One of the most popular ways to access a resort nowadays is through buying a timeshare at one. But there are many factors to consider. If you decide to get brave and go to a presentation, be sure to go with an open mind. But also be careful.
Often, the first exposure we receive to time share ownership comes from filling out a coupon to win a vehicle or receive a cheap or free vacation in the sun or at a ski resort. For some this happens at fairs, in restaurants or at car dealerships. For others first contact is through a (not-so-well-timed) phone call interrupting dinner and offering a free or inexpensive short hotel stay in exchange for a couple of hours of your time. Occasionally, some well-meaning or profit-motivated relative, friend or associate will give out your co-ordinates. On vacation in Mexico, it is not unusual to be stopped in the street of a coastal vacation city and offered a free day of island hopping on board a boat, with stops for horseback riding, meals and a "happy hour" in exchange for foregoing some time in the sun for a presentation.
As long as you understand that accepting these offers can be the prelude to several hours (they usually tell you two hours - take that with a grain of salt) of presentations - slide and/or film shows, discussions, property-viewing and - in some rare cases - browbeating, there is a benefit versus detriment ratio to look at. You need to weigh the benefits of initiating the process required to receive the offer/prize against the cost in travel to and from the resort presentation site, time in the presentation and negotiation.
It may seem surprising that so many people with absolutely no intention of purchasing a time share property end up walking away the owners of an annual week of tropical heaven or cool skiing. But then, perhaps it shouldn't be that surprising. The salespeople are usually chosen to be compatible with or complementary to the average time share client - they aspire to create a climate conducive to making a sale.
Even if you intend to turn down the offer (you only want to try for the prize!) the time share salespeople are trained in the best ways to turn your NO into a YES. In most instances, the salesperson will bring in a more senior person (usually the sales manager) either to use their superior persuasion skills, use psychology skills on you, try a different personality type, exercise fluency in making deals, fast-talking or merely utilize their ability to sweeten the offer. Sound like buying a car? Well, resorts and cars have that in common.
Usually there's a meal provided at the presentation - more dangerous to the negative attendee perhaps being the champagne breakfast. Those little bubbles tickling the nose will often loosen the tighter pocketbooks and wallets. And what better than a good meal to move the prospective resort property owner into time share convert. It's a poor salesperson that does not make a non-buyer feel badly for failing them! Few resort salespeople starve - the sales manager can often provide the addition purchase incentive - and there's usually a free meal available until the resort seller gets consistent good results.
Where does the resort get the money to pay for the prize SUV, vacation dollars, delicious meal or tickets to Sea World? Well, obviously the resort company needs a marketing budget. This is derived from the eventual profits to be made from each sale. Actually, it's the resort purchasers who pay for both successful and unsuccessful sales efforts. So, if you actually intend to purchase you should hold out for the best deal possible.
This means don't accept the first, or the second, or even the third offer you hear from the sales team. Invoke every opportunity to have them make you a better offer. Don't worry, as long as you are in some kind of negotiation - even if it looks like you are very negative on the value of the deal - there is someone on site who can improve the offer in some way. This can go on until the sales manager is reluctantly closing your car door for you after spending 4 or 5 hours of hard bargaining.
THIS IS THE POINT AT WHICH YOU SHOULD CONSIDER ACCEPTING THE LAST DEAL BUT WITH ONE MORE UPGRADE.
You have outstayed most all of the presentation attendees, the salespeople want to go home, and you have heard pretty much all the offers they have to make. The sales team is ready to go as far as they have ever gone before - maybe farther. Make your last pitch to hear their best and final offer - that last one-week stay in Atlantis in the Bahamas or that vacation certificate that can be used every year, which the sales manager was going to use to take his significant other for a sun-and-sea-filled week as a surprise.
Remember the power of negotiation. Resort owners are not used to dealing with hard bargainers. So take advantage of it. Get every penny out of it you can, then let it go and enjoy your new resort.
Often, the first exposure we receive to time share ownership comes from filling out a coupon to win a vehicle or receive a cheap or free vacation in the sun or at a ski resort. For some this happens at fairs, in restaurants or at car dealerships. For others first contact is through a (not-so-well-timed) phone call interrupting dinner and offering a free or inexpensive short hotel stay in exchange for a couple of hours of your time. Occasionally, some well-meaning or profit-motivated relative, friend or associate will give out your co-ordinates. On vacation in Mexico, it is not unusual to be stopped in the street of a coastal vacation city and offered a free day of island hopping on board a boat, with stops for horseback riding, meals and a "happy hour" in exchange for foregoing some time in the sun for a presentation.
As long as you understand that accepting these offers can be the prelude to several hours (they usually tell you two hours - take that with a grain of salt) of presentations - slide and/or film shows, discussions, property-viewing and - in some rare cases - browbeating, there is a benefit versus detriment ratio to look at. You need to weigh the benefits of initiating the process required to receive the offer/prize against the cost in travel to and from the resort presentation site, time in the presentation and negotiation.
It may seem surprising that so many people with absolutely no intention of purchasing a time share property end up walking away the owners of an annual week of tropical heaven or cool skiing. But then, perhaps it shouldn't be that surprising. The salespeople are usually chosen to be compatible with or complementary to the average time share client - they aspire to create a climate conducive to making a sale.
Even if you intend to turn down the offer (you only want to try for the prize!) the time share salespeople are trained in the best ways to turn your NO into a YES. In most instances, the salesperson will bring in a more senior person (usually the sales manager) either to use their superior persuasion skills, use psychology skills on you, try a different personality type, exercise fluency in making deals, fast-talking or merely utilize their ability to sweeten the offer. Sound like buying a car? Well, resorts and cars have that in common.
Usually there's a meal provided at the presentation - more dangerous to the negative attendee perhaps being the champagne breakfast. Those little bubbles tickling the nose will often loosen the tighter pocketbooks and wallets. And what better than a good meal to move the prospective resort property owner into time share convert. It's a poor salesperson that does not make a non-buyer feel badly for failing them! Few resort salespeople starve - the sales manager can often provide the addition purchase incentive - and there's usually a free meal available until the resort seller gets consistent good results.
Where does the resort get the money to pay for the prize SUV, vacation dollars, delicious meal or tickets to Sea World? Well, obviously the resort company needs a marketing budget. This is derived from the eventual profits to be made from each sale. Actually, it's the resort purchasers who pay for both successful and unsuccessful sales efforts. So, if you actually intend to purchase you should hold out for the best deal possible.
This means don't accept the first, or the second, or even the third offer you hear from the sales team. Invoke every opportunity to have them make you a better offer. Don't worry, as long as you are in some kind of negotiation - even if it looks like you are very negative on the value of the deal - there is someone on site who can improve the offer in some way. This can go on until the sales manager is reluctantly closing your car door for you after spending 4 or 5 hours of hard bargaining.
THIS IS THE POINT AT WHICH YOU SHOULD CONSIDER ACCEPTING THE LAST DEAL BUT WITH ONE MORE UPGRADE.
You have outstayed most all of the presentation attendees, the salespeople want to go home, and you have heard pretty much all the offers they have to make. The sales team is ready to go as far as they have ever gone before - maybe farther. Make your last pitch to hear their best and final offer - that last one-week stay in Atlantis in the Bahamas or that vacation certificate that can be used every year, which the sales manager was going to use to take his significant other for a sun-and-sea-filled week as a surprise.
Remember the power of negotiation. Resort owners are not used to dealing with hard bargainers. So take advantage of it. Get every penny out of it you can, then let it go and enjoy your new resort.
Purchasing a Timeshare
Purchasing a time share is a unique type of investment, and requires two levels of research. First, you should determine if a time share is the correct type of investment for you. Are you better off putting investment money somewhere else and paying for vacations year-to year, or is a time share investment make more sense? Second, you need to determine which specific time share will give you the best payoff with regard to finance and fun.
Here is a checklist that may help:
1. Compare maintenance fees and what they pay for. Compare how much of this money is spent on basic and necessary upkeep (fixing appliances, doing yardwork, etc.) and how much goes into capital improvements such as putting in a new pool or fitness club when it is needed. The latter is more likely to increase the value of your investment long-term
2. What other fees could be involved? How many years have they had "Special Assessments" for example? Why were these one time fees charged, and what is the likelihood of that type of event recurring? It might have been due to a storm of the like they haven't seen in a hundred years, or it could be that your time share is in the path of hurricanes that hit every three.
3. How much would you have spent on vacations otherwise? time shares are not a good investment for a speculator who is not going to use them. They do not increase in value as fast as most other investment vehicles. However, when the cost you would have spent on vacations anyway is factored in to the return, they may be an excellent investment.
4. Why would I ever buy a time share "new" as opposed to timeshare resale? A "used" time share, sold to you by a previous owner or a resale company will probably cost significantly less than a new one (usually purchased from a developer). However, in new and exciting places, there may not be "used" units available, and developers have started to add extra value perks to their sales to compete.
5. Where is the best place to own a time share? This answer is tricky. If you are leaning toward buying it more for your enjoyment than for resale value, then choose one with resorts you personally enjoy and maybe are not too difficult to get to. On the other hand, if resale value is also important, you need to balance all of that with choosing one that is in an area of high demand.
6. Fixed week .vs. floating week, which is better? This depends on you and your family's schedule. If you have a very clear schedule, such as having kids in school who get the same weeks off each year, than a time share with fixed week s is for you. However, if you tend to have unpredictable work schedules or take vacations at different times each year, then a floating week is for you.
Good luck with this exciting choice!
Here is a checklist that may help:
1. Compare maintenance fees and what they pay for. Compare how much of this money is spent on basic and necessary upkeep (fixing appliances, doing yardwork, etc.) and how much goes into capital improvements such as putting in a new pool or fitness club when it is needed. The latter is more likely to increase the value of your investment long-term
2. What other fees could be involved? How many years have they had "Special Assessments" for example? Why were these one time fees charged, and what is the likelihood of that type of event recurring? It might have been due to a storm of the like they haven't seen in a hundred years, or it could be that your time share is in the path of hurricanes that hit every three.
3. How much would you have spent on vacations otherwise? time shares are not a good investment for a speculator who is not going to use them. They do not increase in value as fast as most other investment vehicles. However, when the cost you would have spent on vacations anyway is factored in to the return, they may be an excellent investment.
4. Why would I ever buy a time share "new" as opposed to timeshare resale? A "used" time share, sold to you by a previous owner or a resale company will probably cost significantly less than a new one (usually purchased from a developer). However, in new and exciting places, there may not be "used" units available, and developers have started to add extra value perks to their sales to compete.
5. Where is the best place to own a time share? This answer is tricky. If you are leaning toward buying it more for your enjoyment than for resale value, then choose one with resorts you personally enjoy and maybe are not too difficult to get to. On the other hand, if resale value is also important, you need to balance all of that with choosing one that is in an area of high demand.
6. Fixed week .vs. floating week, which is better? This depends on you and your family's schedule. If you have a very clear schedule, such as having kids in school who get the same weeks off each year, than a time share with fixed week s is for you. However, if you tend to have unpredictable work schedules or take vacations at different times each year, then a floating week is for you.
Good luck with this exciting choice!
Page Contents
More About TImeshares
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Tips For Selling Your Timeshare
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Many people would agree that reselling a timeshare is not as easy as buying one. You get loads of invitations in mails; get courtesy calls and emails to attend a timeshare presentation. They offer you bounties and favors in return for attending a pre...
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Timeshare Resales
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The notion of a time share was presented in Europe during the 1960's. Somewhere in the French Alps, a ski resort developer thought of giving guests the ownership of the resort instead of just renting it to them. The ownership would cover a week where...
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Timeshare Sales
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It was found out recently that 87% of salary eligible households are very much aware of time shares. Salary eligible households have incomes of 30 thousand dollars or more. This is a positive note for time share sales. Incomes that are within this ra...
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Alternatives To Selling Your Timeshare
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Many people simply buy timeshares thinking that they would be able to take out some time from their busy schedule and go for vacation. But many end up not using their timeshares at all. So they start considering selling their timeshares. But if you t...
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Disney Timeshare Rentals
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Disneyland and Disney World are magical kingdoms often visited by both children and children at heart. Both adults and children wish to enjoy a dream vacation at the happiest place on earth and be part in experiencing the magic that Walt Disney has b...
