Carrie Wheeler: Sure. I’m happy to address that. So what we said in the markets in which we have exclusive. We want to be at 30% of our volumes in those markets running through the marketplace. We actually hit that last quarter as the market waxes and wanes like so we’ll add volumes to. So we – I think this is more for us right now, about again protecting the consumer experience of being slate, what would the actual percentage of volumes reflecting tool, but we’re still focused on meeting those metrics by the end of the year. We’ll see how it plays out.
Ygal Arounian: Okay. A couple. And then on the inventory acquisition strategy reducing the spreads later in the year. Maybe kind of similarly on a bridge to 2024. And as we think about like going back to where you guys have been historically before we kind of slowed things down here and what’s prudent to be is still low inventory environment, a lot of reluctancy from homeowners to sell still which can kind of drag on from here? Can you just expand on the strategy to purchase more, do you think about what level of spread you might need to entice people more just get out of their homes. I know there’s always going to be a certain amount of people that they need to move and your product delivers a lot of value for that. But if we’re getting back to real revenue growth experience starting to scale the business back up.
I feel like inventory levels and people’s willingness to move needs to go up or you have to kind of push – push the needle for people a little bit. If that makes sense? Thanks.
Carrie Wheeler: So Dod?
Dod Fraser: Yes – the sort of macro layer of that question, then we can move on from there. I think when we think about what stability in the housing market looks like we need stable home pricing. So, we can reduce our spreads. And so, if you look at where we sit today, there’s just a much wider distribution of outcomes which we have reflected in higher spreads. And so, it’s that pricing stability, which really will allow us to reduce our spreads. We do not need market volumes to fully recover. If you kind of zoom out for a minute, we’re talking about a $2 trillion dollar market with our TAM being $650 billion. So, we had a slightly bigger slice of a very big market despite the lower volumes that we’re in today. So, what we’re focused on is what we can control.
We can reduce spreads through improving our cost structure, which improves conversion and unlocks marketing spend. We’re focused on deepening our partnership channels, with our long-term growth drivers. So really all of those actions were taken to drive incremental acquisition volumes and will allow us to re-accelerate those volumes, as we’ve discussed in 2024.
Ygal Arounian: Thanks so much.
Dod Fraser: Of course.
Operator: Thank you. Our next question comes from the line of Nick Jones with JMP Securities. Your line is now open.
Nick Jones: Great, thanks for taking the questions. I guess just first with kind of the success you’re having acquiring through partnership channels. Is it fair to assume there’s maybe some wiggle room to continue to take, sales, marketing and operations costs down as you may be pull back your own, kind of direct-to-consumer spend. And then on top of that through those channels is Opendoor able to build kind of strong brand awareness or does that kind of partner brands supersede your ability to kind of generate brand through those channels?
