Josh Harley: Yeah, in fact literally right before I got on this call, I was talking to one of our agents via messenger, and she was very encouraged, because she’s been seeing a pickup on both listings. You know people finally getting off the fence and putting their home in the market, as well as more buyers you know getting off the fence as well. You know, I think it’s gotten to a point where a lot of buyers are realizing that the 6%, 7% range €“ you know 6% to 10% range is probably here to stay for quite some time, and you know they are €“ even though it’s not ideal for them, you know they are finally getting off the fence saying, okay, I need to pull the trigger. You know a lot of them are waiting thinking okay, we’re going to drop back down to 4% or you know 3%, which you know none of us really believe is going to happen.
So I think it’s really a matter of receiving the right perspective and people realizing, okay, if this isn’t going to change, we’ve got to move. Even in the worst time period during the last housing recession, you know we really went down about 15% in the total number of homes. The fact is, people still need to buy and sell. There is never going to be a zero sum wherein just no one moves. But the fact is, we saw €“ I think I mentioned that it my that any other reported you know, so I’ll take a fifth or 14% in the number of homes. So we feel very positive. Our agents are starting to see some momentum as well. I tried to talk about one to two agents every single day. Some days I get to talk to three agents every single day, and I’m just, I’m seeing a lot of positive feedback and definitely some new energy from agents as the spring starts coming around.
Jonathan Bass: That’s great. Thank you, guys.
Operator: Our next question will come from Ariye Cole with Cole Capital. You may now go ahead.
Ariye Cole: Yes, thank you very much, and best to luck to all of you this year with all your efforts in innovating. Question number one, could you just kind of clarify for me, regarding the iPro Realty Network, with the 435 agents that work in the network, are all brought onboard in the December quarter or will the timing be different from that?
A – Marco Fregenal: The iPro, they actually were brought in in the Q1 of 2022, not the December quarter. The iPro acquisition I believe was February and the agents were brought in in February and March of ’22, Q1 of 2022.
Ariye Cole: Got it. So as a result, your agent number at the end of the December quarter of 10,370.
A – Marco Fregenal: Correct.
Ariye Cole: The growth there from September to December was all organic growth in terms of how the agent number grew?
A – Marco Fregenal: That is €“ that’s absolutely correct, yes. The last acquisition we made is Q1 of 2022 with some small walkovers throughout the year. But the Q4 growth was 100% organic growth, yeah.
Ariye Cole: Got it.
A – Josh Harley: Yeah, when we use the word walkover, we’re usually a referencing a small brokerage, sometimes with 15 agents, 20 agents, five agents or a large team that’s coming over. So these aren’t really necessarily acquisitions. But as we make sure we clarify, when we say walkover, the kind of industry term, that’s what that means.
