Tips to Avoid Timeshare Scams

When engaging in the resale of Disney Vacation Club (DVC) contracts, it’s important to be equipped with the right knowledge to avoid common pitfalls or timeshare scams. Whether you’re looking to buy or sell a DVC timeshare, the key to a successful transaction lies in understanding the nuances of the resale market and choosing a broker with the right credentials and transparency. Here are some tips to protect yourself from scammers and have a smooth DVC Resale purchase:

Avoid Upfront Seller Fees and Inflated Administrative Costs

Beware of brokers who require upfront seller fees or administrative fees. In Florida, charging upfront fees to sell your timeshare is illegal, and while a marketing company connected to a broker might legally charge a listing fee, it’s often unnecessary and could lead to costs without a successful sale. Similarly, administrative fees often serve to increase a broker’s compensation under the guise of additional charges, which can inflate the buyer’s cost and potentially reduce the seller’s profits.

The Importance of Accreditation and Transparency

A broker’s accreditation, such as with the Better Business Bureau (BBB), is not a fail-proof endorsement but does indicate a willingness to be reviewed by an external body. This accreditation, together with reviews and a transparent history of complaints and resolutions, provides valuable insights into the broker’s business practices. Additionally, a trustworthy broker should clearly outline costs such as closing fees and annual dues without any hidden charges.

Leveraging Google Reviews for Informed Decisions

When considering a broker for your DVC resale needs, don’t overlook the significance of Google Reviews. These firsthand testimonials can offer nuanced insights into the experiences of previous clients. Positive feedback and high ratings often speak volumes about the broker’s reliability, efficiency, and customer service quality.

Conversely, negative reviews could expose recurring issues, giving potential customers a forewarning. It’s always advisable to read through a variety of reviews to draw a balanced understanding, keeping in mind that an isolated poor review could be an exception rather than the rule. However, a pattern of dissatisfaction should not be ignored. Google Reviews serve as a powerful tool to gauge the overall public perception and credibility of a broker in the DVC resale market.

Market Transparency and the Date of Listings

Choose a broker who provides crucial market updates and transparency regarding average sale prices and right of first refusal (ROFR) reports. Be cautious of outdated listings that exist merely as bait to attract buyers—with no real availability. Brokers like DVC Resale Market differ in that they list the date a contract was added to their offerings, allowing you to understand how long a listing has been active.

Low Commission Claims and Understanding Service Tradeoffs

While some brokers may advertise lower commissions to entice DVC sellers, it’s essential to consider the tradeoffs. Potentially lower costs could mean diminished resources for marketing or administrative staff, which are crucial to a smooth and successful sale. Without enough staff to respond to requests to sell or offers from buyers, the broker will be less successful at selling a DVC contract.

Operating Hours and Sales Agent Availability

It’s advantageous to work with a broker that accommodates weekend sales and manages time zone differences efficiently. The absence of sales agents during weekends or beyond specific regional hours can mean missed opportunities for sellers.

Access to a Two-Year Sales History

Although it is no longer a legal requirement, requesting a broker’s two-year sales history can provide reassurance of their effectiveness in the marketplace and offer a prediction of future success in selling contracts.

Listing Contracts and Fees

Stay vigilant against listing contracts that demand full commission regardless of whether the broker successfully sells the DVC contract or if the seller decides to cancel within a specified period. Such conditions can unjustly bind sellers to pay fees for potentially unfulfilled services.

Verifying Authenticity

Scammers may impersonate legitimate company representatives as a trust-building tactic. Always verify the authenticity of the company by checking their official website and using the contact information provided there to ensure you are speaking with an official representative.

When to Contact Authorities

If you encounter requests for upfront payments or suspect fraudulent activities, contact local law enforcement promptly. The Federal Trade Commission and the Attorney General of Florida are also key resources for reporting suspicious behavior and seeking guidance. You can contact these agencies via the following numbers:

 Federal Trade Commission (1-877-382-4357)

Attorney General of Florida (1-866-966-7226)

The Expertise of DVC Resale Market

Renowned for their expertise, the sales associates at DVC Resale Market boast over 200 years of combined direct DVC experience as former Disney-trained guides. With a track record of selling over $1.3 billion in DVC contracts, they are the leading exclusive reseller of DVC memberships, promising an unparalleled level of service for both buyers and sellers.

Navigating the intricacies of DVC resale requires due diligence, transparency, and the support of seasoned professionals. By keeping these considerations in mind, buyers and sellers can embark on transactions with confidence, backed by the security of informed choices.