- Joined
- Aug 21, 2005
- Messages
- 16,814
- Reaction score
- 9,466
- Location
- Palm Springs of Washinton
- Resorts Owned
- Worldmark * * Villa Del Palmar UVCI * * Vacation Internationale*
I am thinking about adding to my timeshare inventory to rent, buy and sell. I contacted five different state licensing offices for timeshare sales and asked what are the requirements to sell and rent these. What I was told by everyone is that if I own these I do not need to be a licensed broker. If I solicit to buy, sell or rent other peoples property then I need to be a licensed broker. So by using my own inventory I don't need to be a broker.
If I advertise anywhere, even on the internet, I have to state on the advertisement that these are for sale or rent by owner or include my license number. On Creigslist I very seldom see anyone advertising this way. Looking at other peoples internet sites at tug I see everything from owners using their own inventory, brokers using all kinds of inventory to private people acting as brokers using all kinds of inventory.
I am assuming that if a license number isn't included on an internet page that the entity isn't licensed. Also I am assuming that if there is no license number on the web page and they offer broker services that they are doing so illegally.
http://www.insidethegate.com/about-timeshare/license-requirements/
I did ask these officials about the consequences of acting as an unlicensed broker. It looks like a fine and possible jail time at the state level and the posibility of lawsuites from either the buyer, seller or renter.
So what am I missing ? It is a good time to buy and I do have an exit stratagy should it not work out.
Thanks
Bill
If I advertise anywhere, even on the internet, I have to state on the advertisement that these are for sale or rent by owner or include my license number. On Creigslist I very seldom see anyone advertising this way. Looking at other peoples internet sites at tug I see everything from owners using their own inventory, brokers using all kinds of inventory to private people acting as brokers using all kinds of inventory.
I am assuming that if a license number isn't included on an internet page that the entity isn't licensed. Also I am assuming that if there is no license number on the web page and they offer broker services that they are doing so illegally.
http://www.insidethegate.com/about-timeshare/license-requirements/
I did ask these officials about the consequences of acting as an unlicensed broker. It looks like a fine and possible jail time at the state level and the posibility of lawsuites from either the buyer, seller or renter.
So what am I missing ? It is a good time to buy and I do have an exit stratagy should it not work out.
Thanks
Bill