Selling time shares is not a new thing. According to some studies, people have been actively participating in the selling and buying of time shares for ages, particularly in 1960’s - in a ski resort in Europe where a developer encouraged visitors to buy the resort, instead of renting rooms.
What Is A Timeshare?
A timeshare is really any piece of asset, property or the right to use such an asset or property, but which right (right-to-use) is also shared or stretched among multiple parties. The business model for this practice involves primarily two parties: one, the business entity who owns and eventually sells the assets and property; and two, the customer who buys small timeslices of these said assets and properties.
If you are a property owner, it would be easy enough to sell a timeshare of your asset or property. However, it is highly recommended that you get a broker to do this for you if you are not at all conversant with timeshare brokerage. Getting legal advice from a lawyer about property rights might also be a good idea, particularly if you want to have a written contract addressed to your and your customers’ names. Attractive properties in equally attractive locations are usually parceled off as timeshares, but even less glamorous condo units and apartments can be sold off using this business model. As a property owner, you would need to ask your broker how to best parcel off your profit in order for you to gain a steady income.
On the other hand, customers who buy timeshares can do several things with their share. They can: rent out the time they bought to others; exchange it for some other asset within the same property; use the actual time they bought; use it as a gift to others; and yes, even sell it to others.
How To Resell Your Timeshare
Truth be told: reselling timeshares can be very tricky. More often than not, reselling timeshares do not even net the previous owner any form of profit at all. The best advice that we can offer is that you never sell in haste. Time is sometimes of the essence, especially if the allotted time you have is almost upon you. However, a little foresight in planning can help you sell your timeshare with profits to boot. Timing can be crucial, so it would be best to sell your piece during the peak demand season or at least, projected dates where people are actually desperate to buy a timeshare – any timeshare – in the property you have. Also, make it a point to buy usage dates during the peak seasons of the locale. This makes it easier to resell than the off season ones.
We know that you are after a profit here (aren’t we all;) but if you are going to price your timeshare in the higher brackets, you have to make sure that people are actually going to like what they are seeing. You have to maintain your property; keep it clean and decent enough to account for the high price. If you do not have a particularly prepossessing space, a little shrewd computation and maybe one or more timeshare advice from your local broker can help you net a profit still without going overboard, or scaring off potential customers.
Getting your property listed in real estate papers would also be a great idea.
