Protecting Homeowners: Exposing MV Realty’s Deceptive Practices

Hello and welcome, this is Nolan with Discover NC Homes and Nolan’s News, and today we’re filming at 312 W. Moore Street in beautiful downtown Southport. The location is absolutely amazing, you have river views just across the street, it’s within short walking distance anywhere, so if you have some questions on this listing, check it out.

But this first newsletter is going to be on a company called MV Realty, which is no longer allowed to practice real estate in the state of North Carolina. Actually I became acquainted with this company a few months ago. They had something they offered called the Home Owner Benefit Program, and what it was – they would offer some quick cash to the seller, and in turn, if you didn’t read the fine print (they had a three or four-page agreement) where you were locked into selling your home with them for 40 years. The way they did this is they actually put a lien on the house saying that a full commission would need to be paid. Not a very ethical, I think, agreement and way to go.

So we’re locally in Brunswick County, we just looked through the Register of Deeds. There are about 30 to 35 agreements that are currently in place, but, but working with a homeowner we kind of, not get out of the agreement, but had a solution to a better outcome, if you will.

So, working with their agent who was out of Raleigh or Charlotte, and they’re not local to Brunswick County either (they don’t have an office within a few hours), I think Raleigh might be their closest satellite office, but long story short, we were able to negotiate a referral fee to pay to them instead of a full commission.

The homeowner seller was able to list with somebody local who knows the market, who could provide comps, who could do all the things that are necessary.

So it was really a good experience, but, just really sad that this company kind of preyed on a lot of people who I don’t think knew what they were signing, but unfortunately needed some money quickly. So, if you’re in this situation or you know of someone, please have them reach out to us and we’ll be able to work through it with you. Again, they are no longer allowed to practice real estate in North Carolina, but the agreements that they have signed, and again it’s been about 30 – 35 just in Brunswick County, will remain in place. So we are happy at least that they can’t do this to anybody anywhere else in the area.

So if you have questions, please let me know and we’ll talk to you soon.