Important Considerations In Choosing The Right Timeshare Broker

Contrary to what you may believe, finding a reputable real estate broker is relatively easy

, and in fact, you'll come across them everywhere. However, when it comes to timeshare property brokers, it's a whole different ballgame, and of course, not all real estate brokers become involved with the resale of timeshare properties. For the most part, you may well find that there are several timeshare brokers operating in some of the popular coastal regions such as Florida, North Carolina, and South Carolina. As a result, it can often prove to be quite difficult when you wish to sell a timeshare, and it's almost always more challenging than trying to sell real estate. This is largely due to the fact that a timeshare property shouldn't really be purchased as an investment.

In fact, a timeshare property should only really be purchased for individual use. Obviously things happen in a person's life and sometimes it becomes necessary for an individual to sell their timeshare, but the thing to bear in mind is that a timeshare usually sells for approximately 30 to 50% below the original purchase price. Because selling a timeshare can take a considerable amount of time, and considering that they are not easy to sell, it's practically essential to make sure you choose a good broker.

The most important thing for you to do when you wish to sell your timeshare is you need to do some research regarding a few brokers who are in the vicinity of the property you wish to sell. This of course will afford you an opportunity to determine whether a given broker has had success in selling similar timeshares in the past, and you should also be able to determine the average length of time it took for them to sell other timeshare properties. Most importantly of all however, is that you'll be able to see the average price they managed to secure.

They are also less likely to play games or cheat you because of their name. Do not hesitate to ask questions related to their success in selling timeshares, their experience in selling timeshares of the timeshare resort you hold timeshares with. Also find out the average time that a timeshare property sits in the market before being sold and last but not the least the average selling price of the properties they sold. Now compare these aspects of some brokers and go with the best one.

It is not a bad idea to find out people in your development who have recently sold their timeshare units and ask them which broker they hired to resale their units. Also take inputs on broker's performance in handling the resale of your timeshare unit and did they get the best possible return on their sale.

Another very important factor which needs to be considered is cost, bearing in mind that some brokers charge an astronomical commission and some even require you to pay a large upfront fee which can be as much as $500. In order to safeguard yourself you should always ask your broker to put everything down in writing so that you know exactly where you stand. Even though you should ideally choose a broker who doesn't charge any upfront fees, you need to remember that some timeshare owners set their price far too high, and this of course means that it could take ages for the property to sell. This is essentially why some brokers charge a fee upfront, and to be honest, you can't really blame them.

Try to find about the background of the broker through better business bureau. Also ask the broker some important questions like what strategy they will be employing to sell their unit, estimated time it will take to sell the unit. The broker should be able to answer all your questions. If the broker is unwilling or unable to answer your questions they you may better look out for some other broker. Thus, a good broker who charges reasonable commission is critical for the resale of your timeshare because it is in the hands of the broker to make or break a deal and fetch a good value to your timeshare unit.

by: Eric Frey

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