Thursday, November 10, 2011

What's With The Word "Timeshare" Anyway?

I don't know what it is about the word "timeshare" that causes so many otherwise rational people to lose their common sense and all semblance of reality.

Yesterday, at the LTRBA meeting in Orlando, one of the state officials said that his office heard from an individual who had paid a company more than 20 times to the tune of over $100,000 to sell his timeshare.  One person!

Now, I know that the big discussion at the meeting was about the "upfront fee" companies vs the licensed (i.e. no upfront fees) brokers.  But honestly, the average consumer is not going to know the difference between "commissions", "advertising fees" or "listing fees" or anything else.  And I've said before that nothing is free.

So, I think the industry would be better served to issue warnings to consumers to NOT do business with any company that contacts them first. I mean, I can't imagine anyone, not even the poor sap out more than $100,000 and STILL holding on to his timeshare, would fall for these schemes for a house, a car, a computer or a pair of designer jeans.

"Hello, Mr. Consumer...we have a buyer for your 1995 Camry...the one that you haven't even thought of, much less put up for sale.  All we need is $3,000 for title transfer and we'll send you the remaining $20,000..."

What is it about the word "timeshare" that causes people to lose touch with reality?

The bottom line is don't do business with companies that contact you out of the blue.  Maintain all the control you can.  And some smarts for heaven's sake.

1 comment:

  1. I agree with Lisa: Don't do business with companies that contact you out of the blue. I think some owners are desperate to get out of their timeshare, and some companies prey on these desperate owners.