MV Realty under investigation, accused of scamming people into signing deceptive contracts

Real estate company MV Realty is under investigation, accused of scamming people into signing deceptive contracts with major financial consequences.

The contracts in question are called "Homeowner Benefit Agreements." 5 On Your Side was sent one signed by a Garner woman.

By signing the contract, a homeowner agrees to use MV Realty as their listing agent if they decide to sell their home in the next 40 years. If they break the contract and sell their house using a different Realtor, they still have to pay MV Realty 3% of their home’s value.

In exchange, the homeowner gets a check; anywhere from a few hundred to a few thousand dollars.

MV Realty sent this statement to 5 On Your Side, saying it has stopped signing new contracts for now: “MV Realty has voluntarily temporarily suspended entering into new customers contracts as we work to address the concerns raised by regulators and legislators. The Company remains confident that the Homeowner Benefit Program fully complies with the law and benefits consumers who receive a cash incentive to select MV Realty as their listing agent.”

North Carolina’s Attorney General says it has a total of 18 complaints against MV Realty, 13 of them have come in 2023. The AG’s Office and the North Carolina Real Estate Commission are investigating MV Realty’s actions in North Carolina. You can file a complaint with the AG’s Office or the North Carolina Real Estate Commission if you’ve run into trouble with MV Realty.