Let’s consider 4 issues in the transition from general real estate sales to selling timeshare or vacation ownership: the real estate licensing, the difference in the sales processes, the way you will get paid, and your mind set.
The easiest part of the transition should be in the licensing since the requirements for timeshare and vacation ownership in most states in for fewer hours of real estate education than required for general real estate selling. If you’re moving from a general real estate position to a timeshare position you should be happy to make that easy transition.
The greatest shock will come in the difference in the sales process between general real estate and vacation ownership. For many real estate professionals the amount of money spent to advertise, promote, find and complete transactions to make your living represents a huge portion of your cash flow. Once you’ve attracted the potential customer you never know how long it will take for you to fill their needs and make a sale. It’s a constant battle to keep your business growing and the money flowing.
The timeshare and vacation ownership industry make finding your clients like a dream come true. In so many timeshare locations the clients are provided for you. Timeshare sales agents show up to work and the tours come to them. When you are assigned your client, you have a one-shot opportunity to make the sale, this is where every life skill you have will be important. The more people skills and communication skills you have, the easier you’ll find the transition.
Once the buyer says “Yes” to your vacation ownership product, the closing process starts immediately.The general real estate person is used to experiencing stress from problems with financing, surveys, property inspections, roof and termite problems, title, and legal issues. Timeshare and vacation ownership transactions are finished on the spot and when your new owner leaves, you are done. Some professionals will do a follow-up to thank the new owners and to make sure they’re satisfied and not rescinding the deal. Cancellations are not fun and never make anyone happy.
Most vacation ownership salespeople have more hours to themselves each day since they don’t have phone calls around the clock about their transactions. The sales happen during the work day and then the sales people are done. Those transitioning from general real estate will feel like sellling vacation ownership is more like having a vacation from work.
You’re probably asking yourself with easy licensing requirements, clients provided for you, and working on a commission-basis, and one-time selling, why doesn’t everyone sell timeshare and vacation ownership? The answer for some people is in the mind set of the client and the rejection experienced in selling this product which is different from general real estate or retail selling.
In general real estate, the client usually comes to you with a need and want and a specific ability to pay. The general real estate professional fills the needs and sells, goes through all the procedure, and eventually gets paid if the deal closes.
The vacation ownership timeshare prospect has the motivation to see your presentation because they are being compensated with incentives. They want the incentives and more times than not, they don’t want to buy anything. Their goal is to leave with a gift. The timeshare salesperson must have them leave as an owner and close the deal. Rejection in timeshare and vacation ownership is very high.It will take more clients typically to make your great income, the selling is different but if it sounds interesting continue checking this out, it might be for you.