Bluegreen was actually founded in 1966 as a land development company. In 1986 the company was listed on the New York Stock Exchange and in 1991 it was relocated to Boca Raton, FL.
Bluegreen developed its first timeshare resort in the Great Smoky Mountains in 1994. Other resorts soon followed. Bluegreen focused its land development operations on master-planned communities and developed its first daily-fee golf course in 1996.
In 1997 Bluegreen acquired RDI Group, a privately held vacation ownership developer and operator with resorts in Florida and Wisconsin, as well as management contracts with other resorts in the southeastern U.S. With this acquisition, Bluegreen became one of the largest property managers of vacation ownership resorts in the U.S., and the Bluegreen Vacation Club was born.
In 2013, Bluegreen Corporation became a wholly owned subsidiary of BFC Financial Corporation.
How they do business
Let’s look at how Bluegreen does business. I dare say that anyone who is in a Bluegreen presentation knows why they’re there. In their mind it may be because they want an inexpensive short vacation and that was all. However, the reality is that they knew they would be presented with an opportunity to spend some hard earned cash. They should also know that the sales person they are talking to depends on a sale to put food on their table, just like any other commissioned sales person.
We didn’t buy all of our points at one time. We actually have 5 different contracts from 3 different resorts and 4 different sales people. From experience, I can tell you that their contract is well put together. If you finally say “yes, let’s do it”, you will wind up with 15 to 20 pages of contracts. Remember, you’re actually buying a piece of property that will be deeded over to you. That’s a lot of print to digest so as in any situation like this, stay alert and pay attention. If you don’t understand something, ask again.
Then comes the review
Once you and the sales person have reached an agreement, you’re half way there. The contract department spends the next 20 minutes preparing the contract while you continue small talk with your sales person. Eventually you will be summoned to a small office where you will meet another person. Everything from this point on is recorded. At this point, with your sales person present, you will go over every sheet of the contract one at a time and sign it. You will also go over a 1 to 2 page sign off sheet where you verbally agree that you understand everything that is and was presented to you. Remember, I’ve done this 5 times and it’s always the same. When you are done and everything is signed and witnessed, you’ll get a copy of every sheet in a nice white Bluegreen folder.
So why do people say it’s a scam?
: a dishonest way to make money by deceiving people; a fraudulent or deceptive act or operation <an insurance scam>
That’s the dictionary definition of a scam. Personally, I don’t think it applies. Bluegreen goes out of their way to make the process clear. By the time you are through you may have spent 3 hours on what was to be a 90 minute ordeal. Your contract states exactly what the agreement was.