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Ex-Timeshare Sales rep- Will Answer any ?'s

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Saintsfanfl

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I believe you are also a timeshare salesperson or broker.

How many times do you LIE to people on a daily basis?

Timeshare resales and vacation rentals are an entirely different animal than developer timeshare sales. In the resale industry there is generally more monetary incentive to be 100% honest than there is to lie. A PCC has incentive to lie in acquiring a valuable timeshare, but Boca is not a PCC.

I realize you are just dazed and confused. It will get better.
 

Rent_Share

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Agreed, but when you purchase a timeshare you are purchasing with the intent to use. The whole point is the use of a certain year/unit/week. That part has a specified end date that can be extended upon a vote. Retaining a tiny interest in the property when there is no longer an operating timeshare amounts to nothing more than potentially recouping a portion of your purchase price.

With today's real estate prices, I cannot imagine seeing much of a return if an aging timeshare property is sold. It would approximately be [(1 / (U x 52)) x S] where U = Number of Units and S = Sold Price. Different unit types is likely a variable. The property is also subject to property taxes between the time of the timeshare dissolution and the sale. There would also be additional expenses eating away at the value.

Your forgetting that the defaulted units in the name of the HOA get distributed to the remaining owners, for those in on a $ 1.00 deed there is the potential for a profit.
 

Saintsfanfl

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Your forgetting that the defaulted units in the name of the HOA get distributed to the remaining owners, for those in on a $ 1.00 deed there is the potential for a profit.

That is true. I was missing that part.

Perhaps it is a good investment to buy loads of aged and soon to expire $1 timeshare units.
 

Pietin

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Deleted -- Picked up wrong quote.
 

VegasBella

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Retaining a tiny interest in the property when there is no longer an operating timeshare amounts to nothing more than potentially recouping a portion of your purchase price.
You're probably right for most timeshares, but I bet there are exceptions. For the resorts that are in great locations, the property itself is worth quite a bit. I'm sure savvy buyers could earn a small profit or at the very least recoup their entire purchase price. If the unit rents well, too, then it's definitely a good buy. Course, those timeshares are probably few and far between.
 

timeos2

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Wait, i thought deeded does not expire and RTU does expire. Or at least deeded only expires insofar as the entire timeshare property may cease operating as a timeshare as of a certain date, upon which the owners must vote to extend the timeshare agreement. But even then, the ownership rights to the property wouldnt expire.

Under what circumstances does a deeded timeshare expire then?

Deeded does not expire unless the whole project is terminated. That usually requires a vote from a super majority of owners.
 

Saintsfanfl

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Deeded does not expire unless the whole project is terminated. That usually requires a vote from a super majority of owners.

Most of my timeshares are the opposite. They expire by default unless a vote extends it. If there is no vote, then it expires.
 

T_R_Oglodyte

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Deeded does not expire unless the whole project is terminated. That usually requires a vote from a super majority of owners.

I believe there are some deeded projects which have a finite life; at a specified date in the future the timeshare program terminates, the resort is put up for sale, and the proceeds are distributed to owners. This is written into the covenants.

Smart thinking, IMHO.
 

Sandy VDH

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Thats one great way of getting out of a "owners update". But if you have to go through the 2+hour long sales pitch, property tour, and then have the manager come in and put more pressure on you.... Just tell your sales rep 15min into his pitch that your ready to buy now. You have been on other tours before and you now are ready to purchase. You think the rep is gonna stall getting the paperwork/contracts going? And, if you are smart enough to know that their is a cancellation period, as soon as you leave from your tour you cancel the contract.

I have actually suggested this, in jest, to some of the tour targets in Mexico, given their sales weasels are so high pressure. Agree in 5 mins, sign, get out, get gifts, rescind that day or the next day. Paperwork would take too long.

I just sat in on said high pressure. Was out in 90 mins, only because I insisted in seeing the Luxx room category. (They did not want to show me insisting it was not something I could ever get into as I did not own there, Yeah right.) Can back home and found a Luxx unit via SFX.

Had to laugh, they wanted to sell me a 4 week fractional, with all these bonus weeks that they would rent at 2600 a week, I would make 20K a year if I gave then 200K today.
 
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timeos2

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I believe there are some deeded projects which have a finite life; at a specified date in the future the timeshare program terminates, the resort is put up for sale, and the proceeds are distributed to owners. This is written into the covenants.

Smart thinking, IMHO.

Even those with an end date usually still require a vote. As those usually have to be a super majority it doesn't take many negative or missing votes to derail what seems to be a logical end to the project . There are many ways it can get drawn out & prevent obtaining top or even any value out.

One of the worst now are the points clubs that hold chunks in trust. If they want to stop a dismantling they can easily do it forcing the timeshare to go on (and often earn them management fees). It's never as east as it could or perhaps should be to terminate a resort.
 

Sandy VDH

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Did you run the OP off? Seems like it.

Just spilling the beans in a big long post would have seemed like a better approach, it certainly would appear more sincere than the tactics taken, posting a question, with no answer, as a teaser.

OP are you coming back......or are you gone.
 

Beefnot

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Here are a few questions along the way that I have not yet seen answered, including one the OP himself posed.

When the day is over, do the salesmen hang out and laugh about the people they conned? Do you sense they were comfortable with their job, slept well at night, and would also sell to their parents?

I have a question. From my perch watching the timeshares salesmen on the outside, and you being on the inside, what percentage aren't aware of what they're doing/harm they're causing? I imagine a few agents must be naive in the beginning, but what was your experience with salespeople selling something that was clearly not as valuable as they proposed it to be? Were there discussions on that topic? How did you and others deal with that?

Question--- You sell a timeshare for $18k and it goes thru---- how much do you make ? How soon do you get paid ?

I guess you know how you can get out of your timeshare if purchased through a developer. And even if its long after the cancellation period?
 

KarenP

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Deja Vu

Doesn't the OP sound like a poster some time back who also claimed to be an ex-timeshare salesman who would answer questions?
 

T_R_Oglodyte

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Even those with an end date usually still require a vote. As those usually have to be a super majority it doesn't take many negative or missing votes to derail what seems to be a logical end to the project . There are many ways it can get drawn out & prevent obtaining top or even any value out.

One of the worst now are the points clubs that hold chunks in trust. If they want to stop a dismantling they can easily do it forcing the timeshare to go on (and often earn them management fees). It's never as east as it could or perhaps should be to terminate a resort.

I don't have examples in front of me - just going from memory. But I thought that there were some that required a vote to continue as timeshare. - IOW terminate unless there is vote (majority? Two-thirds?) to continue.
 

Beefnot

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I don't have examples in front of me - just going from memory. But I thought that there were some that required a vote to continue as timeshare. - IOW terminate unless there is vote (majority? Two-thirds?) to continue.

Here is some deed wording on one timeshare I recently sold. Doesn't seem to give owners the choice to vote on it though.

...it being the intent of this instrument that each Unit Week shall be considered a separate estate for and during the period of time assigned to each in said Declaration, with each said estate being succeeded by the next in unending succession governed by said Declaration until 12:00 noon on the first Saturday in 2030, at which date said estate shall terminate; together with a remainder over in fee simple absolute, as tenant in common with the other owners of all the Unit Weeks in that percentage interest determined and established by the aforesaid Declaration for the following real estate located in the County of Osceola, State of Florida, as follows...

Further down in the deed:

To Have and to Hold, the same in fees simple forever.

And the Grantor(s) hereby covenants with said Grantee that the Grantor is lawfully seized of said land in fee simple; that the Grantor(s) has good right and lawful authority to sell and convey said land...
 

Rent_Share

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Isn't it in the C C & R which are incorporated into the deed by inclusion, without a HOA stucture the condo doesn't function
 
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bbminded

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There are many reps like this, yes. To be able to manipulate people to some of the degrees I have witnessed, I really cant understand how they can sleep well at night. I guess its a combination of ego, money driven, and just the fact that they are actually helping the people and see no wrong in it.
But there were also many very successful sales reps that were very professional, and didn't have to stoop to certain levels to make a sale. They just came to work, did their job, and went home.

When the day is over, do the salesmen hang out and laugh about the people they conned? Do you sense they were comfortable with their job, slept well at night, and would also sell to their parents?
 

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You are pretty much right on in regards to new reps. They all pretty much come out of training thinking this is the best product since slice bread and cant believe everyone doesn't own a timeshare. But one of the things that you are told by management etc. is that the less you(the rep) and the customer know the better.
As far as salespeople selling something that was clearly of less value then what they made it out to be..... For most they did what they had to do make a sale so they could get a paycheck. Alot of times this part of the sales presentation would come at the end when the manager would come over to try and close the deal.

People say that selling timeshares is the most difficult sales job, but I would imagine door-to-door vacuum sales is right up there in difficulty, if not even harder. And its funny that you mention you were supposed to sell to people that really couldn't afford it. My experience in the TS industry is that the majority of the people who did buy were the ones that really couldn't afford it either. They got caught up into the emotion of the whole experience. But good for you realizing that what you were expected to do didnt feel right and moving onto something different!





I have a question. From my perch watching the timeshares salesmen on the outside, and you being on the inside, what percentage aren't aware of what they're doing/harm they're causing? I imagine a few agents must be naive in the beginning, but what was your experience with salespeople selling something that was clearly not as valuable as they proposed it to be? Were there discussions on that topic? How did you and others deal with that?

In college, I sold vacuums, and after about week 3, it became painfully obvious that the people we were supposed to sell them to we're the ones who couldn't afford it. They were willing to pay too dollar as long as we could provide financing - at rates around 20%. I was about 19 at the time and quite naive. As soon as I realized what the deal was, I checked out. I could not have, in good conscience, continue to sell a product that was so blatantly wrong.
 

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Some people don't know the difference between a question and a statement. If your skeptical thats fine. I expect it. but I started this thread two days ago. It takes people years before they even fully understand all about the timeshare they own.


Seems like he has more questions than answers . . .




And the answer is. . . .?


And the rebuttal is....?

So far all we have heard is his "story" and that he pulled some research off the internet. So this is why people are skeptical.
 

bbminded

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A Fee simple deeded timeshare, you actually purchase a deeded interest in real estate that is recorded with the court or other authorities in the place where it is purchased. You receive a title in perpetuity, which means you have the right to use,rent,lend,will, and sell your share of the property as you see fit. Always ask before signing if you are getting the full bundle of rights.

A Leasehold timeshare(a type of nondeeded timeshare property) is very similar to a Fee-simple Timeshare with the major difference being that a leasehold is not in perpetuity. A Leasehold has a specified expiration date that may be at the end at a given year or a given number of uses.

So if your still confused Saintsfanfl, Fee-simple, or deeded timeshare property is similar in many ways to deeded property in anything else. You own it; its yours. The vast majority of deeded property is deeded in perpetuity, that is Forever.
Sounds like you may have a great deal to learn.

This is false. If you knew a great deal about deeded timeshares you would know that many of them do indeed have an expiration date. That is fairly basic deeded timeshare knowledge. The fact is that when it comes to the collective knowledge on TUG, you have a great deal to learn. Selling timeshares simply does not give you an adequate broad range of knowledge. It's a very narrow perspective.
 

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It was certainly one of the more difficult objections to over come. I was never the bully type of rep. If anything I was probably to nice, which made people feel more comfortable telling me no or they had to think about it, etc.

But the rebuttal would have been to point out the fact that they would not get any of the benefits that someone buying from the developer would get(ex:eek:wning so much, putting them at a different status level that would reduce certain fees). Then bring the fact up that "what if the person selling the resale has not paid their maint. dues or loan, which would obviously fall on you to pay". Having to hire a lawyer to check into the standing of the said $1 timeshare for sale, and making sure the contracts are all done the right way. Plus knowing what exactly your buying and how to use it. That you would not be looked at as an owner when you make your reservations, and would have difficulty booking your reservation because it would show up in the computers that you own a resale, so you could be told there is nothing available, or even have your reservation be bumped for someone else that is an owner who bought from the developer.
If I got the sense that the people had already done extensive research into resale, then I would just have fun with them, but obviously the tour would be alot shorter then usual.

This to me is another telling comment. The dishonesty wasn't enough, but it was the increasing intelligence of the buyer that was the last straw.

What was your rebuttal when presented with evidence that you were selling the same exact $1 TS for $15,000? Either you may life miserable for that person because you worked for a really low life firm or you cut them loose immediately because you knew you were dead in the water.
 

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RCI was alot easier to understand back when the books had the point chart right next to the resort.


I missed that benefit when they took it away. It made that blue week more valuable.

I decided to look at this thread to see if anything valuable was going to be shared.

Nothing new. But I did get to reminisce. :D
 

bbminded

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Again, every company is different, but to give you a rough idea on the commission one might make on a $18k deal... $1,000-$1,500. Usually two to four weeks to get paid on it.

Soooooo-- bbminded---sleep well ? Did we lose you ?

Question--- You sell a timeshare for $18k and it goes thru---- how much do you make ? How soon do you get paid ?
 
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