Like sweet morning dew, I took one look at you, and it was plain to see you were my destiny. With arms Rising Listen, baby. Ain't no mountain high, ain't no valley low, ain't no river wide enough, baby. If When I wake up in the morning, love. And the sunlight hurts my eye. And something without wanting love bears heavy on my mind. And when someone else instead of me always seems to know the way, then I look at you. And the world's alright with me. It might seem crazy what I'm about to say. Sunshine Good morning, and welcome to another Motivational Monday. My name is Matthew Hodge, executive vice president here at LPT Realty. And I'm joining you from, head headquarters here in Lake Mary, Florida. I'm gonna bring in Robert Palmer, founder and CEO, who is joining us from Yellowstone Club, who's got a few weeks there, before he makes his return back to sunny Florida. Robert, good morning. How are you? One one week. This is the last motivation from the mountains. Yeah. This is it. Okay. That's right. Oh, yeah. You'll be down in, in a South Florida for, I think, a little bit before you come back to Orlando. So, excited to welcome you back to the Sunshine State. Looks like it's still pretty snowy there. We had the opportunity to spend some time together this weekend with the executive team and, being Yellowstone Club, and it was absolutely beautiful. So thank you so much for hosting us, there. I'm definitely excited to be back here in, in plus eighty degree weather, but, you know, it was a great time, with you there and and having some fun in the snow. But real quick, I wanna go ahead and start it off this week. We've got a lot to go through. So I'll just check-in with you to see how, the the balance of your weekend was, and then we'll jump right into some market updates. Yeah. Look. It was great having you guys out talking through some of the growth strategy as we, you know, got all these states opened up and where we're going. Real estate first Friday, I thought was fun, you know, from here in the mountains for those of you that caught it. I think we may have a clip of that we're gonna gonna talk through today. But, yeah, we got we got a bunch of snow this weekend. So it was, I spent all yesterday out on the slopes. And, Reagan did her first double black diamond yesterday, which was pretty cool. A little little run called corner pocket, which has a pretty rough shoot coming down the top. So I was the proud dad, watching her determination. You know? She, she wanted to do a double black diamond. She's only seven. We kinda told her she had to be eight before she could do that, and, we gave her a path. We're like, hey. If you ski these runs and you do these things, then we'll let you do it. And if the snow's good and it all came together for her. So it was really cool to watch her, accomplish that this weekend. Awesome, man. Awesome. So happy to see her continuing to grow, in her craft there. And, you know, she's got a a passion for it, so it's so cool to see her excel there. I did see that on social media that you put out there and I was like, I would die at least, you know, several times within the first couple of seconds. So it's so cool to see her skill set growing. Okay. Alright. We're gonna jump right in for a market update. You know, there's been some things going around on social media where it's kinda like this doom's gloom. We know it's kinda got this clickbait type scenario going on where we're talking about, are we headed back to, like, this housing bubble recession? There's all these comparisons drawn to, you know, what happened in the past. Very specific, comparisons. And so I wanted to see if you could clear that up. We know that the consumers may be hearing this. It could be on their mind. We wanna make sure that our agents are filled with the right information so that they know how to navigate the strategies to help their clients be successful and, and, of course, understand what's actually happening in the market. So if you could walk us through kind of, like, what what the big deal is. Yeah. So we're gonna jump into that. And one of the quick thing, rates got better overnight. If you'll notice, the beard is a little closer than it has been. We saw the ten year treasury rally overnight at the open. So, again, I think I think we may be coming through and and getting a little bit of, rate improvement we need, so that's exciting. But, yeah, you know, a lot of people right now, I think, trying to draw some type of similarities, whatever they can find to what where we are today and what happened in, you know, two thousand eight, two thousand nine, two thousand ten. And so there's a couple of these that really jumped out. I mean, that I wanna go through with our our family here at LPT so everyone here understands, like, what's really going on, what are we seeing. So we can throw that first slide up, Davie. This is one that that I've seen making rounds on, social media, and, so much so that, you know, so much so that that HousingWire ended up doing an article on this. So what what this graph is showing, the way the post goes, this graph is showing delinquency for Freddie Mac loans. And it's saying that, you know, Freddie Mac loans, if you look, you know, between two thousand ten, nine, ten, eleven, like, the peak of the crisis are are lower than what they are today. And and the unfortunate thing about this graph is this graph is, first of all, it's showing Freddie Mac multifamily delinquency rates. So while Freddie Mac does a whole lot of single family mortgages for people buying houses, you know, using LPT agents and other great agents across the country, they have a multifamily business as well where they finance apartment complexes. And apartment complexes have a very, very, very low delinquency rate. While the post didn't make it clear, I think the total delinquency rate over here is like point four percent. These these loans almost never go delinquent. And so, yes, in two thousand eight, nine, ten, at the height of the financial crisis, there were a few more apartment buildings that were going delinquent than there are today. But we have to remember is it wasn't apartment delinquency that caused the financial crisis. They elevated slightly, but still to a a super low level. And so Housing Wire picked this up because, again, this was going viral on social media. A lot of people pointing toward the crash. A lot of fear mongering going on right there. And so we wanna cover that. And so, again, that is Freddie Mac multifamily delinquency, not single family. It's still at super low levels. You know, these numbers are so small. When when delinquency goes from point one percent to point four percent, which again super low numbers, It can make a chart look like that, but this is in no way indicative of of what's going on in the single family market. So if you need a resource to share with any homeowners or consumers who may have seen this and said, oh my goodness, I'm gonna put my my, my home buying on pause because I just saw this graph on social media that Freddie Mac delinquencies are higher than they were during the financial crisis. You've got my clip here and then also you've got we can point to this housing wire article that no homeowner delinquency rates aren't elevated. Okay? Now again, that is that is only part of the story. They are elevated slightly. Right? And so that's the next thing we wanna give into because we always wanna give you the whole story here. So while the the deceptive chart about Freddie Mac multifamily is not something we should be using, delinquencies are up a little bit. You know, not nothing crazy, nothing leading to a financial crisis, but I think we have to understand that that may be creating opportunity. Right? We may see for the first time in the last real window of time, a period where foreclosures start to come back a little bit to a healthy level. Right? There there's always going to be some level of foreclosure. And what we saw is during the pandemic because rates were so low, because there were so many forbearance programs and everything available, we almost got to an unhealthy level of foreclosure, an unhealthy level of distressed properties. And so at some point, that's gonna return to normal. We can only go so long where too few foreclosures are happening, where there are almost no short sales because home prices just continue to go up and up and up. And there are certain parts of the country today where some loan types particularly FHA loans, and we're gonna get into that and what that means, are seeing a little bit of an elevated delinquency. Now no alarm bells, no warning bells. It still makes a great headline, and so you're gonna see people creating clickbait with it. But overall, the the housing market is healthy. Foreclosure levels, short sale levels, distressed levels are still at very very low historic levels, but we have to look for opportunities in our industry which is how do we help consumers? How do we if we know that maybe FHA loans are seeing this heightened delinquency, that means someone needs our help. That means there's a a homeowner out there who would be better off selling their property to unlock their equity and make that money themselves versus maybe losing the home to the bank and the foreclosure and losing that equity. Right? So, again, this is where we have a responsibility to help those consumers. Let's throw that chart up, Davie, and we'll talk a little bit about where the FHA delinquency is right now. So if we can maybe get that up next to me. So this is showing the FHA delinquency. The red box is back during the the financial crisis. And what you'll notice is FHA loans really weren't that elevated during the financial crisis. I was originating back then. I was in the mortgage business. I can tell you very, very few consumers were taking out FHA loans back in in those days. It was so easy to get a subprime loan with no income verification, any any property type you wanted, no, mortgage insurance that the FHA charged. And so we saw the the overall universe of FHA loans get very, very small. And so if people try to draw comparisons back to FHA loans during the great recession, during that two thousand eight to two thousand ten eleven period, it's just not representative because there weren't very many FHA loans. If you look all the way back to two thousand four, FHA delinquency always kinda hung out in that like ten to fourteen percent range. Now it got up to fourteen during the financial crisis that was elevated, but it was nowhere near the twenty five percent seriously delinquent loans we saw on the subprime side. Then you'll see a more recent spike that was during COVID. So one of the things that the government did for FHA loans to help FHA buyers be able to keep their properties is this forbearance concept where when there's a crisis like COVID, when there's a natural disaster like things we saw recently with flooding and hurricanes, FHA borrowers can basically skip up to twelve months payments without damaging their credit. And so again, the little bit of elevation we see right now, the headline is, oh my goodness, eleven point three percent of FHA loans are currently in default. Well, that's any level of delinquency and that includes the the folks that are taking advantage of the offered forbearance. Right? Now if you've just had your home flooded out by a hurricane and your mortgage servicer calls you and says, hey, you can go six months or twelve months without making a payment with no late fees and no damage to your credit. Taking that doesn't mean you're headed toward foreclosure. Taking that means you're dealing with a crisis in your life and the FHA loan program has this forbearance method to help you get through that. And so again, that's why we've seen this little bit of tick up here in the last five or six months because we did see a lot of damage from flooding and hurricanes. And so to me, this chart does not in any way support the idea that we're heading back for the two thousand seven, but it does say that there may be opportunity inside of the FHA universe for consumers who need our help. Because what I can tell you from my experience with FHA loans is when those six or twelve months worth of payments, that you get to skip are up, there are borrowers who have trouble getting back into the groove. Maybe because of the damage from the hurricane or the flooding, they're just unable to restart their life, unable to restart those payments. Maybe the home was very badly damaged. They need someone's help to sell that home, to unlock that equity, to make sure that they don't lose that home in foreclosure and leave all that equity behind to the bank or lose that equity to someone who may come in and and make a below market offer to them because they don't understand what's going on. And so what I want everyone to understand from this is while none of this data says we're heading back toward a two thousand seven, there is opportunity right now inside of these FHA delinquencies for us to fulfill our mission which is to help consumers. And I'll tell you, one of the things that I did recently in my business, I had a chunk of about a billion dollars worth of FHA loans that I viewed as being high risk and actually sold those. I sold those loans last year. I do believe that the FHA population as a whole is going to see a little bit of elevated delinquency beyond just what we're seeing from the forbearance. You know, we're seeing the economy soften a little bit. We're seeing jobless claims. We're seeing, you know, wage issues. We're seeing credit card debt start to hit at higher and higher levels. And what I know from experience is that the FHA borrowers will be disproportionately affected by that softening economy. Right? Lower down payments, you know, someone who only put three and a half percent down, which is a fantastic program to help people get into homes, it can also create a hardship on the back end. If they bought a new construction home in an area where maybe home prices have softened, they could actually be upside down because of that low down payment. Also, the mortgage insurance requirement of the FHA loans can be pretty high which can make that payment expensive. And so I believe that we are going to see some elevated risk, elevated defaults, elevated foreclosures. Again, no crisis, nothing like two thousand eight, nine, and ten, but I made a decision to sell almost a billion dollars worth of what I considered high risk FHA loans out of my mortgage servicing portfolio because I don't wanna have to deal with taking people's homes away and foreclosing on people's houses. Right? And so this is something to look at and keep in mind. Let's go to that next chart, the next slide there, Davie. So one of the things that that this this survey that's being quoted by CNBC and everyone with the eleven point three percent delinquency, there's actually a statement in the bottom that says from the Mortgage Bankers Association, for the purposes of this survey, MBAA asked servicers to report loans and forbearance as delinquent. Now Now remember, forbearance is where we as a mortgage servicer call the consumer and say, hey, we understand your home was just flooded or destroyed. You're in a natural disaster. Maybe a tree fell on it. Whatever's going on, we're going to suspend your requirement to make payments for the next six months, and then consumers can add another six months after that, and basically go a whole twelve months without making payments. Now, they have to pay the money back. It's not free money, but it doesn't affect their credit and it doesn't rack up late fees. But what MBA is telling us right here is, they're telling mortgage servicers they need to call those people delinquent when they answer this survey. Well, is someone really delinquent if we called them voluntarily and said, hey, we'd like to offer you the opportunity to not make payments for six months or twelve months? I don't love the way they do that in the survey. That obviously inflates the numbers which then creates some of these crazy headlines. But again, I do believe there is opportunity. There are FHA borrowers who are going to need your help and your guidance as we get into a softer economy. As we see a situation where maybe in some markets, home appreciation slows down a little bit. We're seeing more inventory. More inventory, supply, and demand. We're going to see in certain pockets across the country home prices to maybe not accelerate as fast and so there are going to be FHA buyers out there who need your help. So studying up on that, taking classes on how to help those, in distress. We've got the CDPE program that Tony Martinez does. We've got a lot going on with distressed properties inside of LPT plus with Christina with Christina Griffin. There is opportunity inside of this FHA population for us to go help these consumers do the best thing financially for them if they do find themselves in trouble with that FHA loan. One final slide I wanna share here just to give you an idea of what serious delinquency looks like. So the eleven point three number that was in the CNBC headline about the FHA loans, that's all delinquency. That's the thirty day lates which is not a big deal in the FHA world, that means you're only one payment behind. We see a lot of consumers again, I have a lot of experience with this servicing a lot of FHA loans. A lot of consumers were rolled thirty days late. They missed one payment. It doesn't mean they're headed toward foreclosure. We've got those forbearances in there where the servicer offered their ability to not make payments and they took it. So let's talk about the real number which is serious delinquency. This is someone who has gone ninety days late, the chance that they are going to head toward foreclosure is getting higher and higher. And so as we look at today's overall mortgage market, three point nine eight percent of loans are some level of delinquent, thirty days or more, but only one point one nine percent are seriously delinquent. Now what was seriously delinquency like back in two thousand eight to two thousand ten? Twenty five percent at the peak of subprime loans were seriously delinquent, and they made up the lion's share of the loans that were originated during that period. Because subprime can mean no income verification, no asset verification, any of the crazy loan products that our industry invented back in the day, where now everything has moved back into the safer products. Fannie Mae, Freddie Mac, Ginnie Mae, which is your FHA and your VA loan. So we sit here today at one point one nine percent seriously delinquent, which is nowhere near the twenty five percent that we saw during the subprime crash. So we're in no way heading back toward a crash, but I do want you to be conscious of where there are opportunities to make good business decisions in who you approach and who you go out there and help. Because those who are in trouble, those who are delinquent need a great real estate agent to help them unlock that equity and get their life back on track. Awesome, man. Awesome. Well, we we very much appreciate, that explanation. You know, that there's so much there. It's probably going to take a little bit for you to go back and really kind of watch that and understand exactly how to explain that to consumers. But it's all data points, right? So you can see how when you really dig behind the numbers, when you really understand it, how the headlines can sometimes not necessarily describe accurately what is what is happening there. Right? So, we very much appreciate that that explanation. And speaking of, you know, really understanding and and building your education, I think we've got our marathon coming up. We're going to announce some guest speakers. But, you know, I was thinking maybe we we play the video to help people truthfully understand how to get the most from the marathon. I think you really described it well on Real Estate First Friday where you were talking about, you know, you taking the time to dig into, you know, grow your own craft to deepen your understanding on something. And maybe there's a crowd around you who would look upon that or maybe their agenda is to say, hey, come do what we're doing. Don't go do what you wanna do to help you get a little bit further. And so I think you described that really well on Real Estate First Friday. So maybe we jump there before we do the guest or which which direction you wanna go? Let's do it. Yeah. Let's roll the Real Estate First Friday clip. Yes. First. Yeah. I wanna hit one more point and again some real talk here. Like, I think one other reason that that as entrepreneurs maybe we don't do some of this is there's this this almost like internal embarrassment. And this comes down to who you're surrounded by, who's your peer group, who are the folks that are watching you. Because unfortunately, as humans we do. We we judge ourselves based on how how we view other people viewing us. And I'll tell you, I went through this. Right? I, you know, I grew up single mom, Polk County, didn't have a lot of wealth. Most of my, you know, my, peer group was not entrepreneurs. They were not worried about, hey, let's go build a business. And there was a lot of, you know, looking down on me or thinking I'm the idiot because I'm out here doing this work or I'm out here doing these things that they viewed as foolish or unnecessary or a waste of time because it didn't fit into their definition of success. And I think one of the things you really have to understand is, like, again, I'm just gonna paint a picture. You're out there door knocking. And in your mind, you're you're rating and you're thinking like, hey, how is my peer group or how are people judging me. Right? And it's like, oh, this group over here is looking at me saying, oh, what what's this guy doing? Out in the heat, wasting his time, putting these stupid door hangers out, print doesn't work, none of this works. Like, he should be hanging out with us at the bar. He should be doing whatever with us. If that's the little voice in your head, it means you have the wrong people around you. Because what I will promise you is there is another person out there who sees it and says, that's inspiring for me. I'm not putting enough into my business. Right? I wanna achieve more. Right? The group over here, they don't wanna achieve more. They're happy going through life, going through the motions. They're gonna look down on you for for putting that overwhelming effort. They're gonna look down on you for doing activities that don't have an instant gratification and instant result. But there's a different group over there that you're actually inspiring through those efforts. Right? There is someone seeing you out there doing it and say, that is a hardworking guy. Right? He's putting the effort into his business. He doesn't stop. It doesn't matter. The rejection, the lack of results, whatever it is, he doesn't stop and that is inspiring to me. And what I want you to realize is ten people looking down on you or thinking whatever they're gonna think about you for taking on a challenge like this and putting that overwhelming effort, ignore them. Think about that one person who you may inspire. Because if you can inspire one person in this lifetime, if you can make a difference in someone else's life, if you can get somebody else to work a little harder in their business, no matter what it is. Right? Forget real estate. Forget whatever it is. They see you putting forth the overwhelming effort. And if you can inspire one of them to take one little extra bit of effort in their life, whether that's in their marriage, their job, being a parent, whatever it is. Because as crazy as that may sound, you being out there door knocking in the same neighborhood week after week after week, holding open houses week after week after week, maybe that little spark that someone else needs to get inspired. And so I want you to push out the other ten, twenty, fifty, ninety people who in your mind are gonna look down on you for this challenge, look down on you for the overwhelming effort, look down on you for working so hard when you're not getting the immediate gratification and find that spark and that motivation, that realization that there is one person you inspire through this. Think about what that can do for you and make that be the burning piece on top of what you're doing for yourself. Right? And because while doing it for ourselves and our own families should be enough, there is a piece of us as humans that it just isn't. We do. We we judge ourselves. We rate ourselves. We grade ourselves based on what other people are thinking. And I want you to understand that the one person you inspire is more powerful than the hundred who may look down on you for the actions you're taking. Awesome, man. Yeah. What what a great, kind of way to to end real estate first Friday. And that was really based off of saying, how do we get the most of this marathon? How do we have q two preparedness? And And how do we turn away from those things that, you know, could slow us down? Maybe discouraging discouragement from your peers or even, you know, self limiting beliefs. And so I thought that was just so well said. So, before we bring up these guest speakers, what were you thinking as you were kind of walking through? Like, why did you feel it was important to to highlight that particular thought? Yeah. So look, man. My my daughter constantly inspires me. Like, Reagan is just her perspective on life, the way she looks at things is so amazing. You know, I've I've shared in the past how, you know, she only refers to LPT as a community. You know, she doesn't know what a company is. She doesn't know about a business. She's like, dad, go take care of your community or dad. How's the community going? Like, that's the only way she knows to talk about LPT. And so I'll tell you that that Friday morning, I was I took her to school, you know, before I came and joined you guys, in order to do real estate first Friday. And we had this interesting little conversation. I take her school almost every morning except for Mondays when I'm here with you guys. And and we had this conversation. There's a little boy in her class, and it was his birthday. And so she wanted to sing him a custom birthday song. So the whole way to school, she's writing these birthday songs, you know, for this little boy in her class. And and and I know from other weeks that there's another group of kids in her class that are gonna make fun of her for singing this birthday song or whatever it is. Reagan loves to make up little songs, and there's a group of kids in the class that make fun of her for it, and she could care less. You know? And so I just I realized going in there with her, she's gonna make up this song. She's gonna sing this song. She doesn't care about the eight or ten kids or whatever it is that are gonna make fun of her or think she's foolish for singing her little song. What she cared about is the impact she's gonna make on that one little boy's day, who it is his birthday, and he loves pigs, and he loves her songs, and so she's going to sing him a song in front of the entire class. And I think just like having that conversation with her on our little ride down the mountain to school that day, I just realized how applicable that is to what we do every day. And and what I'm proud of her for is not deciding not to do that. Right? Like, she knows that the song she's gonna sing for him is impactful to him, and she doesn't care about the naysayers. She doesn't care about what the other folks do. And I just felt like that was something that we could all take and learn from. You know, that that is the way I would wanna live my life, you know. And there's maybe times when I haven't. Right? There's probably times I've given in to the other group, the group that, again, thinks it's foolish or whatever. And I just realized as we prepare for the marathon, how applicable that applicable that is. Because, again, a lot of agents for other brokerages, people in other industries, whatever it is, you know, looking down on us for the effort we do, looking down on us for putting in an overwhelming effort, for continuing to do something without that instant result. And this is why we have such a high failure rate in our industry. And so, again, watching and talking to my seven year old about how she overcomes these challenges and how she looks at the world is constantly inspiring for me. And I'm I'm glad that I get to share that with everybody else. So it was the timing worked out well that I got to join you guys on Real Estate First Friday on that day. Awesome, man. Alright. Well, let's go ahead and highlight some of these guest speakers. So as you talked about, we wanted you to make the most of it. So we're gonna highlight some of those guest speakers. And, of course, Matt, one of one of the thing I wanna touch on real quick is and I we're talking a lot about door knocking right now, but this applies to anything in our business. Right? Whatever your lead generation is, if that's calling leads who came in from the Internet and getting hung up on nine times, if that's, you know, reaching out to FSBOs and expireds, if that's whatever it is, if it's community events, you know, if it's it's working leads from your team leader, if it's going through a database of old leads, if it's reaching out to your sphere, whatever you're doing, whatever you're doing that is facing some level of rejection, some level of uncomfortableness, some level of the easy thing would be not to do it. Right? Like, call the leads. It's it's a big thing. Right? Like, if you're not doing that, it's uncomfortable. Whatever that is. Right? It's applicable to all of it. Whether it's door knocking, calling leads, reaching out to your sphere, all of these things have that same level of, like, am I an idiot for still doing this? I know there's friends over here who are gonna think I am, like, whatever it is, whatever the hard things we have to do in our business because there are a lot of them. There are a lot of hard things that we have to overcome without that instant gratification. Whatever it is and how you run your real estate business because there is no right or wrong way. Right? There are people that build a super successful business that are never gonna knock a door. You know, they're they're living on a leads based business. Right? They're getting connections from a portal. They're using direct mail to farm areas. Like, whatever it is, there is no wrong way to succeed in this business, but you have to do that uncomfortable work. You have to do that hard work. Again, whether it's calling folks, reaching out to folks, door knocking, whatever that outreach mechanism is where you're gonna face some rejection, you're gonna face some uncomfortableness, you're gonna face some days where the results are terrible. That is what I wanna encourage everyone to push through. And by focusing on again, the one person who can see you putting that overwhelming effort into whatever it is and winning, that one person you can inspire outweighs all of the naysayers who are gonna look down on you for doing that, who are going to challenge you on why you're wasting your time, why you haven't given up yet, why are you still doing this real estate thing and making all those calls or knocking all those doors or whatever it is. We have to push through that to get to the success that we know we can achieve in this industry. That's right. And now now we can jump on to the speaker. Yeah. I'll let you I'll let you bring it up. Yeah. So we can throw the the slide up there, Davey. We're revealing, kind of the first little batch of guest speakers that we have, coming in, for the the marathon next week. We've got, I'll kinda go just in order there left right. We've got the amazing John Cheplak coming in, Mark King, who's the former president of Keller Williams, Bill Pipes, absolutely, amazing coach as well, and then Jeff Glover, for those of you who were at the Saint Pete Grand Prix. He was there. He's got an event going on down in Miami right now. I think we've actually got some agents there as well. So this is, four of our guest speakers. We've got more we're gonna announce. We're gonna unveil another group, next week and in addition to some, you know, amazing folks from our team as well. So really putting together an action packed group of folks to help us get into this spring marathon, help us get fired up, help us get excited, and, again, help us push through and do the tough activities, do the activities that feel like they're not giving us the result we want today, but knowing that that with the sticky power of print and our tenacity and our unwillingness to give up and and the the repetition and everything that that we talk about here at LPT and everything that goes back to the old listing power tools days, you will push through and get the result if you can keep your mindset in the right place. And, again, this marathon is for us to spend every day together for two weeks so we can get you in that place, give you those daily activities, push through on the mindset so that you can have the absolute best twenty twenty five possible. That's right, man. So so looking forward to that and, looking forward to, you know, helping our agents get the most of it. We're gonna be like alongside you, through the entire two weeks marathon. I think we'll be on multiple Zooms per day as well too. And I'm excited to learn from those coaches and, you know, what they are doing today to help their agents be successful. And so, again, you you have to be on this path of never ending learning. And so we will gonna be we are gonna be right alongside you during those next two weeks, to to also continue to hone our skills. So with that being said, we've got two more updates real quick. We have one brokerage announcement that we wanted to make sure, kinda came out here, with the early adopters. And so, Arpi, can you just walk us through what early adopters and how that's that's changing? Yeah. So today is the the last day, the end of the early adopter era in the United States here for LPT Realty. We did a couple of extensions. Originally, it was gonna end in December. You know, I made the decision to push it through to to March thirty first. Maybe some folks thought we were gonna extend it again. We are not. This is it. You know? So Canada, again and again, Canada still has some early adopter opportunities and things. We're new to that country, but this is the end of an era. You know, LPT is is at the three year old mark now. You know, we we've hit on on just crazy growth levels. I mean, you saw the submission we made to real trends. We'll find out this week, our actual ranking, as that comes out. It looks like we're gonna come in right at number ten based on some data we've seen, reported in some other surveys. So, again, the idea that that we're gonna hopefully be announced here in the next week as a top ten brokerage in the country, in less than three years is pretty amazing. But, yeah, the the early adopter era is over here in the United States. If anybody's, signing an ICA by midnight, they're good to go. And we'll give a little bit of time to transfer their license like we always do, but they gotta have that ICA signed today. But it's kind of a it's an interesting thing. You know, we we went out there and we offered the the special stock increases for people who joined and believed early, you know, those who could see the vision and understand what we were building, and and that that's behind us now. Like, joining LPT Realty is not a risk anymore. This is not, hey. Is is Robert's crazy idea gonna work? Is is this LPT thing gonna come together? Can that group of leaders put this together or not? Is this hybrid share thing gonna work? You know, we've we've absolutely achieved it all. And so tonight at midnight, we sunset, forever in the United States, the, early adopters benefits, which is which is pretty insane. And everyone who joined is obviously grandfathered into those for as long as they're with us here at LPT, but just a really kind of a really big moment. You know, the idea that we're not having to do that special thing anymore. We've reached that critical mass. We've gotten into all fifty states. And now, again, as we open new countries, those agents in new countries who believe early will have a similar opportunity. But, this is the end of the the US, early adopters benefits, which is which is super interesting. Yeah. It is. It's, we're growing up, man. And so, so excited to be along the journey with everyone who believed early and who continues to believe and understands that we are gonna continue to push this industry forward and help you grow your business and define it in the way that you find success. So we are so excited as ever to be a part of that mission to help impact your lives and your family's lives in in the the best way. Okay. So last thing I know we're just a bit over time. I wanna go, through the awards that we received, recently. I know we got we we get some of these pretty pretty frequently, but I got this one with special. So we've got the the Ava award. Robert, can you walk us through, the Ava award, please? Yeah. So we we won a series of Ava awards. We've we put images in here in the Desi if you guys wanna share about this. We can throw the list up, but we got, we got a platinum for our year end wrap up. So, again, the the great video we did at the end of the year, you know, a lot of hard work goes into that by Davey and John Powell and the entire team getting the video together, getting that edited, you know, Larry Bird walking through our year. You know, the the content of that, the way that was put together, the accomplishments of LPT, that that earned us a platinum award, from the Ava Digital Awards. Then we got four gold awards, for Connect two point o, for the BBA marathon, for DESI, for our luxury collections marketing. And then we got two honorable mentions. So really excited there. There's there's graphics in there that you can share inside of Desi. Here's some examples with Tracy as our wonderful model. Those are available in LPT Connect. So, again, we just we keep winning, man. We we're submitting for, teles again. You know, we've had a couple of Emmy nominations. We haven't won an Emmy yet. We've won a lot of great tellies. We won the Ava's. We won the training pro or the training magazine, you know, awards. We're we're winning all over the board. I'm hoping we get that Emmy. I know that that's something we really wanna pull off. But, again, we just we keep putting out great stuff. We keep building this amazing business. The result is in the success we see our agents seeing, the success that we're seeing as a company, almost tripling our our transaction count year over year, almost doubling our agent count year over year. Just, you know, all of these awards and all of this technology and marketing and everything we build is great, and the awards are fun. But what really matters to me is the impact it makes on your business. And there's nothing, you know, nothing I'm more proud of than when an agent reached out and shares that that listing they got that they thought they weren't gonna get because they had the tools or that neighborhood they broke into, because of using the tools or, you know, that they're seeing their their leads convert at a higher level from the portals because they're using the seven home buyer strategies or, hey, they're picking up listings from those online buyer leads because they're using the active marketing plans critical questions. You know, everything we built is here to help you succeed. But it's also fun when we get recognized, you know, by these these different, marketing and industry and training, you know, magazines and companies that that that what we are doing is amazing. And what we are doing doesn't look like what any other brokerage out there is doing. And we know it's working because LPT agents are winning at a very high level right now. Awesome. Awesome. Well, any final words for for the for the final day of the month? Yeah. No. Hey. The q one is over. March is over. You know, again, we're gonna keep doing the things we've gotta do here to support you all in your business. I'm really excited about the marathon. I'm excited to, you know, give away the cash and prizes. I'm excited to see some of our agents maybe push their business to that new level, again, in whatever they're doing, to to to get success, to meet customers, to prospects, to help more clients. And we're just gonna keep pushing forward, man. This is it's gonna be a big year for us. You know, we we were really focused on geographic expansion in twenty twenty four, getting the rest of the country opened up. Now it really is about continuing to offer more and more great marketing tools. You know, we have the new listing collections coming online, which is the enhanced marketing products for every price point similar to our our luxury collections and ranch and land and waterfront. Again, we're just gonna continue to push forward and and and help our agents win at the highest level. So keep an eye on your inbox for more information on the marathon. We're gonna be announcing more amazing great speakers, and the class schedule here in the next week coming up. But just be ready. Be ready to pour in for those two weeks here. I'll be back in town for that. We're gonna have an absolutely great time. But go out there and make it a great week. Go out there and touch more lives, help more consumers, help guide your consumers through what is a tricky real estate market right now. We talked about the misinformation. We've talked about rising inventory. You know, this is where your expertise and guidance is more critical than ever for your customers. So stay on top of your game. Keep tuning in here to things like Motivation Monday. We'll keep doing our part to help give you that little bit of extra unfair advantage so you can win at the highest level. Go make it a great week. Like sweet morning dew, I took one look at you, and it was plain to see you