Friday, November 8, 2013
In a press release yesterday, the American Resort Development Association unveiled a new infographic designed to offer guidance to vacation owners who need to sell a timeshare on the resale market.
Likening the timeshare resale market to the “Wild, Wild West”, the infographic features a simple, three step guide that outlines the various outlets available to sellers including the two main sales models: Broker or For Sale by Owner (FSBO). ARDA’s acknowledgement of the need for resale solutions (and the relatively unbiased representation of these options in the infographic) is a great step toward educating consumers about the resale market.
The infographic and corresponding press release were created in response to the recent steps taken against fraudulent resale companies in both state governments and the federal government.
President and CEO of ARDA, Howard Nusbaum commented, “We have worked closely with the Federal Trade Commission (FTC) and many states to educate consumers about how to avoid scams in the secondary market.” Nusbaum added, “We encourage anyone trying to sell their timeshare to take the time to understand their options and to use the resources available to them.”
ARDA’s infographic focused on educating consumers about the different options available to them on the resale market, while its press release presented a more scathing representation of the secondary market as “overcrowded, confusing, and unregulated”.
While we applaud ARDA for its efforts to educate consumers about fraudulent companies, its characterization of the secondary market was markedly one-sided, focusing only on the “bad players” in the industry without acknowledging the “good players”, the growing number of legitimate timeshare resale companies in the space. It is important for owners to understand that viable resale solutions are available through experienced companies.
It is also important to note that the market is not “overcrowded” so much as it is growing due to increasing transparency and access to timeshare resale inventory fueled by the growth of the Internet and today’s tech and research savvy consumer.
To view ARDA’s press release, click here.