Post reply

Timeshare Industry Veteran Tells All (by Glen G.):

Hello all,

I hope this message finds all those who may be interested.

I've worked at several resorts. I've been the sales rep, the marketing rep, worked the front desk, sold travel club memberships, owned timeshare myself, successfully exited my timeshare, and have figured out some tips, tricks, and secrets that may be useful to others trying to sell, rent, or generally get rid of a timeshare.

Firstly, if you are asking yourself if you did a good thing in buying a timeshare in the first place, the answer is unequivocally YES. You want to travel, see the world, show your family the world. Those are all excellent things to desire.

Second, if you feel like you were lied to during the sales presentation, you probably were. However, most all of us were. There is a reason I didn't make it long as a timeshare sales rep - I was too honest! My sales manager literally told me to 'lie more' and to 'heat it up'. That didn't sit well with me, so that spat in my life didn't last long.

I was, however, able to learn a lot about the industry and about how to better use it, how exchanging actually works, how to rent out weeks... I learned that selling typically isn't an option, that you rarely EVER have to buy more when they claim you MUST, and that exiting your timeshare contract does in fact cost money - but it does work - it just takes some time and a little more money to be completely removed from any obligation associated with the contract.

***Truth About Selling*** Weeks sell better than points. They are actual deeded weeks, with paperwork filed at the county courthouse where the property is deeded. This means you have a tangible 1/52 of a piece of property. Most timeshares will never, ever, sell for what you bought them for from the resort. When you purchase from the resort, you are essentially paying them to put in writing that, "yes, you bought this here, from us, and we'll give you all the benefits associated with giving us all that money".

The timeshare for sale market is chalk full of scams. 99% of the offers to sell your timeshare are scams. Please beware.

Selling will not work the majority of the time.

***Truth About Renting**** Renting out your week is a fairly viable option of recouping the cost of your maintenance fees for the year, but can be a bit of a hassle. You need to be sure your resort will allow it, and be sure that the person you are renting out to is required to place their credit card on file for the stay so that you don't get charged when they break something. THIS IS IMPORTANT. Additionally, be sure and do your home work.

As a guy who has 'been there, done that' with just about every aspect of timeshare, ask you a serious question....WHY ARE YOU TRYING TO RENT IT?

Are you sick of it? Trying to cover fees? Trying to make money? All of those answers mean you may want to consider getting out of the darn thing, but that is just my two cents. See, timeshare is a luxury item....by that I mean, it cost money to be able to travel easily, to pick up the phone and go. It will never be cheaper in the long run - it the difference in an economy car and a luxury vehicle - it is a matter of preference.

***Truth About Exiting Your Timeshare*** The ONLY tried and true way of actually, legally, really getting out of your timeshare contract is to hire a firm who specializes in timeshare exits to do all the paperwork, send legal documents to the resort, the county where you purchased, give them POA, and to, yes, pay them to do all of this... however, PLEASE UNDERSTAND, that as an industry insider, this is LITERALLY THE ONLY WAY TO RELIEVE YOUR OBLIGATIONS TO THE LEGALLY BINDING CONTRACT YOU SIGNED WAY BACK WHEN.

Let me repeat that - DO NOT get scammed and pay a company to list your timeshare for sale, or for rent, or to donate it. They DO NOT WORK.

You're only option, once you've traveled the world and had your fair share of the timeshare life, is to hire some real estate pros and a few attorneys to do the job the right way!

****Just my two cents**** Just thought I'd offer up some advice on this topic. I feel compelled to help anyone who may be confused by the industry in general.

Good luck out there - don't let them talk you into buying ANY more timeshare! They always will...