Timeshare BROKERS, Can I Trust Them?
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Timeshare ownership has mainly been known for two things: its beautiful properties and its frightening sales practices.
Due to the fraudulent tactics used by some timeshare companies to sell vacation memberships, there are many timeshare owners who feel they were scammed with their purchase.
Desperate to recover some of the money they lost, some of them tried to sell their properties.
The cold facts are that timeshares are really difficult to sell.
The supply of timeshares significantly exceeds the demand, which makes the resale of a timeshare next to impossible.
However, there are many options to consider when trying to sell a timeshare, and one of the most popular is hiring timeshare brokers to take care of the sale.
A broker is a licensed Real Estate agent who specializes in selling timeshares according to the client’s interests.
When you hire the services of a timeshare broker or agent, you are allowing them to take part in the timeshare resale process.
Brokers must have knowledge and business contacts in the timeshare industry, as well as experience in negotiating timeshare sales.
Timeshare brokers are in charge of training all sales agents.
They are also responsible for ensuring that the contracts to get the sale done are prepared correctly.
They charge a commission once the timeshare transaction is done because they work as an intermediary, and most times the seller never meets the buyer.
Beware of Dealing with illegitimate Companies
The biggest problem with timeshares is that they lose value immediately after the purchase, and reselling a timeshare can be an expensive and potentially dangerous proposition.
As it happens with many timeshare resale companies, there are lots of illegitimate timeshare brokers.
Even though they can be very convincing, friendly, helpful and trustworthy at the beginning, once they earn your trust, you will be very likely to be scammed.
Finding a good timeshare broker is not simple, not all real estate brokers deal with timeshare sales, and reselling a timeshare is not an easy job.
Holiday ownership is not considered a financial investment, and no one is willing to pay the timeshare maintenance fees.
Because of these reasons, along with the struggling economy and the bad reputation timeshares have gained in the last few years, selecting the right broker is very important.
Tips to Protect Yourself
There are many financial and legal aspects to consider when trying to sell your timeshare. Before hiring the services of any timeshare resale broker, we highly recommend that you follow these tips:
- Never pay an upfront fee in the effort to sell your timeshare. Licensed brokers aren’t allowed to ask for upfront fees. They can only collect fees after the sale is done.
- When dealing with brokers, do it on a commission only basis.
- Make sure the timeshare sales agents are really licensed
- Beware of unsolicited phone calls giving you unrealistic promises about the sale of your timeshare
- Verify that the interested entities are who they declare to be
- Research some good timeshare brokers near your timeshare unit
- Do not hesitate to ask anything related to their success or experience in selling timeshares
Visit our article on timeshare resale scam companies to learn more tips on how to protect yourself from being scammed.
Heads-up!
Unfortunately, the resale of a timeshare is not the best option to get rid of an unwanted vacation property since there is no “hot market” for timeshares, and never will be.
On the other hand, timeshare cancellation is the most effective solution to dump a timeshare. When properly canceling a timeshare, there are no further strings attached to the resort.
At Mexican Timeshare Solutions, we assist timeshare owners who feel they were scammed. Contact Mexican Timeshare Solutions today for a free consultation on your matter and to get a final relief from your timeshare contract.
To receive more information about timeshare brokers and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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