There are well-established timeshare resale companies that work hard to find a buyer for you, but there are also others on the Internet and elsewhere that simply do not deliver what they promise.
In many states, timeshare resale activities are unregulated, so do your homework. Unlicensed “resellers” can advertise your property (which you can do yourself) but usually cannot actually sell it for you. You will still have to do that part yourself.
Some advertising companies may be able to refer you to an affiliated licensed real estate professional or attorney, but make sure you understand all costs and promised services in advance. Also, check to see if any fees you agree to pay up front will be applied towards the resales commission.
Be sure to check out the licensing status (see information under Using Licensed Brokers.
Ask what methods the company will use to advertise and promote the property and how you can get regular information on the status of the company’s resale efforts for you.
Be sure to know exactly what services the company will perform and how much it will cost before making any payments or giving any credit card information.
If you receive an unsolicited offer by telephone, experts advise not to make an immediate decision and not to give any credit card information. Ask the solicitor to provide any offer in writing and email or mail it to you.
The American Resort Development Association (ARDA) advises caution with any company requesting hundreds of dollars in advance for a “listing fee” – often just another term for advertising, which you can often do yourself. Ask for disclosure on how much of the company’s revenues come from listing fees versus how much revenue it generates by actually closing sales transactions. Up-front fees may be called advertising fees, appraisal fees or membership fees. You should check with the appropriate state government agency, such as the Real Estate Commission, Department or Division of Real Estate, or Bureau of Timesharing to determine the legality of any up-front fee. If your state allows such fees, get a written statement on how the fees will be used and confirm that the information be included in the listing contract.
Never give up the right to use your timeshare accommodations for any purpose while selling. Beware of any offers that sound too good to be true—they probably are. Investigate any resale promotions that seem too expensive to you—and don’t pay until you get all the details in a written contract.
The American Resort Development Association (ARDA) does not endorse or otherwise recommend specific companies. ARDA can only verify if a company is a current member of the trade association and has therefore agreed to abide by the ARDA Code of Ethics.
If someone guarantees the sale of your timeshare – hang up.
