Good morning, and welcome to another Real Estate First Friday.
I'll make sure you guys can hear me okay before we get started. If you just give me a thumbs up on either the chat or reaction, perfect. Fantastic. Louis, you wanna give us a shot?
Look at it. Mic check. Mic check.
Hello. Right here in between us.
We're joined this morning by Larry the bird. That's awesome.
Kinda get his little legs fixed up right here. Alright. Good morning, guys. Welcome to another Real Estate First Friday.
My name is Matthew Hodge, executive vice president, joined by my co VP, Lewis Furman. And, as you guys know, this week has been all about where am I looking right now? Am I over here? Okay.
That there. Okay.
This week has been all about, buyer's broker agreements and, from a couple different aspects. One, what does it look like in practice? How do we start talking and converting our our customers who we're currently working with who are not under a BBA? Maybe we started working with them thirty, sixty, ninety days ago, whatever this center may be. And so we've got to get them to sign. What does it sound like as we're meeting new people?
So, hey, this is someone that is where you're gonna meet after, starting tomorrow or onwards, and you're going to have to get that engagement. You're gonna have to, you know, basically articulate your value proposition so that they're comfortable working with you and making sure that that goes smoothly. And then what does it sound like from a conversation from the sellers? So we've had classes all this week kind of breaking all those things down. We've had basic NAR one zero one changes which is holistically what is changing about the industry kind of fundamentally. And then we've had classes that say, you know, how do we turn this into opportunities.
And so we are gonna take kind of little snippets from all of those piece to give you a short condensed version on basically what you should be focused on. As you guys know, we're always here for real estate first, which means that we wanna arm you with the most up to date tactics and conversations so that you can go out there and make the most of your business. Not just, do what we're doing today, not just not stumble or slow down, but how do we use this opportunity to grow and to thrive. So that's gonna be today's conversation. Louis, I'll turn it over to you kind of for initial thoughts.
Sure. Yeah. Absolutely. So, yeah, this this week has been jammed packed with, you know, having conversations regarding a lot of changes that are taking place with the whole NARS settlement.
And a lot of you may be may be lost. Like, you know, it it may be hard to organize all of this information. Here's what I would recommend as you're kinda evaluating where you are in this transition. You know, step one is, you know, getting a generalized understanding of, like, what the changes are.
You know, understanding that now commissions are no longer gonna be advertised on the MLS. You know, understanding that now a buyer broker agreement needs to be executed prior to touring a house. You know, understanding what are the elements, in order to have a buyer broker agreement executed. Remember, that's working with your buyer and then entering a home.
You know, I would first start off by, you know, looking at those classes that we've done. You know, the NAR changes one on one classes is where we go through the generalized changes that are taking place with the NAR settlement. So that's where I would begin. Right?
And if and if you've mastered that and you have an understanding of what those things are, now you move to the second stage. And here's my recommendation for level two, and that's going to your state specific changes. Right? Going to your state specific, understanding what your state specific contracts look like, and understanding how to fill out those state for specific forms that are correlated to those generalized NAR, changes.
And then the final step is now evaluating, you know, how do you enter into this new world and looking at it as an opportunity? How do you set yourself apart and using this as a way to, you know, excel your business forward to, you know, maybe do things that maybe you were not doing, you know, before. So that way you can again set yourself apart and enter into this new world with a competitive advantage, that unfair advantage that we always talk about. You know, again, there's been a lot of changes that, you know, we've we've discussed during this week.
And and as we're going through this week and going through next week, the one thing I would caution all of you of is never forgetting the basic principles of of real estate and of negotiations because a lot of those things do not change. You know, we've had scenarios come up. Well, what happens and how do I negotiate a deal now with a buyer agent commission? Sometimes we just have to take a breath and go back to, like, what are the basics of negotiations.
Right? Like, let's say, for example, you represent a seller and a buyer calls you and says, hey, are you willing to entertain seller concessions? What is going to be the response? The response historically was not going to be, no.
We're not gonna entertain a a seller concession offer. You're probably gonna advise the buyer, yeah, write up the offer submitted to us. Number's gonna talk, and we'll discuss about it during negotiations.
That's the same thing that will likely apply if a buyer's agent's reaching out to you. Hey. Are you guys going to be offering a buyer's agent commission? Invite that contract.
Invite that offer because once the property's been toured, you know, that's the core principle as the listing agent is inviting written offer. So that way, you now have something that you can present to your client and hopefully get that across the finish line. You know, if if if you're have a listing that's active on the MLS, what is your core fundamental, you know, goal is to get as many people to the property as possible. So if buyer's agents are reaching out to you asking questions regarding buyer's agents commission, I would caution you to not say things that would preclude somebody from going to the property.
You know, you wanna invite as many people as possible to the house because once the buyer's there, they're gonna get emotional. Right? Numbers now start becoming a little bit less important for those buyers because now they're touching and feeling and experiencing the home and you wanna get those buyers there. When it's time for getting offers submitted, don't say anything that's gonna preclude those offers from coming in because, again, you never know how the negotiations are ultimately going to go.
And then lastly, you know, it's still just the numbers game. Right? You know, when an offer comes in with a buyer's, agent commission being proposed in the offer, you know, it's no different than if a seller concession would have came in. Let's say, for example, it's a three hundred thousand dollar offer price.
If, you know, three percent in seller concessions is a nine thousand dollar concession, that's a two ninety one, you know, price essentially. If it's three percent in buyer's agent commission, it's essentially a two ninety one price. So it all equates to be the same thing. So when we're having these conversations with the seller, it's still a net game from their perspective, and the same goes to the buyer side.
Right? You know, if if, let's say, for example, once all of your commissions are roped into the transaction, the buyer's, closing cost is fifteen thou fifty thousand dollars. You know, if you ask for that same three percent on a three hundred thousand dollar deal and the seller agrees to it, what is the buyer's cash to close? It gets reduced by that nine thousand dollars.
Their cash to close is now forty one thousand dollars. Let's say, for example, the seller's only agreeable to give you two percent in buyer's agent commission, but they are also agreeable to give you a one percent in seller concessions. The math works out to be the same. You're gonna get six grand in buyer's agent commission, which means that the fifty thousand cash to close for the buyer will be reduced to, forty four thousand.
And then another, three thousand will go to that forty four in seller concessions, which means that the cash to close is forty one thousand. It's the same math, guys. So, please, like, as as we're going through these changes and as we're understanding and going through what are the generalized trainings, what are the changes that are taking place for the state specific, you know, level? How am I gonna, you know, implement a competitive advantage in this new world?
Do not forget about the fundamentals. Do not forget about the principles of negotiations as you're transitioning into this new environment.
Very well said, man. And, you know, great great examples in terms of how it's really just the same. You may be calling it different. You may be calling a seller concession and, you know, you're just it's just same same thing, different different way to get there.
One thing that I want to, one thing that I wanna also answer real quick in the question is, Ben says, I would like to know if the BBA form is in dot loop, and do I need to create a loop for it? Yes. The the form for your state, I don't know what state you're in, but that has been inside dot loop for a few weeks now. So you can go inside of your dot loop.
You can go to your your state forms, and you will see the BBA there. So I'm not sure what state you're in, Ben, but, that has been there for several weeks. We will be releasing over the next week, some specific language that will be, our our rendition of it. We've been meeting with a lot of attorneys, and, we kinda talked about this on this morning's BBA Coffee.
Robert Palmer was talking about the founder and CEO, was talking about, some of the things that we have changed inside of our language. One of the forms that we changed was, the fact that there are some of the language on the the form that we changed was that it was only a place for a percentage of commission or a flat amount. It wasn't a percent of commission plus, you know, a transaction fee. And so there's gonna be tons of transactions that people have done who technically have not put that in there.
Right? It doesn't give you the opportunity to say three percent plus the way that it's written right now. It just says what percentage or what flat amount. And so our form says to percentage plus whatever you would like to choose for your transaction fee.
If you choose not to select that, it doesn't show up. But that's another example of rushing these forms before you really have looked at the real life application of it. It you there's no there's no advantage there. You don't need that to get started today.
That's not what's really what's happening. The most important thing that you can be focused on today is educating yourself on the process of what you can and cannot do. We've already heard scenarios of people being fined immediately five hundred dollar fines for, you know, having, language inside their MLS agreements. I'm sorry, their MLS listings that was not, that was not allowed.
So that is already happening. We've seen people submit offers who didn't have BBA signed or who weren't negotiating their commission, who the seller was like, okay. I'll accept your offer, but just to let you know, there's no, you know, there's no agreement for compensation here. We've seen people already start to get those things wrong.
No technology is gonna get you around that. And so it is important to understand what to do today as we transition. So one, like Lewis outlined before, the conversations that need to happen with the people that you're currently working with and how to arm yourself with the future conversations of people that you will be having will be working with. But then two, what is the correct documentation and forms that you need so that you can, you know, make sure that you're protecting your commission?
Those two elements are where you should be focused right now. So, thank you for breaking that down for us. I wanna also let me just scroll to the chat to make sure we don't have any other questions.
Larry the bird should have a mic.
That's We're actually in the process of finding a ventriloquist.
So if you have those skill sets up, please raise your hand in the chat, and we'll send you a interview application.
Let's see. They are all in dialogue. Okay. It looks like there's no more questions in the chat. Okay, guys. Well, if you do have any questions, again, try to stay away from any state specific stuff because that's such a tongue tie for me.
So, state specific, questions because there's, you know, a lot of different states on here. So we won't get in too deep into any state specific questions. That is a question for your broker, but we will answer any high level overview questions. Some of the questions that we saw from this morning's classes where, you know, what happens where can I put, you know, a percentage?
If I choose to do that, where can I put that percentage? If I put it on social media, is that an issue? If I put it on my own personal website, is that an issue? And so we kind of walked through those things, which is like, hey.
If it is your listing, you can actually have it on your own website. You can put it in a blog. You can put it in other places. You cannot put it inside the MLS.
You cannot have any description in terms of percentages inside the MLS. That will get you fined. I know here in Stellar, which is, I think, about seven of our states, it's a five hundred and fifty dollar fine. First time, no warning.
So, you know, you know what you can and cannot do. And so, again, the best practice around that though is to say that you are open to all negotiations, including, you know, commissions. Or if someone calls you and says, hey. Is your seller paying a commission?
You'll say, yes. Of course. My seller is open to all, you know, negotiations, and that includes commissions.
If you think there's a value to saying a percentage, I personally do not. Of course, this is your choice. I believe that the goal here is to try to get as many people through the door as possible. So keeping that open because someone may have a BBA signed at two percent.
Someone may have one at three and a half percent. We don't want someone who's showing, you know, has assigned a three and a half percent to not show the property. Right? What we want to do is just say we are open to all negotiations.
We're open to all offers of in of compensation and negotiations. Please submit it along with your offer. And then let the seller, the only person who can make a decision on that, say yes or no or whatever that's gonna be. And so, again, it's really about just removing us from that middle piece and not starting to make decisions on behalf of the seller or the buyer when that's not really our position.
Our position is to communicate their wishes, to help them navigate the waters, but it is not to start putting words in their mouth or say, hey. My person's not gonna wanna do that because you don't have dinner. And Robert coined the phrase, never take no from a person who does not have the ability to say yes. So if the person cannot give you the yes, they do not have the ability to tell you no.
So, I thought that was a a nice little nugget that he dropped.
Yeah. Definitely. Yeah. And I and I also wanna share this story from a a conversation I had with one of our agents yesterday.
It was funny because, again, we we've been dealing with this for the last few months and, you know, we've the anxiety has been there. The stresses has been there. Hopefully, this week, we've been able to eliminate a lot of the anxiety and stresses. But this agent basically indicated to me yesterday, like, he finally got the epiphany that he can actually finally do the things that he's always wanted to do to articulate his value as a buyer's agent.
And I'm like, elaborate a little bit more on that. Like, what do you mean? He goes, you know, I've always thought about doing different things in terms of being able to show my value and not be vulnerable as a buyer's agent because he's lived that world where he's worked with a client, he's toured multiple properties. And, you know, at the very finish line, the buyer goes on a third party portal, sees a property that they like, and they go see that one house with this different agent, and they become the procuring agent and he loses the transaction.
He goes, now that documents are required, now that these buyer auditions are required and buyer broker agreements are required, I can finally now sit down and have that articulation of value and create that very much purposeful approach that I have mastered on the listing side. And now I'm able to push that to the buyer side. He's like, before, I always felt like I had to hurry up and get to the property. I had to hurry up, get to the property, go on tours with the buyers.
I wasn't able to calmly articulate my value. I had to find ways to be able to communicate that value in the midst of those showings. Now, I'm able to create a much better organized process because the industry has afforded us this forum. And now I can come out and shine.
And, you know, that's a perfect example of how this is now creating that opportunity. You know, you are now in your driver's seat. You know, a lot of these risks that we face before in the industry with buyers maybe finding another buyer's agent at the very end of the process and us losing out on it, you know, that gets minimized now, that gets reduced now because that new buyer is going to have to go out there and, you know, get a buyer broker agreement executed. Right?
So he's gonna have to find a way to have these conversations and so forth. So now that these hurdles exist for that person who's trying to come out at the end, it protects you. And then, it also creates a dynamic in which if you perfect this skill and you are able to communicate this effectively to your clients, you will set yourself apart from other agents. Like, we're we're already hearing stories with maybe colleague agents who are, you know, saying that their strategies is to open up their tablets and and play a video for one of their clients, and that's gonna convince them to execute a buyer broker agreement.
If I was an agent, I would wanna go against that agent because if I'm going up against an agent who's gonna play a video to try to show the value versus me here articulating my value, I feel like I will win nine out of ten times. So, you know, do not depend on, you know, things like that. You're gonna maybe hear from colleagues that, you know, those are maybe the strategies that they're taking. They're gonna play a video, play a YouTube video.
That's why you have to sign this, sign on the dots. No. You know, you go in there prepared because you go in there prepared, you will have that competitive advantage. Imagine if you went to a listing presentation and said, hey, thank you for bringing me here for for a listing presentation.
I'm gonna open up my laptop, play this video. I'll be back in thirty minutes. I can almost guarantee you will not win that listening agreement.
You're gonna go back to a locked door.
You're gonna you're gonna go back to that locked door.
You know, so, you know, you know, perfect this skill. You will have that advantage because agents out there are not going to be doing the same. And, you know, you're gonna wanna compete against those agents because I can almost assure you, you will probably win in those circumstances.
You absolutely will. And so, let's let's talk through what an interaction can can look like. You're already working with a group of people. They know who you are.
They're seeing your value. That's a much easier conversation. But let's fast forward to next week. You know, if someone reaches out to you, they would like to purchase a home, and you're gonna start this with a brand new process.
Hey. I don't really know this person. They reach out to me. You got introduced to them some kind of way.
Maybe they're Internet lead, whatever.
And so you're now going to have a buyer's consultation, which is my recommendation.
And, you know, that was something that I did earlier on in my career is that I did all buyer consultation when I started working with someone. And it wasn't till later on that I stopped doing that just because I felt like I got good enough to start putting my, my expertise through people that were contacting me. So they knew more about me as they were as as they contact me later on in my career and that's why they were reaching out to me. In the very beginning where I was meeting people at open houses or I was trying to pick people up, they knew less about me.
I had to have this buyer's consultation to prove my value. And so let's think about you meeting someone right now. If you go there with your seven home buyer strategies and you show up like that and you say, hey, listen. I wanna take a few minutes real quick just to walk you through.
I'm gonna provide this magazine that has my, you know, my face and my information on it so you can understand kind of how to purchase through this environment. This is gonna give you strategies on the actual purchase But let me walk you through real quick what's happening in the market that you may not be aware of. Or maybe you've seen some headlines. So let me go ahead and, you know, bring some clarity to what actually is happening.
This is amazing thing that has happened in the industry. It gives us the ability to actually be more competitive when we go out there and purchase your home because that's the reality of it. It does give you more competitive advantage if you are the right agent and know how to spend those things. If you know how to create value from those things.
If you know how to have negotiating power to talk through those things. And so this is a positive opportunity for you to highlight those things. With me, I'm going to I'm a, you know, negotiation expert. I know this area.
I know this contract. I know, you know, whatever you're gonna point that at, and this is why you're gonna be secure and successful with me. So go ahead and take this, collateral. This is gonna walk away with some information that gives you strategies on how we can think about purchasing in this high interest rate environment.
We have seen interest rates come down a little tiny bit, but we don't we're not sure how long that's gonna last. But let's either way, let's start to digest this information together so we can formulate a strategy that helps you be successful to accomplish whatever your goals are gonna be. That's the type of person that is gonna get more and more deals done, who has the ability to articulate what's happening, who is showing their value, who is using the tools that's to show up differently versus someone else who has to point to a third party resource. Hey, watch this information video over here and then when you're finished digesting that, come back to me and that's gonna tell you why I'm valuable.
Like that, if you choose to do that, I'm not knocking you. You may feel comfortable doing that, but I don't believe that's my personal opinion that that is the best approach. I think that you are the special sauce. You are the one who are they are hiring.
They're not hiring OPT. They're not hiring Lewis and I. They are hiring you, and they love and they trust you. And so that information has to come from you.
And so I don't believe that there's any technology that can can substitute for that. There's no forms or anything that you can just send and get yourself around this conversation. Now a year from now, two years from now, when it's normalized, yeah, we're it's not gonna be a conversation at all. People are just gonna understand that's how it is.
But what we're focusing on is what is a transition period look like? What does a transition period look like for the people you're currently work with who the relationship's changing because now you have to have this paper that when you first started, you did it. Or what does it look like for the guy who's like, wait a minute. I purchased two houses.
I never had to sign anything before. I'm not comfortable with this. That's the guy you meet next week. It's the transition period.
Two to three years from now, everyone's gonna have done that and it's gonna be normal. It's not gonna need this explanation. But then that is what creates the opportunity. It's the change in this environment that creates the opportunity because the people who can talk about it quicker, the people who can explain it more succinctly and fluid, those are the people who are gonna get more of an opportunity to sell more deals than the people who stumble along.
And so we talked about this also this morning that even at the executive team talking about this and explaining it so much over the course of the last couple of weeks, we've gotten so smooth in the way that our delivery is. When I first talked about it on the very first motivational Monday, I was stumbling over my words because it was the first time that I had really thought about it. It's the first time I had said it. I wasn't any type of speech pattern.
I was still literally thinking about what I was saying while I was saying it. And so right now, I've said it so much that it's just the way it is. Of course, I know what's needs to happen. That develops a speech pattern and a comfortability that people will resonate with.
And so, again, start having the conversations now. Have it with your friends. Ask them, hey. Have you heard about the settlement?
What do you think is happening? Try to explain it to them. Explain it to your other, you know, fellow agents. Talk about this as much as you can because that will arm you today with skills that most people will not have if they're not concentrating on it.
Yeah. We're definitely getting that question right. Like, how how do we articulate value? How do we communicate value?
Remember, you you you communicate value by showing your buyer and giving your buyer the confidence that you are ultimately going to achieve your buyer's ultimate goal, which is finding their dream home or finding the property that they wanna find. And and and there's a a few things there. Right? It's finding the home, finding the property, giving them the confidence, creating that organized road map for them.
One of the easiest things you can do as you heard Matt mention is putting your buyers on a buyer consultation and then creating a cadence around that. Like, that simple organization strategy where you are, you know, taking control of the of the driver's seat. You are in the pilot's seat, and you are showing the buyer that you have control over this will exert confidence. Like, imagine this.
Right? You get a you get a buyer lead. You do your introductions. And at the conclusion of that call, you schedule the next follow-up with them.
And and you create the timelines. Right? You know, let's say, for example, today, you get the lead. You've indicated in your intro call that the buyer's available to go tour homes next Wednesday.
You go, okay. Perfect. We are gonna pencil in next Wednesday as our first tour date, but here's what we're gonna do. Between now and Monday, I'm gonna send you properties.
I want you to favorite homes like homes, etcetera. And on Monday, we're gonna have a meeting in which we are going to discuss the properties that you found in preparation for our tour on Wednesday. Now you have two dates in the horizon that that buyer is going to be looking forward to and you've given them now homework assignments. Monday rolls around, you're gonna have a consultation round number two with your buyer.
And now, we're blessed to live in a world of technology that we have Zoom. I would even encourage you guys to have that intimate relationship with your buyer where you schedule a Zoom call. Go on camera. Don't be shy.
Make it much more personalized. And now, again, you are exerting that confidence. You are giving them the homework assignments. You are giving them the plan.
You are giving them the road map. They're feeling comfortable with you. And now you're able to strategically monitor when is the most appropriate time to interject that buyer broker agreement. It's like buying a car, you know, you're taking them for that test drive.
Right? They're understanding your skill sets. They're understanding your value. They're understanding your worth. And now, when you have to whip out that document, it's gonna be much easier.
And now, Wednesday rolls around. You tour the property. Let's say, for example, they do not like any of the homes that they see. Put them back on that cadence.
Hey. It's okay. We did not see anything that you like. When are you next available?
And you're doing this before you leave the final house and before you get in your car to go back home. You know, hey. I'm good to go see houses again on Sunday. Perfect.
We're gonna go ahead and schedule Sunday today. And what we're gonna do is on Friday, we are gonna have another consultation where we are gonna discuss the next round of homes that you ultimately are are interested in seeing on Sunday. And again, put them on that Zoom call. Have that consultation with them.
And you are slowly showing them that you again have this under the control, and this will resonate so well with the customer. Because now when it's time for negotiations, they're gonna feel like you have it under control. When they're experiencing inspection issues, appraisal issues, financing issues, they're gonna look at you and feel like you have it under control. When you're heading to the closing and things may be falling apart at the closing table, they're gonna feel like you have it under control.
So, you know, at at its very basics, you know, the articulation of that value comes by giving your buyer that confidence that you can have their circumstances under control, and you are ultimately going to help them achieve that ultimate mission of buying a house that they like. Yep.
So so well said, man.
And, you know, another element that I think people are not really thinking about because they're just thinking about the the initial interaction. Hey. I gotta get this signed before we get started, and then that goes away in the the the mind of the buyers. I think that that's wrong.
I think what ends up happening is because it creates more transparency, and they're saying, hey. I'm aware that I'm gonna pay you two and a half percent. Maybe they're doing the mind like, hey. That's, that's, you know, four hundred thousand dollar house.
You're about to make ten thousand. Like, you know, maybe they're doing the math and they're now equating, like, I are you creating ten thousand dollars worth of value for me? Because, you know, I make seventy thousand dollars a year. Ten thousand dollars in one transaction, that's a lot of money, and you've gotta be selling tons of houses.
You probably sell two or three houses a day. So you're a mil you know, like, you know, people's minds are gonna go all over the place. But my point is that they're gonna equate that to a lot of money very quickly. And if you get to a place where an inspection happens and you're uncertain about that or your communication is dropping or they are not able to get in touch with you or you're, you know, something adverse is happening in the transactions, negotiations are getting kinda sideways, which we know happens.
Right?
Then that value is going to start to get pressed against. And so you have to think about how it not only affects you today, but what is your future state. Right? If you run a business where you are a high referral business and, you know, you're not necessarily concerned about that because we've never had to say we've always been able to say, hey.
Well, you know, seller pays all commissions. Well, now that that psychology is, like, technically, that's coming for you or the converse the the transparency is that piece is there. That's something that you're gonna have to be concerned about. You're gonna have to show value all the way through.
What I like about your suggestion, Louis, is that you're you're you're approaching it like any professional in any industry would do. Like, if you're reaching out to an attorney, if you're reaching out to a doctor, if you're reaching out to any of these people, it is always going to be under the framework and under the organization pattern that you just talked about. And in the real estate industry, which is so largely driven by relationships, it's a kind of a wild, wild west scenario. There's so many different ways to approach it.
There's no exact guidelines. And so we've gotten away with a lot of things and just like this is just how it is. But if you really look at it, we probably had a lot of bad practices, previously. And I think that this is gonna help us to clean some of that up.
I know particularly the agents who concentrate on this are going to get more market share. And so, again, guys, you gotta be thinking about what is the experience gonna be like for your buyers, not only in the very beginning to get them to sign it because that's really the easy work. But how do you maintain that value in their mind all the way through the transaction? And then how do you do such a great job that you inspire referrals and continue to grow your business?
And so we talked about this as well too. What are the things that a buyer is gonna value? Well, they're gonna value communication. They're gonna value guidance on what's gonna be happening.
They're gonna value, negotiation skills. They're gonna value, you know, being trustworthy and honest. Like, they are going to find value in those things. They're gonna be equating looking at the experience of purchasing a home with you and saying, no.
That's not really worth it. So you don't want a ton of fallout because you're not keeping up with it. Whereas in the past, it wasn't a conversation in their mind. It was just like, whatever.
They're gonna get paid out early. They know how to get paid. All I know is that I don't have to pay them, and that's what it is. And so I would really like for you guys to be thinking about that as you're walking into these next couple of deals.
You know, how can we increase the experience of with the consumer? What can you do to enhance the the experience of purchasing a home? And I know that you guys are gonna do amazing at it, but it's just things that we want you to to be thinking about so that if you're not, you're not caught off guard. So we're just about at time.
We appreciate you guys so much continuing to join us every single day diving into, you know, becoming more of an expert about this change, growing your careers, growing your expertise and your professionalism.
We are benefiting from it. We hope that you are betting from benefiting from this as well too. And, you know, I'm just I'm just appreciative of of all the love. We've we've seen, I don't know, four to five to six hundred peoples on every single Zoom, sometimes even more than that. So we're touching a few thousand agents, every single day and arming them to walk into tomorrow with full confidence that we are no longer gonna be held by the two or three percent or whatever was being held, you know, before we were lucky to get. We are now gonna take that into our own hands, and we are gonna show the value differently. We had discussed also in the beginning of this call, there was a lot of requests for people to open it up and for us to open it up outside of LPT.
So that one, if you wanted to use as an attraction tool, you could. Or two, if you had friends who were in other brokerages who are not getting this type of information, which is something that we had heard this morning. Hey. There's a lot of people who are left in the dark that are not having these type of comp these these type of meetings.
We are gonna open that up next week. We'll figure out what that looks like. We were really just focused here on our LPT agents. Again, we are real estate first.
And while we would love to help the entire industry, of course, that's within our heart to do, we really want to make sure that you guys were grounded and set up set up for success first. But we also don't wanna ignore the fact that a part of our model is an attraction piece, and we don't wanna ignore that piece as well either. So we know that there's some people who generally wanna use that for an attraction tool, and there's people who just want to also help people who are outside of LPT. And so we'll make that available for you guys next week when that schedule comes out for to be open up outside of LPT's walls.
And that was a suggestion that we continually heard, and Robert addressed it this morning on a call that it was asked yet again. So, appreciate you guys. We hope you have a blessed and prosperous weekend, and we will see you on Monday for motivational We'll be talking about new tech, what that we're gonna be releasing because, of course, you know, we always will. That is going to help you, you know, grow inside of this environment.
It will not replace the conversations that you need to have, and I do not recommend you think about anything that will do that, but it will enhance those things and help you go faster. So have a blessed and prosperous weekend. We'll see you on Monday.