There are a lot of players in the timeshare market—developers, marketing companies, exchange companies, title companies, resale brokers, resale listing services, rental listing services, magazines, forums, owners’ groups, law firms, consultants and self-appointed experts. How to Spot Timeshare Scams
While the vast majority of these players are legitimate, there are an ever-increasing number of “bad guys” that are in business for the sole reason of taking your money.
How do you know who to trust? Lisa Ann Schreier, a/k/a “The Timeshare Crusader” who has been educating people about timeshare since 2004, has compiled this list that, if taken into consideration will prevent you from being scammed 95% of the time..
No legitimate timeshare resale or rental platform will initiate contact whether by phone, fax, text message or direct mail. Any instance should be treated as suspect.
There are no absolutes in timeshare. If someone promises they can sell your timeshare, or they have a renter or buyer for your timeshare, do not proceed with any transaction. This holds true for purchasing a timeshare from anyone, including developers.
Any timeshare transaction; buying, selling, renting or exchanging should be thought of as a strict financial transaction. If anyone attempts to use guilt or fear to persuade you to make a decision…STOP and do not proceed until you can look at things from a rational standpoint.
Again, any timeshare transaction is a financial one and just as you would not purchase a car, or a house on the spur of the moment, do not be fooled into thinking anything has to be done on the spot. If the opportunity is there today, it will be there tomorrow.
Many scammers use logos that mean nothing in order to trick you. Examples of this include “Verified by ____”, “Member of Chamber of Commerce” and the like.
Lisa Ann Schreier has been involved in the timeshare community since 1998. After cutting her teeth as a timeshare salesperson and manager at a number of Orlando area resorts, she grew increasingly frustrated with the antiquated marketing and high pressure sales techniques that were (and sadly still are) the norm in the industry. Seeking to be a catalyst for positive change, she wrote ‘Surviving A Timeshare Presentation…Confessions From The Sales Table’ and ‘Timeshare Vacations For Dummies.’ She is a frequent contributor to major media outlets and a sought after speaker at consumer advocacy groups. In addition to her articles at Senior.com, she is the lead timeshare advocate at Elliott.org. Her ‘tell it like it is’ blog about timeshare issues is a source of solid information and continues to alert consumers to the myriad of less than reputable companies and practices.View All Articles