The Global Secondary Market Coalition (GSMC) was formed by leading vacation ownership trade associations to address concerns within the secondary market of the timeshare industry. While largely focused on questions of legitimacy, these concerns speak to a broader interest and investment in the overall health of the timeshare economy, which has struggled to develop a sustainable model for transitioning ownership from one generation to the next. The existence and support of a reliable, credible resale marketplace ensures the continued viability of resorts via active, participating owners and reinforces the value proposition of vacation ownership. Providing a structured framework for the development, maintenance, and self-regulation of that secondary market is the goal of the Global Secondary Market Coalition (GSMC).
Lack of robust support from the timeshare industry itself has led to a proliferation of bad operators, whose practices are oftentimes unethical, or even illegal, within the vacation ownership resale marketplace. To confront these bad operators, GSMC has developed a series of initiatives aimed at increasing the legitimacy of the timeshare industry’s secondary market.These initiatives include:
• Establishing best practices for timeshare resale
• Reviewing resale licensing requirements
• Creating an enforceable code of ethics
• Launching an accreditation process for resellers
• Protecting industry and consumer interests by serving as a watchdog
Through these programs, the GSMC seeks to foster a fair and equitable secondary marketplace for timeshare consumers and industry stakeholders alike, ensuring that vacation ownership remains a vibrant, rewarding experience for generations to come. For information on how to participate in the Global Secondary Market Coalition, please contact us at avoworldwide.com/connect