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ConsumerAlertRegardingTimeshareResaleScams
IllinoisDepartmentofFinancialandProfessionalRegulation
DivisionofRealEstate
Purposeofalert:
TheIllinoisDivisionofRealEstate(television)isissuingthisalertbecauseofagrowingnumberof
scamsbeingperpetratedagainsttimeshareowners.
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How to Fill Out Most Common Types of Resale Scams and How to Spot Them:
Understand the common types of resale scams:
01
Research and learn about common types of resale scams, such as ticket scams, rental scams, and counterfeit product scams.
02
Familiarize yourself with the tactics scammers use to deceive and defraud consumers.
Verify the legitimacy of the resale platform or seller:
01
Before making any purchases, check the reputation and reviews of the resale platform or seller.
02
Look for trusted and verified platforms or sellers with positive feedback and a history of reliable transactions.
Use secure payment methods:
01
Whenever possible, use secure payment methods, such as credit cards or PayPal, that offer buyer protection.
02
Avoid making payments through unconventional methods like wire transfers or gift cards, as these are often preferred by scammers.
Be cautious of overly attractive deals or prices:
01
If a deal seems too good to be true, it probably is.
02
Scammers often lure victims by offering prices significantly lower than market value to attract impulsive buyers.
Request additional information and proof:
01
When dealing with a resale listing, ask the seller for additional information and evidence of the item's authenticity, such as receipts, serial numbers, or certificates of authenticity.
02
Legitimate sellers will usually provide this information promptly and willingly.
Who Needs Most Common Types of Resale Scams and How to Spot Them:
Consumers interested in buying secondhand goods:
01
Anyone looking to purchase used products, tickets, or services should be aware of common resale scams.
02
By educating themselves on how to spot scams, they can protect themselves from falling victim to fraudulent schemes.
Individuals planning to sell their own items:
01
Sellers need to be cautious of potential buyers who might engage in scamming tactics.
02
Understanding how scams work can help sellers identify warning signs and protect themselves throughout the selling process.
Service providers in the resale industry:
01
Professionals working in the resale industry, such as auction houses, online platforms, or consignment shops, should have a solid understanding of common scams.
02
Being aware of different scam techniques can help them protect their clients and ensure a safe and reliable marketplace.
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