“We have received a surge of inquiries from consumers who have been contacted by a company that represents itself as R-5 Realty. R-5 Realty is not licensed by the real estate commission, said Mike Unthank, Superintendent of New Mexico Regulation and Licensing Department. “Timeshare fraud is a serious crime, which can cost consumers thousands of dollars.”
If you own a timeshare, please be advised to question any offers to help you sell it..."
Common lies are:
- Say they have buyers ready to purchase your timeshare — or promise to sell your timeshare within a specific time.
- Guarantee you’ll get big returns on the sale of your timeshare.
- Require you to pay fees upfront — even if there’s the promise of a “money-back guarantee”
- Say that you have "built up usage" or "free weeks" that can easily be converted into sales or rentals.
In New Mexico, getting paid for selling other people’s timeshares is an activity which requires a real estate license. If you receive a call from someone claiming to be a broker with an offer on your timeshare, you may check with the real estate commission to verify whether or not the caller is a licensed real estate broker at (800) 801-7505.