Diamond applauds new state law to boost timeshare
Diamond Resorts has applauded North Carolina lawmakers for unanimously passing the North Carolina Senate Bill 590, which covers real estate licensing for timeshare sales.
The new legislation will expand vacation ownership and fractional ownership options for travellers looking to experience the increasingly popular tourist markets of North Carolina, while simultaneously bringing incremental jobs to the state.
In partnership with the North Carolina Real Estate Commission (NCREC), Diamond Resorts advocated for the new real estate licensing law for timeshare sales. The new law modifies the real estate licensing requirements for timeshare salespeople. Formerly, all timeshare sales professionals were required to obtain a North Carolina real estate brokerage license.
Under the new law, timeshare sales executives who are working for a developer, or an affiliate of the developer, and selling developer-owned inventory no longer need to be licensed. The bill passed the North Carolina Senate 45-0, as well as the North Carolina House on a vote with 107-0, showing bipartisan support and zero opposition. Governor Roy Cooper signed it into law on 9 August 2019.
Mike Flaskey, CEO of Diamond Resorts, said: “As tourism in North Carolina continues to grow, we wanted to make sure that our members have the best options for vacation ownership in what has become a hugely popular destination for many families.
“We’re incredibly pleased to have partnered on this bill and to see it passed without opposition. We plan to invest heavily in what we see as a growing tourism destination in North Carolina, with a variety of vacation options, including the Great Smoky Mountains and best in class beach destinations.”
Diamond’s current vacation ownership properties in North Carolina include Beachwoods Resort in Kitty Hawk and Fairway Forest Resort in Sapphire Valley.
Jeff Malarney, chairman of the NCREC, said: “This bill originally opened up some opportunities to expand real estate education.
“The NCREC was pleased to be able to collaborate with Diamond Resorts to introduce legislation that brings timeshare sales in line with vacation rental and property management employees. It’s a win for the tourism industry in North Carolina.”
With this legislation, Diamond Resorts will expand its search for talented team members, continuing to grow the company’s footprint in North Carolina.
“The economic impact to North Carolina from this legislation being passed will be monumental,” added Flaskey.
“This forward thinking is not only a win for North Carolina, but also the entire vacation ownership and fractional ownership industries. We look forward to continuing to contribute to the local economies where our members have unforgettable vacation experiences.”
For more information about Diamond Resorts, visit DiamondResorts.com