Attorney General Jeff Jackson announced on Apr. 27 that North Carolina has secured consent judgments voiding contracts with MV Realty, permanently banning the company from operating in the state and requiring it to pay $1.32 million in restitution.
The announcement affects more than 2,100 homeowners who were bound by Homeowner Benefit Agreements that locked them into exclusive listing contracts for 40 years and required payment of a commission even if they did not use MV Realty to sell their homes. The total potential exposure for these homeowners was at least $18 million.
“This company gave homeowners a few hundred dollars and locked them in for 40 years,” said Attorney General Jeff Jackson. “We voided every one of those contracts and shut the company down in North Carolina. Done.”
MV Realty also made nearly 150,000 calls to numbers on the Do Not Call Registry and more than 340,000 robocalls to residents across North Carolina before being sued by the North Carolina Department of Justice (NCDOJ) in 2023. According to the official website, the North Carolina State Executive Attorney General aims to prevent crime, assist law enforcement, protect consumers and defend state residents’ rights according to the official website. The office provides services including legal representation, criminal prosecution support and consumer protection according to its website.
Jackson heads this office as attorney general according to its official site, which extends its services across all of North Carolina as reported by its website. The attorney general’s authority includes representing state agencies in court and prosecuting criminal appeals according to information provided online.
Under terms of the consent judgments entered by the North Carolina Business Court, MV Realty cannot enforce any remaining HBA contracts or collect fees from affected consumers. Individuals associated with MV Realty are also barred for ten years from engaging in businesses involving consumer financial products or residential real estate within North Carolina.
In addition to restitution payments exceeding $1.3 million for those who paid termination fees, further penalties up to $5.7 million may be imposed if judgment terms are violated. Previous actions led by Jackson include releasing residents from predatory agreements with Stone Brook Partners—run by Antony Mitchell—and securing judgments against other companies accused of fraudulent practices affecting homeowners.
