When you finally decide to get rid of your timeshare, you’ll quickly learn that it’s not as straightforward as you’d hope.
It can be complicated enough that there are scam companies that supposedly specialize in helping people get out of timeshares. Rather than taking the risk of dealing with a scammer, here are two ways to try to get out of a timeshare on your own legally and safely in ways that won’t hurt your credit.

1. Find out if the resort has a “deed-back” program. These allow you to return the deed to the resort, but you’re not selling it—you won’t get any money, and some resorts may even require you to pay a fee to get out of the timeshare.

2. Sell the timeshare. There’s a resale market for timeshares, although you won’t make money this way, either. Unlike other properties, timeshares don’t appreciate in value. Two sites to try are tug2.com and redweek.com. Be very cautious about using a third-party company to resell your timeshare, as this is an area that’s rife with fraud.

Some sources on this topic mention that simply by not making timeshare payments you’ll eventually be foreclosed upon and can get out of the timeshare that way. Doing this, however, can have significant negative effects on your credit.

There are differences between Realtor®, agent, and broker. Even though a lot of times they’re used interchangeably, they’re not the same. Here’s an easy-to-consume guide for what the differences are.

Real Estate Agent

Real estate agent is the most straightforward category to define. They are individuals who are licensed to help people buy, sell and rent real estate. Real estate agents organize property transactions between buyers and sellers, or renters and owners.

You may have heard the terms ‘buyer’s agent’ and ‘listing agent’ before. And they’re exactly what they sound like. A buyer’s agent is a real estate agent who represents the home buyer, and a listing agent represents the seller.

There are state-level requirements for becoming a real estate agent. In Colorado, a new agent must:

• Complete 168 hours of education coursework —OR— hold a degree from an accredited college or university with a major course of study in real estate.

• Take and pass both national and state portions of the Colorado Real Estate Broker’s exam.

• Complete a fingerprint background check.

Real Estate Broker

A real estate broker is an agent who took their professional education one step further and passed a broker’s license exam. They’re able to work independently, start their own brokerage and hire other real estate agents. Brokers generally have a more in-depth knowledge about real estate because they’ve had at least three years’ experience as a licensed agent before obtaining additional licensure.

Realtor®

The title “Realtor” is highly respected because it shows a commitment to excellence. A Realtor is a licensed agent who is a member of the National Association of Realtors® and adheres to the standards and ethics of the association. You can trust that a Realtor® will conduct themselves with integrity and the utmost professionalism.

At Kenney & Company, you know you’re getting the best service and integrity because all our agents are required to be a member of NAR, and local Realtor associations like the Pikes Peak Association of Realtors or the Denver Metro Association of Realtors.

We’re possibly a little bit biased, but hiring a real estate agent is imperative when venturing into a real estate transaction—they’re professionals wearing many hats.

Some people have strong views about real estate agents, and they’re not necessarily positive. It’s understandable! When someone has a particularly negative encounter they tend to circle the wagons and are wary to trust again. Rest assured, you will have an exceptional experience with our agents!

So, why should you hire an agent?

They’re professionals at finding what’s just right.

Finding the right home at the right price can be like finding a needle in a haystack. It’s crucial to understand the market and home values. An experienced agent will conduct research and make comparative analyses on your behalf. They’ll also know which questions to ask sellers, which lenders are right for you and your financial situation, and connect you to other valuable vendors.

They also know what red flags to look for in a home that might end up costing you a lot of time, money and headaches. They’re on alert for issues you might not think to look out for. With their knowledge and experience, they’ve developed a keen eye.

They’re legally obligated to keep their client first.

It feels nice to have someone on your team and know they’ll have your back. When you hire a real estate agent, they’ll put your best interests first! Yes, there is a legal responsibility, but at Kenney & Company, we mean it when we say it’s not just business – it’s family! Our agents care about you and your goals. We see you like family, and you’ll be treated as such!

Real estate agents have a fiduciary responsibility to their clients. That means that they operate with a high standard of confidentiality. And this is what you want when someone is handling sensitive financial information and helping you during one of the biggest transactions in life. You can rest easy knowing that your real estate agent will conduct themselves with honesty and integrity.

Negotiating experience and prowess.

Experience is the best teacher. Real estate agents have mastered different techniques to get their clients the best deal. Even if negotiating is one of your strengths, you really want a third party who understands the nuances of the market and real estate standards. They know which cards to play and when!

It’s really about the money.

Some people would rather save money instead of paying an agent’s commission. The question is: is the money saved worth the time, effort, energy and peace of mind from having a professional conduct the transaction?

It’s important to note that research from the National Association of Realtors (NAR) shows that sellers who list their own home for sale typically sell their house for roughly 12 percent less than the selling price of other homes.

It’s important to choose a real estate agent you trust. It’s ok – and even encouraged – to ask the tough questions!

It can be a little bit daunting to start your real estate journey. You’re dealing with the most valuable asset most people have — your home!

Whether you’re buying for the first time, selling a home you’ve had for years, or searching for an investment property, it’s important to find a real estate agent who fits your needs.  

So, how do you start? Well, this is a business transaction, a professional relationship. And usually, those arrangements start with an interview. But don’t get intimidated by that! Chances are you’re going to be working very closely with your realtor, so the vetting process can be very conversational. It’s your chance to ask the tough questions and get a feel for your rapport. We want you to feel comfortable with the person representing you as you maneuver this journey. 

Do you work with buyers and sellers? Do you work with real estate investors? Are you involved in commercial real estate?  

This seems like a no-brainer, but some agents are focused on one aspect of real estate. You can rest assured that our team is well-versed in all facets of real estate. Kenney & Company offers a comprehensive menu of real estate services! So, that means that our agents have direct access to expertise on almost anything you can think of in real estate! 

Do you work as a full-time agent? 

Asking if someone is working full-time or part-time in real estate is simply to determine what their availability is, not their commitment to serving you. Some agents work in an additional profession, some agents are primarily parents and caregivers. You’ll know that if someone is working full-time as an agent they’re available to answer your questions and address your needs during regular working hours. This question is simply to gauge your expectations for their availability. 

Will I be working with you one-on-one or with a team? 

Introductions to everyone involved in the process are important, right? Some of our agents do work on a team. Some have assistants. The more the merrier! But you’ll want to know before you start working together who’s making the magic happen on your behalf. 

Have you worked with buyers to find homes in these price ranges or this area? Have you sold homes at the price point I’m looking to sell? Have you sold homes in this area? 

Different price ranges require different tactics. It goes without saying that homes in the $300,000 range are a hot commodity right now, and they draw a lot of interest. So, if you’re looking to buy in that range, you need to have faith that your agent has the know-how to draft a competitive offer on your behalf. As a seller in that price range, you want confidence that your agent knows how to leverage your property into the biggest financial return for you. Relatedly, having an agent who is familiar with the nuances of buying and selling luxury properties will give you an advantage.  

At Kenney & Company, each agent has the backing of hundreds of years of collective experience. You name it, we have someone who specializes in it!  

Can you recommend (fill in the blank)? 

Home buying and homeownership come with a litany of issues and responsibilities. Leading up to buying or selling a home, our agents can make recommendations for mortgage lenders, appraisers, inspectors, movers, and more! When you need a recommendation for other vendors like contractors, landscapers, plumbers, electricians, flooring, cleaners, or anything else — reach out to your agent for a 5-star preferred retailer.   

We welcome your questions about choosing a realtor! Our team will work with integrity and serve you with professionalism and respect. Feel free to reach out to us or to any agent with questions. We’re eager to help you buy, sell, rent or invest!