I read an interesting article over the weekend about cognitive biases that consumers have. The article rightly pointed out that “users filter out a lot of the information they receive, even when it could be important.”
This is obviously true when it comes to purchasing a timeshare for reasons we’ve often discussed here on the blog. However, it’s even more true when it comes to owners wanting to get out of a timeshare.
Among the biases that illustrate this are:
Confirmation Bias
People look for evidence that confirms what they already think. People tend to search for, interpret, prefer, and recall information in a way that reinforces their personal beliefs or hypotheses.
Banner Blindness
Users tune out the stuff they get repeatedly exposed to.
You can read the entire article here:
https://growth.design/psychology#banner-blindness
Banner blindness really stood out to me because no matter how many times I, and other people looking out for timeshare owners’ best interests, state categorically:
a) to avoid any company or entity that initiates contact
b) not to do business with anyone wanting an upfront payment
c) the value of the timeshare is a tiny fraction of the purchase price
d) getting out of a contract, particularly when there’s an amount owed should be handled by a qualified attorney as it’s a legal contract
inevitably I’ll receive emails or read social media posts saying “Yes, but what about Company X?”
They acknowledge that they’re aware of the countless warnings but still think that the mysterious Company X is the answer to their timeshare problems despite the fact they were contacted out of the blue by Company X wanting an upfront fee, claiming that they had a buyer for the timeshare for $75,000 and/or there’s no attorney involved or needed.
I’m stymied. I’m frustrated. Maybe if all the people, myself included, take a break from warning people common sense will kick in.
Or maybe not. Frustration makes people do strange things.
What say you?
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