I-Team: Troubled real estate company ordered to halt business practices, Ohio AG says

MV Realty has been ordered to halt its practices, the Ohio Attorney General’s Office announced Wednesday.

The Franklin County Common Pleas Court issued a preliminary injunction against MV Realty of Ohio, its founder, Amanda Zachman, and its principal broker, Diana Remar, the AG’s office said.

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The injunction prohibits MV Realty from engaging in the unlicensed practice of real estate, from entering into new exclusive right to list agreements, and from using agreements that are not in compliance with Ohio law.

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“Taking swift action against MV Realty and securing a preliminary injunction is a crucial step in safeguarding Ohio’s homeowners and upholding the integrity of our real estate market,” Ohio Attorney General Dave Yost said. “We cannot tolerate deceitful practices that trick people and put their hard-earned assets at risk. Ohioans deserve a fair and transparent real estate environment.”

The lawsuit filed in February contends that MV Realty’s “Homeowner Benefits Agreements” deceive homeowners by leaving out crucial information required by Ohio law, such as fair housing language, anti-blockbusting language, a definite end date, and a clear statement of representation.

The AG’s office says the preliminary injunction aligns with recent legislation enacted by the Ohio legislature, preventing agreements of this nature and protecting homeowners from deceptive practices.

A company spokesperson for MV Realty shared the following statement in reaction to the preliminary injunction, it reads in part:

“MV Realty remains confident that the Homeowner Benefit Program fully complies with the law and benefits consumers who select MV Realty as their listing agent. MV Realty continues to voluntarily and temporarily pause entering into any new agreements. We look forward to working with AG Yost to address concerns and continue this valuable program as an option to homeowners across the state.”

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