When you help people out of their timeshare contracts for a living, you spend a lot of time listening to stories about sales presentations. The following list of timeshare tricks is based on hundreds of conversations with as many clients. I consider these to be the most effective techniques used to separate people from their money. Most of these tricks are used by all timeshare salespeople, regardless of the timeshare company they work for. We’ll kick off today with trick #1:
Trick #1: Starting out with a ridiculously high dollar amount.
The salesperson does this for two reasons, both of which are critical to getting the sale. By starting off extremely high, the salesperson establishes a dollar reference point by which all other offers can be compared. The technique usually results in the following exchange between husband and wife after their purchase:
“If we hadn’t held out as long as we did, Honey, we would have paid $50,000 instead of the final price of $15,000!”
(Little does the customer know, the salesperson would have accepted $7,000 as the final price.) This trick is pure psychology: $15,000 sounds like a small number and an awesome deal when compared to $50,000 – no two ways about it.
Second, by starting out high, the salesperson now has the ability to make up an excuse for lowering the price, to make the customer believe they are getting a steal. This excuse usually takes the form of a supposed foreclosed property or a trade-in. Rarely is this actually the case, but the salesperson will lie and say it is. This sneaky trick also plants a seed in the customer’s mind that their timeshare can be given back to the timeshare company in the future, which is simply not the case.