Pros and Cons of Using a Timeshare Broker
If you’re reading this page you’ve probably been through all the information you can take regarding how to sell a timeshare on your own. Truth be told, it’s difficult, if not impossible, to sell a timeshare.
If you’ve tried gifting, donation, reselling on timeshare forums, eBay, Craigslist and word of mouth you are probably fed up with the lack of response you’ve received thus far. Using a broker to help sell your timeshare can be one way to rid yourself of an unwanted timeshare. BUT you have to make sure you do your research prior to entering into an agreement with an unscrupulous broker.
Advantages to Using a Timeshare Broker
1) You have limited experience in real estate transactions.
2) You do not have a lot of time to commit to advertising your timeshare for sale and dealing with potential buyers.
3) Brokers include advertising in their commission rate.
4) Brokers can show your timeshare for sale to a large network of interested buyers.
5) A broker will handle all the necessary paperwork related to the transaction.
6) A broker will act as a buffer between you and the buyer to negotiate
7) A broker will be (most likely) able to negotiate a higher selling price then you would be able to if you were acting alone.
Disadvantages to Using a Timeshare Broker
1) Cost – a broker will take a percent of the amount the timeshare is sold for.
2) You will not be able to communicate directly with the buyer.
3) If the contract needs to be renegotiated it may take a long time for this to be done.
4) You will not know much of what is being negotiated between the broker and the buyer.
5) A broker may try to charge you for other “fees” such as an upfront advertising fee or appraisal fee – these are not required under any circumstances, and you should avoid dealing with a broker that requests these fees.
6) While under contract with a broker you will be unable to accept a direct bid from another interested party.
Read – Tips on Using a Broker to Sell Timeshare for tips on how to use a broker to assist you in sellling your timeshare.
I want to report another scam company that is offering to buy timeshares. The company is Meritage Management out of Utah. Same old scam, they can sell your property, no money up front,etc. They are not licensed to do business in Utah, and according to Utah state government, they have a large complaint file. I sent them all the e-mails we had received and was advised NOT to do business with them.