And if they’re successful, then they split the revenue share. We also believe that from a cultural perspective this prevents from turning into a very siloed company. So it just creates more collaboration within the company. So it was right move, and we announced it a few weeks ago. We are currently seeing that about 13% of all new agents joining are coming through co-sponsored revenue share. So we are seeing an uptick in attraction activity because of that.
Wyatt Swanson: That’s great. Thank you. And then could you share your current expectations as it relates to gross margins for this year? Given some of the moving pieces there with fewer agents capping, but the fee structure changes and so on.
Tamir Poleg: Sure. And Michelle can touch more on that as — again, we’re not providing guidance, but I think that given the new fees and also the market conditions, I think that the margins this year will be more favorable than last year. Michelle, if you have anything to add please do.
Michelle Ressler: Yes. I mean, as Tamir mentioned, we’re not providing guidance, but we are optimistic about 2023. And I think that you can see the early effects of the fact that within our business model, we planned for downturn in the market. So our business model only strengthens in a challenging environment. And should 2023 continue to be difficult, this will only further benefit the company.
Operator: Thank you. Your next question is coming from Chris Sakai from Singular Research. Your line is live.
Chris Sakai: Hi, I’m in for Dave Marsh. Can you provide an update on Title company operations? How many states is it operating in and what is the plan to roll out in additional states?
Tamir Poleg: Sure. Hi, Chris. So currently Title is focused on two main states Texas and Florida. And we also have an operation in Georgia as well. We are licensed in many more states, but we are now expanding into Colorado, Nevada, Arizona, and California. In February, we had a record month in terms of revenue in Title Company. We’ve communicated before that we created JVs. So we are now inviting our agents to become owners in the Title companies that we own, and this way they can actually make money out of Title services, not only out of commissions. And what we’re seeing in those JVs, we have two main JVs. One is targeted at capers, so agents that are more productive, one is targeted at non-capers. We have about 65 agents in the capers, JV in Texas and Florida, and about 120 in the non-capers.
What we’re seeing in terms of attach rates on those JVs is north of 70% of capturable transactions are going to those JVs. So this is encouraging in terms of attach rates, and now we are expanding the JVs to additional states. So this is still very early stages but again, we’ve seen some record month and I think that we got it right with the JVs. So we’re seeing a lot of engagement from our agents.
Chris Sakai: Okay. Sounds good. And then the same questions for acquired mortgage operations. How many states is it operating in and what is the plan for additional rollout?