Transfer Smart Alert: Timeshare Scams and its Effects on the Industry

Nowadays, timeshares have a bad reputation due to a number of scams in which some unscrupulous agents or companies use to lure potential owners. Meanwhile, for every person that gets scammed in the timeshare business, this also affects the honest businesses resulting to significant lost sales. In studies done by different organizations, it shows that those people who were scammed in the timeshare industry not only leave with a bad taste, they also tell their families and friends which results in lost revenue for the future of the honest companies. Moreover, this might also affect the current owners to influence them to get out of their timeshare contracts.

To help combat the effects of scams on the timeshare industry, there are some organizations which create committees that do nothing but research companies that are offering services for the timeshare industry. Currently, they are posting the information they collect which not only hurts the dishonest companies but also helps the good companies as they are getting an endorsement from such organizations.

Such organizations report the companies that are using dishonest tactics will help the industry and create a business market place where the consumers feel safe to conduct business in. With this, the growth of the timeshare industry has sky rocketed in the last few years creating a market for scammers to operate and generate dishonest income.

Scams in the timeshare industry have a great impact on consumers particularly on potential timeshare owners. Resale scams had been cited as one of the top complaints in the timeshare industry. As many owners try to get rid of their timeshares by selling it, some fraudulent resale companies victimized these owners. That’s why some owners hire a reputable timeshare transfer company such as the Transfer Smart to get rid of such property.