Media Contact: Sandi Copes/
Phone: (850) 245-0150
Timeshare Resale Business Agrees
to Pay Consumer Refunds,
Modify Marketing Practices
TALLAHASSEE, FL – Attorney General Bill McCollum today announced that his Economic Crimes Division has negotiated a settlement with a timeshare resale business resolving issues with the company’s advertising business and telephone solicitation practices. Altamonte Springs-based Equity Marketing Corporation, which operates under the name Resort Equity Marketing (REM), must pay more than $50,000 to affected consumers and has agreed to modify its marketing practices to comply with state guidelines.
“Timeshare resale businesses are often mistaken for real estate brokers when they are simply providing an advertisement service to promote the sale of a consumer’s timeshare. Unfortunately, many consumers misunderstand and do not receive the services they believed they have paid for,” said Attorney General McCollum.
According to more than 100 consumer complaints received on REM, the company was using telemarketing pitches to obtain clients for its timeshare resale advertising business. In its telemarketing sales pitch, the company told consumers that if their timeshare unit didn’t sell within 180 days they would receive two 'free' airlines tickets to one of several predetermined locations. The company allegedly failed to advise consumers that there were very restrictive terms and conditions associated with the use of the vouchers, including additional fees or required stays at specific hotels at very high rates. Some consumers complained that they did not receive the tickets, and those who did receive them claimed the terms and conditions were not disclosed.
As part of the settlement agreement, the company will modify its practices to fully comply with the Florida Deceptive and Unfair Trade Practices Act and the Florida Telemarketing Act. REM has also agreed to honor timely cancellations requested by consumers and will provide improved customer service responses and refunds. In addition to refunding more than $50,000 to consumers, the company will reimburse the state $45,000 for the cost of the investigation.