5 Signs Your Timeshare Rep is Lying to You – TFTI

Tales from the Inside

In  my first blog, I spoke briefly about the fact that all Timeshare Reps were not bad people. I stand by that. However, I also have to acknowledge the fact that there is a large portion of representatives that are quite sleazy. The ones who will say anything to take your dollar.

These are the terrible peop… I mean Timeshare Reps we will be talking about in this blog.The following 5 tactics are red flags that you’re sitting with a wolf in sheep’s clothing.

They Tell You You are Required to Hear the Presentation

  • This one starts at the beginning. When you are checking into your property and are confronted by the concierge. Listen closely. There is no such thing as an owners update. I know. They make it seem so official and mandatory. They tell you about the potential equity you would be giving up by skipping the presentation. They tell you anything they can think of to make you stay. At the end of the day, you are doing it for the gift card. The only thing they want is to sell you anymore timeshare by any means necessary.

They Try to Scare You with Losing Equity or Benefits

  • This is kind of a continuation from the last point. There is no such thing as owner equity or signing off on benefits if you don’t purchase something on your presentation. This is the most obvious scare tactic used. I promise you, there is nothing they would sell you then that they wouldn’t sell you if you called them next month ready to buy.

You are Required to Run Your Credit on the Tour

  • This is a big one. It may be hard to believe that reps say this, or even harder to believe that people fall for this, but it absolutely happens. Running your credit means they can officially qualify you for financing and gets them one step closer to the sale. NEVER give authorization to run credit unless you are truly comfortable with considering a purchase.

The Lowest Package Can Get You to Hawaii

  • Nope. Not even a little bit. People who have owned timeshare for some time and tried to get into Hawaii understand how bold of a lie this is. While it is true that someone with a high enough level of ownership can get some prime weeks in Hawaii, that owner most likely isn’t going to be you. I would estimate that most timeshare reps inflate their packages capabilities by 4x what they will ever produce.

They Try to Convince You to Put the Purchase on an Exclusive Credit Card

  • This is another pretty unsettling tactic. Not the fact that they are asking you to finance the purchase, but the fact that they are selling you on a turd painted. While I cant be familiar with all of the credit cards offered in all of the timeshare offices all over the world, I can be confident in my belief that the terms and benefits are being lied about by untrustworthy reps. Interest rates, point plans, maintenance fee payment options…. The list goes on. While these are offered on typical cards, the ease of reaching their true benefits is greatly exaggerated and unrealistic.

There are other warning signs that can tip you off to a trickster, but those were the most common. Any of these situations should make your “spidey senses“ tingle. You can leave your presentation at any time regardless of what they say. If you really wanna tough it out for the gift they offered you, go for it. Just wait until your required time mark and firmly ask for your gift and carry on with your vacation.

-D

Do you have a question you’d like me to answer? Awesome! Just leave your question in the comments and I will answer a different question at the end of every blog, or may choose to focus a whole blog on your topic!

Tales From The Inside

So, there’s something I just need to come right out with…

There’s really no easy way to say it. I… used to be a Timeshare Salesman. It’s terrible, I know. Please leave your torches and pitchforks in the shed. I wasn’t your typical shady Timeshare Salesman. And since leaving the industry after nearly 3 years, I’ve turned rogue and actively warn others about the dangers of signing on the dotted line. Which is exactly what my intention is with this monthly blog.

I need to make it clear that not all Timeshare Salespeople are sleazy or mean to do anything harmful or dishonest. Most of them are new to the industry and honestly believe in what they are selling. Beautiful vacations and memories. Fresh out of training class and ready to sell some memories and make some great money in the process. Then they hit the sales floor, and everything changes.

They are assigned a manager, and the manager completely changes their sales presentation. They often tell the new representatives knowingly false information just to close more deals. Most people either don’t sell enough and get laid off, or they ignore their conscience and embrace the dark side.

The average employment length of a timeshare rep is 3 months. Almost everyone fails to reach sales goals and are laid off within a few months of starting. This is because timeshare is an extremely challenging thing to sell without withholding information or outright lying. In the industry, they call it “pitching in the gray.“ Basically, it’s not technically lying, but not telling the truth either. And it’s a term that floats around all too comfortably on sales floors.

In my time on the floor, I never knowingly told any misinformation to my guests or buyers. I did learn that my manager had given me false details on several occasions to close deals, but that is another story. I was never a top salesperson, but was never in the position to be laid off either. I made a modest amount of money, with up months and down months. I always slept well at night knowing I was honest during my presentations.

So what made me leave? Well, after learning more and more about the truth behind the programs and the people that were leading and directing us, I just had to go. I was miserable. I didn’t believe in what I was selling anymore. I certainly didn’t believe in the people I worked for.

The day I decided to leave, my manager tried to convince me that my guests terminal cancer was a great reason for her to buy our program so that she can go take the trip of a lifetime before she died in the next  months. Then, she would be dead after taking the trip, so who cares about the bill?? Yeah, that actually happened. It was my breaking point.

These are the kind of people I am here to warn you about. Those that will say anything if it means they can make some money, regardless of a person’s best interest.

I pretended to take the lady to the property to finish the presentation and took her to McDonald’s for an ice cream cone. I later put in for all the vacation time I had built up, and quit on my last day.

And here we are.

The purpose of this blog is to expose the inner-workings of the Timeshare Industry and educate the public. To provide inside knowledge from someone who spent a significant amount of time on the other end of the sales presentations. Be sure to keep up with the monthly blog to see what kind of sneaky tactics and stories I expose. Lets bring down the empire. 

-D.

Do you have a question you’d like me to answer? Awesome! Just leave your question in the comments and I will answer a different question at the end of every blog, or may choose to focus a whole blog on your topic!

Is Now a Good Time to Buy Timeshare?

If you are considering buying a timeshare, you might be wondering if now is a good time to do so. There are several factors to take into account when making this decision. The timeshare development industry has been growing steadily since the 2008 recession, according to annual studies conducted by the American Resort Development Association, with larger, healthier companies consolidating and expanding their inventories. This modest growth trend is likely to continue in 2017, unless an unexpected economic crisis or political event changes things. Rapid growth of the market, however, is hindered by factors such as low resale value, stringent government regulations, and uncertainty of the future.

buy timeshareAccording to Timesharing Today, there are several transitions in progress that will affect current and prospective timeshare owners. Maintenance fees, for example, are expected to increase between 2-5% on average this year as HOA boards attempt to offset increasing delinquencies with the need to renovate older units and onsite amenities at legacy resorts. The secondary market will likely continue to struggle as many original timeshare owners begin to age out of their timeshare travel and resale inventory outnumbers demand. While timeshares were a popular vacation option for baby boomers and the generation before them, it seems as though millennials are not as enthralled with the idea. Younger generations are tending to prefer short, spontaneous vacations as opposed to week-long stays at one resort, and are especially cautious of lifelong purchase contracts. It remains unclear how the millennial generation will react to and impact the timeshare industry as they age.

Another wild card factor for the future of the timeshare industry is the trajectory of President Trump’s time in office. During his campaign, the Republican Party adopted a platform that included a promise to dismantle the Consumer Financial Protection Bureau (CFPB), which investigates complaints about financial credit and loan programs that may defraud consumers. It is currently investigating numerous industries and at least one timeshare company, Westgate Resorts, for their practice of financing owners’ timeshare purchases. Again, Trump’s regulatory reform policies remain unclear.

So, while there are some uncertainties that lie ahead regarding the industry as a whole, it still may be a good time to purchase. You can be confident that at this moment in time, the timeshare industry is growing steadily and relatively healthy. Be sure, however, to ask yourself these questions and do your research before moving forward. Make sure you are ready for the large time and financial commitment that comes with timeshare ownership. And also be aware that once you own a timeshare, it can be very difficult to get rid of, as the struggling resale market suggests.