GMAC Timeshare Resales

[mick132]

Has any fellow tuggers had good or not so good experiences dealing with
GMAC for renting or selling their timeshare.
They are requesting a one time upfront fee of $850.00 to take all the pain
out of the renting or selling process.

Appreciate all responses.

 

[Stefa]

As with any upfront fee company, once they have your money they have no incentive to actually sell or rent your timeshare.

 

[Robert D]

I'd suggest doing a search on Ebay for your timeshare and look at completed listings showing what they actually sold for. That will give you an idea of what it's worth which is likely a ton less than what this broker is saying they will list it for. What will likely happen is you will pay them $850 and a year from now you will still own this timeshare and your wallet will be $850 lighter.

 

[hero2me]

I send them money a few years ago, and that was the last time I ever heard from them. Run, don't walk away from these guys.

 

[theo]

Well said...

As with any upfront fee company, once they have your money they have no incentive to actually sell or rent your timeshare.

The above accurately and succinctly summarizes all that need be said...

 

[richardm]

I'd also recommend caution. This is not a brokerage, but just an advertising company with a tricky name- GMAC Timeshare Division. Even on the GMAC Real Estate corporate site, their employees shows as licensed telemarketers, not licensed real estate agents. http://www.gmacrealestate.com/find/office/home/Timeshare-Division-Orlando/ (click on an employees name and it will show their license designation.. Most I've seen show as LTA - Licensed Travel Agent and/or LCTS - Licensed Commercial Telephone Salesperson.... These are not licensed real estate associates......).

Many people have questioned why GMAC would sell a franchise and allow it to operate in a manner other than as a brokerage- but I haven't seen that answered.

With any timeshare marketing company, a dead giveaway that something may be wrong is the simple fact that they seem to charge whatever they can collect for the service. I've seen numerous posts on this forum all stating various amounts for the same service from the company.... An advertising company should have consistent pricing for their service. The consumer simply makes a decision if the exposure is worth the cost.

The Florida AG in the past has taken action against companies with this business model, that don't seem to have any consistency with pricing or service- but I've seen no reports about action against this group. Still, I'd recommend caution and research before agreeing to the fees.

Take time to research or to contact a resale broker familiar with your ownership who has a track record of past transactions- and try to determine the true value of what you own before making any decisions about selling. Regardless of where you advertise, you'll need to price properly to have any chance at success..

Good luck!

 

[Redrosesix]

Not sure, but I think what I found is related to this post -- timeshares listed at HUGE buy-it-now (not an auction) prices on eBay eg. a 2 bdrm at Vistana for over $20,000. Crazy, since I found them when doing a search for Vistana, and they were there among the other listing which opened at $1, buy-it-now prices under $1000. I didn't know it was GMAC until I chose to go to the seller's store.

An example:
http://cgi.ebay.com/Sheraton-Vistan...ihZ015QQcategoryZ1310QQtcZphotoQQcmdZViewItem

Would listing timeshares on eBay at these prices, even though everybody knows they will never sell, fulfill their end of the deal when they ask for the up-front listing costs?

 

[Bill4728]

I don't want to be flamed for this response but:

I believe that if you list your TS with them and list it at the lowest prices of the one at the resort you own, you may be able to sell your TS. BUT all the other people, who list their TS at unreasonable asking price will never sell their TS.

GMAC/Timeshareonly may be the biggest TS reseller there is. But This means they have the most listing not that they sell them most. They have the most listing because they advertise the most. But their advertising seems to me to be trying to get more listing, not trying to sell the TSs they have listed ! ! ? ?

I would never recommend them, but if it is too late and you have already paid them, make the best of it and have them price your TS low and it may sell.

 

[richardm]

That is not a Timeshares Only affiliated brokerage.. Bill is confusing the GMAC franchises.. This happens often with franchises (and is most likely the reason the Levene's purchased two other GMAC franchises and located them both in Orlando- consumer confusion may be good for their business model.)...

International Properties GMAC Real Estate is the franchise affiliated with Timeshares Only, and is the only franchise or brokerage recommended by Disney for DVC resales.

GMAC Timeshare Division and GMAC Timeshare Resales USA are two other GMAC franchises out of Orlando. The first is simply a marketing company which employs telemarketers- and the second operates as an actual brokerage with licensed real estate agents.

Timeshare related franchises are increasing, and consumers will have to realize that just like residential real estate- there will be numerous independently run brokerages. All offering different levels of service. There are also now numerous Re/Max franchises as well that sell timeshare. I think there are two in Orlando, one in Branson, one in Park City, and one in Las Vegas- but there could be more...

 

[jjnemmers]

Still waiting

I sent them around $750 about 6 years ago....not one bid on my SilverLake 2 bedroom. They wanted to sell it for 15000, it's now down below 5000 and have never had any interest. I'm not in the mood to sell it for nothing, so I'll continue to use it (I have 2 TSs, both paid-off) and write off the $750 as a loss. If I do someday sell it then great...but I don't want to give it away. Like I said, I still enjoy using it.