WorldMark by Wyndham provides owners and their guests with beautiful resort locations across the United States, as well as Canada and Mexico. However, as an owner you may find yourself ready to sell your vacation credits and wondering what the resale value of your WorldMark timeshare would be. There are a few key factors that determine the fair market value of your WorldMark credits on the resale market. In this article, we will walk you through exactly what to expect when selling your WorldMark timeshare.
Worldmark Credits Resale Value
Buying direct from WorldMark by Wyndham will cost potential owners anywhere from $2 to $3 per credit at this time. Resale value of these credits will be a small fraction of that original price. Current resale values range from as low as 25 cents per credit to as high as 40 cents per credit on the resale market.
Prices do fluctuate through time, so be sure to check with a trusted WorldMark broker or reseller to ensure you have up to date information before listing your WorldMark credits for sale.
Avoiding Scams – If It’s Too Good To Be True…
As a seller of a WorldMark timeshare, listing your timeshare for much less than what you paid at the presentation can be an emotional process. We have successfully helped thousands of sellers, and it is never easy for our clients when we broach the subject of fair market value.
For this very reason, there are many companies that will tell you that your timeshare is worth much more, but all will accompany their optimism with demands of up-front listing fees. No reputable broker or reseller will ever charge you an up-front fee, whether it’s listing costs or marketing fees, never pay up-front. Once the timeshare has been sold, your broker will be paid from the proceeds of the sale. If they can’t produce results, they should not be paid. This ensures your interests are exactly aligned with the people you hire to sell your WorldMark timeshare.
If you are ever doubting the reputation of the broker you are speaking with there are 3 main acts of due diligence you should perform:
- Verify the broker’s licensing with the state they are operating in
- Ensure the agent you’re working with is properly licensed.
- Ensure the broker is properly licensed as well.
- Ensure their licenses are in good standing with the respective Real Estate Department / Bureau in their state.
- Seek online reviews for the broker
- Ideally, your broker should have years of positive experiences on their google maps listing, yelp or an equivalent.
- While this is not foolproof, it is hard to run a scam for long without some negative feedback online.
- Just keep in mind, lack of online complaints doesn’t necessarily mean the broker is reputable.
- Check the BBB for negative feedback, but beware!
- Fly by night companies change their name all the time, so again, lack of complaints doesn’t mean the company is an honest company. This works only as a way to disqualify a company.
The Cost of the Presentation Sales Model
One part of the reason for the large disparity between retail and resale prices is due to the fact that those who purchase directly from Wyndham, at the timeshare presentation, are paying a price per credit that will cover WorldMark’s exorbitant marketing costs.
Guests who visit a timeshare presentation receive special gifts to entice them to attend, and the cost incurred is a major factor in the much higher price that is paid at a presentation. In fact, over half of the cost of a direct timeshare purchase will go to funding these gifts and presentations. This will unfortunately lead to a large decrease in the value of the credits when owners try to sell on the resale market due to those marketing efforts being of little to no value to consumers privy to the WorldMark resale market.
Supply & Demand of WorldMark Credits on the Resale Market
Whenever you’re faced with determining the fair market value of any item, supply and demand will be one of the major factors to consider. When marketing any item, particularly properties that are well past the impulse purchase threshold of the gum and candy you find in the checkout aisle, the price of your WorldMark listing will be evaluated based on the other ownerships for sale at the time you list your timeshare for sale.
The current competition of other sellers listing their timeshares can considerably sway the current market, as buyers are generally well-versed in searching online to find the lowest price per credit. For this reason, it can be a huge benefit to consult with a trusted WorldMark broker to ensure you are listing your ownership not only at the right price, but also at the right time.
The Value of Pricing Your Credits Correctly
In addition to being competitive with other listings, pricing your WorldMark resale appropriately is incredibly important to avoid paying the ongoing maintenance costs associated with holding onto the timeshare. WorldMark maintenance dues are generally charged quarterly, so letting your timeshare sit can end up being an expensive process. Also keep in mind, it can take 6-8 weeks to transfer the ownership as well, in which the seller is responsible for keeping the account current during that time.
What Does The Buyer of My WorldMark Credits Get?
Those who purchase their WorldMark timeshare on the resale market will be purchasing at a massively discounted price, making their yearly vacations extremely affordable when it comes to lifetime costs of ownership. All of the same core benefits of WorldMark timeshares are there with credits purchased from a resale company, with less risk of loss when your travel habits change, and a very attractive purchase price.
When using a licensed timeshare broker, both buyer and seller are protected by using a third party closing company that will hold the buyer’s funds in escrow, and ensure the purchase agreement is upheld exactly as it is written. The broker will be paid from the funds in escrow. No up-front costs are incurred by the seller.
Ready To Sell Your WorldMark Credits?
You can get more information on selling your WorldMark credits by speaking to one of our experienced timeshare agents. We have licensed WorldMark experts that demonstrate the fair market value of your credits by showing comparable sales metrics, provide detailed information regarding the milestones of your transaction, and consult with you regarding any questions you may have about your particular situation. Don’t hesitate, fill out a contact form, and get your free consultation today!