Timeshare Laws and Advisors
I don’t have to tell anyone of you that the subject of resales has always been a subject that stirs a great deal of emotion and strong opinions but has rarely led to solutions.
Fast forward to the present economic environment and I am becoming more optimistic that there are solutions for the industry that are good for developers, resales professionals and consumers. The cost and scarcity of construction financing coupled with inventory needs has led to a renewed interest in solutions for all stakeholders. To that end, I am pleased with both the recent Resales Forum and newly appointed model resales task force which have and will continue to bring a new united voice to his issue. And, by doing so we will better serve all constituents from the consumer to the developer to the HOA manager, from resellers to advertising and Internet communities, which leads me to the subject of today’s memo. In order to have the unified and credible consumer centric voice we must also being willing to be out front educating consumers regarding the present murky resales environment. The bad behavior in that arena impacts the view of the timeshare product in its entirety.
Unfortunately, the current economic environment has resulted in some unscrupulous companies taking advantage of owners who need to sell their timeshare. This is not an indictment of our reputable resale company members, but rather a problem faced by everyone who loves this vacation industry but fears is it being unfairly painted due to fraud in resales with the “timeshare scam” brush. Here are just a few recent headlines: “AG Stops Timeshare Reseller from Calling (NC),”Protecting Yourself against Scams” (AR); and “Timeshare Owners Targeted by Scams” (London).
ARDA has a responsibility to represent transparency on both the buying and selling process, especially during these tough economic times, In response to the increase in owner complaints and confusion, as well as the adverse publicity that taints the entire resort development industry, we developed two resale advisories that I want to share with you today: Resale Advisory I and Resale Advisory II.
The two advisories will be posted on the ARDA website and released to the media after Labor Day. The intent of the advisories is to (1) educate owners, the public, and the media; and (2) demonstrate that ARDA’s reputable developers and resale companies want to help owners navigate the unregulated resale environment to ensure a positive and realistic selling experience.
As most of you know, the resale process is one of the five key items to come out of the Think Tank at Convention for critical focus. I wanted to provide you with advance notice of this resale outreach to the public. It is a first step of our long term goal of developing a healthy secondary market that will benefit owners, developers, and resale companies who believe in this industry and its products.
Please contact me with any questions or comments.
Howard C. Nusbaum, RRP
Urgent Consumer Information
Recently the name Land of Liberte Realty,
Inc. was used in contacting individual
timeshare owners for both sales and
rentals of their timeshare units.
THIS IS A SCAM!