So — and it’s pretty linear, the more productive they are, the more they’re staying with us. And so, the majority of the agents that we are losing are agents who are fundamentally looking for other employment outside the real estate industry.
Tom White: That’s great. That’s really helpful. Thanks. Maybe, then just one on international. Can you — what we should expect in terms of like the overall consolidated EBITDA in 2023 as it relates to internationally. Should we expect you guys are going to kind of invest at a similar kind of clip relative to last year? And then, also sort of the same question on corporate expenses. That’s a pretty big drag obviously on EBITDA that we can see now, too. Curious whether you can kind of meaningfully slow that or maybe even reduce that industry volumes are worse than you expect?
Glenn Sanford: Yes. So, the eXp World Holdings portion is to some extent fairly fixed, it’s a lot of its compliance infrastructure for being a public company. So that’s fairly early, and Jeff can certainly comment more to that. On the international front, we did slow down our new country growth launches. We did that sort of second half of 2022. That being said, now that we’ve broken it out, we actually broke out, segmented out the numbers for a reason. One was so that we could actually invest more in international growth by showing that the model does work at scale. But there are 50 to 80 more countries we want to grow into in the next few years, but the key is to make sure that we’re able to manage a cash balance such that we’re able to make the moves that we need to make in order to grow.
So, I wouldn’t say we’re going to accelerate growth, but we’re not going to slow down growth too much more than we did last year and probably will start to approach the four to five new countries a year range towards the end of the year.
Jeff Whiteside: I would add some more things on the World Holdings. A large — two big pieces of that is professional services and the stock comp. So, these are — so relatively, there’s not a lot of variability in those numbers. Secondly, I’m with Glenn on the investment side of it, but I think the other thing that’s going to happen that we’re going to see over the short period of time or relatively short period of time, some of our company — our countries that are meeting business for a while. The U.K. we’re going to start getting — we’re going to get more productivity. We’re going to get more sales. So, there’s going to be more margin coming back off some of our moves. That’s going to be a big focus for us in 2023.
Tom White: Great. Thanks. I’ll get back in the queue here.
Denise Garcia: Great. Thanks, Tom. Now, take a question from from William Blair. Matt, if you’re ready?
