Addional TUG service offering: personal hand holding for selling your Timeshare

[TUGBrian]

While this likely wont apply to most here on the forum, on a regular basis we are contacted by folks (elderly and such) who for various reasons simply dont want to be bothered with reading the how to sell article, doing the research about their resale value, posting ads, etc etc.

These reasons vary from limited/no computer skills to just plain lack of time or enthusiasm to manually go thru this process. While we do our best to encourage folks to at the very least read the how to sell article to get the information planted in their brains about resale depreciation (and to warn them against scammers)...I often times wish TUG had a dedicated service for those who want someone to either walk them thru it, or set it all up for them.

The conundrum for me is that in order to do this for some customers, it would of course cost a bit more than the $15 membership fee, and I really have wanted to avoid venturing into the upfront fee model, but if keeping the price low (say under 50 dollars), I wonder what sort of interest this would bring to timeshare owners that find themselves in the above category.

I always want feedback from existing owners and members, so talk to me...share your thoughts (dont hold back)...I am genuinely curious if owners feel there is value in such a service.

My initial thoughts would be like

1. 1 year TUG membership included

2. We will research the resale market and give you examples of what your timeshare is currently selling for

3. we will post your ad for you both resale and rental as applicable (communication of course will still go thru your email address just like all other ads)
3a. have the ability to mark your ad as a featured ad in the marketplace, thus helping it stand out a bit from all the rest.
3b. if your timeshare is one you are just looking to give away, we would also post this for you in the bargain deals section of the forum.


4. we will give you an estimate on what your closing costs would be once you found a buyer (can actually provide multiple estimates given that TUG has a good relationship with many timeshare closing companies)



would there be any additional basic items that someone looking to have someone "do all the work for them" expect to be included in such a package?

is this something you feel an owner in the above situation would feel is worth the additional fee? is it priced too low? priced too high?

As always, I look forward to reading comments (both positive and negative)

 

[DeniseM]

I think this will be a big job that requires a lot of time, and will require someone with excellent timeshare knowledge, because the type of people who need this kind of help have no idea what they own and won't be able to provide accurate info for Ads. When you are selling or renting, having accurate Ads is critical. I don't think $50 will cover it if you are paying someone to do it.

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[TUGBrian]

eh, i hadnt planned on offering a "Verification" service, just general assistance in pricing and posting their ads.

 

[DeniseM]

But how do you assist someone who doesn't have the facts needed to write an accurate Ad - that will be the issue.

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[DeniseM]

Based on my experience with this very situation, I believe your clients will need a lot more hand holding than you expect.

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[happymum]

I think it is a great idea and an excellent service for TUG to offer, but I think Denise is correct, it will be far more labor-intensive than you think.

 

[Htoo0]

I have to agree. I certainly am not an expert but what I think I've learned here suggests those in need of such a service are going to have a difficult time accepting what their timeshare is really worth and may have to overcome some anger issues (which will likely be directed at the bearer of bad news). I would not want the job of delivering that fact. Then for one person to have the knowledge base of all the different 'flavors' of timeshares (or a pool of people, one or more of which would have the specific knowledge of that system) and the research for getting the pricing right might take some doing. (Then a seller hears of the exact same thing going for a much higher price because another seller found a buyer who didn't know the real 'value' of their purchase and they get upset because you didn't get them that price.)

I think it's a worthy idea but you'll need to rely on some dedicated volunteers or be able to charge enough to pay some experts to do the job.

Another possibility might be to help someone with their timeshare purchase(s) for a small fee. It may be much easier to show them comparables to keep them from overpaying and explain the particular system they are thinking about buying into and the pros and cons of that system/resort. Just a wild thought.

 

[Jason245]

I think it might be better to find a real estate agent who is reputable and refer the person there. There is a reason they get comission.

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[Sugarcubesea]

I just helped my Mom's elderly neighbor sell her timeshare and it was a 7 month process as she was convinced this LasVegas timeshare was worth the $25K her hubby paid for it…

It was a lot of work and took a lot of my time and just to get this sold and her accepting the offer was a real pain…

This took a lot longer then I thought it would and way too much of my time…

I think you would need to charge much more then $50

 

[artringwald]

It certainly would be a valuable service, but for the people that need it, they need much more than you're planning on offering. I agree with the others, that $50 would not cover the amount of time it would take.

 

[Tank]

I think it would be a regrettable move , but your heart is in the right place.
It would be gratifying you helped so many people, but It will end up biting you in the B-hind often.
You are dealing with huge groups of people not happy to start with, or family who thinks you swindled them.
They found TUG , this is a start in the right direction. You guide um in the right direction. That is all you can do.

 

[Iggyearl]

Denise is right

Your idea if noble. Very noble. But your chances of failure far outweigh your chances of success. The people who need your help will be able to blame you if they are not happy with the outcome (advice). You currently run a "self-help" website with mostly "volunteer" contributors. And it works great. If you step into the "pay for service" arena, you will be open to criticism by the industry. I am sure there are salesmen and brokers who would be happy to note that you are trying to "cash in" on other peoples' misery. I would stick to the great job that you are doing.

 

[Marathoner]

Why don't you just offer a service which only tries to give away someone's timeshare. You can then manage people's expectations since they will not be expecting any money for their timeshare.

This is a much simpler service so can be offered more economically than the original idea.

 

[tschwa2]

Just for comparison this is Redweek's Full Service listing info:

$125
Commission: $399 or 3% of resale price (whichever is greater)
Duration: 12 Months
Required: Active Membership
BENEFITS:

Help identifying current market prices for your unit
NEW flag on your posting for the first 30 days
A review of your ownership so your posting is accurate
Fielding inquiries from interested buyers
Negotiating a final sale price
Handling the entire closing: coordination among the resort, closing agent, buyer, and you
A licensed broker handles all tasks where licensing is required

So they charge $125 upfront plus you need to have an active Redweek membership ($14.99). They charge a commission when it sells. The cost does not include closing.

 

[pedro47]

Thread very carefully on this idea. Please read between the lines for liability especially from for the far left (developers & t/s scammers companies). These two (2) groups would love to see you and this web site to fail. This is my opinion only.

 

[SMHarman]

Say you are paying $10 an hour to someone for this then 12 hours. The end to end cost is fair.
But people are getting 10/he experts.

You could unbundle (like the airlines) into a valuation service (what can I expect to get for this TS) and a listing service (ad copy) and a full service listing service. Responses to buyers etc, though does that make you a RE broker.

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[vacationhopeful]

<snip>
You could unbundle (like the airlines) into a valuation service (what can I expect to get for this TS) and a listing service (ad copy) and a full service listing service. Responses to buyers etc, though does that make you a RE broker.

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Be very careful as that would MOST likely make you a real estate sales person which MUST be licensed by the state where the property is.

And appraisers in many states ALSO must be licensed.

Researching the most recent ads and collecting SOLD info is not licensed ... it is the "the value is XYZ" comment which amount to an appraisal.

TUG might be a place to have a thread or provide a DISCOUNT to the brokers who the HOAs have contracts with to market & sell the TS the HOA owns or whose owners individually have contracts of their private owners.

Or cross list with the other TS websites ... say a $5 listing for 30 days.

 

[VegasBella]

I think this will be a big job that requires a lot of time, and will require someone with excellent timeshare knowledge, because the type of people who need this kind of help have no idea what they own and won't be able to provide accurate info for Ads. When you are selling or renting, having accurate Ads is critical. I don't think $50 will cover it if you are paying someone to do it.

I agree

I think it would be a regrettable move , but your heart is in the right place.
It would be gratifying you helped so many people, but It will end up biting you in the B-hind often.
You are dealing with huge groups of people not happy to start with, or family who thinks you swindled them.
They found TUG , this is a start in the right direction. You guide um in the right direction. That is all you can do.

I agree.

Here's what I think might be helpful instead: create an attractive booklet in large print that explains the main points in the "selling your timeshare" article. Expand on the article to include more resources about estimating your timeshare's value and also include info about giving your timeshare away. Then sell or give that booklet away. It has to be printed on paper and mailed.

 

[presley]

I wouldn't offer the service at all. If they won't read the how to sell article, they won't read anything else you put together. Let them pay $1,000 to a real estate agent if they need that much help. It's worth it.

 

[TUGBrian]

all good thoughts here, note that this service would really apply to those in the category where their timeshare had little to no value.

I certainly dont expect folks who have timeshares of significant value to choose a service like this, vs actually going with a licensed broker who could get them a decent price.

The target for this is specifically (in my mind)...folks who "just want out" but have limited or no computer skills to get things going. Heck we get calls every week from folks who dont even have a computer or internet (it is still 2015 right?)...I have always wanted to give them an answer other than "Well, unfortunately everything TUG has to offer is online thru the website, can you get access to a computer thru a relative or the local public library"?

 

[DeniseM]

Here is your first customer:

I have this timeshare in Florida that I've never used and I'd like to get rid of it.

I think it's a Sheraton, and I think it's a 2 bdm. But I never used it, or any timeshare, so I'm not sure.

I have the deed somewhere, but I don't understand what it says.

I paid $20,000 for it, so I'd like to sell it for at least $20,000.

I don't really know where to start.

I'm 103, hard of hearing, and I don't have a computer or a cell phone.

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OK Brian - here is your typical customer - what do you do next?

 

[csxjohn]

It certainly would be a valuable service, but for the people that need it, they need much more than you're planning on offering. I agree with the others, that $50 would not cover the amount of time it would take.

While thinking of a reply and reading the other posts this one was the theme in my mind.

They will have no idea how to proceed once someone writes to them.

Closing companies provide the ability to get a copy of the old deed for a fee so that's no real problem.

They could probably handle signing and getting notarized the new deed and mailing it off but that's even iffy.

I think you would be better off just referring them to RedWeek's full service listings.

I've bought and sold a good number in the last few years and it makes me crazy the way people just cut off communication with no rhyme or reason.

I thought I had my latest "for sale" unit sold twice now and it looks like it's going nowhere. If I paid you even the low amount of $50 I'd expect some results from you.

There may be a way to help those you have in mind but I'm not sure this is the way.

As others have mentioned, if they can't read what's here, they can't be helped here.

 

[csxjohn]

Here is your first customer:

I have this timeshare in Florida that I've never used and I'd like to get rid of it.

I think it's a Sheraton, and I think it's a 2 bdm. But I never used it, or any timeshare, so I'm not sure.

I have the deed somewhere, but I don't understand what it says.

I paid $20,000 for it, so I'd like to sell it for at least $20,000.

I don't really know where to start.

I'm 103, hard of hearing, and I don't have a computer or a cell phone.

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OK Brian - here is your typical customer - what do you do next?

Will you or your agent be contacting Brian?:hysterical:

 

[TUGBrian]

Here is your first customer:

I have this timeshare in Florida that I've never used and I'd like to get rid of it.

I think it's a Sheraton, and I think it's a 2 bdm. But I never used it, or any timeshare, so I'm not sure.

I have the deed somewhere, but I don't understand what it says.

I paid $20,000 for it, so I'd like to sell it for at least $20,000.

I don't really know where to start.

I'm 103, hard of hearing, and I don't have a computer or a cell phone.

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OK Brian - here is your typical customer - what do you do next?

noone says the service can help everyone! =)

I can assure you I wont be taking someones money and listing their ad at a ridiculous amount like you find other folks doing. im not going to jeopardize everything TUG has become over 50 dollars.

 

[TUGBrian]

As others have mentioned, if they can't read what's here, they can't be helped here.

and that is one of the huge problems...heck we find that folks wont even read the advice we give them many times when they are first BUYING...its very frustrating.