Once upon a time, I went with a few friends to Orlando. We were approached about attending a timeshare presentation. At the time, I was the only single one with a decent income so I would be the target of the sale. But hey, we would get 2 tickets to a park of our choice. Being curious about how timeshares worked, I decided I could handle the hard sell and negotiated for 3 tickets in exchange…done.
The Tour This property was huge…over 2,000 units and many amenities. My friends and I were shown a one-bedroom unit, although two and three bedroom units were also available. One bedroom units started around $20,000 for one week with an additional maintenance fee of $500 per year. You could also trade your week with someone else at another location for a fee. When my guide asked me what I thought, I said, “The owners are going to make more than $2 billion (that’s right…billion; minimum $20,000 x 52 weeks x 2,000 units) by selling off the units. Once the units are all sold, the maintenance fees will bring in over $52 million per year (minimum $500 x 52 weeks x 2,000 units), which will more than cover all upkeep. So I think I want to buy some land, build a timeshare and sell off the pieces.” My guide knew then he was not going to sell me a unit. The Presentation Although, my guide knew I wasn’t going to buy, he was still required to continue the presentation. We were brought into a large banquet type room full of people receiving the same sales pitch. The presentation was filled with questions where all the typical answers would be yes. Do you like Florida? Do you take a vacation at least once a year? An old sales trick is to get your customer to say “yes” a lot because it makes it harder to say “no”. Knowing this information, I said no as often or maybe more than I said yes. The Hard Sell Since my guide wasn’t closing me, the “Big Man” came over to close the deal. The Big Man tried multiple tactics, switching his approach quickly which included being my friend one moment, to belittling me the next, and ending with wanting my sympathy (“I bought one, do you think I made a bad purchase?”). After I confirmed that I thought he made a bad purchase, I finally got to leave with my 3 tickets. It was very entertaining to see his acting skills…he would make a good Sybil. When I left, I felt sorry for the people in the short line (the buyers). They either bought into their sales pitch or couldn’t figure out how to get out of it. The Breakdown Let’s break down some more issues with this timeshare:
There are many reason to avoid buying or even attending timeshare presentations. I know someone who had to forcibly push her way out of a timeshare presentation in Mexico (the salesmen were blocking the door and not letting people leave until they bought). I am glad I didn’t purchase the timeshare, but I am always surprised to find out that other people do. Are some timeshares a better deal than the one I saw? What are your stories about timeshares? Do you own a timeshare? If so, why did you buy it? Let’s discuss!
1 Comment
11/12/2022 07:09:54 am
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AuthorHi, I'm Debra. Helping others make savvy choices for better living is what I do. Archives
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