If you Good morning, and welcome to another Motivational Monday. My name is Matthew Hodge, executive vice president here at LPT Realty. I'm joined by Robert Palmer, founder and CEO and, apparently, globe traveler. He has been pretty much traversing the globe over the last couple of weeks. Excited to be with you guys this morning. If this is your first time joining motivational Monday, welcome. We are here every Monday, giving you brokerage updates, what's happening in the market, and, of course, giving you some motivation into the week. So we're excited to be with you this morning. We turn it over to you, Robert. Robert, how are you? I'm good, man. I had a pretty good weekend. You know, I guess on the mortgage rate front, we'll pop in there real quick. Oh, you jumped right in. Continue to be uncertain. Yeah. I mean, I wish we we got a lot to cover today. You're right. We got a lot to do. And then I gotta get on the road Yeah. Because I'm in Miami, later today. Yeah. We're gonna talk tomorrow and Wednesday and Thursday. Okay, dude. But, yeah, you know, rates just continue to Be all over. Be a challenge. Yeah. You know? Actually, yeah, this morning, the tenure was up pretty good. It's come back down a little bit. Okay. And so if you're just joining for the first time and you hear someone say the tenure is up a little bit, what what does that mean? Just give us a thirty second rundown on why the ten year is an indication of what's happening with interest rates. Yeah. So, mortgage rates obviously are a big factor in our business and people buying homes. And one of the reasons people are not selling homes and not buying homes is these high mortgage rates because a lot of people have a very great low rate. So we talk about the benefits of that because it's gonna prevent us from having a overall meltdown in the housing market like we have in the past. But it is locking people in, locking people up. And so we keep hoping that rates are gonna come down, and they just keep not coming down. And so, the the US debt, credit rating was downgraded on Friday, and so that caused this last little bit of, I guess, increase in mortgage rates, over the weekend and into kind of the overnight session. So, tenured treasury futures trade twenty three hours a day. It's like when the stock market closes every day Mhmm. You know, at four, and you can kinda aftermarket trade for a little bit. Yep. The bond market, the treasury futures, they they close from five to six PM and then open back up at six PM. And so on Sundays, they open up at six PM, and a lot of foreign countries were trading treasuries in those futures markets starting at six PM on Sunday. Okay. And so starting six PM yesterday, things were getting worse and worse and worse. Okay. Had a little bit of rebound this morning. I had to shave because I'm on stage at Inman. So there are a few things in life, like, my wife demanding I shave, being on stage at a real estate conference. There are a few things that will trump my wizard beard that I'm trying to grow if mortgage rates don't go down. But, that's where we sit right now. Okay. Alright. So let's talk about that. We're gonna we're gonna do a quick recap over the last couple of weeks. So last week, you were in Seattle for a few days, went from Seattle directly to Fort Lauderdale. Now you're back here in Orlando. And then tonight, you're headed down back down to Miami for the Inman Conference, which is hosted in Miami this year. I think they're, what, the second year in a row. Right? Yeah. I don't know. I I think they did do it last year as well. In a minute. Okay. Yeah. So you'll be down there, and you're speaking, at the at the Inman conference on the panel. And let's pretty excited. So I think we've we've got some, some graphics to show here about that. Dave, if you can pull that up for us real quick. A couple of complaints about low volume in the, in the The street low. We can check that out. I don't know I don't know what Matt Hodge unplugged, but But yeah. Is it is it low volume for me, or is it low volume from Robert? Yeah. Alright. Let's get it quick. Alright. Both. Okay. Yeah. Let's crack it up. Yep. Alright, David. We can get those that turned up. All good. Okay. How are we sounding now? Alright. Cool. Sounds good. Okay. Great. Alright. So we're gonna jump into that. Actually, let's let's do a quick brokerage update, then we're gonna talk about the week in mid. I'm gonna make a quick switch back just so we kinda stay in order. So we've got some brokerage updates, and we've started something where we are doing broker of the month. And last week, we missed it, and so we are going to announce that this week, partially because we are traveling. But, so we're gonna do the outside this week. So I'll give you the honors of walking us through broker of the month and what that means. Yeah. So, our April broker of the month, is the amazing Patty Sanders, if we can get that, graphic up there. Patty's a regional director and managing broker in the Carolinas and covers a couple of other great states. Really amazing. I'm a big fan of Patty and and just has really built a great culture inside of her state and region. And, so every month, the leadership team over that group gets together and kinda talks about what broker they think made an amazing impact. And, obviously, as a real estate first company, our brokers are our backbone. They're a big part of what we're building and being there to support our agents and help our agents win, and help our agents go out there and serve their clients at the highest level. So big congrats to Patty Sanders. Keep crushing it for your agents each and every day, Patty. We love you. Awesome. Awesome. Congratulations, Patty. Okay. Alright. So we're gonna jump back into Inman. Sorry. I I took a sidetrack today. Good. So slides have an order. You gotta follow. Exactly. I I missed it, and we almost missed it again. So Inman this week, you're gonna be speaking on a panel with Errol and a couple of other industry leaders. And what I thought was I had, I had Levy clip this off. Dave, if you could pull up some graphics, I wanna kind of look at this. Because when we first started LPT, LPT first came on the scene, there were a lot of people who were not about LPT. And maybe they were trying to protect something that they built. Who knows? But the narrative was very negative for certain groups of people, and they were like, oh, nobody real is at LPT and, you know, big teams won't go there and x y z. And now it seems like the conversation is changing. And so three industry giants, one stage, which obviously you're gonna be on this stage. And so it's just interesting to see how the narrative has changed around who LPT is, what you are doing for our industry, how you are moving it forward. You came out here and said from the very beginning, hey. I'm gonna push the industry forward. We're not just gonna revamp. We're gonna push it forward. We're gonna pioneer the next era. And people were like, that's impossible. Not gonna happen. And, you know, three short years later, you're starting to see the industry recognize and talk about you in that way. So I just wanted to highlight that real quick. I I put that in there, but here's who you're gonna be sharing the stage with it down in Inman, which I think are some pretty notable, you know, speakers. What are you guys gonna be discussing on on this panel? Yeah. So it's interesting, you know, Brad Inman is is moderating, and so you really don't know what you're gonna talk about. Because Brad we did a little prep call, but at the end of the day, Brad's gonna talk about what Brad wants to talk about. And so, it's interesting. You know? So you've got, the CEO of Douglas Elliman on there, you know, one of the largest publicly traded luxury, you know, brokerages, maybe the largest. You know, I it depends on where where you classify Compass. You know? Probably the largest publicly traded dedicated luxury brokerage, Douglas Elliman. Errol Samuelson, who's the chief industry, officer at Zillow. Actually spent some time with him in Seattle last week. Great guy. And I really and we've talked a lot about kinda where is Zillow headed. You know, Zillow's kinda recommitment to the industry, you know, buying Dotloop and all these agent centric tools, and I think they've really talked a lot about the ecosystem. And, you know, I feel like Errol's heart is in the right place, and he really is a great, you know, he's a great, I guess, advocate for agents inside of that organization. And and really, you know, Jun Chu, who's now the COO of, of Zillow, built a great relationship with him over the last couple years while he was in the ShowingTime side. And it just it feels like Zillow is very much poised to support agents at a higher level than maybe ever before. And so that was great. So excited to spend some time with him on the stage. And, yeah, just with Brad, you never know, man. So it's gonna be exciting. I think this idea of the conversation real estate needs, a lot of change happening right now. We are pushing the model forward. You know, we're we're the disruptor here. We're the new kid on the block. You know, we're we're the thing that's growing and winning at a rate that everyone said couldn't be done, and this model would never work. And giving agents choices is a massive mistake. I mean, it's just all of these crazy narratives, you know, about LPT that we continue to smash through. So I'm excited to be down there. I'm excited to to do this. And then we've got, so that's it. I think, like, nine fifteen Yeah. Tomorrow morning is that first panel. And then from there, we get into, I'm doing a q and a in the afternoon, and then so this is interesting. Like, they they kick off the they kick off in minute nine. Mhmm. Emily Paquette, who's the CEO, is gonna do her welcome, and they're going straight into our panel. So we're the we're the first session, like, right out of the gate Right. Premier session. Everybody fired up, like, the premier session. Again, moderated by Brad himself, which is pretty cool. And then I'm gonna take a break, and then I'll be back in the afternoon to do a q and a, which should be pretty neat with the audience. So we're doing this rapid fire. Ask me anything, you know, again, Michael Leibowitz is gonna be back up there, and then, Anna from Analytics Miami. So it's gonna be gonna be a pretty cool panel. And then, also, LPT's own Lauren Bowen, is speaking as well. And so she's on a panel right before my afternoon, called let us generate leads together. And so, you know, Lauren has just been with LPT for, I guess, about a month now. Yeah. You know, pretty new addition. Came over from Robert Slack, which is one of the top, you know, lead generation, lead converting team ridges in the country. And so, again, just really, really excited and looking forward to the next couple of days. We've got a lot of great meetings lined up while we're in Miami. And, yeah, man. But it it's just nice. You know? Like, we've really if you think about where we were a year ago I mean, you think about where we were three years ago, like, we barely existed. You know? And and then a year in, it's like people who knew knew. And then by two years in, it's like we're starting to get a little bit of kinda cred in the industry. And now by year three, it's like we're we're a dominant force in this industry in just three years, and and nobody can deny it. And it's just really nice because it it helps us continue to push the model forward. Like, before, it's like we were having to push this boulder up the hill, and now we've gotten kind of the top. And now it's starting to roll down the other side with some of its own momentum. So, again, so thankful for everyone who's a member of our LPT family. None of this is possible without you. You know, they're not putting me on stage because I'm amazing. They're putting me on stage because all of you are amazing, and that really, I think, is the most important thing to recognize here. LPT is only as good as as our amazing agents. And, you know, I'm on that stage to represent each and every one of you and the amazing contribution that you make each and every day to this industry. So you guys keep leading from the front, and I'll keep being here to back you up and support you as we grow this thing to, unimaginable heights together. Yeah. I love it. I love it. And what I love about this too is that I know when we first started, you know, kinda negotiating, I would say with vendors on behalf of our agents when we were looking at our tech stack, it was a much different conversation when you had to say, hey. Here's what we plan to do. Here's what we're gonna go out there and do. Right? And then as we started to become realer to these these companies, maybe the deals got a little bit better. And so I'm excited to see you continue to grow within the industry and what that does for our agents in terms of our negotiating powers with new tools or anything that makes sense for us to work for on their behalf. So I love the fact that you kinda coined it that way, which is, hey. We're undeniable. People know that we're changing the industry, and that makes people want to be a part of it. And, of course, that's always aimed at the benefits of our LPT agents. And so excited to see that continue to to move forward. Yeah. Yeah. So it's kind of a funny story inside of Zillow. You know? So we, we were one of the we are now the largest dot loop customer, you know, in the country. Mhmm. And so I, we were negotiating early with them, and, you know, we talked about where we're going to grow. And I could tell they didn't really believe me. And so I went ahead and paid for, I think it was fifteen or sixteen thousand licenses at the time. And so maybe at the time, we had, you know, seven or eight thousand agents. And, you know, we I went and said, well, look. I'll go ahead and start paying right now for sixteen thousand agents even though we only have eight thousand if you'll give me the sixteen thousand agent price and lock it in forever. And and, you know, and they they kinda laugh that they were like No. No one ever thought that you know? Because if you think about it, I mean, if you look at, like, the top ten or fifteen brokerages, like, there's very few entities who have more than ten thousand agents even. And so my belief that we would go to sixteen thousand, you know, and and per you know, buy those dot loop licenses. And so we did it, obviously. We, you know, we blew through that. But it's just kind of a, you know, kind of a a legend or a myth or whatever inside of there that we pulled that off. I think at one point, I was like, oh, this crazy guy from Florida, you know, is buying twice as many dot loop licenses as he needs. And, and we did it. You know, here we are, and we continue to grow. So, yeah, that's been that's been pretty exciting. Again, just now again, we're in those rooms. We're having different kind of conversations. And, look, for me, the way I think about this, our job as the brokerage is to make sure that whatever you choose, we are here to help provide. Right? Like, we have SkySlope and Dotloop. Right? And for every person who hates SkySlope, there's somebody who hates Dotloop and vice versa. Like, what I've learned about real estate technology is it is very much what you believe, what you love, like, you know, agents have their their definition of success, their idea of the tech stack, and it's very hard to to get people to change. It's uncomfortable to change. You can actually damage your business if you try to change, you know. And so that's where we went with this choice to go, hey. We're gonna have Dotloop and SkySlope. You know, we have Lofty, then we also have options for kvCORE, and I'll call BoldTrail and Follow-up Boss across the board. I see somebody asking about Facebook Workplace. That product is actually canceled. They're shutting down Facebook Workplace, which is a big reason why we never embraced it. It'll be completely gone, I think, like, in the next six months. But, again, our job is to make sure that we are embracing the right, you know, the right technologies. And so we have agents who have an amazing, relationship with Zillow. We have other agents that don't do business with Zillow. Like, really, that's not our choice to make as the brokerage. We're here to make sure that you have those opportunities and that being an LPT agent gives you an unfair advantage, sets you up to win at the highest level in whatever way you wanna run your business, and whatever your individual definition of success is, because that's what I'm that's what I'm here to help do. Right? That's right. I'm not here to try to force my definition of success on you. I'm not here to tell you that I think Dotloop is better than SkySlope or I think SkySlope is better than Dotloop. I'm here to create a company with enough scale that you can have a choice of both. I'm not here to tell you that I think Lofty is better than FUB or FUB is better than Lofty. You know? I'm here to give you the choice so that you can make that decision at scale. Now there's different costs. Right? Like, Lofty is cheaper than than Follow-up Boss. Like, we can't control the pricing, but to make it available to you at the absolute best price possible inside of agent choice. And our commitment to agent choice starts with comp plan. You have choice of compensation plan. You have choice of technology stack. You have choice of esignature platform. You know, all of this stuff is is really anchored in the idea of agent choice. You have a choice to join LPT plus and have access to additional tools and technologies that we've gone out and and, and built for you. You have a choice to become a team leader and then choice to join LPT growth plus for teams, and and then grow your team and have more technologies. This idea of of choice really is amazing, and it's something that no other brokerages really do. And as I look at the landscape and you think about the legacy franchise brands, they could not offer choices. Right? If you're a single independently owned franchise with two hundred agents, you don't even have enough scale to negotiate your primary choice, much less give people multiple choices. And what I really saw as the beauty of where the industry was going, this this transformation from an industry that was dominated by franchises, independently owned franchises, to an industry that I believe over the next twenty years will will be absolutely dominated by nonfranchised national single entity brokerages. That's the transition happening. And when you look at the first class of those single entity brokerages, that's Compass, eXp, maybe we'll throw a reel in there. Single choice account plan. Right? Very little choice. They basically just took the old franchise model and made it bigger. Yep. We looked at the old franchise model and said, hey. Let's let's crash all that down. Let's ignore everything they did, and let's build the company for the future. And the company for the future is about agent choice. It's about different definitions of success living inside of a single ecosystem. It's about the opportunity to say, you know what? I wanna go and try to build a team or try to attract agents to me, and before that meant you would have to leave a transaction fee brokerage and go to a rev share brokerage, and then vice versa. Hey. I went to the rev share brokerage. I tried, and it just didn't work for me. My team didn't work out. I wasn't able to attract agents, and now you have to leave that brokerage and go to a transaction fee brokerage to get a fair compensation model. And so this idea that we could create all of that choice inside of a single entity where you continue to grow, you continue to come to Motivation Monday every every week, you continue to vest your your stock grants. Like, all of those things continue to happen while you're able to make these choices inside of your compensation plan. And again, we take that through tech stack. We take that through training. We take that dedication to agent choice through everything we build and everything we do. But it is such a differentiator from the other models. And and this thing, they don't even understand why it's a differentiator because they're so stuck in the old way. And I'll tell you, when we first did this, I had so many people tell me, like, oh, Robert, like, multiple choices, this is gonna confuse people. Like, they're not gonna keep up with it. This is never gonna work. There's a reason that everyone the big guys only have one comp plan choice, and this is never gonna work. And we we proved them wrong. That's right. You know? And I again, I understand it. If you are Gary Keller and you're selling franchises, right, like, you're not running a brokerage, You're selling franchises. You are going to build a model that is best for the franchise owner, and single choice is best for the franchise owner. We are a brokerage. We are here to build the model that is the best for the agents, and agent choice is what is best for agents. And that's what we're building here each and every day. And this will be the the model of future. Like, that first round of of of national brokerages, they're gonna have to change to keep up with us. As much as they went out yapping that this was never gonna work, blah blah blah, you're going to see them have to adopt options and choices for agents in ways that did not exist before. And we're then the industry leader in this idea of single entity national brokerage anchored in agent choice, anchored in this flywheel, whereas your individual definition of success may change, you don't have to change brokerages. And that was really the big vision that I set out to build, and we are we are doing it successfully each and every day. I love seeing agents who are able to move within the ecosystem. The definition of success changes. They change comp plans. Now they have the opportunity to look at Aputure as an alternative brand. Like, the way all of this fits together is is totally revolutionary in industry, and I'm I'm proud to be a part of it, at least every one of you guys. And it is clearly working because we are achieving things that no one in this industry ever achieved before. And in that thread is is this choice and commitment to education. And so that's the other thing. Right? So, let's talk about AIU. We've got our first open motivation Monday single day free AIU event coming up on Monday. Monday. Alright. Now Monday is Memorial Day. Alright. So I'm actually gonna be grilling here in the parking lot. We're gonna have a Memorial Day barbecue at the first AIU live Motivational Monday with our one day lab. So I'm gonna drag my my grill and probably my smoker up here, and I'm gonna set them up in the parking lot, and I'm gonna be cooking for everybody. Oh, man. We're able to set up some tents. We'll see. So remember, that's a that's a live audience motivation Monday. Alright? Now, again, this thing is gonna fill up. This is a free event, no ticket, coming up May twenty sixth. We announced this, whatever it was, a month ago, six weeks ago, May twenty sixth. So you'll come in for the live Motivation Monday. We'll have a couple hundred people here in the room. Then I'm gonna barbecue in the parking lot, and then we're gonna jump into our deep dives. Right? So we'll have the we'll have the events lab running. We'll have the door knocking lab running. It's gonna be absolutely fantastic. So that's coming up May twenty six. And, again, this is the idea of how does a single entity national brokerage do it differently. Alright? In the old franchise world, you had to do off-site off-site conventions because no single franchise had a big enough office or a big enough reach to do what we're doing with the Ascend Initiative University. And so, again, we look at the old franchise model. You got a thousand different offices at Keller Williams and a thousand different REMAX offices and whatever it is, all scattered over the country. And so in the franchise world, the only way to unite your franchises is to do that at, like, an off-site annual convention. And then the first round of single entity brokerages just said, well, that's how the franchise guys do it. We're gonna do it that way too. We're doing it differently here. We are doing ongoing education, ongoing training, ongoing events aimed at the entire country because we're all one company, we're all one brokerage every single month. You know, no one's doing this, and that's what the Ascend Initiative University is. And maybe at scale, we'll have a couple Ascend Initiative universities around the country. You know, there's so much opportunity here, but it's another example of where those that came before us lacked the vision to understand the true power and the true ability to serve agents differently inside of this single national brokerage versus being broken up into a lot of different little franchises. And, hey, our Canadian friends, come on down. Like, you can catch a quick flight to Orlando too. Again, like, we're ready to serve everybody. There will be parts of it are virtual. Motivation Monday, obviously, will be, will be zoomed out. We'll zoom out some of the other stuff. I can't zoom you out a hot dog from the barbecue. Maybe we'll put some pictures out there. But, hey, hop on a flight. You got a passport, jump on a flight, come on down. Orlando is easy to get to from anywhere. And that's one of the beautiful things because what I realized is no matter where the event is, most people are having to travel there. You know, even if it's a couple hour drive, most people will still jump on a plane. So the idea to say, hey, here in Orlando, we control the environment. We have all the tools we need. We have all the resources we need. We have the print shop here. We have the print collateral here. We have the door knocking lab. We have the events lab. We have the open house lab. We have the motivation Monday stage. We are ready to rock and roll here. And so every month, there is a one day free lab, first come, first serve. The first one is Monday coming up next week, and I'm gonna be grilling in the parking lot for Memorial Day. Right? That's a big one. And every single month, we're doing that. Okay? And, yeah, if you have a free hotel room that you won during the the the marathon, absolutely use it for that. Alright? It's why we did it. It's why we gave those days away. Inside of Connect, you can get those links. Then coming up in June, alright, so if you can't come on May twenty six, you can't come this Monday, Memorial Day, let's talk about our June events. So June twenty third is the motivation Monday live open to everyone. June sixteenth and seventeenth is the LPT plus mastermind. So our LPT plus members have a two day event here in Orlando at the AIU. So if you are a member of LPT plus, you should plan on coming over June sixteenth and seventeenth. We're doing a two day mini LPT plus conference and mastermind here at the AIU campus with myself, Christina, Lauren, Matt Hodge. It's gonna be absolutely amazing. Again, we're gonna fire up the labs. We're gonna fire up the content. You're gonna we're gonna have speakers zooming in from outside, but it's about coming here and being able to meet and greet and build relationships. Alright? You do need to register. I see that question, John. You do need to register. So go inside of Connect. Again, space is limited. We only have so many slots. You register inside of Connect. Let us know you're coming. Alright? It's gonna be great. And so that's June. And then if we wanna go back to the other slide, David, then in July, we do it all over again. Right? Now in July, we get into July twenty first is that free one day lab with the live motivational Monday. Alright? And then July fourteenth and fifteenth is our ninety nine dollar two day intensive lab. And then in August, we get into our summer con, which we need to update that slide. August fifth and set through the seventh is our summer conference. And then we have our so again, we are here to have massive value, and again, this is another example of why the future of brokerage looks a lot more like LPT and a lot less like everything else going on out there. Alright? Again, in the old franchise world, I understand why they were only able to do things like this once a year, twice a year under these big convention center hotels that are expensive. We're doing that too. But more importantly, we are leveraging the power and flexibility of being a single entity national brokerage in a way that no one else does with the AIU and having monthly events every single month. There's an opportunity for you to come here and be face to face and spend time and build relationships with your other fellow virtual agents. And then from there, you can carry those relationships on during Zoom. You're gonna be on Motivation Monday together. We are doing it differently, and I'm so proud of how everything is coming together for LPT. So if you're not a member of LPT Plus, check that out. We hope to see you at the LPT Plus mastermind next month. Then we get into our two day events. Then we get into our three day conferences coming up, but we are here and committed. AIU will be the number one trading resource in the real estate industry, hands down. And I think I hope we get some competition from somebody else because I like to get pushed, and I like to have to play harder. Right now, it doesn't exist. We are hands down gonna smoke everybody when it comes to the ability to pour into our agents and provide education and tools for our agents, and we're already off to a great start. I'm hoping somebody else steps up so we can make it an arms race because at the end of the day, agents win, and that's what I'm here to do. But I'm so thankful for you guys. So support this. Make the trip. Book the plane tickets. Grab the hundred and I think they're between a hundred and five and a hundred and fifteen dollars a night, you know, at the is it to Marriott. Right? The Hyatt. Sorry. Hyatt. A little Hyatt place right up here from the office. Hundred and five to a hundred and fifteen dollars a night, that is the LPT rate. We gave away free Hyatt hotel rooms during the the, the marathon. Like, help us make this a success. We're doing this for you. It's all about you, but it only works if you come and participate and be a part of it. So please come join us. Awesome. Well, I'm not quite sure that Inman is ready, for you. I think they think they're ready, Well, this is gonna be, this could be an interesting week, so we'll definitely watch the headlines. I know that you are going to, you're gonna bring the fire and, and really kind of help them understand how you see the industry and why they are likely going to be in trouble if they're if they're not thinking about the way that you are. Okay. So we are just about at time. I know we've got a busy schedule. You've gotta make your way down, to Miami this evening. So any final words? We are halfway through the month of May already. You know, summer months already starting to heat up. Traditionally, the busiest time per year, what should our entrepreneurs be thinking about, you know, mid midsummer as we're kind of really going into full swing? Yeah. Look. I think we just unfortunately, we continue to be on this narrative of uncertainty. You know, the uncertainty right now around the economy, around interest rates, around the tariffs is creating even more lock in. You know, we are seeing inventory increase. We're seeing, you know, home prices soften in some markets. Other markets, they're blazing hot. Like, out in Seattle where I was last week, you know, bidding wars, over market, can't keep inventory on. Like, it's very much a tale of different markets right now across the country. The thing you control is doing the work and putting in the work. And remember, our print tools are sticky. They're built to survive. So if people don't make a decision today and they make a decision two months from now, three months from now, you continue to win. The fundamentals will never go away. You know, meeting face to face, demoing the power pack, demoing the home buyer presentation, demoing the home buyer workbooks, demoing the buyer power pack, everything we are doing is about setting you up for success because we are a coiled spring, and we are ready for this market rebound. And the longer things stay soft, the longer transaction count stays low. Right? I'm not talking about home prices. Our industry is not driven as much by home prices as it is by transaction count. Right? And transaction count has stayed soft. We're at this thirty year low, four million annualized home sales. We can only stay there for so long. You know, thirty years ago was the last time we were at four million home sales, and thirty years ago, there were less homes to be sold. And so it's actually worse than it looks on paper. People are pushing the decision off as long as they can. They're suffering through homes that are too small. They're suffering through homes that are in the the wrong neighborhood from where their job has taken them, whatever that looks like. They're maybe being forced to return to work, and they're having to rent where they are now. Like, there's all of these decisions being made. At some point, it will break loose, and we will see this mix. And the fact that some markets are softening is good because that means there's gonna be more inventory. Because ultimately, we've been in a hot market, but there wasn't enough inventory to get the transaction count up. So I feel like it's all gonna converge, and we are gonna be so ready because our agents keep doing the necessary work. And I hope a lot of you have kept running the principles through the marathon out, keep demonstrating those power packs, keep demonstrating those buyer power packs, keep getting out and door knocking those neighborhoods. This is how you win. This is the work that no one wants to do right now, and this is the work that is working. During a boom market, social media is probably all you need. Right? I'm not saying social media is not an important part of an overall balanced plan right now. But right now, because the market is slower, we gotta get back to basics. We have to do the things that are hard. We have to do the things that are less exciting, and that is doing the hard work and getting out there, and the print collateral from LPT is there to back you up. So keep doing that hard work. Keep doing those things. We've got your back. We're gonna keep pushing things forward here from an LPT, national, international, global perspective now, but you have to keep doing the hard work, and you have to stay committed and stay focused and not give up. I know it's hard right now. I know a lot of people are on that brink of giving up. This market has been harder for a lot of folks, a little too long at this point. We're we're three years into this bust. We did not think it was gonna last this long, but keep doing the things. And I would tell you, when the market turns, and for those of you who've been with LPT for a couple years now, when somebody calls you who you gave a nine critical questions magazine to two years ago, or somebody calls you because they picked up your neighborhood report three years ago, or somebody calls you because you showed them the power pack a year ago, that is when the real wins start to come, and those are all real results. Those are all real things that will happen. That is the power of the stickiness and the tactile, benefit of the print collateral. It's why we do it. It's why we invested in the print shop. It's why in a very digital world, I always stayed focused in all of my businesses on continuing to deliver that sticky, tactile, long lasting printed collateral to be positioned differently and to build that long term credibility so that when things do change, they come back. And that's what's gonna put LPT agents ahead of everybody else, and we're gonna crush this market when the rebound happens. Alright. Well, happy to be Let's go. Fade out, Dave.