Good morning, everybody. Welcome to motivational Monday. My name is Matthew Hodge in Executive Vice President here of LPT Realty joined by every Monday by Robert Palmer, founder and CEO, and, I am joining you guys today on the other the globe. I am in Italy. Robert is in Las Vegas. So it's quite a big time difference. So just to give you a scale, at the Super Bowl. We are we already know what you're doing out there. We're about to jump right into that. But interesting day. It's four PM here. We went to the coliseum this morning and, have gone out had lunch and have almost had a full day. So it's so weird to be joining you who it's seven AM by you starting the day. So interesting day. But you are in Vegas, and, you were there for the Super Bowl first time in Vegas, which was pretty exciting. And, you were there for the home you were invited by homes dot com. They had a big suite there. So kinda walk me through, your time there. I mean, it's pretty unreal to to be at the Super Bowls it is, but to be there in that fashion, like, walk me through what that was like for you. Yeah. You know, it's it's really funny. I got I got the invite from homes I get this this message on LinkedIn and it's like, hey, Andy Flores, the CEO of CoStar wants to talk to you, you know, can I get your cell phone number or whatever? I thought it was spam, my guy. I I took a screenshot of a minute to leave you. I'm like, is this a joke? You know, like, what's going on? And, you know, so we connect with a and b and, come out, you know, he brought a lot of industry leaders out a really good time, and and wanted us all to, you know, learn firsthand about, you know, what their plans are with homes dot com, really help us understand their goal to partner with agents and how they view the model, the le your listing, your lead model, we'll get into all that. But I think the big thing they really caught my is, you know, they're launching this billion dollar advertising campaign that started with, four Super Bowl commercials last night. One was a minute long and then three thirty second. They brought in, you know, heavy actors. We're gonna play a couple of those spots this morning. But I think what's critical is, like, this is going to have a ripple in the end of industry. And what's important to me is that we position LPT agents to maximize that opportunity because sellers are going to see these TV commercials you know, homes dot com already is driving massive traffic. You see the picture there. I don't know if you wanna spotlight some of these. You know, there's Dan Levy and Heidi, who's starting the commercials. They were up in the suite with us. You'll see Noah waving behind us. That's Andy Flores's assistant of at Holmes. I got to spend some time with him. Daniel Levy was the creative genius behind it. There's a Andy Florence, a CEO, a co star with us at, the YouTube concert. On, on Saturday night. They see Robert Refkin there from Compass as well. Jeff Goldbloom was hanging out. He represents apartments dot com, which is part of Coastar family. And so part of what they're doing is the same model they ran, with apartments dot com, building the media out, building the traffic, they're not bringing over to, to homes dot com, which is exciting. And so to give a little backstory, you know, Dave, if you got those first headlines, you know, this whole thing started, co star, you know, they run the the largest commercial real estate software solution, in the country. We've actually been talking to them about a co star deal for our eventual commercial division here at LPC Realty. And then, back in early last year, there was talk of co star buying realtor dot com. For those of you that don't know realtor dot com is actually owned by Newscorp, Rupert Murdoch, the Fox family, they were gonna buy realtor dot com for three billion dollars because they decided they wanted to come into, the residential space. But to run it more the way they run CoStar on the the commercial side. And so, they had those conversations that deal somewhere during due diligence fell apart There's another headline that came out a little bit later, that kind of alluded to National Association or Realtors potentially being the the block on that deal. You know, this this was a headline on Bloomberg, Murdoch's potential three billion dollar move sale faces hurdles and realtor group demands. And so nobody knows exactly what, you know, NAR asked for, but NAR who actually controls the domain realtor dot com, even though it's it's run and monetized by news corp and the Murdoch family, wanted something in order for this deal to go through and ended up killing the deal. And so, CoStar pivoted. They had homes dot com, and they said, you know what? We'll take the three billion dollars we were gonna spend on realtor dot com, and we're gonna invest it in making homes dot com, a top portal. And so they started with, paper advertising and and Google organic traffic. I figure that next slide, Dave, and and they they actually reached a hundred million, visitors before anything they tip with the Super Bowl. So these stats up right now, hundred million unique visitors a month and growing, six hundred percent year over year traffic growth, All of this is before they launched their billion dollar marketing campaign yesterday, this is just the last year of them, running a paper clip and and, and kind of organic and and just positioning the site better in the search engines. You see there two thousand three hundred and twenty eight homebuyers per minute. One at one point last night during the Super Bowl, they had over fifty thousand users hitting the site per minute. So massive traffic last night, coming in during the Super Bowl. So really exciting. And it was cool to be here at ground zero. You know, we had a lot of great conversations with everybody. What's our next slide, Dave? I think that may be a way to go back. Oh, and then I think the most important thing here, we're gonna talk about this. Their model is your listing, your lead. And and so, yeah, Holmes is, you know, very committed to exposing the listing agent. You know, they believe that they believe that's the consumer experience that a lot of consumers want that is not available right now, really in the US. And so we can go back to to full screen on me, Dave. But there you're listing your lead model. And so I think what's really important about that is from our standpoint, you know, homes and Zillow are not competitors. They run two completely different models. Zillow runs a model where if if you want to purchase leads from other people's listings to feed your buyer's agents, to grow your team, that's Zillow's model, and they're for a lot of agents that works really well. And, again, at LPT, we wanna partner with everybody to give you all the best opportunities to win. And so Zillow is a great source if you wanna get leads off of other people's listings. And now we have homes dot com as a solution. If you want to get as many leads as possible off of your own listings. And and those are the two models. And so from our standpoint, they don't compete with each other. When it comes to us as a brokerage or us as agents, but they are going to compete with each other when it comes to the consumer. And and I think that's fantastic. You know, you're gonna have consumer competition now. That's gonna push everybody to get better. The consumer will ultimately decide you know, which brand they want to align with. But at the end of the day, LPT agents behind the scenes are gonna be able to get those leads, whether it's through Zillow and premier agent, through flex or market based pricing or through homes as new product that's coming out. It's, again, you know, my focus as CEO is to make sure that we're in the conversations. We're building these relationships so that our, you all, as our LPT agents have the best opportunity and the best understanding and the best access to the knowledge to position yourself to win. And so I think I think this is gonna be great for consumers. We don't have a model like this right now in the US. You know, if you look realtor and Zillow and Ojo and everyone runs the the other model where they take the listings and monetize the leads and sell them to buyer's agents, And so I think it's important right now that we are bringing seeing this new model now rise where homes is purely focused on, driving the the leads back to listing agent. Now Right now, you you can sign up for a free profile that's gonna get you leads. They are going to be launching a product, where you pay a monthly subscription in order to be a homes dot com member and then members listings will go to the top of the search results. You know, members will show up on the neighborhood pages. Learn a lot about that. The the data they have through co star They actually they own the largest drone network, outside of the US government, in the country, and they use it for commercial real estate. So they've got drones out there taking pictures of commercial buildings and things. And now they're gonna use that to to drive, neighborhood information. Really really cool stuff coming, and and we're excited to, again, be at ground zero with it. Are we good? Did I freeze up? Yeah. Yeah. We're good. Sorry. I was on I was on mute. Jay, I guess, let's run that first let's run the first video, Dave, explaining the marketing campaign. This they actually sent this out to a handful listing agents. I know JJ Rup sent me a text message, him and Amanda got this package in the mail from homes, a couple other agents I saw commented on my Facebook post. Yeah. They're very focused on the agent relationship. I hung out with their head of marketing. They actually focus grouped the commercials with agents. And if agents didn't feel like the commercials were a a good representation of the industry, they didn't on them. So really interesting dynamic. Well, let's let's run this commercial explain or this video that was sent out on little mini video screens to a lot of agents across the country. Of visits. This will be a gold mine of local intel just you wait. Celebrity superstars like Dan Levy, Heidi Gardner. Neighborhood. And a few special guests are spreading the word for you. Homes will be in homes everywhere. Home buyers will see us on top networks. IME TV, streaming platforms, digital radio, and beyond, including NBC, Fox, Disney, CBS, CBS, Max, Paramount, Hulu, YouTube, Pandora, IHeart, your favorite podcasts, and more. And we're kicking it all off on the biggest advertising stage in America. With four Super Bowl apps, That's right. Four. Bingong. It's home. But that's just the start. We're also talking Grammys, Oscar, March Madness, Olympics, NBA finals, MLB All stars, Stanley Cup playoffs, and more. All to help agents like you, amplify demand for your listings and close more deals. No other competitor comes close to our investment to drive leads to all agents. I love it. Home buyers couldn't miss this if they tried. It's all happening on homes dot com for you? Alright. Cool. Yeah. So massive advertising campaign is going to drive a lot of interest. I mean, consumers are gonna see these commercials try as someone who has spent a hundred and fifty million dollars on TV and radio, nothing compared to the billion that homestyle comm is about to drop. Like, this is going to make a lot of waves with consumers You know, I think I think we're gonna see within the next twelve months, it'll be Zillow and homes dot com, at the top of the search results, at the top of the consumer branding. And, again, I think at that point, it's the two different models really going head to head and the consumer deciding, you know, do I want to connect, with a buyer's agent through Zillow, or do I wanna connect directly with the listing agent through homes dot com. And I think consumer choice is a a fantastic thing. So it's interesting, you know, that the the genesis of this deal was the whole realtor com thing. And so the the vibe of the commercials is very much after the show's secession. And the idea is that Daniel Levy is now taking over the company, you know, from his great uncle, and and he's, you know, brought in little way into research schools. And, you know, they're they're flying this helicopter around, creating havoc, Pretty catchy stuff. Let's let's run that full minute commercial day that ran last night during the Super Bowl. So I hear some of you are concerned about the fact that I'm taking over the company from my great uncle. Well, rest assured He's in gray hands. Hit the Vid mercy. Now? Yeah. No. We're bringing together the nation's agents in a super comprehensive agent entered, you know, he bought a helicopter. Gathering off clothes detailed info on neighborhoods, and high top experts to get you insider info on local schools. Which y'all think. Smash and not. Nah. You got wizzy for this? Exciting. Right? I who wanna see with a hundred gsley. Holmes dot com. We we've done on your homework. Now, that. Is worth celebrating. I love it. Thank you. Home work. Very clever. Very good, everybody. Bingo. Homes dot com. Yeah. So super creative. Daniel Levy, they gave him creative control to kind of figure everything out. They the giant cork, they actually kept it, and they're building a speak easy and side of their new co star headquarters, and the giant quirk is gonna be in there. They're up in the DC area. Pretty interesting stuff. So, make sure you have that profile because, again, as consumers see, see these commercials, they're gonna go to homes dot And you wanna make sure that your profile is set up so you can get those leads on your listings. The other cool thing is is through homes dot com, your buyers can connect with you. So if you do have buyers you're working with, you could have them connect with you on homes. And if they go to the site, because they see a commercial, it will then link back to you still. So they've got some really cool technology coming up. You know, we actually, the their head of marketing was here. We spent time with and really understood kind of what they're doing there. We talked a lot about marketing with with my marketing experiences, and then also spent a lot of time with the head of product And one of the things they don't have right now they recognize they need to work on is a team, a team modular, a team system. And so right now, for teams who put all of their listing and their team members' names, which a lot of our teams do. There's not a way to tie those listings together. They recognize that. We're actually gonna consult with him on on how to build out the team module. We had some great conversations. I talked about, you know, some of the challenges we've seen in the past with other other companies and team modules and how we're building out the team module for Connect. And so we're actually gonna work with their product team on how they design the team module so it can handle teams of teams, multi levels, of hierarchy so that if you have expansion teams and things, but just, you know, it's really cool to you know, be having these conversations at ground zero, you know, for a group that I think really is committed to bringing this different model in. Now it's not gonna be free. You know, homes dot com, they're gonna if you wanna be a member, there's going to be a monthly subscription cost. One of the cool things they're looking at is subscriptions will be based on how many listings you have. So, you know, agents who are just getting started, who may have a few listings are going to pay less than agents who have a lot of listings, you know, but that that's their monetization model. And so you'll have the Zillow monetization model where you pay per connection and get those leads. You'll have the homes dot com model where you pay this monthly subscription based on how many listings you have. And then you get all the leads from those listings, again, show up in the agent directory. It's gonna be really cool. We're also working with their marketing team on, potentially adding some custom pages to the active marketing plan. Some additional critical questions to our nine critical questions for our agents who are homes dot com members so that you can really leverage the the marketing power that Holmes is about to to show off during your, during your listing presentation. So the ability to say, hey, you know, mister and missus Consumer, you may have noticed these TV commercials for homes dot com. And, again, have the pages in the active marketing plan, the nine critical at your option, to get. So, again, cool things like that that we're talking about integrating, because, again, anytime that something like this is happening in the industry, it's important to me that LPT as a whole has a seat at the table that LPT agents have a way to maximize the opportunity. You know, we we have to take advantage of things like this. Someone's gonna spend this much money driving consumer traffic around our industry, especially at a time, when when transaction count is down, we wanna be able to capitalize on that. So and then in addition to that, we're having the broader conversations, you know, what does the overall relationship look like in the These things take a lot of time to negotiate. You know, we are we've been talking to CoStar for a while now. Obviously, those those conversations went to a different level. After spending three days, you know, with the CEO, a co star, the head of co star, the head of homes. And so, you know, we're looking at what is that gonna look like, you know, for LPT Yeah. CoStar really was built more for pure play commercial brokerages, and I think they're still trying to figure out what does it look like to work with a residential brokerage where agents also do commercial. They recognize that's a place. They don't have it figured out yet, and we're again gonna be part of the conversations for what that can look like for LPT. So you know, big takeaways from this weekend. Yeah. How do we bring an affordable co star product to LPT agents on the commercial side and their commercial data, their commercial products. You know, what does it look like to maximize the relationship on the homes dot com side so that our LPT agents who are members have access to whatever tools we could help provide as a brokerage to maximize your ability to to win listings using that to to get as many leads as possible from that. It's just it's really cool. And then also they've got the the land group, which we're looking at at launching our, our land specialty. It's something we're probably announce at Grand Prix. So all these conversations are happening at the highest level. And again, I, you know, I wanna bring the information to you guys as fresh as it can be. We don't have all the answers yet. But just know that we're we are working hard at building these relationships to put, again, that unfair advantage. I am committed to giving every LPT agent an unfair advantage, and these are the exact types of opportunities that we have to capitalize on. That's right. Well, first of all, I wanna make sure. You're being a bit modest. And I'm not gonna, you know, go crazy with this, but the fact that you're in that room with this group of people who are trying to push the industry forward and change Right? You could say that they are a direct, somewhat competitor to Zillow and their philosophy on how they monetize their leads. And this is a more agent centric kind of version of that. And it sounded like they kind of brought in the leaders of the agent centric brokerages to to to foster ideas and to build relationships with. And so No conversations are happening behind the scenes guys. You should be really excited that, Robert's there advocating for us, behind the scenes with with homes dot com. I know there's some some very exciting things to come on the future. And again, of course, like you said, Robert, I know we're working to figure out what commercial looks like and give our agents the absolute best opportunity to succeed in the commercial space, which is something that we've been developing behind the scenes, for quite some time, and I think that this really kind of pushes it forward. So Guys, be excited for this opportunity. Again, know that we are always working on your behalf, whether it's over here and we're thinking about conception how we connect differently or if it's Robert at the Super Bowl enjoying some time with his wife as he should, but also doing what he does best is making the connections that are gonna help each and one of each and every one of you drive your business further. And so excited to be here in a part of this story. So, Robert, real quick, I just wanna ask just so that there's some curiosity broken. Like, what is it like being at a suite at super bowl, like, pulling in, like, what does the experience look like? And then we can kinda come back to the to the LPT stuff. I we we gotta know. Yeah. No. Awesome weekend, Vegas was buzzing. You know, we got in and, you know, Jill and Accsey went and saw Little Wayne at excess down at the wind on Friday night. Nice. You know, did YouTube with the group at the sphere, which was mind blowing on Saturday night and then the Super Bowl last night, you know, Coastar had the suite two suites right on the fifty yard line, a really amazing experience. And and it was interesting because, you know, they really focused on inviting leadership from the agent centric brokerages, you know, the the Redfin models weren't represented, things like that. It really was about who's who's focused on empowering and bettering the agents. And you know, some of us, like, we're fierce competitors and there were these weird moments of, like, are we supposed to hate each other? Like, are we allowed to be friends? You know, really interesting hanging out with, you know, leadership from from other other models, other brokerages that that you would never think we'd all be sitting at the same table. We joked at one point, if if we took the picture together, we would probably break the internet with speculation of, like, wait. Who who's buying who, who's hiring, who, who's leaving where, it was just really exciting. And, and look at the end of the day, I I think we are we're all just people. Right? And we're out here with a passion to to push this industry forward and while we may work for competing brands and we may, you know, compete fiercely when it comes to age and attraction and growth and things at the end of the day, you know, we can all have a good time together and and you know, hang out at a Super Bowl. And I think that was something really interesting that Holmes did was bring a group of us together who otherwise probably never would have would have been in the same room never would've hung out, never would've kinda shared that camaraderie and, really exciting. So it already kinda moving moving the model forward in that way. And, you know, and we're excited to see where it goes, you know, and we're and and I think too. I think they recognize, you know, like, again, you know, co star is very expensive on the commercial side. I think they recognize there needs to be a solution for, you know, the residential brokerage where you have agents who are doing some commercial. Yeah. We're we're not a full board commercial brokerage, our price points aren't as high. Like, the money isn't there. And I I think in a way that's giving CoStar a bad rep because they are so expensive. They do have the best data. We've looked at everybody. I mean, they they really have an amazing product. And I think they're recognizing that. I think that the homes dot com move as they now transition into residential, they recognize that There needs to be a little bit different model. There needs to be a product where it's not quite as expensive, for agents who aren't doing, you know, fifty million dollar you know, multi floor deals in New York City that are, you know, helping someone do a a lease on a a retail shopping center for their first small business. And and we're look, we're really gonna push on those conversations and and try to try to help them find a path because look, no one's ever grown as fast as we are. No one has done what LPTs done before. They recognize that. And I think as as you look the future of residential real estate. It looks a lot like us. And I I think I think they recognize that, and they wanna have a partnership with, you know, fastest growing brokerage in history. They wanna have a partnership with a company that is so focused on marketing and empowering agents and all the great things we're doing And, again, just it it really is exciting. It's the industry needed to shake up. If you really think about the online portal model, it has kind of been I don't wanna say stale, but just it's been one dimensional, and and now to have a new competitor pop up who's going to take a different completely different monetization model by saying, hey, we're going to focus on listing agents. And and that that's exciting. And it's it's much needed again, I think competition is good for everyone. Again, they don't really compete with us. We benefit from both models, and now they're gonna go compete for the consumers, and it's gonna force everybody up their game. And, at the end of the day, I think agents win. And anytime there's a move in the industry where agents have the potential to win. I'm gonna make sure LPT is right in the thick of it. That's right, man. That's awesome. That is awesome. Alright. Well, we are about at time. I know you wanted to You had a couple notes that you wanted to mention for Grand Prix. So, anything changing there? No. So, again, we're really focused on community. One change we are having is there was the winner circle party, which was gonna be a separate ticket for Wednesday Wednesday night. Wednesday night. I have decided to personally sponsor the Winter Circle Party, so everyone now gets in for free. If you did buy a ticket, we're going to refund you your hundred dollars and I'm buying everyone who comes to the convention, a ticket to a Winter circle party. We wanna make sure everybody's there. We're here to build the community. We're there to spend time together. So I'm gonna personally sponsor the winners party, Davey, our amazing director and video guy is gonna play the saxophone, and and kinda be the band and and lead that. Be a lot of fun. So again, make sure you get your grand prix tickets. They are still available at shop dot l p t dot com. The schedule is up yet, Libier. We're putting the schedule up we're putting the schedule up today. We're not giving we're not giving, detailed times on the breakouts and and content yet because some of that is the great unveil. Remember, we are modeling the the convention after the new LPT connect community software, which is going to be a massive upgrade to the system we're putting out later this year. Agent directory, agent connections, you know, our, basically, our own internal version of Facebook that that we control. We write. We host on our servers. We can make it do exactly what we wanna do for real estate. And so the convention will be modeled after that. And so some of those details, I don't wanna let out of the bag until we are there. We're gonna do motivation Monday live from the convention on Tuesday. And we may move it back an hour permanently, especially now that I've had to do one of these from Vegas. That's seventy eight. Yeah. We we may we may announce that, at the convention. And until we've been kicking around maybe a a new name for motivation, Monday, that really kinda encapsulate more of that community because I think this is a big part of our community. You know, while the rest of our community tools are in development, and they are going to be absolutely amazing. You know, we may try to add something to name or modify the name a little bit to capture a little bit more of that community piece. But a lot of exciting stuff caught up. So we will have to schedule out. It will give you the basic times and when things are moving, but we're not gonna be putting out the the hour by hour details on the breakouts or the content topics because that's a big part of the unveil, that we're gonna do when we get to St. Pete altogether. So exciting stuff. There's gonna be a lot of great agent led content. It's just it's really gonna be a good time. And, again, it's all about highlighting the way that LPT agents can work together to help each other to build this community and then us now creating the technology underneath it. And I'm I'm picky. Right? I'm a software guy. We looked at workplace. We looked at all these different solutions. In the end, I feel like this is something that we had to build. We found a great underlying framework we could use to to get it part of the way there and then us did custom build on top of it on our own servers and everything, but really important to me that we had the control to make the software do exactly what it needs to do because there's a lot of niche things that we need in real estate that don't come from the out of the box solution. So we've put a lot of time and effort into it. Really excited to share that with everyone at at Grand Prix, and then get it launched out later this year. And so, yeah, So make sure you plan on attending that Winter Circle party on Wednesday night, free is my guest. If you did purchase a ticket, expect to see that refund to your credit card here in the next, I'd say, by the end of the week. And, other than that, guys, your worksite, and make sure you go create those homes dot com profiles, so that you can get those leads as they come in, as they continue to to pound on the marketing and know that we are gonna continue having these conversations the highest level around CoStar, around homes, around all the different products, and really building a deep relationship, and helping them understand what's important to all of us as agents. You know, the team add on piece was a big one, that they weren't thinking about that that some of our agents brought up that I brought up with the team, know, I've heard a lot of I've heard a lot of feedback about Home Snap. We're gonna carry that forward. There were a couple of features of Home Snap, I guess, that disappeared lot lines and things. We're gonna have those conversations with the product group. Just again, it's important that we can carry your messages forward. And and and these guys wanna build a great product for agents. And they need our feedback, and they need our help to do it, and and we're here to help. That's right. Cool. Well, I did see one question real quick about LPT bucks and stocks. We'll get to that next week guys. We didn't have a chance to do it today. I think that was in the title that went out and someone asked, so we will we will jump on that piece. Next week for anyone who's curious about, LPT bucks and stuff. So We tested LPT bucks, obviously, with the Black Friday sale. We also, used LPT bucks for, a lot of our black badge, agents decided they wanted LPT bucks, which is, which was pretty cool. We are looking at making that a more integrated part of the of the brokerage. And so we'll we'll talk about that next week. But long term, we see the LPT bucks being a great way to reward agents for things and, again, giving more agent choice. So that's something that, jumped the gun on the agenda this week. You know, we we kinda got, this last minute, you know, billion dollar marketing campaign from homes dot com re really kinda derailed. I think everybody's weak. You know, I we flew down here without a lot of notice. To to get in and and make sure we were here at, at at a ground zero. But, yeah, it's, it's exciting. So, yeah, we'll be back next week with some news there, but, make sure you get those homes dot com profiles on. Get your last minute tickets to Grand Prix. It's gonna be exciting. I can't wait to see everybody there. And, other than that, have an absolute amazing week, everybody. And, next week, I'll be in Montana. Matt will be back in in Florida. And, we'll be right back here on motivation Monday. Alright. Cool. See you guys.