- Colorado AG Phil Weiser reached a settlement with MV Realty PBC, LLC and affiliates (collectively, “MV Realty”) for allegedly violating the Colorado Consumer Protection Act by marketing predatory listing agreements.
- In the complaint, the AG’s office alleged that MV Realty targeted financially vulnerable homeowners—including seniors—with its “Homeowner Benefit Program,” offering small cash payments in exchange for exclusive 40-year listing rights and recording “memoranda” on property titles that functioned as liens and clouded title.
- Under the consent judgment, MV Realty must treat its Colorado future broker engagement contracts as void and unenforceable, terminate all recorded memoranda at its own expense, and pay $600,000 to the State to be used at the AG’s discretion for restitution, fees and costs, education, enforcement, or other public-welfare purposes, among other relief.
- As we have reported, several AGs have moved to block these long-term listing agreements, including recent enforcement actions involving MV Realty in New Jersey, Minnesota, and Florida, and a previous settlement against a different company in Colorado.