We want the client portal to be a repository for all of those things, but the dates and tracking that and who owns the next step on them, but also all the documents that get created. So the clients can always access them, like for tax season, et cetera, after they’ve purchased or sold a home. And the integration that we’ve done right now within business the business tracker area of our platform is just an agent-facing integration. But the goal over time is to have pieces of that open up to the client and to other third parties, obviously, always in a secure fashion. So that’s one of the reasons that we’re excited about the Title and Escrow integration, not just for the incremental attachments driving, but also for the opportunity to continue to improve the client experience as well.
With that, I’ll pass it to Kalani to speak to the integrations and what impact we might see from a margin perspective over time.
Kalani Reelitz: Yes. Thanks, Greg. And Matthew, I think just to finish it off, I think from the financial side of it, we are excited about our adjacent services. All of our adjacent services come with very favorable margins to us and to our run rate. I think what you should expect is over the next few years, say, two to three years as we continue to grow our adjacent services and spread beyond where we are today, you’ll start to see it become a more meaningful percent of our total dollars and then you’ll start to see. So I think you should expect over the next few years for it to start to help and add some margin accretion.
Matthew Cost: Great. Thank you.
Operator: We’ll take our next question from Ryan McKeveny with Zelman.
Ryan McKeveny: Hey, thank you for taking the question. Also on the T&E side, you called out reaching positive adjusted EBITDA and the accelerating attach in Southern California. I think Philly, D.C., Maryland makes sense. I think you’ve got a pretty good footprint there already, so maybe the natural extension of where to go next. Any thoughts on expansion beyond those markets? And at a high level, I know that OpEx and cash flow is the target that’s most important at the moment, but it does feel like the success you’re seeing in SoCal could justify a faster rollout to drive more attach, try more EBITDA contribution with the T&E. So maybe just talk to us about bigger picture roadmap of the puts and takes behind how quickly you want to kind of ramp T&E into more markets going forward? Thank you.
Robert Reffkin: In the new year, we will expand the title integration into our Colorado operation as well as our Texas operation. And we expect to be able to launch title likely in Florida as well over the course of this year. With the OpEx reality, we have to make trade-offs. And so, we’re moving as fast as OpEx discipline allows.
Ryan McKeveny: That’s helpful. And Robert, just California, recognizing the share gains you’re seeing despite that headwind is obviously good. I guess just any thoughts more recently on how California generally is performing? We’ve all seen some of the headlines around the home insurance companies pulling back. I guess any incremental impact there or just your high-level view on California?
Robert Reffkin: Yes. I haven’t seen the home insurance issue in California or Florida have an impact on transactions yet. Of course, I’ve heard the noise and it is a serious issue, but I haven’t seen impact transactions yet. And maybe that’s just because there’s more buyers and sellers. Time will tell. In California, but really, it’s across the country. This is what most agents would describe as the most inconsistent market that they remember. Where there’s one property, which had no offers and no one visited for three weeks and a similar property probably just a couple of miles away that had x amount of people at the open house and multiple offers. In part — yes, so there really — there is no consistent story right now. And that said, it’s an opportunity market where there’s opportunity for any agent or buyer or seller if they’re creative.
