Original Message:
Re: Upfront fee resale companies are against the law in Florida .... report them ASAP (by David M.):
lynns271 wrote:Interesting, seems like all I hear of are upfront fee outfits and occasionally shady sounding fee recovery outfits. How do I find this company? How successful have they been? Also are there any honest companys that will rent unused (banked) weeks?? DM in AZThe FL law states an upfront fee cannot be charged by resale companies when listing a timeshare for sale. The key word is "listing". Many of the companies are well within their rights to charge a fee for advertising a timeshare, as long as a "brokerage agreement" (listing) is not been entered into by the parties. There are several companies who offer two choices. One: they charge a fee to place your timeshare on their website, and you act as a "for sale by owner" should a buyer ever be interested. So basically, you are paying for advertising; nothing more. The second option is: they offer brokerage services to sell your timeshare, just as if you were selling a house. You sign a listing agreement with the company, and you only pay a commission if and when the sale is completed. Both of these options are totally legal for a company to do. I know of one resale company in the Orlando area who is offering these options. All of their "agents" hold real estate license, and can discuss market values, etc with potential sellers (and buyers). After speaking to a seller, they give them the two options. It is entirely up to a seller as to what they would want to do. My question is, Why would anyone in their right mind pay an upfront fee when you can get the same service by signing the brokerage agreement that says nothing is owed until a ready, willing, able buyer comes forward?