FOR IMMEDIATE RELEASE:
UPDATE: Timeshare Resale Accountability Act Passes House
Tampa, Florida – February 10, 2012:
Last week we reported on the Timeshare Resale Accountability Act, a bill proposed in October 2011 that protects timeshare sellers with a number of provisions to guard against timeshare scams and deceptive practices by timeshare resale companies.
Today, February 9, 2012, we’re happy to announce the passage of this progressive bill – with important amendments in place to separate licensed timeshare resale brokers from upfront fee ad sites and other unsavory timeshare resellers.
The amended transcript of the provision changed the “definition of a “resale service provider” to specifically exclude from the definition, a resale broker that offers resale advertising services in connection with resale brokerage services, so long as the resale broker collects no fee for the advertising service in advance.”
The bill also guards against unlicensed brokers taking on the role of timeshare brokerage by placing “specific limitations on the actions of resale brokerage activities. Specifically, a resale service provider may not provide brokering services unless validly licensed to do so…”
Finally, the bill provides that “the use of any unfair or deceptive practice by any person in connection with resale advertising services is a violation of s. 721.205, F.S., and that any violation of the section is subject to a civil penalty of not more than $15,000 per violation.”
The passage of this bill, with recent amendments, further legitimizes the importance of selecting only licensed timeshare resale brokers to sell your timeshare. The bill has an effective date of July 1, 2012.
If you have any questions about the Timeshare Resale Accountability Act, or if you’re looking for a licensed timeshare resale broker to sell your timeshare, please contact us today!
About Timeshare Broker Sales
Timeshare Broker Sales is a timeshare resale company that has assembled a group of dedicated timeshare experts with more than two decades of timeshare industry experience. All of our agents are licensed REALTORS® and timeshare experts, committed to giving our clients the highest level of value and service. Our experts help timeshare owners sell timeshare with No Upfront Fees, as well as help buyers purchase the perfect timeshare resale at deep discounts.