On August 30, 2011, the Federal District Court in Columbus, Ohio found that the $199 fee charged by NRT Columbus, LLC, dba Coldwell Banker King Thompson was a violation of the Real Estate Settlement Procedures Act (RESPA). For more information about the case, Augenstein v. Coldwell Banker, et. al., Case No. 2:10-cv-191, visit my website http://zitesman.com/RESPALitigation.aspx.
The next phase in the case is class certification where we will determine who else may be entitled to a refund.
If you have bought a home in Ohio in the last year and paid the real estate broker a fee without corresponding services being performed, you may have a case for recovery. While it may seem like a relatively small amount that was charged, multiplied by the hundreds or thousands who were charged and it becomes very significant and that is why class action makes sense.
Bear in mind that it is not uncommon to find that the agent you were working with in buying or selling the home is being put in a difficult position and usually does not like the fee any more than you do. The agents do not usually receive a split of the fee and may have to pay it themselves if their clients refuse. While some pick it up for the client, most do not.
