Just attended owner's presentation-Salesperson stated all my Club Points I elect are almost worthless UNLESS I buy Club Points as a hybrid system?!?!

[Mongoose]

Experience is evidence. Or was I merely imagining seeing all that inventory out there? What a *sorry, edited for family-friendly viewing*.

LOL, not according to the law or scientific method, unless you are a flat earther!

 

[sponger76]

LOL, not according to the law or scientific method, unless you are a flat earther!

Well, in a legal setting they do allow people to give testimony based on what they saw. And the scientific method does include observations. No, I'm not a flat-earther.

 

[Eric B]

They have to have a real estate license in order to sell timeshare deeds.

Sent from my SM-N950U using Tapatalk

Does that requirement cover all timeshare sales personnel in all jurisdictions or just the closing agent or manager in some jurisdictions? What about timeshare sales personnel that are selling trust points like the Sheraton and Westin Flex products or Marriott Vacation Points for which a deed is not issued to the purchaser? I realize that some people have said that all timeshare sales folks have to have real estate licenses and had actually found the link to Syed's website saying that myself prior to receiving that reply, but don't believe that it really matches my experiences across the spectrum of timeshare companies.

I do believe there is some truth to the need existing in some places for someone on the sales staff to have a real estate license, but I don't believe they all have licenses.

 

[dioxide45]

Does that requirement cover all timeshare sales personnel in all jurisdictions or just the closing agent or manager in some jurisdictions? What about timeshare sales personnel that are selling trust points like the Sheraton and Westin Flex products or Marriott Vacation Points for which a deed is not issued to the purchaser? I realize that some people have said that all timeshare sales folks have to have real estate licenses and had actually found the link to Syed's website saying that myself prior to receiving that reply, but don't believe that it really matches my experiences across the spectrum of timeshare companies.

I do believe there is some truth to the need existing in some places for someone on the sales staff to have a real estate license, but I don't believe they all have licenses.

Abound Trust Points, Westin & Sheraton Flex are all deeded. One thing to note, when I have gone in to some sales offices, there is often a plaque on the wall with someone's name and then "licensed real estate broker". I don't know that everyone in the office talking to a customer needs to be licensed. Perhaps just the closers that give you the numbers require a license?

 

[cubigbird]

Abound Trust Points, Westin & Sheraton Flex are all deeded. One thing to note, when I have gone in to some sales offices, there is often a plaque on the wall with someone's name and then "licensed real estate broker". I don't know that everyone in the office talking to a customer needs to be licensed. Perhaps just the closers that give you the numbers require a license?

You’d think it would be a good idea to get all the sales people regulated under real estate laws but I guess we aren’t there yet.

 

[Eric B]

Abound Trust Points, Westin & Sheraton Flex are all deeded. One thing to note, when I have gone in to some sales offices, there is often a plaque on the wall with someone's name and then "licensed real estate broker". I don't know that everyone in the office talking to a customer needs to be licensed. Perhaps just the closers that give you the numbers require a license?

That's pretty much how I figured things work re: the closers being licensed. There've been quite a few folks I've run into that didn't strike me as being licensed to do anything, though.

 

[Eric B]

You’d think it would be a good idea to get all the sales people regulated under real estate laws but I guess we aren’t there yet.

I'm not sure that's in any developers financial interest, so I doubt that will ever happen.

 

[cubigbird]

I'm not sure that's in any developers financial interest, so I doubt that will ever happen.

Well there are reasons NMLS, FINRA, the SEC and state securities administrators exist…..oversight might not be a bad idea here.

 

[vacationtime1]

Well there are reasons NMLS, FINRA, the SEC and state securities administrators exist…..oversight might not be a bad idea here.

This is also why ARDA exists -- to lobby against things that resort developers oppose. Think about that the next time you see the $5 checkoff box on your MF's.

 

[Eric B]

Well there are reasons NMLS, FINRA, the SEC and state securities administrators exist…..oversight might not be a bad idea here.

We're in violent agreement on that idea. Maybe ARDA-ROC will lobby for institution of oversight of timeshare sales on our behalf using all of the "voluntary" contributions they get via the resort MF billings....

I should probably stop holding my breath....

 

[Eric B]

This is also why ARDA exists -- to lobby against things that resort developers oppose. Think about that the next time you see the $5 checkoff box on your MF's.

For the record, I pushed post reply on mine before this one came up....

 

[sbgator90]

Long thread- but, my biggest takeaway was from the OP- I am always ready to get done with the "Owners Update" at about the 30 minute mark- now I know to just call out the next lie and get the guy to walk out. Hope I still get my gift

 

[gdrj]

It would be nice if they actually did updates. It could be group setting. Should take no more than 30 minutes.

 

[grrrah]

We know most MVC trust weeks are added to the Abound Exchange program immediately.

Does anyone know which (if any) MVC resorts are all or almost all trust/point weeks (vs. deeded weeks)? Just trying to build up more amo to call them out when they lie.

 

[dioxide45]

We know most MVC trust weeks are added to the Abound Exchange program immediately.

Does anyone know which (if any) MVC resorts are all or almost all trust/point weeks (vs. deeded weeks)? Just trying to build up more amo to call them out when they lie.

From what we know, All international properties are pure weeks or perhaps a form of Asia Pacific points. Custom House is not in the trust since it is not deeded ownership and is leased property from the city. About 75% of Crystal Shores is in the trust. A little over half of Oceana Palms is in the trust because the entire Sunset Tower was built after DC/Abound was conceived and thus added to the trust instead of sold as weeks. Kauai Lagoons Kalanipu'u is also mostly trust as very little was sold as residence and only a small number of weeks were ever sold there. Also, all of the Pulse properties except for Boston are in the trust. The other resorts are probably on the low end of percent of weeks (I would say under 10%) in the trust. Certain seasons at each resort may have different percentages. Think HHI Platinum, there are probably fewer of those in the trust than say Silver or Bronze weeks.