that's not the same as a 40 year contract. Tell me you no nothing about real estate without telling me you know nothing about real estate 😂 @000secretagent
@@00SecretAgent The problem with that plan is that no homes would ever sell, theoretically. And agents make no money if they don't get a buy or sell out of the deal.
When I was looking for an apartment to rent a realtor tried to get me to sign an exclusive contract with her. It stated that if I found another apartment through another agent or on my own, I would have to pay her 10% of the first years rent. I simply got up and left and never went back.
Our laws are written to go after individual criminal activity (assuming the activity is even a crime). Consumer protection is an after thought (insert personal responsibility fallacy here).
@@kellymcclendon6601 that's not really saying anything. Pretty much every state is anti-"the people". California has mandatory warnings to consumers about cancer hazards 👍🏾, but it is also the state that authorized corporal punishment for speaking Spanish in classrooms as late as the 60s👎🏾. Unless a state hangs its hat a thing; you really say "it's in____". IE: Texas lost power state wide, but Texas also the only state disconnected from the national power grid. Makes sense "it's in Texas".
Lmaooooo "department of real estate". Sadly a lot of smooth brained people think that private businesses are parts of the government. I know weirdos who think collection agencies work for the government under the "collections department"
We need names and faces behind these fraudulent companies otherwise they'll do it somewhere else under a different name. It's extremely difficult to look at anyone in the Real Estate Business as a Morally Just person. Most would scam their grandma for a commission.
Yeah i really hate how the identities of the folks who run these companies and make these decisions aren't publicized in these stories. Who specifically was managing this fellas home "sale" for example? Name that person. They should face public criticism, not to mention, the public should be warned not to do business with these people whether it's this corporation or another
A 40 year real estate listing? This is unheard of. However, I have previously heard about agents wanting to list properties, but not actually do any work like showing the house to prospective buyers, sending out notices, or having open houses. They would rely on other agents to sell the property and they get their percentage for doing nothing as the listing agent.
Should see those lifetime vacation rentals. You can't get put of some of them. They get passed onto your kids even after you die supposedly. Now the courts ruled against that but for awhile that was in the contract.
😢Tons of homeowners are claiming that they cannot sell their homes because it is illegal to obtain a second real estate agent other than MV reality... Basically MV reality has bought thousands of homes in Georgia for pennies and now holds those homes hostage for a ransome...
Short version: MV Reality does everything in their power to not sell your home. Additionally, MV's contract is 40 year agreement to be the company that sells your home for 3% of the selling price. The 3% is automatic regardless of who sells the home. However, if someone sells the home other than MV the company gets an additional 3% as a penalty. Basically MV wastes $0 attempting to sell your home for the highest possible price. When you finally become desperate enough to hire someone else to sell the home you end up paying MV 6% of the selling price.
Right, I think that would fall under an unenforceable contract. It would be like saying someone can only buy a car from you but you don't have cars to sell and then sending them fees when they finally buy a car from someone else...
Sounds like we don’t need Realtors. Just make it easier for online home buyers to schedule appointments and get the right type of loans. The realtors don’t seem to help with that at all anyway.
It’s time to investigate this industry. We need to figure out why people are listing $80k homes for $500k and why that money is going to the realtors 😒
At this rate he would save money just going through realtor for 1% and paying those idiots 3%. Definitely should go through the legal process. It's because of contract is sign doesn't mean it's enforceable, and if they're not actually trying to sell homes that sounds like an unenforceable contract to me (If not outright fraud).
1 year is the norm, 40 years... the absolute criminality... you have to read the contract your signing, and 6% on the sale! Oh my goodness. If they offer you money for signing with them...FLAG!!!!!
Please take the time to read all consents. You would be surprised at what companies sneak in them. If you read the hospital consents, your eyeballs would fall out.
Law Suit. They need to sell or pay up. Local courts need to to give them 4 months to a year to sell or the 40 year contract becomes null and void. KEEP CORPORATIONS OUT OF SINGLE FAMILY HOME REAL ESTATE. Do so or will all be home less soon.
I think that this company could also be charged with obtaining money under false pretencessince they never intended to do the job that they have been contracted for.
How did they think they would get away with this? A few people are saying "bad faith". To me bad faith means something like negligence or lack of effort due to bad planning. This was an outright scam with no intent of providing an actual service.
Wow what a scam. Contract says these crooks get 3% if the contract is terminated before 40 years is up. Thats a normal commission for an agent if a house does sell.
This is what defunded regulatory bodies and general disinterest in active business regulation gets you. Elsewhere, these terms would be immediately illegal just because they are obviously obscenely imbalanced and predatory.
This company shouldn’t be allowed to operate anymore they’re predatory.DOJ should go after them and shut them down or at least make them as to where they can’t operate anywhere and open any business anywhere in the state expect where they began which isn’t it florida? Seems like I’ve seen this issue with others before a class suit needs to happen
Folks see money in a cheque and they easily sign the document In my city, you normally pay the realtor up front to process the listing and such, not the other way around until it sells
This seems like a Trump-like business theft wrapped up in confusing small print where the little guy gets shafted and the moneymen laugh all the way to the bank.
Wouldn't these contracts be bad faith contracts if they did not intend to act as a realty company?
The same would be said of all listing agents...
They have no intent to sell, just list and wait for a buyer or another agent to sell... "SNAKES"..!
One would think so.
that's not the same as a 40 year contract. Tell me you no nothing about real estate without telling me you know nothing about real estate 😂 @000secretagent
@@00SecretAgent The problem with that plan is that no homes would ever sell, theoretically. And agents make no money if they don't get a buy or sell out of the deal.
@@markh.6687
You did not read my comment or comprehend it..!
When I was looking for an apartment to rent a realtor tried to get me to sign an exclusive contract with her. It stated that if I found another apartment through another agent or on my own, I would have to pay her 10% of the first years rent. I simply got up and left and never went back.
Sign right here so that I can get paid for doing nothing
That's inane. There are so many free apartment locators. What a scam
They should do a story on their company too.
Yeah, that's crazy.
Well it *is* the chosen profession of people seeking to maximize their pay while minimizing work they do
And they still operate? That's some unscrupulous mess
Our laws are written to go after individual criminal activity (assuming the activity is even a crime).
Consumer protection is an after thought (insert personal responsibility fallacy here).
@@john2g1 Doesn't help that there are politicians that are supposed to represent the people, are actively hostile against consumer protections.
It's in Georgia.
@@kellymcclendon6601 that's not really saying anything. Pretty much every state is anti-"the people".
California has mandatory warnings to consumers about cancer hazards 👍🏾, but it is also the state that authorized corporal punishment for speaking Spanish in classrooms as late as the 60s👎🏾.
Unless a state hangs its hat a thing; you really say "it's in____". IE: Texas lost power state wide, but Texas also the only state disconnected from the national power grid. Makes sense "it's in Texas".
Thanks for sharing this. I’m curious why the Department of Real Estate allows this company to be a broker with these deceptive practices.
State real estate board is just a fee collection business, no better than the snakes they are supposed to oversee..!
Because they make money off them. It's that simple. Pay us and do whatever tf you like
So I bet you're just now finding out that Atlanta government is a corruption racket
What is the "Department of Real Estate"?
Lmaooooo "department of real estate". Sadly a lot of smooth brained people think that private businesses are parts of the government. I know weirdos who think collection agencies work for the government under the "collections department"
Bad faith behaviors, criminal!
That homeowner was so patient and accepting. He should have located other victims and done a class action suit!!
It's a LLC dummy.
Extrajudicial settlement works for me.
Thank you for bringing this scam to light. We need more journalism like this.
We need names and faces behind these fraudulent companies otherwise they'll do it somewhere else under a different name. It's extremely difficult to look at anyone in the Real Estate Business as a Morally Just person. Most would scam their grandma for a commission.
Yeah i really hate how the identities of the folks who run these companies and make these decisions aren't publicized in these stories. Who specifically was managing this fellas home "sale" for example? Name that person. They should face public criticism, not to mention, the public should be warned not to do business with these people whether it's this corporation or another
@2:07
There are your names.
@@waltblackadar4690 Names and how the contract works. Look at the names. Carpetbagger names.
A 40 year real estate listing? This is unheard of. However, I have previously heard about agents wanting to list properties, but not actually do any work like showing the house to prospective buyers, sending out notices, or having open houses. They would rely on other agents to sell the property and they get their percentage for doing nothing as the listing agent.
Should see those lifetime vacation rentals. You can't get put of some of them. They get passed onto your kids even after you die supposedly. Now the courts ruled against that but for awhile that was in the contract.
unfortunately you really can't trust anyone , but you have to read what you sign
People are taught that the reason to hire a real estate agent is so that they have someone on their side who knows how to read relevant documents
😢Tons of homeowners are claiming that they cannot sell their homes because it is illegal to obtain a second real estate agent other than MV reality... Basically MV reality has bought thousands of homes in Georgia for pennies and now holds those homes hostage for a ransome...
wrong
@@stuwest3653 its true if they have not try to sell it.
@@stuwest3653How about adding a reason why to your “wrong” comment.
@@Easyrecliner If you can't figure it out by reading it then my explanation isn't going to help you.
@@stuwest3653come on you sound dump. If someone ask for an explanation then explain. If you don’t have one then hush
Forty year listing? Why?
Why you ask? Go look up stories about why this is done. Cliff note > to make money fraudulently
Short version: MV Reality does everything in their power to not sell your home. Additionally, MV's contract is 40 year agreement to be the company that sells your home for 3% of the selling price.
The 3% is automatic regardless of who sells the home. However, if someone sells the home other than MV the company gets an additional 3% as a penalty.
Basically MV wastes $0 attempting to sell your home for the highest possible price. When you finally become desperate enough to hire someone else to sell the home you end up paying MV 6% of the selling price.
@@jclay6680 Mortgage, not a listing contract.
Are they licensed? Do they have licensed realtors? If they cannot provide the service they contracted for the homeowner should sue them.
Right, I think that would fall under an unenforceable contract. It would be like saying someone can only buy a car from you but you don't have cars to sell and then sending them fees when they finally buy a car from someone else...
I can't believe GA Real Estate Commission permitted this to happen.
Laws need to change. But, I guess Sleaze Ball Politicians are being "incentivized" to ignore this, in the State Legislature.
When you own your own Senator; not only do the rules not apply to you, but you can write the rules yourself.
Call out the owners/board by name.
Thanks for reporting. Local investigative reporting is important.
This is despicable
"Don't be dumb, be a smarty! Come and join the real estate party!"
(parody of a Mel Brooks line from "The Producers", which isn't about real estate).
Sounds like we don’t need Realtors. Just make it easier for online home buyers to schedule appointments and get the right type of loans. The realtors don’t seem to help with that at all anyway.
Most don't. I did all the leg work when I was searching for my house and then all the paperwork issues when I sold it.
MV REALTY SOUNDS LIKE A COMPANY CREATED BY USED CAR SALESMEN THAT CANT GET JOBS
Stop saying that, they are worse than a car dealer..!
It’s time to investigate this industry. We need to figure out why people are listing $80k homes for $500k and why that money is going to the realtors 😒
If real estate companies were honest, they would charge a flat fee and not be commission based.
The whole mortgage industry has been a scam for decades at least.
If they don't perform, the contract is void.
6% lol. I sold my home myself and paid 2% to the sellers agent. Sold in 10 days at 50K above agents suggested list price.
Anyone can do that in this market. lol.
They probably only should have gotten 1 percent for the work they did
Feels great when selling like that. Only to turn around and overpay even more for your next house.
At this rate he would save money just going through realtor for 1% and paying those idiots 3%. Definitely should go through the legal process. It's because of contract is sign doesn't mean it's enforceable, and if they're not actually trying to sell homes that sounds like an unenforceable contract to me (If not outright fraud).
So you paid 2% to yourself?
I thought they were under multiple lawsuits by several States
Where is the consumer protection laws !
Did anybody read the contract?
Contract word mafia
Absolute evil!!
Crooks do not sleep
Scammers get them out of Georgia
What a scam
And contracts like this is just begging a law suit and then an investigation from the government state or fed. SMH This is just greed pure and simple.
Get them!
1 year is the norm, 40 years... the absolute criminality... you have to read the contract your signing, and 6% on the sale! Oh my goodness. If they offer you money for signing with them...FLAG!!!!!
Had a big commercial realestate agent try and do this to me. I actually read the contract and laughed in his face.
To think… elected officials could have been addressing THIS, rather than banning books and reversing women’s rights…
They do this to Avoid dealing with the real issues effecting people all around.
Please take the time to read all consents. You would be surprised at what companies sneak in them. If you read the hospital consents, your eyeballs would fall out.
Law Suit. They need to sell or pay up. Local courts need to to give them 4 months to a year to sell or the 40 year contract becomes null and void. KEEP CORPORATIONS OUT OF SINGLE FAMILY HOME REAL ESTATE. Do so or will all be home less soon.
I think that this company could also be charged with obtaining money under false pretencessince they never intended to do the job that they have been contracted for.
Damn snakes.
This is what happens when businesses aren't regulated, but that's what they vote for in the south.
A 40 yr listing agreement is laughable.
Fraud, put them all in jail for 40 years.
Wait a minute ... a real estate scam? In Georgia? Noooo that wouldn't be possible.
My gosh, my standard was 6 months with the option to release them early if I didn't do a good job for them. This industry is a mess!!
When money changes hands, who doesn’t read things they sign
Can someone please explain this? I don't get how they're making money
How did they think they would get away with this? A few people are saying "bad faith". To me bad faith means something like negligence or lack of effort due to bad planning. This was an outright scam with no intent of providing an actual service.
Shakespeare said something about the type of Lawyers that create such contracts.
This is vrry common in TEXAS .
Wow what a scam. Contract says these crooks get 3% if the contract is terminated before 40 years is up. Thats a normal commission for an agent if a house does sell.
If you do not know how the other party is making their money, it is likely a scam.
If he sells the house to his child for $1 wouldn't this get these creeps out of the picture?
Taking that short term money will always cost you in the end....
ummm this seems illegal
penalties Pays More = Yes and keps property listed in a grouping that debates taxes , , , its a loophole in realty
Always have a lawer review everything before signing
Listing agreements can be broken, real estate agents can be fired. He should’ve given the $700 check back and used another company.
Isn't this the company started by that Amanda lady who was an absolute ghoul on Big Brother? Real shocker here.
They should be ashamed of themselves
Companies don't just give you money up front because they are sweet peas. Read the contract before signing.
This is what defunded regulatory bodies and general disinterest in active business regulation gets you. Elsewhere, these terms would be immediately illegal just because they are obviously obscenely imbalanced and predatory.
This company shouldn’t be allowed to operate anymore they’re predatory.DOJ should go after them and shut them down or at least make them as to where they can’t operate anywhere and open any business anywhere in the state expect where they began which isn’t it florida? Seems like I’ve seen this issue with others before a class suit needs to happen
How Pathetically Corrupt.
Never do more than 6 months… and even that is too long for me.
Typical realtors, "SNAKES" far worse than a car dealer..!
But most state real estate boards are no better, just there to collect fees..!
40 year listing!!! 😂🤣😂🤣
FRAUDULENT
Yep. They just handing out free money. What could go wrong?
Buyer Beware
6% commission… as someone who sells real estate I only ever give 4%
But there's a "housing shortage"...naw, it's a "greed surplus".
That’s a bait & switch
Should be illegal and they should put them out of business quickly
Why capitalism is a failure
LoL nope
Creaps. Just steal from unsuspecting homeowners. Should be outlawed. Lay people can't understand those contracts way too complicated.
Well, ain’t they just peachy?
Nasty behavior
Sounds like the Mafia.
Disgusting
Predatory practices.
Ignorant homeowners and their equity, are soon parted
Folks see money in a cheque and they easily sign the document
In my city, you normally pay the realtor up front to process the listing and such, not the other way around until it sells
WHO own MV Realty?
Mortgage in Latin explains it all...
🤬
They need to bring back tar and feathering.
😢
Goddamn
And they're messing with Trump.
More ridiculousness ❤
Maybe don't park on the lawn. Bring your neighbors values down too.
hey no one gives you money for nothing. be very wary of anyone offering you a check up front
Predatory
Don't people read wtf they sign
Not everyone understands legalese. I'm sure these contracts are obfuscated in hard to understand language.
This would never be allowed in Canada. I sold real estate for over a decade in Toronto.
Fraud
wow 🐷🐷🐷🐷🐷s
Good old Capitalism.
Capitalism, always finding a new way make money from the ignorance of the consumer.
O’Biden’s America😂
This seems like a Trump-like business theft wrapped up in confusing small print where the little guy gets shafted and the moneymen laugh all the way to the bank.
Mar-O-Whacko 👱♂️⚖️👨🦲
Has absolutely nothing to do with the president, the local reps yeah
@@user-mu3xk7ie2t while you live in the ghetto…
I hate biden, but not a true statement... It is corporate lobbyist..!
If they do not attempt to sell the house they are breeching the contract.