There are a lot of scammers out there who make it their life work to be false timeshare resale brokers. They can be persuasive, and when they tell you all about the exotic, breathtaking locations they have waiting for your taking, you might feel compelled to take them on their offer. But that could be the worst idea yet. Once they have your money, you’ll discover that there is no such vacation home waiting for you. This doesn’t always happen, but when it does, it is heartbreaking. If you’re lucky enough, you might deal with timeshare brokers that simply aren’t experts in their field. Still, why go through any of that when you can find a genuine, professional broker who knows what’s best for you? Many experts recommend you ask these questions to a timeshare broker in order to discover if he or she is a real, certified broker:
How long have you been in business? The length of time a timeshare resale broker has been in business speaks volumes about the stability of their organization as well as the morality of their practices. For instance, it is a positive sign if they answer that they have had their company for a decade or two, indicating that they are qualified to assist both buyers and sellers in their timeshare needs.
How much have you sold? A good indicator of success can be established by the volume of sales a company has had yearly, quarterly, or since the inception of the company. It is a good idea to ask how much the company has sold in volume within a timeframe. Since they’ve started their business nearly fifteen years ago, have they sold millions of dollars in timeshare? How about this year alone? Analyzing their sales’ success will give you a good idea about their work with you.
What is your incentive to sell? A timeshare broker should have a motivation, such as a sales commission, to ensure there is an incentive to get your property sold. There needs to be an incentive for a sales agent to solicit potential buyers and offer your property to those looking to buy on the resale market. Ask resale brokers if they charge upfront fees for listings. If they answer yes, be cautious. It is critical that the resale broker have a motivation, such as by charging a commission of a percentage or flat rate at the time of closing.
Can you guarantee the sale of the property? Asking a timeshare resales agent if the sale of your property can be guaranteed is a good way to determine if the sales agent you are working with has integrity. If the answer is yes to the guaranteed sale, then you should probably look for other representation, as it is more than likely that this is a scam. A trustworthy timeshare broker never guarantees a specific timeframe in which your property can sell; however, the timeshare resale company should guarantee that they will work their hardest to get the property the proper exposure for the quickest turnover possible.
Are you licensed to sell? Timeshare brokers must employ licensed real estate agents who are governed and bounded by regulations that ensure their sales techniques and processes take place within legal and ethical guidelines. By utilizing a timeshare broker who employs licensed agents, you have the rules and regulations dictated by a higher authority on your side. If a timeshare company does not have licensed agents, it is an advertising company, which is not permitted to negotiate on your behalf, nor do they have incentive to sell since they legally cannot charge you a commission.
Are you a timeshare resale specialist? The timeshare business is a very unique specialty. A general real estate brokerage does not have the knowledge, tools, or coordination with the resorts to transfer your property in a timely manner. Make sure the broker you choose only sells timeshare property rather than participating in any residential or commercial transactions.
If you are considering buying or selling a timeshare resale property, these important questions should be asked to the timeshare broker you are speaking to. This way, if there is a scam involved, you would know, and if the broker is specialized but doesn’t have enough experience, you would also know. This will help you make the most informed decision that will make you the happiest in the end.
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