Talkov Law President Scott Talkov was quoted by California’s leading daily legal publication, the Daily Journal, on the recent national settlement that changes the way that Realtors are paid.
Specifically, the National Association of Realtors (NAR) agreed to pay $418 million to settle a nearly $5b judgment awarded by a jury in an anti-trust case alleging that sellers were required to pay artificially inflated broker commissions by compensating the buyer’s agent.
The Daily Journal sought the perspective of Scott Talkov for his insights on how the NAR settlement will impact the real estate industry. Talkov was quoted as saying
“For real estate attorneys, this is a great opportunity,” argued Scott Talkov, founder and managing partner of Talkov Law in Newport Beach.
That opportunity, he added, is specifically in the area most affected by the settlement: representing buyers. Many buyers are now going to be looking for a way to avoid paying “lottery-like winnings” to an agent, he said.
“A lot of buyers are going to go without an agent, but they still need the paperwork,” Talkov said.
“Real Estate Settlement May Create Opportunities for Lawyers,” Daily Journal, March 27, 2024
As the real estate industry continues to shift, Talkov Law remains committed to partition clients who are co-owners of real property. Talkov’s work as a partition attorney intersects with real estate brokering in that many partitions end with a sale of the property either voluntarily or under court order by the partition referee. Talkov has been a licensed real estate broker since 2014.
Talkov Law is California’s first and largest partition law firm, with eight full-time attorneys ending co-ownership disputes throughout California. The firm has handled 400 partition actions throughout California. Every case has resulted in a sale to either a third party or one of the co-owners. Not a single court has denied their client the right to partition or declared their client to be a non-owner.
