Timeshare Sales and Contracts Questions And Answers Rated 100% Correct!!

Because of the complexities of the product, the timeshare sales person will spend approximately what percentage of the timeshare presentation on product knowledge? - Answer-10% After a prospect indicates a willingness to purchase, the salesperson's next big challenge is to: - Answer-Ensure that all components of the purchase contract are covered and clearly understood. A promissory note represents: - Answer-An unconditional promise in writing made by the purchaser to the developer (seller) to pay at a definite time a certain sum of money to the note holder. The primary purpose of the trial program is to - Answer-maintain a relationship with the non-buyer In the timeshare sales process, the sales executive is able to build the financial case for the product if - Answer-The prospects usually spend approximately $4,000 to $5,000 on vacations annually. Which of the following is the biggest drawback in using a script during the sales process? - Answer-It limits the degree of flexibility on the salesperson's part in presenting the vacation ownership product. In timeshare sales, the personal selling approach is referred to as a - Answer-Consultative sales process Because of the nature of "relationship selling", the timeshare sale is generally made - Answer-Within the first 15 minutes of the process During the trial close process, it is important for the salesperson to: - Answer-All of these steps are important. In the timeshare sales process, whose responsibility is it to get the buyers in front of the sales executives? - Answer-The marketing department's Immediately after a consumer has purchased a timeshare, many resort use a quality assurance manager or "button-up" person to: - Answer-Assure that the purchasers understand what they bought and the terms of their contractIt is unlawful to explain that timeshare provides - Answer-an investment based on the expectation of real estate appreciation Your company uses the "Five Whys" as the decision sequence in their sales process. One of the sales executives on tour has a personal emergency and needs to leave immediately. On his way out, he says "I just finished up with "Why Timeshare"? What will the rest of the sequence that you pick up look like? - Answer-why this company, why this location, why today What is the forecasted volume given the following information? All tours are hooked. 200 tours scheduled. Channel efficiency of 20%. VPG of $3,500 - Answer-$700,000: All 200 tours will show because of the hooked nature, so you just needed to multiply the number of tours by the VPG. Unit design, furnishings, appliances, and fixtures can be an important influence on the sales tour because - Answer-All of the answers are correct. You are being interviewed as a potential Sales Executive for The Ritz Carlton Club, and the hiring manager asks you if you are licensed to go front to back. What is an appropriate response? - AnswerYes, I have my real estate license and have been leading prospects from the presentation to contracting.If a TO is present, you are not able to go "front to back." What is the channel VPG given the following information? - Answer-1,000 tours x 85% show = 850 guests. 850 guests x 20% closing @ $20,000 each = Volume of $3.4M Divide $3.4M by 850 guests to get $4,000 VPG Pre-tour activities are designed for the salesperson to: - Answer-Break the ice and provide general information to the prospectIn talking about exchange services, one should strictly avoid telling a timeshare owner or prospective owner that: - Answer-All of the answers are correct.