CHARLOTTE — The attorney general of Florida is suing MV Realty, which operates in more than 30 states. It’s based in Florida and the attorney general there said the company broke consumer protection laws.
Under what MV Realty calls the “Homeowner Benefit Program,” the company will give you up to $5,000. All you have to do is sign its contract saying that if you sell your home, you have to use MV Realty for the next 40 years. If you hire another real estate agent in those four decades, you have to pay MV Realty a penalty of 3% of the value of your house.
The Florida attorney general’s lawsuit is asking the court to block MV Realty from enforcing these kinds of contracts. The suit accuses the company of using a “complex and deceptive scheme” with the “goal of swindling consumers.”
Action 9′s Jason Stoogenke and other consumer reporters across have the country have been working together to look into the business. Stoogenke found how many homeowners in the Charlotte area signed homeowner benefit agreements with MV Realty.
For example, more than 300 had signed in Mecklenburg County, 85 in Gaston County, 88 in York County and 33 in Lancaster County.
MV Realty emailed a statement about the Florida lawsuit saying:
“The Florida Attorney General issued a press release stating she filed a complaint against MV Realty. Our attorney is reviewing the complaint. MV Realty has helped more than 30,000 satisfied clients across the country and in Florida through our Homeowner Benefit Program. Our company is proud to employ hundreds of locally licensed real estate agents, including many in Florida. MV Realty has always been committed to transparency in all of our business transactions, and we are confident that any inquiry will confirm that our team has operated in full compliance with the law.”
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