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There is important information timeshare sellers should know when deciding what company they want to represent them during the timeshare resale process. While there are many different types of resale companies out there, it is important that one chooses a licensed broker instead of an advertising company or falling into the hands of a fly by night organization, which many people do because they have never sold a timeshare before so they are not familiar with the resale process. Remember, the main goal is to get your timeshare sold, therefore, we recommend asking these questions to help ensure that you are choosing the right company when you decide to sell. 1.How long has the company been in business? The length of time that a timeshare resale company has been in business speaks volumes about the stability of their organization as well as the morality of their practices. You don't want to fall into the hands of a fly-by-night organization. 2.How much has the company sold? A good marker of success can be established by the volume of sales the company has under its belt yearly, quarterly or since the inception of the company. Potential sellers should know how much the company has sold in volume within a time frame. 3.What is their incentive to sell YOUR property? A timeshare resale company should have a motivation, such as a sales commission, to ensure there is an incentive to get YOUR property sold. Without it, there is no driving force to solicit the property in front of potential buyers. There needs to be an incentive for a sales agent to solicit potential buyers and offer the property to those looking to buy on the resale market. The last thing a seller would want is for their property to sit on a website where the company could care less if it sells or not. If the company does not get anything out of it after they have found a buyer, prepared the contracts for everyone to sign, get the contracts to a title company and follow it through until funding is made, then why would they do all that? A Brokerage firm will get a sales commission at closing so the sooner they sell it, the sooner they get the sales commission, not only that, the more they get for the seller, the more the brokerage firm will make if they get paid a percentage of the sale. 4.What is the size of their sales staff? The number of sales agents at a timeshare resale office will indicate how successful the resale company can be. Since commission based sales agents are motivated by a percentage or fee awarded for each sell, a large group of sales agents in one office is indicative of the amount of sales and closings taking place at the resale broker's office. Not only that, but the agent that sells the property is the agent that gets the sales commission, so the agents are competing against each other to sell the property first before another agent within the organization sells it. 5.Will the company guarantee the sale of your property? Some sellers may ask if the sale of their property can be guaranteed? Seasoned timeshare sellers and brokers know that a sale CANNOT be guaranteed and use this question to quickly determine if the sales agent they are speaking with has integrity. There is no way to guarantee the length of time to sell a timeshare or the exact amount that a timeshare is going to sell for. That is another reason to ensure the sales agents have an incentive (usually known as the sales commission) to get it sold. The sooner they do, the sooner they get the sales commission. 6.How much of the sales process can they complete? The paperwork that involves recording deeds, transferring ownership, escrow, estoppels and other contracts associated with the timeshare resale process can be quite burdensome. When a timeshare resale agent handles all of the sales process from inquiry to closing, it is a good indication that lends credence to the expertise, dependability and legitimacy of the agent and broker. It gives the seller a sense of comfort and confidence when a sales agent displays and shares the knowledge in the requirements of selling a timeshare on the resale market. It is important to have a licensed professional represent you to ensure that the resale process is handled properly and that your best interest is at heart. 7.Are they licensed to sell or bound by any regulations? A resale broker that employs Licensed Agents or REALTORS® is governed and bound by regulations that ensure the sales techniques and processes take place within moral guidelines. When a seller utilizes a resale broker who uses licensed agents, the rules and regulations dictated by a higher authority are there to protect the seller. When dealing with a REALTOR®, the agent has a strict code of ethics that they are bound by so you can feel confident that you will be treated with the professionalism that such a license demands. Some resale companies do not have a Real Estate License, therefore, not allowing them to negotiate the sale on your behalf and look out for your best interest, in fact, they cannot even collect a commission when the timeshare is sold leaving them with no incentive to sell it as mentioned in number 3. 8.What can they sell it for? While there are different resorts, locations, number of bedrooms, etc. A Broker will need to know what the minimum is that you will be willing to accept and it is their job to get the most they can for you. A licensed agent will qualify the buyer to find out the most that they are willing to spend giving them an opportunity to exceed your minimum price with the hopes they will make more on the sales commission. You must keep in mind that timeshares sell for different prices to different people everyday. Typically timeshares are worth 25-50% off the developer's current pricing. *Some resort locations may vary. 9.Do they have an Exclusive Right to Sell the timeshare? Exclusive Right to sell is a very important question to get answered right away. If a timeshare resale broker has an Exclusive Right to sell a property, the seller must allow them to make the sale during the contractual period that was agreed to. If a seller sells their timeshare by other means, whether through another agency or on their own, the seller is still responsible for paying the Exclusive Right to Sell Agency the penalty or commission agreed upon even if they did not facilitate the sale of the property. A timeshare seller is better off agreeing to an Open Listing type of agreement to avoid any penalties incase the seller happens to sell their property through other means as mentioned above. 10.How do they market your timeshare? Where do they advertise? Find out what methods the Agency uses to attract buyers, since buyers are what's needed to successfully sell your timeshare. You want your property exposed as much as possible. The more exposure the property receives, the quicker a sale can be generated. Timeshare Auctions have been a proven method of successful timeshare selling for many years. Find out what type of internet presence your property will be receiving. More and more potential buyers are internet savvy and know what to look for when purchasing a timeshare on the resale market. Where do they advertise? EXPOSURE, EXPOSURE and more EXPOSURE is what your timeshare needs. These are very important questions sellers should know the answers to in order to make a just decision on who they want to represent them through the resale process. When dealing with an Agency that is licensed and employs REALTORS®, you are already headed in the right direction. You will find a wealth of information at http://www.TimeShareLink.com including contact information to speak with a REALTOR® who can assist you with any questions you may have when it comes to selling your timeshare or your interest in buying a timeshare. Article Source: http://EzineArticles.com/?expert=R_Hillman
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