In anything where the rewards are very high, there is going to be an element of risk. Cancellations are the risk in Timeshare........FACT!!!! If you play the stock market you can make plenty of money when your shares go up, and of course you can also lose when they go down. That is the risk you choose to take. The people who make money are the ones that stick it out long term, knowing that to be successful you have to take the ups and the downs.
If you have been in the Timeshare business a long time you will find with cancellations the deals you thought were solid, kick, and the deals that looked a bit shaky end up going ahead. You just never know. The worst bit is hearing all the stupid excuses that a client will give you when they cancel.
Like a packet of cigarettes carries a big sign saying smoking can cause death, we should give a sign on the Timeshare paperwork that says:
WARNING!!! BUYING A TIMESHARE CAN LEAD TO YOU LOSING YOUR JOB AS SOON AS YOU GET HOME! It's amazing all the different reasons a client will give when they decide not to go ahead, and you have to accept that many things can lead to this happening. Buyer’s remorse can play a big factor, even just speaking to a friend or family member can cause that dreaded call, email or fax to say they wish to cancel.
Cancellations are part of the job........FACT!!!! You have to remember this. This is the risk factor of your job. You chose the path of Timeshare. The fact is, you will have days when you sell, and days when you won't. Also, you will have sales that decide to not go ahead. Accept it, and then move on.
The best way to replace a cancellation is to get another deal.
You should not dwell on cancellations at all if you know that you have gone the full distance. This being a correct presentation, presenting all the positives and negatives of owning, backed up by a full follow up when the clients leave you.
A big tip is that if you get cancellations constantly then review what you are saying to the clients, and check your presentation. The slightest thing that may not be the truth, or an extended truth, can cause your clients to wobble.
Don't be scared of the cooling off period or rescission. It is always going to be there so use it to your advantage. The Sales Professional's who do not like this are the pitchers who just bang deals down and hope they stick, NO NEED. The rescission period is a great tool. In the old days you got the clients to sign, got your money, and NEXT. However, this would lead to the product being presented the wrong way, and why now a lot of trust has to be built into your presentation. To help keep your cancellations low after they sign keep working them. Flowers to their home, postcards, a little gift, a follow up call, all play a big part in keeping your sale in bed. Many Sales Professional’s just sign them up and that's it. They just wait for the funds to come through.
Even with the cancellation period there are top performers in this industry that hardly get any, WHY?? Ask what they do, maybe they pitch the product as it is and have a professional follow up procedure that makes the client feel even happier with their purchase?