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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 476
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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 369
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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 511
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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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NAR raises alarm on floor plan use, vacant lot scams, ‘unfair’ contracts

Inman

Charlie Lee, the National Association of Realtors' senior counsel, spoke on legal issues impacting agents at the MLS Association Executives Session at the Realtors Legislative Meetings on Sunday.

Contracts 158
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Umpa commission lawsuit defendants look to get case dismissed

Housing Wire

Due to how HomeServices and its affiliates handle their client contracts, if a dispute arises, each client is entitled to individual arbitration of their claims. Hanna Holdings, Douglas Elliman, Realty ONE Group and HomeSmart International also filed motions to dismiss the suit.

Realty 448
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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