MV Realty, the real estate company that pays you as low as $300 for the exclusive right to sell your home for 40 years, is facing more legal action.
Ron Glenn is one of hundreds of Washington consumers who have signed deals with MV Realty. His mother, Betty Weidenhoft, says her son was very sick when he signed the contract,
“I don’t mind paying something that’s honest and above board, but I don’t like to be taken advantage of. And I feel they’re taking advantage big,” said Weidenhoft.
Ron died four months later. Betty says she didn’t know about the MV Realty deal when she got another agent to sell her son’s home. That went against the contract so she was forced to pay MV Realty a 3% charge that turned out to be $23k.
“I want somebody to wring their neck. I really do,” says Weidenhoft.
Attorney Generals in 6 states have filed suit against MV Realty. 16 States have passed legislation either limiting or ending these kinds of contracts. After a KIRO 7 Investigation, the Washington State Attorney General passed a law limiting these contracts to just 5 years.
The company has temporarily paused using its Homeowner Benefit Agreements. But what about those who still have those deals? That’s why members of Congress are stepping in.
Three U.S. Senate Committee Chairmen sent MV Reality a letter stating, that although MV Realty has suspended new enrollments, it continues to advertise. Senators said they are concerned about homeowners already enrolled and the potential for future harm.
Ohio Democratic Sen. Sherrod Brown said it’s clear MV Realty violated the law. Sen. Brown’s timing is noteworthy because Florida Attorney General Ashley Moody is now asking a judge to freeze the company’s assets and operations of MV Realty.
We reached out to MV Reality for a statement, and here is what they said:
“MV Realty and our team of licensed real estate agents have proudly assisted over 35,000 homeowners across the country through our innovative Homeowner Benefit Agreement (HBA) program.”
“MV Realty remains confident the Homeowner Benefit Program fully complies with the law and benefits consumers who select MV Realty as their listing agent. We look forward to working with the Florida AG to address concerns and continue this valuable program as an option to homeowners across the state.”
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