Introduction
RCI members should be aware of this common RCI member scam. Timeshare owners who own an RCI membership are excited about traveling to new and exciting places as part of their timeshare benefits. RCI boasts more than six thousand resorts in more than one hundred countries and members are eager to visit these locations whether they are in the mountains, in urban areas, on beaches or far into the woods. Members can enjoy a plethora of benefits to explore the world of timeshare exchanging.
However, the most common scam within the timeshare industry is when RCI members exchange their timeshare for another timeshare in a different location thinking that they are trading their old timeshare for another. This is never the case as we will explore here this RCI member scam..
The Invite
RCI members visiting resorts for exchanges often receive invitations to attend timeshare sales presentations, commonly known as RCI updates.
Members might be offered free gifts in exchange for their time for this “one hour” RCI update to learn more about what RCI has to offer their members. These invites will be from the resort’s marketing staff often called “concierges.” Some resorts require guests to visit these concierges if they want to obtain a towel for the pool or for other services. Somehow, some way, the resort has a strategy for all guests to meet the concierge staff.
Many RCI members are aware of these tactics and have no intention of purchasing another timeshare.
The Guest Survey: Getting Your Information
Once they agree to an “RCI update,” the resort often assigns them to a special sales team comprising the resort’s top closers. During the initial interview or survey, the salesperson will inquire about their ownership and, crucially, whether their timeshare is fully paid. They will try and identify any problems that guest is having with their current timeshare such as not getting the exchange that they want, or that the maintenance fees are too high. They must identify a problem to offer a solution to their program. This is a crucial stage of the scam.
The Resort Tour
Often, if the RCI member’s resort isn’t as appealing as the one they’re touring, they’re drawn to the new resort’s amenities, location, etc. In their mind, they know that the salesperson wants to make a sale, but they have no intention of buying another timeshare regardless as to how good the price is.
The Anytime Price vs The Today Price
At the end of the “one hour” sales presentation, the salesperson will show the anytime price vs the today price. However, today’s price will also seem remarkably high. Most timeshare exchangers reject the initial today price offer because they lack interest in acquiring another timeshare.
For example, if the anytime price is $80K and the today price is $40K, the RCI member still does not want to purchase another timeshare and pay two maintenance fees. So, at this point, they believe that the timeshare sales presentation is over. No, it is just beginning.
How The RCI Exchange Scam Works
Knowing that the potential client is very much attracted to their resort but resistant towards purchasing another timeshare, they will take the today price in exchange for their timeshare. Here is how it works.
If the today price for most clients is $40K, they may offer the client $25K for their timeshare in exchange for the new one. Now, the today price is only $15K thinking that it is worth the original $80K and above the regular today price of $40K. This is how the scam is made. The reality is that the $15K is the same price that anyone who purchases that same day will get regardless of whether they have a trade in or not. More surprisingly, the bottom line for that same timeshare for anyone who purchases that same day could be as little as $10K.
Prevent Being Scammed
First – do not attend any of the sales presentations offered by the resort, especially when they state that it is an RCI update.
Secondly, if genuinely interested in purchasing another timeshare, inquire about the bottom-line price, as the average timeshare owner owns three timeshares. Then, go online at that time to see what you can purchase that same timeshare for on the resale market. If they can match that price, tell them that you are in. Chances are they will send you away and the presentation is over.
Thirdly, if you turn down the offer and decide to keep your timeshare without the trade, the resort will still give you the $15K offer.
Conclusion
Don’t fall victim to this common RCI member scam. Understand that no timeshare company will offer you anything for your timeshare regardless of where you own and how much you paid. Sometimes they may sell or give away the old timeshare to a broker who may be able to profit from it.
However, if they manage to offload the old timeshare, you might find yourself with two timeshares and two maintenance fees, with no escape due to signed documents perpetually in their favor.