Good morning. And welcome to another motivational Monday. My name is Matthew Hodge. If you're just tuning in for the very time. I'm the executive vice president here at LPT Realty, and I'm joined every Monday, by Robert Palmer founder and CEO of LPT Realty. We are here today in Lake Mary Headquarters, which is where we are headquartered. L p two headquarters in Lake Mary is actually how I should probably say that. So, how are you doing today, brother? Doing great, man. I'm fantastic. Yeah. I got a little tongue tied there. I say that all the time, and I got tongue tied. But yeah, we're excited to to join with you today. As you guys saw last week, we went over the narrow settlement, the NAR settlement. And if you are interested in seeing that, we posted the YouTube link on there that QR code takes you there. Or you can search on NAR settlement, fact versus fiction at YouTube and YouTube and you will be able to watch the replay there. If you've got additional questions about that. It's also available inside of the knowledge base, but just give me some additional resources if you'd like to to review that or to to share it. So with that being said, how was your weekend? Yeah. It was good, man. Relaxing. Spend some time on the beach with the kids. You know, you remember, like, we we were working really hard getting ready for grand prix. And then the idea was, hey, after Grand Prix, we're gonna take a break. And then, of course, less than a week later, the NAR proposed settlement comes out. So then we all went into, like, get it done mode last weekend and, got it done. I think we we did a great job, you know, kind of presenting and breaking down the facts. We spent a lot of time you know, legal teams and us reading through the settlements, the proposed settlement, all hundred and eighty pages of it, kinda looking at the past DOJ objections to the MLS pin lawsuit. Like, we did a lot of research. And so now this weekend, finally, I got to take a little break. It was it was great. Spent some time in the pool with the kids, and, I haven't had a good time. And then, you know, too, in addition to the the last motivation Monday, we did. We also talked about the NARR proposed settlement on real estate first Friday. And so if you didn't get a chance to catch that, the real estate first Friday is in the knowledge base. I may put that up on YouTube for public sharing. So the the last week's motivation Monday where we did the deep dive is absolutely in YouTube. You can go on to my personal YouTube and and grab that share it. You can scan this QR code. If you want a link directly to the video, just aim your phone at the screen right now. We'll leave it up there long enough your iPhone will then pick up the QR code and give you a link at the bottom of your camera to get directly into that YouTube link. If you wanna have that to share with people outside of the brokerage, Obviously, inside of LPT, you can log in to LPT Connect, and all the real estate first Fridays and motivation Mondays are in, the knowledge base. A couple of things we covered. One, there's gonna be this messy period in the middle, because remember the NAR has not fully accepted. Yeah. This is not fully accepted yet. The the court has not approved it. These rules, while, in principle, have been agreed to by NAR not actually gone into effect. And so we're gonna find ourselves in this, like, messy period right now where consumers are seeing headlines based on what the new rules are going to be. Some agents we see are already trying to kinda do it under the new rules. But you can't fully yet because NAR sixteen sixteen does still exist, which prohibits negotiating commissions with the offer. There's just we're in this weird period. And so I guess I wanna reassure everybody while it is going to feel messy for the next ninety days or so while this is getting worked out. It's gonna get better once once the new play field is set. And so just don't don't let discouragement. Don't let foolish things you see happening, I guess, over the next ninety days. Discourage you from the ultimate result. If you didn't catch motivation Monday last week, you know, I'm I believe this is going to create opportunities for most of our agents I believe it's going to put more control in the buyer's agents' hands to, control their own earnings and to be able to make a decision and say, you know what, like, this is what I personally work for. And if I can't make that, I'm not gonna do business with this buyer. I mean, you have a lot more control over your business, instead of based on the old them, you know, the, the listing agent was negotiating your commission for you, and now you get to negotiate your own commission. So I think overall, that is going put buyer's agents in a better position to control their own business and grow and win. But again, we're gonna be in this weird period in the middle where no rules have changed yet. Nothing has changed yet. But everyone knows it's coming, and the headlines are all based on if it already happened. So just keep your head down. There is gonna be some nonsense, for the next the next three months. And we just gotta we just gotta keep our head down and push through that. The other thing I wanna talk about is, you know, we we took the approach on our meeting about adapting and thriving because that's what I did, you know, back in twenty fifteen when trig came out. You know, a lot of the other brokerages took a different stance to basically say, Hey, here's ways we're going to try to enable the old system to survive through. And at the end of the day, you know, I believe that may be problematic in the final rules that come out, but I wanna reassure everybody. If the final rules do allow for a way within the spirit of the settlement for brokerages to publish commissions on our own websites, to build technology around that. Trust me, LPT will do a better job than anyone else out there. You know, listing power tools is a fantastic place. I mean, we could we could probably in twenty minutes write the code it would take to allow cooperative commissions to be displayed on the listing power tools single property website I've actually got some really creative ideas for some new technology stuff we were gonna build later that we will bring forward that could be the absolute best way to enable, if if if there is this need for a marketplace outside of MLS for brokerages like ourselves to show cooperative commissions. If that's the route this ends up going. Believe me, LPT will will bring the fire, and we will have better technologies than anybody else, built on the framework of listing power tools and the new collaboration, But, you know, I purposely didn't get into all that on on our call last week because I'm one. I'm not one hundred percent sure that's going to survive the actual rulemaking. If there was something the DOJ was gonna challenge, I think it's gonna be around that piece of it, because they really do want the coupled commissions. They really do the DOJ Department of Justice wants the buyer negotiating their commission with their agent and the seller negotiating their commission with their agent and then who pays it? In the end, they don't care, but they want those individual negotiations. That is what Department of Justice wants. If you read all the the kind of filings and things they've done around the different suits. And so that's the approach we took. But at the end of the day, I mean, look, we are agent choice. And while I will encourage you to embrace the changes, as your brokerage, we will absolutely make sure you have the best technology and tools available for whatever things look like once the final rules are published. And so just you know, again, we didn't we didn't go there. We didn't make our whole our whole webinar on on the settlement about, hey, we're gonna publish commissions on our brokerage website. We will absolutely build technology that gives the best ability to do that. So I don't want people thinking, like, we're not gonna just because my personal belief is used to embrace the change. Does not mean we're not gonna arm you with the best tools for how you choose to run your business. Because remember, agent choice, you know, real estate first, like, this is who we are as a broke So I wanna get out there and when we have some really creative ideas. I mean, one, part of me hopes some of that survives because we will be able to bring some absolute fire technology to it. Around helping agents navigate that and cutting down on phone calls. A lot of cool ideas. So we'll continue to watch that. And once we have more clarity, Once final rules are adopted, you know, we'll, we'll share more information there. But, but to me, that was, like, the, that's the obvious route. I try to bring you guys the Right. You know, the the bigger picture, the bigger thinking route, which really is embrace this. Because I do think agents who embrace this are going to have a competitive advantage. And in the end, I I don't think embracing this is not going to be what hurts buyer's agent's ability to get paid. What's gonna hurt a buyer's agent's ability to get paid is is their personal ability to show value and negotiate the commission. And so that's where the tools we are building, in which again, like the the buyer broker agreement system we're building. It was unnecessary until these rules go into effect. Like, you know, now Because really, if if you were gonna be the first agent to go out and I know we have a lot of agents that that do get buyer broker even signed, when I when I had my team three, what, three years ago, we got buyer program assigned on everybody. I'm a big fan of that, but it is going to be a different conversation when the buyer broker agreement is mandatory across everyone. And that's that's really when I think the technology that we are building is gonna be the most effective because it's like, Hey, Any MLS member, any realtor you do business with has to have you execute this form now before they can take you on home tours, Here's how my system works. I can get this done with you very quickly using amazing technology that we're building here at LPC. And so that that's how we think about it. So that's really the approach we took. I got a couple notes. I wanna make sure I covered everything. And then, finally, you know, this does make presentation tools. More important, than ever. Right? And, you know, now that so again, rewind the old the old way, if, if a listing agent, you know, was on a listing presentation and the seller did wanna negotiate the commission down. Right? So, hey, listing agent goes in and say, yep, I'm, I usually get seven percent you know, three and a half for me, three and a half for the buyer's agent. And then the the seller says, well, no, I only wanna pay five. You know, that listing agent theoretically say, Well, that's great. Three and a half for me, one and a half for the buyer's agent. The listing agent had all the control in that situation. And so if a listing agent was not strong at negotiating, they could kind of push it off on the buyer's agent side. Once this decoupled commission system, which, again, is I believe where DOJ is going to push us happens, Now, if the seller wants to negotiate with the listing agent, they are negotiating the listing agents commission more directly. And that's where tools like listing power tools, showing up with the white box, showing up with the active marketing plan, showing up with the nine critical questions becomes even more important And then you flip that over to now on the buy side where, you know, the current settlement says that that buyer broker agreement has to be executed before the first tour you're gonna need great tools, which we are building to show that value in a in a digital only way potentially. Right? Like, I know most of us are very good at, like, going and seeing that customer in person and earning that relationship. But for a lot of folks now, that buyer broker agreement is going to happen before that. The buyer broker agreement may happen purely based on telephone calls or text messages, and that's why we are so focused on building the presentation tools into the technology So that becomes a seamless workflow for your clients. And I'm really it's gonna be a big differentiator. Other brokerages are gonna try to rip it off and copy it, but funny thing is whenever they try to copy our stuff, they don't understand what actually makes it work, and they usually get it wrong. Like, it's not just the fact that there's a system. It's all of the, it's all of the stuff behind it. It's it's the it's the psychology, it's the presentation, it's the tools, it's the positioning, it's the value proposition, which all has to be a part of that. And so that's what that's what we're on here. So if you didn't catch real estate first Friday, check that out again. It's in the knowledge base again. We may put that on YouTube as well. I'm gonna we'll watch again and figure out kinda what we think there. And and again, because we we we we do wanna keep some stuff just for our OPT agents, but this is one that I feel like is broad enough that we really need to help We need help educate everybody because, if their brokerages aren't gonna do it, I'd rather us do it. So at least everybody can get on the same page because there has been so much misinformation on the internet around topic. That's right. That's right. Well, I wanna know if you're actually in the event that the the settlement goes through in the way that you're thinking about it, and you can pull this technology forward. I wanna bet. Do do you think Robert keeps it a secret or does he hold it all the way to the finish line? He never actually makes it. He always leaks it early. Hey. Two point o not get leaked. That's true. That's true. You know, I'm not gonna you for that one. And listing power tools x definitely did not get leaked. That's true. You know, like, I we did did a really good job of keeping it all behind the scenes for, for grammar. This track record's getting a little better. I think, you know, the bigger issue is, like, when I decide it's the right time to share it, will you view that as early or you view that as Yeah. That's a good point. Because, like, with Grand Pre, it's easy. Like, hey, I am talking about this until boom. Right. We're on stage in St. Pete, where this is a little more flexible. Like, hey, this this motivation Monday feels like the right one. The right one. The right one. Cool. Alright. So we've got some, some other updates. I saw some questions inside of there. People were still asking questions around about buyer agent commission, where it comes from. Go back and watch the replay. We explain a lot of that in there as much as we can in terms of what we know now. I know there's still people who haven't had the exposure, had haven't seen that. So make sure you watch that replay. It breaks it down for you and gives you all that you need to know in terms of where we are today. Until things get approved. So with that being said, you wanna jump over to lofty. We got some exciting updates there, to walk through, with, internally within inside the walls of LPT. Let let's jump into lofty. Okay. You know, lofty has been amazing technology, but it's also been a a frustration point for us, as a brokerage. You know, I I think we were the we were the first big client on the enterprise version of lofty, and and we've learned a lot of lessons along the way. And so, look, we we are always here to adapt and move forward. And we have to make changes. We're gonna make changes. And we recognize that there are things that around lofty that we that we have to to change. And so, Dave, if you wanna, get that slide started. So first, I wanna go through some of the challenges that we saw with lofty The first one is the enterprise version is standardized. Right? So everyone has to have the same statuses, the same tags, the same, you know, there's all these requirements, there's shared phone numbers. I think a lot of stuff that that we didn't fully understand when we set off on this journey. And we've worked with Lafayette to try to clean it up where we can. We are close to finally cleaning up our statuses. And so for those of you who don't know the backstory on that, There was a a bug early on where whenever an agent who already had lofty joined LPT, LFTy's import would bring in all of their status names, even if they were duplicative of our existing status names. And so this is where the mess that you see inside of lofty started. And the problem was it's not as easy just saying, well, hey, combine those and delete them because people's smart plans and people's actions and people's all this stuff are based on, even though they have the same name, so if there's four buckets all called hot prospect, they may all have four different sets of action plans and things. So It has been That part's been a struggle. And so again, they they they fixed that, but we're we're very close to actually working on, or actually very to kind of cleaning that up. But we've got some better solutions we're gonna go through today. You know, and so again, we recognize a lot of the limitations, and we're gonna talk through our solutions as a brokerage today and some of the changes we're gonna make around that. Many agents are just taking lofty with no thought because it's free. I'm gonna get down to the stats there in the beginning, but this was interesting. Like, we actually have people getting frustrated. You know, with lofty. Maybe they didn't have a CRM at all at their old brokerage, but they come here And, and they get lofty because it's free, and then they get frustrated with lofty, and then we've actually had people leave LPT because they're so frustrated with lofty, even though the brokerage they go to or came from, doesn't have a CRM at all. It's like that. That's a weird weird spot to put us in. We did not expect to have to offer internal lofty support. You know, we, as we looked at this landscape, we said, okay. Well, we internally will support, you know, connect, and we internally support listing power tools because those are our technologies. We expected lofty, to support the product themselves. So we did not expect to have to build internal life support. Also, with the amount of lofty training that they have and is available on the internet, we didn't think we would have to have dedicated lofty training. These were some misconceptions that that we had two years ago. Coming into this. So then as I mentioned, feeling confused and unsupport around lofty is is actually one of the primary agent complaints we get you know, our our new customer success team, agent six new agent success team. Most of the conversations I've been having with them since They began reaching out to agents, is, is all about lofty. And so then if you look at the bottom, this is, this is really interesting to me. The lack of agent utilization And so if you think about, us, you know, our tech LPT connect, hundred percent utilization. Every agent at LPT is logging into LPT, using LPT connect. Going to the different places in there, only fifteen percent of LPT agents have logged in to LFTy in the last thirty days. And only thirty eight percent of LPT agents have ever logged in to lofty. And so while it is an issue, and it is a frustration point for us, We also recognize that for a lot of people, they either have their own CRM, the way they run their business doesn't require a CRM. Where they joined the team and that team has its own CRM. And so looking at these challenges and looking at the landscape, you know, the question was, well, how do we do we build a path forward to try to clean some of this up? And so, again, we are always focused on continuous improvement. And we recognize there are needed changes. Now, those needed changes, there's there's give and take, right? There's there's pros and cons to this. This is not all just us as the brokerage. And so as we looked at the at the landscape, LPT is the only cloud brokerage that does not have a fee to join the brokerage. And this is something I'm really committed to. If you look at other brokerages, charge one hundred and forty nine to two hundred and forty nine dollars. The joining fee is a setup. That is not a barrier that we want to ever have here at LPT. But we do recognize that put us at a disadvantage when it comes to the CRM issue. And then also, we are the only cloud brokerage without a monthly fee to offer a CRM. So the other cloud brokerages either have a standard monthly fee that everyone pays or they have a dedicated, fee, monthly fee for the CRM. Alright. So we took that into account as we're looking at how are we going to build the solution going forward? How do we try to either improve adoption or just have agents who really interested in lofty, not take the lofty license at all just because it happens to be free. And so if we go to the next slide, We will continue to have no joining fee as a brokerage, but we are going to add a one time ninety nine dollar activation fee for lofty. Alright. And this is This is the negative. Right? This is the only negative side of everything I'm about to take you through. We wanna hit the negative first and get it out of the way. Now for agents who join LPT, they can still join LPT at no cost. If they're joining a team that has its own, its own CRM, then they're fine. Yeah. Any existing agents are fine. This is this is for new agents joining LPT after Four one. So I need you to not, yeah, go back Dave. We're still the other slide. So anyway, so we're gonna add this ninety nine dollar activation fee. The key here is for agents who want the lofty license, we want them to have a little bit of skin in the game. Right? Every other brokerage has skin in the game just to join. We don't wanna do that. We wanna continue to have a friction frictionless path to join LPT, but the one place I we are going to require agents to put skin in the game going forward for new agents who join LPT is they will have a one time ninety nine dollar activation fee in order to get that lofty license. So we can make sure that that person actually cares enough about having a CRM to pay a whopping ninety nine dollars one time. Because what we've seen is people who just take the license and then never log in or get frustrated, has actually been a negative for us as as the brokerage. And then two, that ninety nine dollars, is gonna help us now have an internal lofty support group that we're gonna get into. So next slide, We will continue to have no monthly fees. Alright? So for CRM monthly agents can choose. You can keep the existing enterprise seat at no cost, we are finally adding a new single seat instance where you can control your own stuff for forty nine dollars And then the existing team instance, which we've had is gonna be one hundred and ninety nine dollars a month. So go on to the next slide. So this is what that looks like. So enterprise seat on lofty, that will continue to be no monthly cost, new agents starting after four one, we'll have to pay the ninety nine dollar one time lofty activation fee. Agents can choose to have a single seat instance for forty nine dollars a month. This gives you your own individual lead pipelines and segments you're in your own instance of lofty. Can you scroll the chat down, Dave? And then in addition to that, we negotiated with lofty for the single seat instance to include We're gonna have to take these AI things out of here. It's really hard to keep up with that. We also got lofty to include as a part of our negotiations. The social studio pro which is a twenty dollar a month add on normally. And that lets you do auto social media postings on your listings, lets you create some listing videos and so forty nine bucks gets you both the twenty dollar social studio pro and the individual lead pipeline and segment single seat instance. So again, this is your choice. That's a big win because I know we've had agents who were buying the team instance overpaying dramatically because they needed those individual pipelines and segment which, which gives you some additional options there. And then finally, the team instance, which the team leader pays one hundred and ninety nine dollars a month, which includes unlimited team members, which is actually a really great deal. Like, if you go look at other CRMs, the idea that as a team leader, you can have the their own team and sense of lofty for one hundred and ninety nine bucks a with unlimited team members in that instance, big win. So this is now going to be the landscape going forward, at LPT. Alright. So enterprise seat, no monthly costs, single seat instance, forty nine dollars a month, individually pipelines and segments, So it's just Studio Pro include an additional twin r value. And then finally, on the team instance side, one to nine per month, individual pipelines and segments, team lead routing, and unlimited team members, And then two, we are now going to be building this internal lofty support team. Next slide. So we're gonna have an internal lobby support team. Internal exports to provide what I'm calling supplemental support. We're not here to completely Yeah. The enterprise seat still includes the website, your own domain name. Everything that you get today on the enterprise seat, you will continue to get. We're not taking anything away from the current enterprise seat. We're just adding that ninety nine dollar one time activation fee starting for new agents after four one. So the internal office support team, internal provide supplemental support. Again, we are not here to try to completely replace, lofty support. We we came do that. But we are gonna have internal support to help. To jump in, to try to be a bridge. Again, we're gonna have some staff here because we recognize this, this is a need. They're gonna help manage the enterprise instance. So the AAC, our technology AACs has done an amazing job trying to help navigate this, but we recognize we need dedicated staff who can really be that point to, you know, be the squeaky wheel to lofty as we're trying to get things done, help drive this clean up of the stages that we've been actually working on for, like, a year over a year now, to finally drive that to, to the kinda, the endpoint to help agents as they're transitioning. You know, if you do decide to upgrade to the forty nine dollar plan, you know, talking through what that looks like, do you start from scratch? Do you try to upgrade and import your data? What is that gonna look like? And then to conduct more extensive internal lofty trainings. So again, Well, right now, we we don't host any real lofty training. We have a couple little things here and there. We're going to now have, dedicated LPT specific lofty training, that will be held, you know, weekly, daily, stored inside of Connect. And again, all of this going to be managed by this new internal lofty support team, that we are hiring for. And so, again, there's, there's, right, there's give and take here. You know, we're asking new agents to pay this nine activation fee, but we as the brokerage are giving back a higher level of lofty support and more options now around the single agent instance the team instance and obviously the enterprise, seat, which will continue to remain no monthly fee. And I feel like this was really the best compromise. Like, like, we we looked long and hard at this anytime we're gonna ask for anything new from you guys, like, I take that really seriously. You know, we've had a lot of internal conversations and we really felt like I feel like we struck a really great balance here. In in providing value, having agents put a little bit of skin in the game to get lofty license. And I think that this framework is going to really help us open up, more opportunities in the future. Lofty is is telling us that this will be pushed out because they had to they had to write custom code and build this new framework out because this is This is an LPT thing. Like, we worked with them to design this. Originally, they told us it was gonna be in like the April fifteenth release. Then I got an email last week that says they're moving it up to the March thirty first release. So I'm gonna tell you guys that somewhere between March thirty first and April fifteenth, the new the new instance options will be, available. Alright. And and again, the old enterprise seat remains the same. No monthly fee. But new agents joining will have to pay the ninety nine dollar activation fee no matter which of the three plans they're going on. Any new agent joining LPT after four one who wants lofty through us will pay a ninety nine dollars one time activation fee. If they don't want lofty or they have their own CRM, they can continue to join LPT for absolutely free. Alright? Yep. That's great. We've had a lot of If you can come back off the slides, Dave, we'll get to this one in a minute. We've had a lot of positive feedback from the team leaders who have gone over to the team to the to their own instance, for the control that they forgot with inside of their team, the way that they want to set up action plans, things like that. We've heard a lot of lot of positive feedback So if you struggled with the current setup and that's something that you desire to have, please know that that's what that will do. Give you your own instance. You have the ability to have your own stages, pipelines, automations, all of that just for you and your team. You can build that out. Right now, it won't be in that kind of that that shared enterprise plan. And then also the same thing for the single instances if you're a single agent or a small team, that's what you wanna do. You wanna have all of your own automations. You don't wanna see anyone else's information that will be there for you. So I think it's a great compromise because if you were to go outside of, you know, LPT and purchase those things, it would be much more expensive. And so we always talk about we have to kinda get to that right size and that right scale and we use that corporate cloud. I guess you could say to strike the right deal for our agents. I think this is another perfect example of that in play. Yeah. I I saw some questions about follow-up boss. Yeah, we we started those negotiations before Grand Prix last year. And then they kinda went quiet, and we we later came to understand that quiet period was driven by their acquisition by Zillow. The core issue we face as a large brokerage with with follow-up boss is their instances are only built to support around seven hundred agents, somewhere in there. Like, they don't have a hard number, but what happens is after you get more than about seven hundred agents on a single box of follow-up boss, the the the performance really starts to get get bad. And and so what happens is as we were negotiating the pricing, every time a new box has to be spun up, the pricing starts over. And so it's this weird thing with follow-up boss where we're like, okay, your first hundred agents on a boss are, on a box are gonna cost x, and then the next hundred are gonna cost y. And then, yeah, then it gets affordable up here for the next couple of hundred agents. But then once you hit that seven hundred mark, now you have to start And it's, and it's now in a second box. And now we go back to the higher price. And we just, we're never really able to make that work. And so we tried to challenge them and say, look, do we build something that can scale with us? How do we make this work? Because then two, for us as for us to try to support, like, which box are you on? Like, you're And then you join a team, and the team you join is on a different box. There were just a lot of issues like that. And and I felt like we were kinda starting to get somewhere but then again, the Zillow purchase, and and look, and we've we've talked to Zillow about this. You know, they're more focused right now on some other projects internally. Like, they obviously bought follow-up boss for a reason. To be able to build technology to support the Flex team. So that's really where their focus is. We're not gonna give up on that. We continue to work on it, but again, it's, it's just not something we control you know, KV core, the other CRMs out there, I think that with this new framework, where we can now start to see, alright, with some skin in the game, what do the adoption rates really look like? With us having the internal support team. What does that look like? Can we start to build a better a better process and experience around this for our agents And then at that point, to then go out and have conversations with other folks, you know, sync real geeks, KB core, kind of across the board, definitely things we're open to. I will tell you this. Chime Loffe is who we are committed to for that free enterprise seat. So anything else we did negotiate would fall into more like the forty nine bucket solo agent plan or the one ninety nine team plan as we think about the framework we're building out today. But again, we're it's something we are focused on. We continue to have those conversations. The bigger we get, the more ability we have to have those negotiations. And, you know, and showing kind of the growth we've had, obviously, is amazing. So, absolutely, we're gonna continue to to look at, again, we're agent choice. We wanna provide you guys more options. But this is where we sit today. And this was a big leap forward, but just know, like, this isn't it. We're not done. We're not saying, Okay. Now, we don't have to worry about this ever again. We will continue to always look and see how to improve and add as much value as possible, for you guys as your brokerage. Alright. Fantastic. Okay. Looking forward to those changes. I think you said the time frame is between the end of March and sometime mid April. Yeah. Again, outside of our control, but those are the dates that we are being given right now from lofty. So, alright. Looking forward to that. Okay. Well, I know there was some additional kind of, items on the on the docking for us to discuss. There was a challenge I went out over the weekend. Yeah. This was interesting. So if you wanna throw up this slide, so I I got I got I got a weird reach out early early Sunday morning. Like, Sunday, like, six thirty. I had somebody ask me. I think I forgot they phrased it. Like, could I define LPT's vision for culture. And, and so I rattled this off pretty quick. I rattled this off. And the funny thing is I rattled this off instantly and I wrote it down. And then I tried to go back and, like, decide, like, do I need to change this? Right? So I sent it to you. I sent it to Lewis. I sent it to Matt Levy. Tracy, I had my wife look at it. And and in the end, the thing I rattled off first is exactly, I think, where where we live. Agreed. And part of the reason this was so easy to rattle off is because one, like, in building out Connect two point zero and designing that, this has been very top of mind for me. You know, I've shared the stories about Reagan and Mine's conversations, about community, understanding the difference between culture and community because they're not the same thing. Like, the culture in your community are different. They drive each other. They're interconnected, but they're not the same thing. And I think sometimes we use those two words interchangeably too much. I know I did. And so this is where we landed. A single connected community focused on real estate first, empowered by agent choice, and collectively building a better future for each other's individual definition of success. Alright. And if you think about this real estate first, agent choice, individual definition of success, and single community, those have all been part of our vernacular from day one. Day one. Before we even launched, we were talking about those as our core values as a brokerage. And so seeing our core values as a brokerage that we envisioned two and a half years ago, then laying the foundation for the culture that we've all built together. Because I can buy into this all I want, but for it to become our culture, you all have to buy into and you have to agree. And seeing now two years later, I'm proud of the fact that that original vision has absolutely come to fruition, and the only word in here that is new is connected because this idea of connecting the community was not something we were focused on. You know, this was what Grand Prix was all about. Building two point o, building the software to connect the community. I I missed that. You know, I missed our need or the the need for us as the brokerage to be provide the software to connect the community and that we would have to go build that. We weren't gonna be able to just go buy workplace like everybody else did because I don't think it can truly connect the community. And if you think about that too, you know, I showed you guys the adoption rate on lofty versus the adoption rate on connect. And this was a big part of why we wanted to build the community directly into Connect because Connect has a hundred percent adoption. Everyone is using Connect because that's how you get paid. It's where you find W9s. It's it's, like, it's everything. And so I really would be curious for these brokerages that are using workplace What is the adoption rate at workplace? Because while, yeah, you can get to lofty by clicking one button inside of Connect, still most agents aren't By having our connected community live directly inside of Connect, the only software inside of this brokerage that will always have a hundred percent adoption rate is just so powerful because the minute you move it out into a third party into workplace, the adoption rate is going to drop. It's gonna drop by something thirty percent, forty percent, fifty percent. Sixty percent. Who knows? And so this was why it was so important for us to build it integrated. And so, again, I'm really proud of of that statement that we rattled off. I'm proud of the culture we've built. And we're going to be building a desi image of this so that you can put your face on there and you can publish this and basically say that you support this culture. You're committed to this vision for culture. And and when that comes out later this week, I wanna I wanna see social media get flooded with that graphic because I'm really proud of this. But again, my my vision and my commitment to it, our vision and our commitment to it at the at the leadership level, mean nothing if you all aren't committed to it. And I know you are. I believe you are. I see that you are in the way you all interact with each other. And so, the desi graphic that will be coming out later this week. So that you can put your picture on there and basically post saying, Hey, this is this is the vision for culture that I am committed to, and I'm really excited about Awesome. Now, before that, we have another desi graphic that I wanna see really flood the internet, and that one is actually available right now. If you log in to Connect right now, if we can get this slide up, Dave, if you log in to Connect right now, and you go over there to left side and you click on featured graphics, you're gonna see this beautiful graphic because we have officially hit ten thousand agents here at LPT Realty. We we we We were a little busy to talk about this before today. There's been a few things on our mind. So today's motivation Monday, we're officially unveiling the LPC Realty reaches ten thousand agents Mark. Big milestone. And, again, while, while growth is not our primary focus is crazy as that sounds, we seem to be really, really good at it. And that's a testament to all of you guys. I think it's a testament to that vision for culture. It's a testament to our commitment for technology. But more importantly, it's a a testament to the amazing agents that that have come and bought into this vision and and bought into everything we stand for here at LPC Realty. And we are absolutely winning together. And so, you know, we we unveiled an absolutely amazing number a couple weeks ago at Grand Prix. But today, we are officially unveiling the big number ten thousand. That that extra that extra digit in there looks fantastic. So you can, you can jump into, connect You'll see that if if you don't see it generated, you need to, you need to recrop your headshot or maybe you don't have the right headshot cropped. For that, that image generation, but those are gonna be there. And, I'm, again, I'm really proud of you guys. This, this has been an amazing two year journey. You know, right here at two years and one month old, you know, starting in, in February of twenty twenty two, soft launch, you know, official launch eight eight of twenty twenty two. And here we sit in March of twenty twenty four absolutely winning together. And winning together in what's been a tough market. You know, it's been a a market with headwinds. We have not had a lot of help from the industry. We have not had any help from the fed. We have not had any help from our peers and competitors. We have done all of this, in spite of the circumstances around us. And again, I'm I'm so proud to be in business with all ten thousand of you as we as we build this amazing brokerage together. Awesome. Awesome. Well, we are about at time, but just wanna kinda get some some final thoughts one, as I hear a lot of agents asking around, you know, questions around the NAR settlement and probably what that means for them. Know that they are probably getting a lot of questions from people who are reaching out to you concerned about, is that gonna affect your business? Is that, you know, or or maybe it's self serving? Like, hey, am I gonna be able to get your service for less. Some some variation of that question. But just remember, be positive. Of course, you can run your business as you'd like. But I'm not a fan of going out there and trying to say, well, hey, look at all the things that realtors do. And this is, you know, just go show your value. You are the most valuable part of this transaction. And that will that will shine. We're gonna continue to give you the the vernacular and keep you up to date as these, you know, I guess settlements get approved so that you know exactly how to position yourself. And then, of course, we will always build the right tools to help you with that workflow. So that is a great experience for your for your consumers. So, be out there. Be positive. Nothing changes today. Continue to do the work. And that's kind of my thought as I as I always talk to agents about this who are concerned about it. Don't do anything today. Continue to show your value. Be prepared for what's coming, of course, but that doesn't change anything today, and you'll continue to win. So, Robert, what are your what are your final thoughts? Yeah. It is interesting. You know, has shown how powerful this weekly brokerage meeting called motivation Monday has become because it's not like, oh, let's schedule a special meeting. Because something is changing. I remember early on, I remember us sitting around thinking, like, are we gonna have something to talk about every week? Are we gonna run out of stuff to talk about? And the amazing thing is there's just so much stuff happening. But I'm really proud of us saying we crash connect. I love it. I'm gonna I'm gonna go work with dev and we're gonna have to get a bigger server. I will happily I will happily buy those bigger servers to celebrate this milestone. But yeah, so bear with it. If if Connect has crashed, it'll be back. We'll get it back up soon. But We just sent everybody beating on it at once. You know, and so it is amazing. Like, I don't I don't know any other brokerage that has this type standing, you know, brokerage wide meeting at the cloud scale that we have with this many people, and it has been so fantastic. Week, because we're not having to try to schedule special meetings or put things together when something changes. Literally, like, there's not much that can't just wait till the next Monday. And everyone knows, and everyone can be here. And I think that just has been so powerful. So know that whatever changes, we're gonna talk about it, within seven days or less. You know, the the absolute worst time for news to break is like twelve o one on a Monday because now we gotta wait a full week. A full seven days before we can address it. But, you know, but other than that, you know, it really is exciting. And so no matter what's going on, we will be here every Monday with you sharing updates, as we get to this finish line together as the settlement does become, you know, finalized and approved. If department of justice does file an objection, like, we're gonna be watching for all those things, and you can feel confident that we're gonna break them down for you, right here every Monday. So I'm I'm proud, I'm proud of this. I'm proud of this show we call motivation Monday, every single week. I'm proud of, again, of our leadership team. I'm proud of each and every one of you guys. I just, you know, I could not be more proud of what we're doing together here at LPT in the face of what has been a tough market and a lot of changes, and and we are we're here to win together. We're here to get through this together. You know, we're here to help each other. And build a future defining each other's individual definition of success. That's right. You know, that is who we are. That is what LPT is all about. Real State First single connected community. I I love everything about this brokerage, and I love everything about you guys. So go out there and have a great week and crush it, and we'll see you back here next Monday on motivation Monday.