Missouri Attorney General Catherine Hanaway has reached a legal settlement with MV Realty Holdings, LLC, a Florida-based real estate brokerage, over allegations of deceptive business practices. Under the consent judgment, MV Realty will pay more than $307,000 to the State of Missouri to address issues affecting homeowners. Hanaway’s office stated that MV Realty’s actions involved improper liens and cancellation fees connected to unlawful real estate contracts.
Over the past year, MV Realty reportedly offered Missouri homeowners upfront payments in exchange for exclusive brokerage rights when the homeowners decided to sell—a contract that could last up to 40 years. “Homeownership is a goal for many Missourians,” Hanaway stated in an official announcement, noting the state’s stance against what she called out-of-state fraudsters. The Attorney General’s Office alleged that MV Realty did not fully disclose important terms of the contracts, including the length of the agreements, potential effects on future generations, and a recorded “memorandum” with county clerks that affected the property’s chain of title. The office stated that these details were not clearly communicated to homeowners.
Steven Reed, Consumer Protection Section Chief Counsel, addressed the alleged abuses, noting that real estate contracts granting indefinite listing rights to a brokerage are considered unlawful. He advised Missouri residents who suspect they have been affected to report the issue through the Consumer Protection hotline or the Attorney General's online complaint system. Under the consent judgment, MV Realty will terminate all remaining contracts in Missouri, which relieves homeowners of approximately $2.4 million in potential termination fees and does not require the company to reclaim the $250,000 in upfront payments already made by consumers. The Office described this outcome as a measure providing relief for those involved in the brokerage’s contracts.
The legal action against MV Realty was led by Assistant Attorneys General John Grantham and Nate Brancato, with support from investigators in the Consumer Protection Section. The Office’s enforcement of the consent judgment underscores its commitment to consumer protection and its efforts to hold companies accountable for practices that may exploit homeowners.
Information on the consent judgment and its effects on Missouri homeowners, including full case details and Hanaway’s remarks, is available on the Missouri Attorney General’s Office website.
