Premier Timeshare Resale knows how to prevent ‘buyer’s remorse’
John Birkinbine and his wife loved timeshares. At one time they owned 12 of them, including four in Park City. Every year they used them to travel from Tucson, Arizona to ski Utah.
Now getting on in years, the Birkinbines don’t ski anymore. They tried selling two of their timeshares the conventional way, paying someone to post them on a website. After hundreds of dollars and months of waiting they didn’t get a single call.
Then they tried Premier Timeshare Resale, a firm of professional, licensed real estate agents on Park City’s Main Street that specializes in selling timeshares.
"We couldn’t be more satisfied. We weren’t familiar with the process and they educated us in it. We were able to obtain a fair price and it really didn’t take a long time to do it. We couldn’t have asked for anything more," he said.
Kelly Marshall, co-owner of the business, worked in timeshare sales in Mexico and learned the ins and outs of appraising timeshares and exchanging ownership of them.
Unlike a traditional piece of property in which a buyer sells to an owner, timeshares are a single piece of property owned by numerous parties who "share" it by assigning each owner a portion of the year to use it. The transfer of that fraction of ownership is a complicated procedure requiring far more paperwork than traditional real estate, Marshall explained.
Because of tough economic times, more people are looking to sell a timeshare than to purchase one. Ad companies take advantage of this fact by offering to post "do-it-yourself" listings for payment up-front. As a result, the ads are often ineffective and the properties are listed too high to sell quickly.
As licensed Realtors with Re/Max, Marshall and her partner Alanna Hatz are able to better attract interested buyers, and list properties at realistic prices that move quickly.
"There are still a lot of buyers and savvy buyers know that now is the time to buy," Mashall said.
People looking to buy now are not usually feeling the economic crunch, and can afford to purchase several.
Because timeshares only cost about $1,500 to $50,000 for the most high-end, financing isn’t required. As a result, Marshall said she’s been able to sell some properties the same day they are listed.
Second-home shoppers are also great timeshare buyers, she said, because they realize that instead of buying a condo in Deer Valley for a couple million, they can buy a timeshare for six-weeks for one-tenth that much.
Most often the only difference between a new timeshare property offered by a resort company and a resale, she said, is the price.
Many people interested in a timeshare buy new, and then have "buyer’s remorse" as they’re stuck paying for it whether they have the time to vacation or not. Buying on resale allows shoppers to consider all the options and get a better bargain, she said.
Hatz and Marshall decided to open Premier Timeshare Resale after both had seen comparable ski towns supporting a dozen such businesses. While several local companies sell new timeshares and other vacation club packages, there were no professional resale experts in town.
Hartz said she believes Park City is an ideal place to own a timeshare since it’s so easy to trade them. Owners frequently swap rights to a timeshare in order to visit Florida, Mexico, Hawaii and Disneyland. The popularity and notoriety of Park City makes it highly desirable to swappers.
"I’ve lived in a lot of mountain resorts," Hartz said. "We’re finding more and more people coming to Park City instead of Colorado because it’s so accessible. It’s also the greatest snow on Earth and people who ski realize this. We have more sunny days, it’s beautiful in summer and there is stuff for families to do year round."
Marshall urged timeshare sellers to expect a timeframe of about three to six months, longer if owners wish to list high and come down slowly.
Brad Brainard of Tuscon, Arizona, also said he was impressed with how professional the staff was and how easy it was to sell his timeshare. He acknowledged how complicated it can be, and nice it was to have real Realtors handling it.
Premier Timeshare Resale
804 Main Street, Suite 100 http://www.PremierTimeshareResale.com 435-649-6461
Support Local Journalism
Support Local Journalism
Readers around Park City and Summit County make the Park Record's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Each donation will be used exclusively for the development and creation of increased news coverage.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User
Park City readies gathering about contaminated soils amid continued worries about health, environment
Park City next week has scheduled an informational event centered on the municipal government’s controversial efforts to develop a facility to store soils contaminated during Park City’s silver-mining era.