The timeshare industry has become a newfound-haven of scammers and defrauders today. These unfair deeds involve disreputable companies using unscrupulous tactics to take advantage of owners who are desperately trying to get out of their timeshares by selling it. The resale industry on the other hand is considered largely unregulated and to prevent such scams, an initiative is made by the American Resort Development Association (ARDA). This organization is working with its members, including reputable resale companies, to ensure transparency on both the buying and selling process.
Last September, the ARDA had released two consumer advisories to help consumers and timeshare owners navigate through the secondary market. This includes timeshare resellers, Internet advertisers and other resale companies to ensure a safe and positive selling experience. The advisories were developed to help disperse the growing misinformation and confusion in the secondary marketplace by providing specific tips on reviewing timeshare resale companies, and their practices, costs and services in the marketplace.
The first consumer advisory focuses on the types of timeshare resellers with steps to guide consumers through the process which includes utilizing existing resources, understanding timeshare resale companies, choosing the best option, and following basic rules. The second advisory provides tools to evaluate resale companies with a number of tips.
While some just want to get rid of their timeshares up to the point of hiring a timeshare transfer company such as the Transfer Smart, selling such property is still the first option for most owners to recover some costs that they paid for it. The advisories launched by ARDA help the timeshare owners avoid the scams in the resale market and somehow this will bring back the consumer confidence for this industry.