A friend of my recently came across a company called IBD Marketing and was in contact with them regarding selling an RCI affiliated timeshare unit in Orlando, Florida. After offering them a sum about 3k higher than what they had assumed they would be able to sell their timeshare for, they called me for assistance. I was unfamiliar with their organization and decided to do some investigating before giving my friend the go ahead to try to list and sell with them. My first search was a simple Google query for “IBD Marketing”, and I have to say I was mildly shocked when I realized that the first 10 listings were all negative commentary on the company, and not one of the links was to the actual company website itself! That was only the beginning of the bad omens…
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Despite the fact that timeshare has been gaining a more respectable reputation as a result of major resorts such as Marriott and Hilton now offering timeshare packages, there are still some resort companies that use deceptive tactics to secure a sale. There are still incidents of resort companies using hard-sell intimidation or illegal sales tactics in selling timeshares. It is because of the existence of these dishonest resort companies that rescission regulations exist. Victims of illegal timeshare sales practices need to be aware of their rescission rights in order to get out of their contract without penalty.
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Most timeshare units are sold at a presentation, and even more often, there is a prize or incentive offered just for attending the timeshare presentation. The most common incentives include: discount hotel rooms, weekend getaway packages, show/event tickets, and prizes such as automobiles and boats. Being aware of these incentives, the high pressure sales tactics used by timeshare salespeople, and other tricks of the trade are important when considering purchasing timeshare. If you are interested in timeshare, the following 7 tips will help you to avoid being scammed into purchasing timeshare:
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