics have no place in legitimate consumer transactions.
4. Any salesperson trying to use guilt is scamming you.
I too have a problem with timeshares. I purchased mine 25 years ago when it was great for vacationing. You could swap it for a fee of course. Now, it's not good enough to exchange somewhere else without throwing in additional weeks so you will have more points, of course it has to be all inclusive and so far I have had no luck exchanging it at all because my resort where I purchased no longer can compete with all the new resorts but you can't exchange it because your unit is not good enough or powerful enough to exchange. So, now I am stuck with it, no one wants it. I have even tried to give it away. I can't exchange it. I have lost so many weeks the past few years from not being able to exchange it. Then of course they will rent it for you, but you don't get any money for it because they say no one rented your unit. Yet, you call them and they say they have no vacancy for that week. All the rules have changed since we purchased our unit and we all should be able to get out of this nightmare without it ruining our credit rating. They are ripping people off left and right and all these wonderful people now buying in, will also see the light when it is too late. These reps will lie, cheat and steal to talk you into this stuff. I suggest we all file a class action lawsuit against these resorts and file against them at the better business bureau. Whatever it takes to get good people out of these things.
hay muchas empresas que si hacen su trabajo, pero muchas veces cuando nos desesperamos contratamos lo primero que encontramos, mucho cuidado con eso
if you have been scammed, never trust again!!! cause they just want to keep stealing your money
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