Timeshare Phone Scams
Unfortunately – seniors seem to be the worst targets
Unfortunately, it is proven that when it comes to the elderly, they are just more susceptible to scams via the telephone. People who are naïve and do not have the correct “knowledge” to deal with a subject can become victims of phone scammers as well.
Most companies wanting to re-sell your time share choose to market or solicit timeshare owners via the phone, although some do use the internet and often both. Seniors are less likely to have access to the internet; making them more vulnerable to the telemarketing resale scams.
Most companies wanting to re-sell your time share choose to market or solicit timeshare owners via the phone, although some do use the internet and often both. Seniors are less likely to have access to the internet; making them more vulnerable to the telemarketing resale scams.
That is why we want to reveal one special technique that a telemarketing re-sale company might use. If you have friends or family that fit in this category and happen to own a timeshare, we hope you will want to share this informational resource with them.
When a telemarketer who is calling, hoping to solicit a time share owner to “list” their time for sale, connects with a senior adult their radar perks up. The reason for this is that during their experience the savvy telemarketer has learned that an elderly person makes an easier target.
A test given by the American Psychological Association (APA) reveals that “older adult are 10 times more likely to remember false information — and believe it's true — than younger adults.” The test also revealed that seniors often did not want to admit to “not knowing”. Their conclusion was; “this combination of not remembering correctly and being unwilling to admit there’s a problem can make older adults especially vulnerable to scam artists.”
Coupled with a lack of knowledge regarding the timeshare resale market, you can see why they can become scam victims. Click here to read the full article, why older adults are more vulnerable to scams and to get some general tips to protect yourself or loved one.
When it comes to the resale companies most people including seniors, want to believe they are talking with an “expert” so naturally they are trusting of the caller. This leaves a person at a great disadvantage and more vulnerable to the “confidence game”. Salespeople realize this and so they will use their targeted telemarketing “spiels” to do just that, build confidence.
First, let us say that not everyone can tell your age by your voice, so companies have leading questions to “bait” their contacts into revealing the facts they need to make the “sell”. These questions will often reveal to them your age and specific situation. Gathering this information they can use it to push or guide, depending on their technique, into the responses they are looking for to get you to “buy or list” with their company.
When a telemarketer who is calling, hoping to solicit a time share owner to “list” their time for sale, connects with a senior adult their radar perks up. The reason for this is that during their experience the savvy telemarketer has learned that an elderly person makes an easier target.
A test given by the American Psychological Association (APA) reveals that “older adult are 10 times more likely to remember false information — and believe it's true — than younger adults.” The test also revealed that seniors often did not want to admit to “not knowing”. Their conclusion was; “this combination of not remembering correctly and being unwilling to admit there’s a problem can make older adults especially vulnerable to scam artists.”
Coupled with a lack of knowledge regarding the timeshare resale market, you can see why they can become scam victims. Click here to read the full article, why older adults are more vulnerable to scams and to get some general tips to protect yourself or loved one.
When it comes to the resale companies most people including seniors, want to believe they are talking with an “expert” so naturally they are trusting of the caller. This leaves a person at a great disadvantage and more vulnerable to the “confidence game”. Salespeople realize this and so they will use their targeted telemarketing “spiels” to do just that, build confidence.
First, let us say that not everyone can tell your age by your voice, so companies have leading questions to “bait” their contacts into revealing the facts they need to make the “sell”. These questions will often reveal to them your age and specific situation. Gathering this information they can use it to push or guide, depending on their technique, into the responses they are looking for to get you to “buy or list” with their company.
A telemarketing scenario might go something like this:
“Are you the decision maker or do you need to talk with your significant other?” They will ask, “Do you use your timeshare much or do your children or family use it more?” Either response will tell them how to approach the “sale.” “Well, Mr. or Mrs. Smith, you know you're sitting on $15-20,000.00 while having to pay the maintenance fees every year. Our company can rent your timeshare, the rental fee can pay for your maintenance fees, or we can sell your timeshare and you can do whatever you want with the money. There is just a one-time fee to market your unit.”
To the unsuspecting time share owner this sounds great and this is usually when an older or more naïve owner will take the bait, giving them the up-front fees they are requesting. This is where you must understand what they are really promising. Let us tell you why this promise is simply unrealistic.
Renting or selling a time-share for a profit is usually just not possible.
Keep in mind that the sales person has just given a timeshare value to the person on the phone. This is where they have started to gain a persons confidence, because people want to believe they are talking with someone who has the correct knowledge. However, the truth is that the salesperson does not know the value of yours or anyone else’s time share and they can not guarantee prices.
The sad truth of the matter is that most of these telemarketing resale companies are nothing but boiler rooms. Their sales people are given call lists of timeshare owners that they have purchased and several different scripts to work from. The scripts are given to help the sales person target different types of time share owners and how to approach them to gain their confidence. The telemarketers are paid a commission and usually they will quote fees from several hundred to thousands of dollars for the sale. If you own more than one timeshare they use that to justify collecting more.
The people who work for a telemarketing timeshare resale company are licensed through the company they work for and they must sign a non-disclosure agreement. All this means is that the company is regulated by the state regarding the wording in a “resale agreement” not the services they provide.
This type of telemarketing timeshare resale industry is very common and the sad fact is that it is a market that is virtually unregulated. Victims of this type of phone schemes have usually been taken for hundreds to thousands of dollars with no success and left with very little recourse for a refund. The elderly have become victims that especially get targeted by these time share phone scams, sometimes more than once! Unfortunately, some have ended up paying again and again to different companies hoping that the next time will be different and they will have better luck selling or renting.
The sad truth of the matter is that most of these telemarketing resale companies are nothing but boiler rooms. Their sales people are given call lists of timeshare owners that they have purchased and several different scripts to work from. The scripts are given to help the sales person target different types of time share owners and how to approach them to gain their confidence. The telemarketers are paid a commission and usually they will quote fees from several hundred to thousands of dollars for the sale. If you own more than one timeshare they use that to justify collecting more.
The people who work for a telemarketing timeshare resale company are licensed through the company they work for and they must sign a non-disclosure agreement. All this means is that the company is regulated by the state regarding the wording in a “resale agreement” not the services they provide.
This type of telemarketing timeshare resale industry is very common and the sad fact is that it is a market that is virtually unregulated. Victims of this type of phone schemes have usually been taken for hundreds to thousands of dollars with no success and left with very little recourse for a refund. The elderly have become victims that especially get targeted by these time share phone scams, sometimes more than once! Unfortunately, some have ended up paying again and again to different companies hoping that the next time will be different and they will have better luck selling or renting.
If you have been a victim of a timeshare resale company you may want to become a member of our timeshare-resale-scams.
Remember learning how things really work changes your chances of becoming a victim of these types of phone sales pitches. Click re-selling scam alerts for more information.
Remember learning how things really work changes your chances of becoming a victim of these types of phone sales pitches. Click re-selling scam alerts for more information.
To protect yourself from becoming a victim you can do the following:
- Check out a company first before you agree to anything.
- Make sure you get things in writing before you agree to anything.
- Then read it carefully and make sure you understand what they are promising.
- Don’t let them hurry you into making a decision.
- You can learn What to Say! Senior & Telemarketing Fraud 101 by the National Crime Prevention Council – PDF File download
- Learn more about timeshare resales.
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About Timeshare Resales
Avoid Resale Scams
Beware of Schemes & Scams
Contact Us
Testimonials
The Truth About Timeshare Values
Truth vs. Myths
Report A Scam
Scam Busters