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MV Realty loses Colorado license in latest setback over contracts

Inman

The Colorado Division of Real Estate announced the move Monday, days after the beleaguered brokerage suffered a legal blow in California over 40-year contracts described as "predatory."

Contracts 166
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MV Realty files for bankruptcy

Housing Wire

Right-to-list agreement firm MV Realty has filed for Chapter 11 bankruptcy in 33 states. MV Realty currently faces lawsuits in multiple states for allegedly misleading consumers and homeowners. MV Realty operated in 33 states and has more than 500 real estate agents. MV Realty did not return a request for comment.

Realty 460
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Keller Williams faces three lawsuits tied to its profit-sharing program 

Housing Wire

Three agents formerly affiliated with Keller Williams Realty — Jerri L. Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. Allegations include breach of contract and unjust enrichment, with damages sought at $250 million.

Brokerage 506
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Consumer advocates call California Realtors’ buyer rep agreement ’unreadable’

Housing Wire

Her analysis also notes problematic provisions in CAR’s contract related to dispute resolution, dual agency, commissions owed and buyer cancellation. The contrast between the CAR and eXp contracts could not be sharper,” Stephen Brobeck, a CFA senior fellow, said in a statement. The eXp contract is written with the buyer in mind.

Realtors 403
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Drama in the Myrtle Beach real estate scene

Housing Wire

Two Myrtle Beach Century 21 franchises have filed a lawsuit against eXp Realty , alleging that eXp Realty agent Joel Barber stole profits and private real estate data during secretive, “unauthorized” late night office visits. Barber had been working for the Harrelson Group on a contract basis since March of 2017. and 5:30 a.m.

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Curbio settles fraud case; NAR partnership remains in place

Housing Wire

DC Attorney General Brian Schwalb accused Curbio of defrauding homeowners by luring them into contracts that allowed the company to pilfer their home equity over minor violations. Curbio also has partnerships with HomeSmart , eXp Realty and RE/MAX Gold. NAR declined to comment on the situation.

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What Does Under Contract Mean in Real Estate?

Raleigh Realty

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147