If you’ve been on vacation in Mexico, you’ve likely been invited to attend a timeshare presentation. Often times free meals or tickets to special events are used as an incentive to entice potential buyers to attend the presentation. However, is it a waste of time or is it worth it to give a timeshare presentation a chance?
What is a timeshare?
For those who are not familiar with timeshares, it is a financial arrangement where individuals have the right to use shared property for a specified period of time each year. Often times it is usually one or two weeks per years. When your timeshare if part of a group or hotel chain, you may even be able to use your weeks at a different location than the one you initially invested in. There is a large initial investment required to become a timeshare owner, so many people believe that timeshare investments are not the best idea. In addition to the initial investment, there are monthly maintenance fees to keep the property in good condition which may increase over time. Despite these downsides, many timeshare companies offer attractive promotions such as free hotel stays or free tickets to entertainment events in hopes to convince potential timeshare buyers to consider investing. So the question is, is it worth your time to attend a timeshare presentation or not?
The downside of timeshare presentations
The most important thing to consider before you attend a timeshare presentation is that if it seems too good to be true, it likely is. Most times you are offered a great deal such as free tickets or a trip if you only attend what is usually a 90 minute presentation. Sometimes, you also have to take a tour of the resort as well after the presentation has concluded. In general, only certain people are eligible for a timeshare package. Most resorts require you to be at least 25 or 30 years old, meet or exceed a certain income level, and even your relationship status is often taken into consideration. Married couples or those in long term relationships are preferred as they are deemed more likely to invest.
Aggressive Sales Pitch
For some people, it is worth their time to have a chance at free trips or tickets by attending the timeshare presentation even if they have no intention of purchasing. However, be prepared to deal with high-pressure tactics from aggressive salespersons who will do their best to convince you a timeshare is right for you. There are many different tactics timeshares salespersons use in hopes of making a sale. They often will keep you longer than the allotted time in hopes of wearing down your will power. They also are known to create a false sense of urgency which makes it seem like you will miss out if you do not act now and purchase immediately. They will seem to have an answer for any doubt or concern you may have, and even use guilt as a means of coercion. Lastly, if one salesperson does not seem to be making strides in their attempt to sell the timeshare to you, you will likely have to speak to one or more other salespersons to see if they have better luck.
As in life, some situations are good and others are not so it is true that not every timeshare presentation or company uses these techniques. It is more than possible to find and enjoy legitimate timeshare investment opportunities if you know what to avoid. However, be aware that you take a risk anytime you accept free gifts from timeshare presenters as no gift comes without strings attached.
