Timeshares are a great way to enjoy luxury vacations. Your timeshare property has given you the chance to vacation at world-class resorts. Eventually life changes; your family has grown, your finances are different, or your timeshare property no longer fits your lifestyle as it once did. This is when you will likely start thinking, “I need to sell my timeshare”. Whether you want to sell your timeshare because you no longer use it or because you need the money, you will likely want to sell it quickly.Tip #1 – PricingThe key to successfully selling a timeshare is to first do some research and set the selling price at a realistic level. It must be priced at what the market dictates in order to attract interested buyers. Timeshares usually appreciate rather slowly but you should be able to recoup your initial investment.Tip #2 – AdvertisingThe second and most important step is to advertise, advertise, advertise. Get the word out to as many interested buyers as you possibly can. This can be rather time consuming, but the effort will pay off.The quickest, easiest way to advertise you timeshare property is to use the services of a listing agency that provides widespread advertising. By enlisting the help of marketing professionals that specialize in timeshare sales and rentals, your property-listing can reach millions of interested buyers. They may use such advertising resources as direct mail, print, or telemarketing in order to maximize exposure to potential buyers.Potential buyers also browse the listings that are posted on the agency website. The timeshare listing service will assist you with putting together an attractive listing and manage all the leads. Using a proven marketing system will make selling your timeshare property virtually hands off. You can avoid all the stress and hassle of enlisting the services of a timeshare broker and get the results you are looking for.Tip #3- Information GatheringOnce you have decided to sell your timeshare property, gather all of the important documentation you have received regarding your ownership rights. Providing clear, accurate information to interested buyers will make the process much more streamlined. Buyers that cannot easily get answers to their questions may get frustrated and move on to the next available property.When you begin to advertise your property, clearly point out all of the benefits of your timeshare. Post clear pictures and give a good description so the buyer can really envision spending wonderful vacations at the resort for years to come. Once you have done this, the agency takes over from there and gets the word out to millions of interested buyers.Effective advertising is the key to selling your timeshare quickly. It is possible to advertise it yourself but it can take up a good part of your valuable time. In order to move your property quickly and without a hassle enlisting the help of marketing professionals is a wise choice. They are experienced at bringing buyers and sellers together, leaving both parties extremely satisfied.
It’s ugly out there. And, I know a lot of real estate investors are feeling some serious pain. And we can relate to pain. We’ve had more than one conversation about giving up… just selling all of our properties and forgetting about our early retirement plans.You see, several years ago, my husband Dave was fined by the City of Niagara Falls for fire code violations at the same time as his former property manager of the same building was on trial for second degree murder. We were dealing with this while discovering that our Toronto tri-plex property manager had been robbing rent money from us! We clearly were in over our heads with our real estate investments and as problem after problem arose we thought seriously about selling it all.We didn’t. Somehow we found a way to just deal with all of the real estate investing problems we were having…but, then it got worse. We soon found ourselves with a $25,000 bill to rewire a tri-plex we own (the owner before us had used telephone wiring inside of the walls instead of electrical wiring and our wires were fried), and this came only a few months after spending $5,000 to fix the plumbing in the basement where tree roots had taken over and caused the sewer to back up into the suite.So, just as we thought it couldn’t get worse, it did. We had gone head first into “The Dip”.My coworker Jason recommended I read a short little book called The Dip by Seth Godin. He thought it would be a great one for me to read because I had just quit my job. Turns out, it was a great read, but I found myself relating this 80 page book to our real estate investing even more than I related it to my career.The guts of the book is about quitting more, but quitting at the right time. As Seth Godin repeats in the book, before you start anything, know at what points you will allow yourself to quit. Quitting is good when you do it at the right time… quit more!Real estate investing is not easy, but it is simple. Anyone can do it. But not everyone will succeed. And I think Seth has found the fundamental reasons why many people won’t succeed. It’s not because real estate is difficult to understand or hard to implement. It’s because sometimes the stress, the pain and the challenges are just so darn hard all you want to do is quit. And, according to Seth’s book, you’re quitting at the wrong time. You need to figure out, before you even start, when you will quit. If you just quit when it gets tough, you’ve gone just far enough to have wasted your time, but not far enough to have achieved anything.We pushed through The Dip, and it’s good we did. Had we sold out at that time we would have missed out on one of the largest upswings in the housing market in history.I don’t want to spoil the entire book, because I think it’s a great read for anyone, real estate investor or not. But I’d like to share three tips from The Dip, as they apply to real estate investing in my mind:
When you hit that moment where quitting seems like the best solution, push through. Strive to be the greatest real estate investor in your world. And remember, you define your world. This could mean in your family, in your town, or in your country. The point is to push through with the dream of being the best!
Quit when you reach a Cul de Sac – sell any properties that are losing money or that are not going to make you more money tomorrow than they are making you today.
Know when you’ll quit before you start anything. In real estate investing terms: before you even think about buying your first or your next property, think about when you will sell it. To me it’s the biggest real estate investing tip ever. Think about when, and how, you will sell your property when you buy it. Always buy with the end in mind… which is kind of like saying know when you’ll quit before you start!