North Carolina’s Attorney General is suing a real estate brokerage accused of breaking state law and pressuring homeowners into deceptive agreements regarding their property.
Attorney General Josh Stein filed the lawsuit against Florida-based MV Realty in Wake County on Tuesday, alleging the brokerage is “preying on vulnerable people to trick them into unfair, long-term agreements”. Stein’s statement, shared Tuesday, claimed the brokerage tricked homeowners into signing exclusive 40-year real estate agreements that require homeowners to use MV Realty to list their property for sale but did not share with homeowners that those agreements persist even after the homeowner’s death.
According to Stein’s statement, MV Realty set up shop in North Carolina in August 2020, and since then signed up more than 2,100 homeowners in the state for its “Homeowner Benefit Program”, with more than 32,000 homeowners signed up across the country. Stein alleges the brokerage targets homeowners facing financial hardships with robocalls, internet ads, and texts by claiming they will pay homeowners a small upfront cash payment with “no strings attached” if the homeowner agrees to use MV Realty as their listing agent if they sell their home.
Alexander County Register of Deeds, Scott Hines said Wednesday that his office has records of seven transactions that list MV Realty of North Carolina LLC as the listing agent..