Though some people like owning a timeshare, oftentimes it proves to be a poor investment. Many have no intention of buying a timeshare until they come face to face with salespeople who change their minds through manipulative and clever timeshare sales tactics. If you’re ever in this situation, here’s how to identify these strategies so you can avoid falling for them.
Now or never
Timeshare salespeople tend to put a lot of pressure on potential customers—whether you’re at a timeshare presentation or at a resort. They make it seem like if you don’t buy a timeshare that very minute, you’ll never have another opportunity to do so.
They typically exude a sense of urgency to coerce potential buyers into making decisions. This is one of those classic, timeshare sales tactics where salespeople have a comeback or rebuttal for every anticipated objection. In fact, the rejection doesn’t faze them at all, but fuels the fire, motivating them even more to make the sale.
Another red flag to watch out for is if they don’t answer your questions. Because it’s more about making the sale at that moment, salespeople oftentimes fail to provide important information you should be aware of before you make your decision or dance around certain questions that require specifics.
If you end up in a situation like this, it’s best to walk away before you end up buying something you don’t want. If you feel like you’re being pushed into a purchase, get out of there as soon as possible because you could end up talking to this person for hours. Don’t waste any more of your time or the other person’s time.
A way out
Unfortunately, if you get sucked into buying a timeshare as a result of these persistent and aggressive, timeshare sales tactics, it can be extremely difficult to sell your share.
Suze Orman—financial expert, author, and television host—shared her advice for timeshare owners who are trying to get rid of their timeshares in The Costco Connection—a lifestyle magazine. The magazine features a section called “Financial Connection” where Ms. Orman answers readers’ questions about money and investments.
The first way to approach getting rid of a timeshare is selling it back to the resort. However, if the resort management company refuses to buy back the timeshare, Orman recommends hiring another company to do the work for you, but warns not to pay them until after the unit is sold. “One of the largest websites with a lot of advice from fellow time-share owners is tug2.net, run by the Timeshares Users Group. A key tip: Do not pay anyone or any service an upfront fee to rent or sell a unit,” Orman suggests. Legitimate companies are going to have you pay them once the timeshare is sold, not the other way around.
However, your best bet is to avoid falling for those timeshare sales tactics if you are certain you don’t want to buy one. That way, you won’t have to go through the trouble of trying to sell the property you got stuck with, wasting both time and money while doing so.