Timeshare Resale and Rental Marketing
R-5 RealtyFind BBB Accredited Businesses in Timeshare Resale and Rental Marketing.
Information and Alerts
Alert Details
This business has 2 alerts.
Licensing
BBB confirmed that R-5 Realty had not obtained a necessary license from New Mexico Real Estate Commission . BBB encourages you to contact the following agency or agencies to confirm this information: - http://www.rld.state.nm.us/boards/Real_Estate_Commission.aspx - (505) 222-9820
Alert
BBB Serving New Mexico and Southwest Colorado has been unable to find a real estate license for this business issued by the New Mexico Regulation & Licensing Department - Real Estate Commission.
On April 4, 2018, BBB contacted R-5 Realty via e-mail and US Postal Mail to ask for their real estate license. BBB further asked for a true and correct physical address for the company, and a better description of the exact services they provide, including copies of their contracts, forms or documents used in the normal course of business. The reported business address of 600 Central Ave SW, is a multi-story building with retail shops on the ground level and residential spaces on the upper two floors.
BBB received return mail from the physical address on Central Ave SW and to date, the business has failed to respond to BBB's e-mailed requests for information.
Consumers have reported this business refers them to a third party escrow company, Escrow Management, Inc, with an address of 102 S Tejon St, Ste 900 in Colorado Springs, Colorado. A separate BBB Business Profile issued by BBB Serving Southern Colorado is available for consumers by clicking here.
The New Mexico Regulation & Licensing Department - Real Estate Commission has issued an ALERT on this business, warning consumers against contracting with this business.
Important Information
Additional Info
If you own a timeshare, remember to question any offers to help you sell it. Be skeptical of companies that:
-Claim the market in your area is "hot" and that they're "overwhelmed" with buyer requests
-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"
-Don't provide a contract
-Be wary of companies that mail, cold-call, cold-text, or email you out of the blue
-Before you do business with a company you don't know, check bbb.org for complaints and customer reviews
-When purchasing or selling a timeshare, work with licensed real estate brokers or agents and consider doing business only with someone who gets paid after the timeshare is sold
-Get all terms in writing before you agree to anything, and thoroughly read the agreement including any fine print
-Watch out for high-pressure sales tactics and companies that can't, or won't, give you specifics
-If you are considering purchasing a timeshare in another country, use caution--if you sign a purchase contract in another country, you will not be protected by U.S. laws
-Beware of companies that use robocalling - robocalls from companies are illegal if you
haven't given a company permission to call you; even if you haven't signed up for the Do
Not Call Registry
-Avoid companies that request upfront fees before providing services; request that you pay cash or by wire transfer; advise you that you do not need to read or understand the agreement; request that you provide personal or financial information over the telephone or internet; refuse to meet with you in person; make unqualified guarantees that they can get your timeshare sold; or advise you that you can simply "walk away" from a timeshare by transferring it to some third party.
If You've Been Scammed BBB encourages consumers to report their experiences. There are a number of organizations consumers can contact:
Consumers may file a complaint with the Better Business Bureau at www.bbb.org, the Federal Trade Commission www.ftc.gov, the Internet Crimes Complaint Center www.ic3.gov, the New Mexico Attorney General www.nmag.gov, and with their state's Attorney General.
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