For Sale by Owner (FSBO)
Okay. So, you’re ready to sell your timeshare, and you’ve decided to sell it yourself to avoid paying commissions. Here are some of the steps you will need to take to get your timeshare sold For Sale By Owner.
STEP #1 Advertising. You already know that in order to give your timeshare property maximum exposure in the secondary or resale market, you have to advertise it nationally. So, you place an ad in a major national newspaper. USA TODAY is probably one of the best publications to attract timeshare buyers. A one week minimum 4-line classified ad running M-F costs over $1,000. (Remember, local advertising by itself typically does not generate sufficient buyer exposure to get timeshare properties sold.)
STEP #2 Setting the price. It’s a good resort. But how should you price your unit? What will the market bear? You need to research the fair market value of your unit with similar units (i.e. same season”red, white, blue, green, yellow, platinum, gold, silver, bronze, high, medium, low, etc.; number of bedrooms, deeded, right-to-use, fixed, floating, bi-annual, quartershare or fractional, point systems, etc.) You don’t want it overpriced, but you sure don’t want your price eroded either!
STEP #3 Negotiating the sale. If a buyer calls, you have to SELL him on it, tell him how GREAT it is, how much FUN he can have, how the EXCHANGE program works, what the maintenance FEES are and still how much MONEY he’ll be saving over the retail price all the while crossing your fingers and hoping that he’s genuinely interested and not just shopping.
