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In what seems to be an extremely overdue gesture, government officials in Florida and ARDA, have joined forces to introduce the Timeshare Resale Accountability Act, which seeks to imposed a standard for operating a timeshare resale brokerage on the secondary timeshare market as well as establish penalties for those who are deemed to be practicing without licensing or “companies that engage in misleading and fraudulent practices”.
I personally have referred hundreds on seller’s to the Florida Attorney General’s Office to file their complaints on the numerous businesses still charging upfront fees. Selling Timeshares Inc. is pleased to hear that these steps are being taken. We can’t tell you how many of our sellers have been scammed by the company they had used before us. It has taken thousands of complaints and years of time, but hopefully this act can show the timeshare resale industry what we have always believed, Licensed Real Estate Agents should handle your purchase or sale with honesty and integrity, you should be able to sell your timeshare with no upfront fees, and your purchase should include all extra benefits available on the resale market. No exceptions.
Full Press Release: Wyndham Vacation Ownership Commends Florida Attorney General’s Crackdown on Timeshare Resale Scams
ORLANDO, Fla. (October 4, 2011) – Wyndham Vacation Ownership (WVO), the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies (NYSE:WYN), commends Florida’s Attorney General Pam Bondi for aggressively pursuing action against timeshare resale companies that employ deceptive and fraudulent practices that prey on consumers.
“Attorney General Bondi has put timeshare resale companies on notice in the state of Florida,” said Franz Hanning, President and CEO of Wyndham Vacation Ownership. “Our industry has long benefited from responsible regulations that protect consumers and ensure the integrity of products and services. Timeshare resale companies should not be exempt from these standards and we applaud Attorney General Bondi for leading this effort on behalf of Florida timeshare owners and our industry at large.”
Earlier today in Tallahassee, Attorney General Bondi, with the support of the American Resort Development Association (ARDA), and the American Association of Retired Persons (AARP), proposed legislation called The Timeshare Resale Accountability Act, requiring full and fair disclosure of the terms and conditions of services being offered by timeshare resale companies, a reasonable rescission period and penalties for those individuals and companies that engage in misleading and fraudulent practices.
Wyndham Vacation Ownership, with headquarters in Orlando and delivering the best possible vacation experiences, operates 16 resorts in the State of Florida. According to research by the ARDA International Foundation, nearly 23% of all U.S. timeshare resorts are located in the state. In 2010, Florida sales were $2.2 billion of the U.S. total of $6.4 billion.