Brokerage Consolidation Group, Inc.
August 28, 2015An Aimfair Member asked the following question on the Owners Forum this morning: "Anyone heard of this outfit?"
Fascinating! We received a call this morning from someone at the same company. The answer is...Yes, we have heard of this company. Very questionnable, to say the least!!
Here is what we found:
- The address given in correspondence and on the website is a Virual Office. This means you cannot use the certified mail test unless you address the parcel to a specific person and for his or her signature only.
- One of the receptionists did recognize the name of Brokerage Consolidation Group, Inc. but could not confirm that the company actually rents physical space.
- The primary lessor of the space at the given address is Davinci Virtual Affiliates. Their website is http://www.davincivirtual.com/davinci-virtual-affiliates The representative said I would have to present a subpoena to learn whether or not Brokerage Consolidation Group, Inc. maintains a physical office at one of their locations. Yes they are protecting their clients, but….First time that has happened.
- There is an alert for the company issued by the Better Business Bureau - Minneapolis, MO.
BBB is currently trying to learn more about this entity. We've received a report from a consumer saying they were contacted by Brokerage Consolidation Group Inc. about their resort property. The consumer states they were told they would have to send money to Mexico to close the deal, which is a common sign of a timeshare scam.
Over the last two years, many companies claiming to be located in the Midwest and purporting to offer timeshare reselling services have proved to be fraudulent foreign entities with no local presence.
People who are hoping to sell timeshare properties should be aware that requests to pay money upfront are usually the sign of a fraudulent operation. BBB offers these tips to those seeking to sell their timeshares:
Though Brokerage Consolidation Group Inc's filing with the Minnesota Secretary of State's (SOS) Office is current, BBB has concerns this is a situation where an unknown entity has assumed the name of a previously operating but now defunct Minnesota business.
- Be realistic. In regard to timeshares, it's generally a buyer's - not a seller's - market. Unscrupulous timeshare resellers may contact you claiming that your property is in demand and they can sell it immediately; unfortunately, these promises often prove to be false.
- Be Wary of Upfront Fees - Remember, unless it's negotiated into the purchase agreement, only buyers pay closing costs. Consider opting for a company that offers to sell for a fee only after the timeshare is sold. Many complaints to BBB regarding timeshare resellers involve situations where people were told they needed to wire "advance appraisal fees," escrow funds or that they just had to pay closing costs and their timeshare would be sold. Never wire money to people you don't know.
- Use a Business You can Trust - Make sure the timeshare reseller you use is a BBB Accredited Business or at the very least has a good rating with BBB. You can research businesses for free at bbb.org.
- Confirm Licensing Requirements - Some timeshare resellers will use fake addresses or PO boxes in order to mislead timeshare owners. Confirm where the company is located and in what states it does business. Ask if the company's salespeople are licensed to sell real estate where your timeshare is located. If so, verify this with the state licensing board.
- Get the Facts on the Figures - Find out if the business charges a commission. Do they handle the entire closing and provide escrow services? Do they charge an up-front listing or advertising fee? What does it cover and is it refundable?
- Don't Fall for the Hard Sell or an Offer that Sounds Too Good to Be True - Don't agree to anything over the phone but instead ask the salesperson to send you written materials; take the time to think it over and don't be pressured. You may want to have an attorney review any purchase agreement.
- Watch out for third-party companies. Fraudulent timeshare reselling entities often associate with alleged third-party title or escrow services. Be sure to research those companies as well. If you can't find any information on them, that might be a sign there's a problem.
Brokerage Consolidation Group Inc. was originally registered with the MN Secretary of State's Office in 2007. In 2009, according to the MN SOS website, the company was dissolved. Then in May of this year (2015), the MN SOS filing for Brokerage Consolidation Group Inc. was reinstated.
BBB file opened: 06/30/2015
Principal: Patricia Ann Cheney (CEO)
Business Category: Timeshare Resale and Rental Marketing
- See more at:
Yes, the company is listed in with the Secretary of State. However, Principal Executive Office Address is not the one listed on the company website. Also, chances are you would not be able to talk with the person who is listed as the CEO, since she is likely the one who dissolved the company in 2009.
Secretary of State - Minnesotta Records:
|Minnesota Business Name||Brokerage Consolidation Group, Inc.|
|Business Type||Business Corporation (Domestic)|
|Status||Active / In Good Standing|
|Renewal Due Date||12/31/2016|
|Registered Office Address||333 Washington Avenue North Suite 300, Minneapolis, MN 55401 USA|
|Number of Shares||500,000,000|
|Registered Agent(s)||Patricia Cheney|
|Principal Executive Office Address||80 S 8th St, Minneapolis, MN 55402 USA|
|Chief Executive Officer||Patricia Ann Cheney - 80 S 8th St., Minneapolis, MN 55402 USA|
Filing History - Renewal History (Filing and Effective Dates)
- 07/13/2007 Original Filing - Business Corporation (Domestic)
- 07/13/2007 Business Corporation (Domestic) Business Name
- 07/18/2007 Business Corporation (Domestic) Business Name
- 01/07/2009 Administrative Dissolution - Business Corporation (Domestic)
- 5/26/2015 Annual Reinstatement - Business Corporation (Domestic)
- 7/2/2015 Registered Office and/or Agent - Business Corporation (Domestic)
No, this entity and offering does not pass the smell test. Be very careful if you do proceed. Do not make any advance payments what so ever!
- Send a certified letter to the specific person who called you at the address listed on his correspondence or the website, and
- Look closesly at the Secretary of State's records.
- Make sure the company and representatives are licensed to do business in your state.