Is SMTM an above board timeshare resale site?

[mountainboy]

Think you're talking about Timeshare Nation rather than Sell My Timeshare Now. They aren't connected to my knowledge.

Yes :-(
Sorry, my bad; will delete post.
TY!

 

[escanoe]

I wouldn't recommend using SMTN to purchase a TS and certainly not to sell one.

I would buy from them, but you have to know what you are doing and do your due diligence. Of the couple I started to buy, they did not survive a due diligence check because of the seller/victim didn’t know enough to get the listing right.

I absolutely, under no circumstance would pay them to list something I was trying to sell.

 

[brp]

Other than that, how did you like the play, Mrs. Lincoln?

Yes, exactly that. I was actually thinking of this one when I wrote my post

Cheers.

 

[RX8]

My son in law purchased a unit from them a couple of years ago. He was able to negotiate the bottom line a bit and paid about $2K total for a 4 BR fixed week 29 VV Williamsburg with the current year included. He felt it was worth it, and he’s very happy with his purchase.

Savvy buyers know the market and will negotiate the price like your son-in-law. With inflated closing costs, savvy buyers factor that into their total out of pocket cost and if the out of pocket is higher than market value, they will negotiate the price down (I don’t think SMTN’s closing costs are negotiable). So, the timeshare owner pays a hefty fee to advertise and then may have to lower their sale price to account for SMTN’s inflated closing costs

 

[echino]

Their closing costs are not just high, they are extremely slow too. I bought a non-deeded timeshare via SMTN, where closing consisted of filling out a simple ownership transfer form and could be done in a couple of weeks. SMTN took more than a year to do that (after charging me thousands for closing) which resulted in me losing a year of usage, which they of course did not reimburse. I still got a good deal money-wise, but will not deal with them again.

 

[ZacharyBattles]

Sell My Timeshare Now (SMTN) is strictly a marketing and advertising company. They charge upfront fees to promote timeshare ownerships for sale on behalf of owners. They are not a licensed resale brokerage and therefore cannot facilitate the sale themselves. Instead, all purchase or offer inquiries submitted through their site are handled by Timeshare Broker Services (TBS) (not to be confused with Timeshare Broker Associates or Timeshare Broker Sales). Since TBS is a separate entity, they also take a commission—ultimately reducing the seller’s net proceeds even further (don't forget the upfront fee charged by SMTN).

All sales and transfers through this channel are processed by Timeshare Closing Services for title and escrow. Their fees are generally higher than some other title companies (varying by state and purchase price). In addition, TBS typically adds an “administrative fee” on top of the standard closing and resort transfer fees.

Timeshare Closing Services can also be inconsistent. Some transfers are completed fairly quickly, but in many cases the process drags on longer than it should.

On the plus side, SMTN has by far the largest inventory of any resale marketplace and some of the strongest marketing/SEO presence. While some people cite 2,800 listings, they currently have over 70,000 active listings. That said, this volume brings challenges: outdated listings, inaccurate ownership details, and inflated asking prices. There are good deals to be found, but it usually requires sifting through a lot of noise and working closely with the brokerage to verify details and negotiate realistic terms.

As others have mentioned, if you know what you’re doing, purchasing through SMTN/TBS can be a viable option. Personally, I feel there are plenty of brokers in the industry who advertise at fair market prices, provide accurate details, and charge more competitive closing/title fees—while avoiding the upfront-fee model altogether. Just my two cents based on their structure and processes.

 

[TUGBrian]

SMTN has by far the largest inventory of any resale marketplace

because their listings never expire.

just as a real world example, the TUG marketplace alone would have over 100,000 "active listings" if there were no expiration date.

great for marketing purposes, terrible for actually selling timeshares.

 

[ZacharyBattles]

because their listings never expire.

just as a real world example, the TUG marketplace alone would have over 100,000 "active listings" if there were no expiration date.

great for marketing purposes, terrible for actually selling timeshares.

To be as impartial as possible, SMTN would likely have well over a million listings if none ever expired. In reality, many listings are removed over time due to lack of communication from owners, being sold and other factors—but that’s beside the point. What’s undeniable is that SMTN has some of the strongest SEO and marketing in the industry, which is why they can charge such high upfront fees and still attract clients.

Their platform does generate a significant volume of sales. That said, if it weren’t so heavily crowded with overpriced, inaccurate, and still outdated listings, it could be far more effective. Unfortunately, for buyers and sellers, that simply isn’t the model they choose to pursue.

 

[TUGBrian]

I dont believe they have had more than 1 million separate resale listings, though anything is possible. I know when folks had looked in the past it was very obvious that many of them were years and years old. however that isnt the reason the site is not effective for owners at selling a timeshare, its the fact that their entire business model revolves around IMPLYING if not outright claiming a ridiculous "possible" resale price for a timeshare if an owner pays their fee to have it listed.

Their business model focuses on collecting fees from owners by misleading them about the reality of their situation and the legitimate resale value of their timeshare, not actually selling timeshares. If they or any other upfront resale company told the truth about timeshare resale value, id have no problem at all with them charging an upfront fee! They dont do it because they know full well someone isnt going to pay $700 bucks after they are told their timeshare would be LUCKY to find a buyer even if they priced it for free.

 

[dioxide45]

To be as impartial as possible, SMTN would likely have well over a million listings if none ever expired. In reality, many listings are removed over time due to lack of communication from owners, being sold and other factors—but that’s beside the point. What’s undeniable is that SMTN has some of the strongest SEO and marketing in the industry, which is why they can charge such high upfront fees and still attract clients.

Their platform does generate a significant volume of sales. That said, if it weren’t so heavily crowded with overpriced, inaccurate, and still outdated listings, it could be far more effective. Unfortunately, for buyers and sellers, that simply isn’t the model they choose to pursue.

The problem is, isn't much of their SEO targeted toward finding new owners to pay the fee to list? Not so much at finding buyers looking to buy what is listed?

 

[ZacharyBattles]

The problem is, isn't much of their SEO targeted toward finding new owners to pay the fee to list? Not so much at finding buyers looking to buy what is listed?

Absolutely. Their primary goal is simply to get owners listed on their platform, then allow their subsidiaries to handle further monetization from there.

 

[GT75]

then allow their subsidiaries to handle further monetization from there.

I have contacted SMTN on a few listings in the past, which I was interested in, but still >2x overpriced. When I did, I guess it was some subsidiaries that responded. I was not impressed with the subsidiaries, nor will I ever contract any listing that they have in the future. Thank you for explaining that the subsidiaries handle the sales because I was confused when I got a call from someone besides SMTN. At the time, I had my guard up because a different company was contacting me about my inquiry.

 

[ZacharyBattles]

I dont believe they have had more than 1 million separate resale listings, though anything is possible. I know when folks had looked in the past it was very obvious that many of them were years and years old. however that isnt the reason the site is not effective for owners at selling a timeshare, its the fact that their entire business model revolves around IMPLYING if not outright claiming a ridiculous "possible" resale price for a timeshare if an owner pays their fee to have it listed.

Their business model focuses on collecting fees from owners by misleading them about the reality of their situation and the legitimate resale value of their timeshare, not actually selling timeshares. If they or any other upfront resale company told the truth about timeshare resale value, id have no problem at all with them charging an upfront fee! They dont do it because they know full well someone isnt going to pay $700 bucks after they are told their timeshare would be LUCKY to find a buyer even if they priced it for free.

Agreed! I wish it were only $700 these companies were getting away with

 

[TUGBrian]

the strategy of "if they thought it was a good deal to pay full price for their timeshare, they probably can be convinced to pay a fortune to get rid of it too!" is effective!