Bill Will Protect Floridians From Predatory Realtors
Bill will protect Floridians from predatory Realtors. Yes, I’ve been a real estate broker for over 20 years. This is crazy. But, I’m not surprised, are you? Two Florida lawmakers, state Sen. Jennifer Bradley and state Rep. Will Robinson, have proposed new legislation that aims to protect homeowners from predatory real estate listing agreements. The bills come in response to MV Realty, a Delray Beach-based brokerage that has been accused of using deceptive practices to swindle thousands of Florida homeowners. MV Realty provides quick cash to homeowners who sign over the exclusive rights to sell their homes, but what many do not realize is that these contracts last for 40 years and allow the company to place a lien on their homes.
The proposed legislation would limit the terms of listing agreements to six months and prohibit courts from enforcing these agreements through the use of liens on a homeowner’s property. Attorney General Ashley Moody has expressed her support for the legislation, stating that it “shuts down an unfair, unscrupulous new practice that aims to take advantage of Floridians and their most important asset, their homes.”
The lawsuit against MV Realty is ongoing, and Moody has asked the judge to prevent the company from enforcing any of its current contracts and to prevent it from engaging in deceptive business practices going forward. She also requests that MV Realty return the money it took from homeowners and pay civil penalties.
The proposed legislation is an important step in protecting Florida homeowners from predatory real estate practices. Listing agreements are a routine part of real estate transactions, but they should not be used to exploit consumers. By limiting the terms of these agreements and prohibiting courts from enforcing them through liens on a homeowner’s property, the new legislation will help ensure that Floridians are not taken advantage of by unscrupulous real estate companies like MV Realty. It is important to make it clear that the state will not tolerate this behavior, and the proposed legislation is a positive step in that direction. TBT
Florida Cities Where Homes Are Selling Below Asking Price
Pensacola, FL Metro Area
– Number 36 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $337,900
– Median sale price: $318,950
– Total homes sold: 692
(Photo by Spencer Platt/Getty Images)
Ocala, FL Metro Area
– Number 35 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $299,000
– Median sale price: $269,000
– Total homes sold: 638
(Photo by Michael Reaves/Getty Images)
Orlando, FL Metro Area
– Number 33 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $399,989
– Median sale price: $385,000
– Total homes sold: 3,010
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Tampa, FL Metro Area
– Number 30 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $375,000
– Median sale price: $369,990
– Total homes sold: 4,215
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Cape Coral, FL Metro Area
– Number 17 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $430,000
– Median sale price: $384,945
– Total homes sold: 1,400
(Photo by Joe Raedle/Getty Images)
Jacksonville, FL Metro Area
– Number 16 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $430,000
– Median sale price: $384,945
– Total homes sold: 1,400
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Panama City, FL Metro Area
– Number 15 on Stacker’s list
– Average sale-to-list ratio: 0.97
– Median list price: $385,000
– Median sale price: $359,429
– Total homes sold: 409
(Photo by Julio Aguilar/Getty Images for IRONMAN)
Miami, FL Metro Area
– Number 7 on Stacker’s list
– Average sale-to-list ratio: 0.96
– Median list price: $530,000
– Median sale price: $455,000
– Total homes sold: 1,879
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Naples, FL Metro Area
– Number 4 on Stacker’s list
– Average sale-to-list ratio: 0.96
– Median list price: $799,450
– Median sale price: $580,000
– Total homes sold: 687
(Photo by Spencer Platt/Getty Images)
