Expert: Tony Welle - 10/9/2001

Question
Tony,
I have a timeshare at westgate resorts that I had listed with Century 21 for sometime in FL and have never had any response to it.
How can I sell this.  I have never really used it myself but have let a couple of people rent it.  I have owned it since 1995.  It is paid off and really do want to get rid of it.  Help!@!!

Answer
Hi Cathy,
First, please don't kill the messenger if you don't like the message....
There is only one reason why it hasn't sold.  And I probably talk to 100 people a day with the same concern...  The simple fact is, people try to sell a timeshare for what THEY think it is worth... NOT what PEOPLE ARE ACTUALLY PAYING for the property.  
You probably are asking too much for it....
If you REALLY want to sell it- following are what current sellers are getting for theier prop... (there are 3 westgates- so here is sellers are getting.
Westgate villas- 2 bed- between $2,000 and $3,000-
Westgate Lakes- 3 bed lockouts- annual- between $4,000 and $5,000, 2 beds- bout the same as the villas...... of course they have bi-annual, one beds ect.... but you get the idea.  
Once again- if you REALLY want to sell it- call whoever you listed it with- and tell them you want to sell it- and want the real price that people are getting.
Bear in mind- they are nice units... and I know the resort is selling them for $14,000-  the simple fact is,,, there are 100 sellers for every buyer on the resale market.
I hope this helps