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Membership Terms

1. General Rules and Guidelines for Membership Application

The member hereby acknowledges that his/her signature on this agreement is their acceptance to follow all guidelines set forth in the sections that follow. 

Applicants must complete all information required on the Membership Application form provided on the www.licensedtimeshareresalebrokers.org website.
 

  1. Applicants must provide complete and current details of their brokerage relationship regarding state licensing of the corporation, managing brokers, and agents, to verify that the company is a going concern engaged, at least in part, with the listing and selling of interval ownerships, such as timeshare, fractionals, and related products. This licensing information can be sent via fax (219-225-9054), or by providing a web link from your state regulatory agencies.

  2. Applicant shall supply a current copy of Real Estate License, at time of application for membership for verification.

  3. Applicants that are agents agree to supply a copy of principal or managing broker’s license at time of application or at any time when brokerage affiliation changes.

  4. All Applicants must be sponsored by an active member in good standing.

  5. The burden of proof of compliance is on the Applicant/Member, and non-conformance with membership criteria and Bylaws of the LTRBA is grounds for suspension or termination of membership status or denial of membership.

  6. Majority approval by the Membership committee is required for acceptance. In the event of a tie, the president will determine the outcome.

  7. All LTRBA Members must agree to be bound by the Code of Ethics and Standards of Practice of the National Association of Realtors.

2. General Rules and Business Guidelines for Members

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  •  The general business model of LTRBA members is traditional listing and selling of timeshare intervals, with performance-based fees, in the form of commission at time of close. This traditional business model must conform, and be in compliance with state regulations.

  •  Member agrees to notify the membership committee within 30 days of any license status change, real estate commission investigation, or change in association with brokerage, etc.

  •  Advance fees, upfront fees, advertising fees, or listing fees of any type, are prohibited.

  •  Listing Agreements are encouraged, whether exclusive or non-exclusive, but are not always practical due to the nature of this industry and available sources of inventory. In either case, it is the responsibility of the broker/agent, and not the LTRBA, to remain in compliance to state and local real estate laws.

  •  Members should not advertise properties that they do not have in their inventory or expressed permission from seller. If a listing is sold it should be removed from advertising sites. Leader ads should not be advertised by our members. Leader ads are construed to be ads that are not real listings, and used for the sole purpose of generating buyer activity.

  •  Members should make all reasonable efforts to refer sellers to other members that have resort specialties or regional expertise that you are not familiar with. This goodwill not only helps the seller (and fellow member), but also minimizes their risk of falling into the hands of relief companies.

  •  All inventory made available for sale by LTRBA members requires full disclosure (e.g. a listing agreement or a deed) from the listing/providing member as to the source of the inventory. This allows fellow members to determine if the liability for (potentially) fraudulent conveyances of deeds, especially deeds conveyed by Power of Attorney (POA) and questionable origin, is commensurate with the commission to be earned. LTRBA strongly discourages the use of assignable contracts for sale or purchase of inventory, unless full name of sellers and full name of buyers is disclosed at the point of contract.

  •  Members with complaints against other members are required to file these with the Ethics committee for resolution.

  •  The burden of proof of compliance is on the applicant/member with regards to information provided to the LTRBA. Any non-conformance with LTRBA membership criteria is subject to suspension or termination of membership status, with the final determination a decision of the LTRBA BOD.

3. Membership Fee’s & Dues
 

$250 per applicant per year

 4. Confidentiality Agreement Clause
 

Member hereby agrees that all electronic correspondence sent to the LTRBA group membership is considered to be strictly confidential, and that any correspondence of and between the LTRBA membership shall not be disseminated, re-transmitted, or forwarded, in whole or in part, to any person or entity who is not a current member of LTRBA.

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