Jeremy Wacksman

That kind of data is immensely valuable because people are in search of basically almost like regret minimization when they're buying in the category.

So I think it depends on

the type of data maybe in the transaction, whether it's worth going after and investing in incremental data.

Agreed.

Well, for the agent, the example you just gave, letting them focus on the atoms and not the bits is incredibly valuable.

I mean, that's the other thing.

If you talk to Pam, she probably wanted to spend time trying to figure out what house you should buy, trying to figure out how to help you.

The best agents are...

Yes, they're staging the home, but more often they're negotiators, they're consultants, sometimes they're therapists.

They're doing the professional service, client service work, but they're stuck doing all the busy work.

Like the customer relationship management software we offer, you go watch and agents are spending so much of their time, follow-ups,

responding to the text that came in, checking the item off the to-do list.

This is stuff that software and workflow can and should do for them.

So if we can generate more data to help take away the busy work, the back office work, so they can kind of do the front office client work, that's intensely valuable to them as small business owners.

I think we have a benefit in that we're so small in that market, right?

The market, which is, well, one, we would argue a local share of transactions, but even if you want to think about a national market, a national share of transactions, and we are so small, and then the components of the transactions

Mortgage is one of the most regulated markets out there.

And we are basis points of share relative to the large mortgage providers.

And so we can grow nicely and still be very, very small.

So we need to be aware, but we try and build all of our products