ROI BizTalk

ROI Biztalk - Carey Hagglund Condy - Trusted Advisor vs. Transactional Agent

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Becoming a trusted advisor in real estate requires a commitment to relationships, integrity, and high-touch service. Whether you’re starting in the industry or looking to elevate your current practice, these insights from Carey Hagglund Condy can guide you toward building a successful, referral-based business that prioritizes the needs of your clients

SPEAKER_00

Welcome to ROI Biz Talk. I'm your moderator, Paul Siegel. And as always, we're here with our host, industry expert, fractional COO, branding advisor, Jonathan Lack. Jonathan, I'm expecting another informative and thought-provoking conversation today. Let us know what today's topic for discussion will be and uh who you'll be introducing us to.

SPEAKER_01

Great. Thank you, Paul. So today's topic is about being a trusted advisor in real estate versus a transactional uh agent. And what what does the difference mean? What does that difference mean in the context of uh being high touch and full service at all price points? And uh our guest today is uh Kerry Haglin Condi, who is um not only my life partner and but also uh I got into real estate because of Carrie. Carrie is now running the uh number one compass Marin team uh in Marin County, which is just north of San Francisco, and um Carrie's been at real estate for over twenty-three years, uh dealing in the luxury space. And um I started working with Carrie about eight years ago uh through her co a mutual coach of hers, uh uh Steve Schull. Um and Steve suggested I started uh helping Carrie on her strategic planning. I knew nothing about uh real estate at the time. And uh I've learned a whole lot uh from Carrie and uh she's a pro at being a trusted advisor. I now work with lots of agents and teams around the country uh after eight years, and uh nobody can define what it means to be a trusted advisor um with high touch full service than Carrie. Um and uh so inviting her today to talk about that. What what does that mean uh to her, how important that is to her, and what other uh agents can possibly learn from it from here and from the best. So hi Carrie.

SPEAKER_02

Hi Jonathan. Hi, Paul. Nice to be here today. Thank you for inviting me.

SPEAKER_00

Thank you for joining us. This this I can't wait to learn more. Um let's see. Truth be told, Carrie and I have actually also worked together for many years, although not nearly as closely as Jonathan and Carrie, because um I've I've helped Carrie with um marketing and website uh work over the years and have been in touch with her amazing crew um more than more than she. So, Carrie, it's actually really a pleasure to finally I don't think we've ever had like a sit-down conversation like this in all these years. So it's nice to be here with you.

SPEAKER_02

It's long overdue, Paul. And I should just take a moment to thank you for everything you've done to make sure that our website and marketing are on point. We get lots and lots of positive feedback on our website, so thank you.

SPEAKER_00

You're quite welcome. You're quite welcome.

SPEAKER_01

Well, let's start with um, you know, when I before I came into real estate, I had worked in wealth management um for about 10 years. And the a term that is used not only in wealth management but in other professional services is trusted advisor. And Carrie took to that term very quickly because she was already acting on that term. She just didn't use that nomenclature. And uh it fits like a glove with her, but it doesn't fit with all other agents because I've tried to get other agents to use that term. And um I think it's part of in in Carrie's case, part of her DNA. Um, and I wanted to ask her to explain it in her own words what does it mean for her to be a trusted advisor to her clients uh and in a service business that happens to be luxury real estate.

SPEAKER_02

Um well, it's it's funny. I in getting thinking about this podcast today, it made me think about sort of how I view my role and our team's role. Um, you know, I never really it's sort of just honestly, I never really gave it that much thought. It's just sort of, as Jonathan said, who I am and sort of how I work. I I take our, I should start by saying, I look at real estate as a relationships business, which I think at its core, I don't care how much technology there is and AI, at its core, real estate is and will always be a relationships business. The technology helps streamline, uh you know, get rid of cogs in the wheel, etc. But it is very much analogous to what Jonathan said is with when he worked in wealth management. I look at it's relationships. I look at my role as being very similar to a wealth manager. Homes are an asset, and it's an asset class that people have in their portfolios. Um I, you know, I work in the luxury space, but even if I didn't, it would be the same.

SPEAKER_01

You mean if you didn't work in the price point you did? Even if you worked in real estate, but at a different price point, correct. You would still want to be a trusted advisor.

SPEAKER_02

Exactly. Um Mark McLachlan, who is someone that's very important to me, who when I was starting in my career, he owned Morgan Lane, Pacific Union, then Compass in California. He said to me and to many, many others, trust is the currency of real estate. And that really sums it up. I might say trust and integrity. Um, but they are the currencies of real estate. And so doing the right thing always, because it's not only your fiduciary duty, but it's the right thing to do. And so I just think it all is very synergistic relationships, integrity, trust. We live in a small community. We are in Marin County, uh, which is a very small but very affluent community in California, right across, as Jonathan said, the Golden Gate Bridge from San Francisco. Um so it's just sort of it comes to me naturally. That's just how I feel most comfortable. We don't, we're not a lead gen team. It's all based on referrals. Uh I should say a high percentage of our business is referral-based.

SPEAKER_01

How do you uh you also uh talk about being high touch. Uh as a trusted advisor, what is that what does high touch mean to you?

SPEAKER_02

High touch means we are with clients every step of the way before beginning and after a transaction. We are our clients are uh our clients for life. We don't go away after a sale happens. Um, we are, for example, uh there was is a deal right now that I was just we're the listing team. I was just meeting the buyer who just submitted a preemptive offer. I always go to those. I wanted the buyer wanted to come to the house. I go because I want to see, I want to see the buyer, I want to see how they are, I want to see if they're excited about the house, if I see any red flags by their sort of nonverbal or verbal communication. And then I'm calling the seller after to give them an update. Like I just met with these people. I see they are very excited. I feel very confident that this deal is going to happen. Uh, we don't use lockboxes. I pick up the phone and call my clients. I'm not sending texts and emails when convenient. Uh high-touch, full service to me is something similar that you would experience if you stayed at a Four Seasons hotel. It's very subtle, but it's very impactful. They know your name, they know your patterns. They're very, they're not in your face, but they're always sort of there to be helpful, and you have this indescribably wonderful experience.

SPEAKER_01

How do you do that? That's four seasons, but how does Kerry Hackland, Condi, and team uh give, if you can, specific examples and in your business what full service means. Not every agent offers full service. They they may claim to do it, but that doesn't mean they're doing it. Um and what is high, you know, high touch, full service. You you kind of alluded to what high touch means, but what does full service mean in the context of high touch?

SPEAKER_02

Okay, so let me give you an example, Jonathan, of I'm gonna say take a listing, because there's that we do a lot when we list a house. So when we list a house, we are we have a full-time designated listing manager who is working on point with me for that client on that listing the entire period. It's everything from setting up, having very meticulous schedules of what's going to happen and when, uh, managing that entire process from A to Z, from interviewing stagers, from conducting inspections. Here we do the inspections as the listing team, the seller does. We are reviewing all disclosures. We're reviewing all inspection reports. I sit down with every client's seller and I have them do their seller disclosures with me in the office. We have a lunch for them, but I'm spending at least three hours with them, making sure that they are they know how to answer their disclosures. Sometimes, you know, I do this all day. Sometimes people answer things incorrectly or give incomplete answers. We use very high-end photography and videography. Um, we have beautiful social media. We show our listings by appointment. We don't use lockboxes. Everyone knows what our listings look like. We have beautifully curated collateral, we have branded doormats. The houses are meticulous. They're cleaned every week. We have incredible beverages in the refrigerator, coconut water, spin drips, all these healthy, really elevated beverages. We have the houses are cleaned every single week. The landscaper comes every single week. Uh, when offers come in, clients get spreadsheets of the terms of the offers. I'm on the phone with them. We I'm showing the property personally. Um, it's everything at the close. I should uh all the way to the close of Esgrow. We send orchids to our clients. We make big donations to charities and the names of our clients after the close. Uh, and then we stay in touch. We send gifts to the clients every year. We're in touch with the clients uh multiple times a year, ideally. Um, so that's what I mean by high touch full service. And we're available to them. I am, the team is for any questions. You know, if it's deal time and someone needs to talk to me at nine o'clock at night, I'm available.

SPEAKER_01

And you you mentioned that uh this is important regardless of what happens in the future with AI. Uh do all our clients appreciate this, or are there types that some clients appreciate the high touchful service, and other clients uh are more hands-off and want to discount, and it's not the right fit uh for for you. How does that work?

SPEAKER_02

Well, you always say, you know, someone may be a vanilla person, someone may be a strawberry person. Um for us, we uh our fee is 3% when we list homes. So I make I'm very clear at the get-go that if you to work with our team, this is our expectation as a team, this is what we do. And because of that, because of our team reputation, our market share, my experience and my result, our team results, we charge a 3% fee. If someone's looking for a discount agent, I mean that's fine, but we're that's not our client. And and I'm very clear with them. You know, as I always say, some people, and there again, as Jonathan says, no value judgment, but we have a certain standard and a certain way we do things, like uh four seasons of Ritz-Carlton, an almond resort. Some people just want to stay at the Holiday Inn, and that's totally fine, but that's not our team.

SPEAKER_00

You mentioned integrity before. And I'm curious if you can just kind of, for our audience, kind of lay the land of what you've seen that maybe falls short of an agency that has integrity. Um, you know, what what you offer in that in that regard.

SPEAKER_02

Well, I'm not gonna get into names or specifics, but I would say in any industry, there are probably the people that probably push it a little bit and bend the rules a little bit, and the people that don't. Um for my my interpretation of integrity is doing the right thing always, even if it is not in your best interest, which is actually your fiduciary duty as well.

SPEAKER_01

Just clarify, you're saying what you're saying is you integrity is doing what's in the best interest of the client. Um not not just what's not in your best interest, but but what's in the best interest for your your client.

SPEAKER_02

Well, that's my fiduciary duty. Integrity is that, and it's just doing the right thing always, whether it's client-related or not. And I would say, Paul, it's as important with our clients as it is with the other agents that we work with in the community. We are a team that's known as, you know, we play fair, we play well with others. Consequently, we get intel about listings really early because and so we can help our clients get into houses early. Um, and it matters. People want to do deals with us because we have integrity. This year alone, we did the stats 60, six, zero percent of our buyer sales have been off market. So, in the luxury space and even non-luxury, but especially luxury, so much is happening off market. It never hits Zillow, it never hits the MLS. If we didn't have great relationships with other agents, that wouldn't be happening.

SPEAKER_01

I think it's also important to point out, I know there are going to be a lot of agents listening to this who are not in the luxury space to say, well, I sure she can afford to do be a trusted advisor, she can afford to be a high touch, full service firm. Um, I I can't afford to do that. And and my argument to those who think that way is they can't afford not to do it. Uh and um there's an appropriate uh, you know, your tagline is full uh high touch full service all price points. So there's an appropriate high touch full service for a million dollar home, and maybe there's an appropriate high touch full service for a ten million dollar home or a twenty million dollar home. Um can you talk about what changes or doesn't change for for you and your colleagues uh on your team? Sure. That when you sell a million or a million and a half dollar home, uh what are you still doing as a trusted advisor? What are you still doing as uh high touch full service? Uh so that people think that it it's not just for five million and higher.

SPEAKER_02

Uh well, it's a great question, Jonathan. Um, and we not every house we sell is $15 million and $10 million. We just put one into contract yesterday that was $1995. It went way over. But so we the process is the same. We are sitting down and meeting with those clients to go over disclosures. Every part of the contract piece, disclosures, inspections is identical to a $20 million house. The difference might be someone selling a house for a million five or two million is not going to be spending $60,000 on the stag. So, what we do is get an appropriate but beautifully curated stager that feels like a great fit for a house at that price point. But we are still managing the process. We are still sending schedules of what's happening when, even for houses at a million five, two million, we are showing them by appointment. We have all of our collateral, we have playlists, we have all the beverages in the refrigerator. It's still gonna feel like the $20 million house does, but it's not gonna, the client's not gonna spend the same amount of money on the staging. The photography and videography might not be, you know, the $10,000 a pop, but it might be uh a bit off of that, but it's still gonna be beautiful.

SPEAKER_00

Yeah, uh, I want to circle back to something Jonathan said back on this idea of integrity and trust. The trust of the of your clients is born from your in your integrity as a as a business person. So I if you could just explore that a little bit, because I think what Jonathan was saying, it's in even an agent that might be dealing in um you know lower price points to work with ultimate integrity because at the end of the day, that brings in your future clientele.

SPEAKER_02

It's everything. It's uh it's the currency of real estate. It it it the price point really is irrelevant. It is if real estate at any price point at its core is a relationships business. That is exactly right, Paul. That is how people feel that they want to refer you when they trust you, when they know you've got their back at all times, when you are with them in the trenches, and when you are really coming from a place as an advisor, they absolutely refer you to their friends, their family, to everybody at all price points. And some of the people we work with, you know, I mean my clients may be buying $10, $15 million homes, but maybe their kids are buying $1 million, $2 million, $5 million homes. Uh it's it's all the same.

SPEAKER_00

Have you seen anything over, say, the last 10 years or so? Because you know, society culture is certainly going through uh, you know, some challenges, changes. Is does that is has any of that been reflected in what you're seeing in in the marketplace of what you're of who you're working with or or ideas or expectations?

SPEAKER_02

I I don't think I think humans are humans. I mean, I would say real estate's going faster now. I mean, the pace is a lot faster. Um, the stakes feel higher, not in terms of scarcity and price, in terms of how people feel about it, that's the same. And I think that I appeal to a certain type of client and maybe someone that's a little slicker, if that's what you're inferring. That's just not usually my client. Um, so I don't think mine has in terms of who uh who reaches out to me and who I uh resonate with. I mean, I I'll be candid, I won't take on everybody. If I don't think it's a fit or I see a red flag, I won't work with them.

SPEAKER_01

How do you uh decipher when you say that? Um how do you educate your client so that they understand what trusted advisor means? Uh high touch, full service. Um, you you have to educate clients to to manage expectations uh many clients haven't sold their Home in ten years. Uh so they're not doing real estate every day. And um they interview several agents. In many cases, they don't know what they're really supposed to be looking for and asking. So how what what would you say to potential clients to educate them on the value of a trusted advisor that's f high touch full service so that they can distinguish better between a good agent that that fits their needs versus you know a transactional discount type agent?

SPEAKER_02

Sure. Um I usually uh set up a Zoom call. Like I have one this afternoon. Somebody reached out. I always make sure we have a Zoom call. I'll go meet them in person. I usually do an introductory Zoom first just to make sure that we're aligned. Uh sit down, have a meeting with them if appropriate. I definitely talk to them about what's important to them there and want to hear their expectations, et cetera. And then I tell them how we work. Uh and that sort of what our process is and what's important if I think, you know, what I how I uh need to be aligned with a client in terms of goals and uh process. And uh the in I sort of weave the integrity and trust into the conversation so they're well aware that that's a standard for me and our entire team. Um, I talk to them about the buyer broker contract that is a legal requirement now. And if I feel like I'm getting any pushback, uh, that's if it's a buyer. If it's a seller, same thing. If someone wants to cut corners or is like, hey, you know, I have had people say, not often, but rare occasionally, hey, you know, I'm talking to a few people, which is fine. Whoever finds the house for me first, you know, or I I'm talking to multiple, I want to work with multiple people. Well, that's an opportunity for me to educate them that that's not how we work. We work exclusively with people and why. And so I kind of it's sort of self-selecting.

SPEAKER_00

As far as your referral business goes, what would you say is is there are there any kind of trends with your referral business as to why you get you are getting these kinds of referrals? It I know John would would would think about, you know, what's your brand? What, what, what is the what are people, what are your people's expectations of working with Carrie Haddon Condi? And what kind of feedback have you gotten back from folks who have referred you positively to others?

SPEAKER_02

Great question. I mean, I take the referral part of our business very, very seriously because it's a big part of our business. Um, I look at it, Paul, when we have lawyers referring people to me and wealth managers referring people to me and our team. That to me says we're doing it right. Because they have a similar fiduciary standard. And so we the third tier of that, sorry, would be um when current clients are referring people, when clients of mine are referring their children to me, or referring their family members. And when I say of mine, I should say of our team. Uh, when they are referring family members, children, neighbors, that to me says we're doing it right. Another example is, you know, so we're brought in to do these trans, you know, these real estate deals with our clients, and it's not always a happy time for the client. It could be a divorce, it could be well, which in Marin County it often is. Um, it could be something could happen during the deal, like something goes sideways, they're not always easy deals. But when you when you are holding that client's hand throughout the entire process, good, bad, and ugly, and you are there for them in the trenches. When you get out to the other side, even if it was a really tough deal, you often have uh a very devoted client after that.

SPEAKER_01

What would you say are the common mistakes that other agents would make of breaking that trusted advisory trust uh overpromising and being high tech full service and underdelivered? What what what have you seen out there in your career where uh people shouldn't overpromise and underdeliver, but underpromise and over-deliver? What what what can people what what can other agents and team leaders learn from your perspective?

SPEAKER_02

I'd say show up. Uh when I I there's uh you know, agents that are never at when when we're showing houses, as I said, we have listings, we're always there. There are times when we were working with buyers and the listing agent is nowhere to be seen ever. Like they are absolutely uh you would never know there was an agent on the other side. Being responsive in a really timely way, you know, real estate, because of its time sensitivity, is not an industry where you can just shut it down at five o'clock at night and say, I'll respond to you by 9 a.m. the next morning. When you're in deal mode, you you're responding and you need to be a people need to be able to reach you. Um I would say, you know, again, uh there are some agents that will represent a buyer and a seller on the same transaction. We really stay away from that, uh the exception of maybe five times in my 25-year career. Um we, you know, we often have buyers.

SPEAKER_01

Why do you stay away from it? What's the issue there?

SPEAKER_02

Is that my fiduciary duty? It's very difficult to be a true fiduciary when you're representing both sides. It's actually impossible.

SPEAKER_01

You're saying it's a conflict of interest.

SPEAKER_02

It it is a conflict of interest. And so part of my back to the integrity, I mean, I can't tell you how many deals and and huge price points. I have stepped away from the other side and referred it to a colleague just to maintain my what I think is my fiduciary duty and my relationship with that client. Both clients. And usually both clients are very respectful of that.

SPEAKER_00

I I would I would imagine the client themselves would push back on representing both sides of the transaction.

SPEAKER_02

You'd be surprised, Paul. I think some clients just think agents do that all the time. Oh, there are a couple agents in our space here that do it as a practice. It's shocking, actually. Shocking. Um, but they do. And uh and it's it's legal. It's legal in the state of California. I just choose not to because I want to keep these clients for life.

SPEAKER_00

And yeah, that is certainly part of the integrity question is you have a the and part of your brand. You you want long-term relationships with your clients, and you're making choices around that end. Yeah. Correct. Paul, any other thoughts? Uh well, you know, I love the human side of all this. I I when you started speaking, Carrie, about, you know, the kind of different situations that clients are in um and how and how the business is completely driven by relationships, um there must be a certain element to your job and your agent's jobs to have a skill set to be around people that are going through a divorce. It's not not everyone's a caregiver, not everyone is is sensitive, not everyone is, but it seems like in in the world of of real estate, you really need to have that skill set as part of what you're offering your clients. You never know who you're gonna get, but you want to you want them, you want their transaction to be successful, you want to treat them with their integrity um and and and sensitivity. And can you speak to that a little bit more, just about that human side of it?

SPEAKER_02

I think that someone said once, you need to be able to meet people where they are. Um, and as I said, it's not always a good place. I look at this profession of real estate as being and being brought into people's lives at not always great times as being such an honored thing that people entrust you with their personal life and expose you to what's really happening. And if it can be, you know, it can be like being in a therapy session, you know, a couples therapy session. But again, back to the trust and that being the currency, when people feel safe and they trust you, and you allow them to kind of go through what they're going through. However, I, you know, let's let's use divorce as the example because we were talking about it. You you they know you have standards and guidelines, and I tell people that are in that space, I'm Switzerland. I, you know, whatever I think personally, I my role here is Switz to be Switzerland, to be your fiduciary, and to get you to the other side. And that is how I'm going to be throughout this entire transaction. And I think that it's people are, you know, feel relieved that they can be with somebody and not always be at their best, but know that I'm gonna do everything in my power to get this asset closed for them, transacted for them at the top possible price in the most professional way.

SPEAKER_01

And you do that for estates as well, where you have siblings that have different interests.

SPEAKER_02

I do that for a lot of estate attorneys, you know, trust attorneys, uh, family law attorneys, um, the whole lots of adult children selling family homes. And there's a lot of dynamics. You know, we're all siblings. I don't know if you have siblings, Paul, but Jonathan and I have many. And it's a delicate dance when you are adult siblings are together uh to sell a family asset like a home. And it's a there's a lot of dynamics that are often going at once. Um, and so it's just adds another layer to that. But I think having a high high EQ serves you well in this business.

SPEAKER_00

Yeah.

SPEAKER_01

Well, so you then you have to be a trusted advisor in those situations because you're balancing out uh family members um as well as in divorce cases that have uh do have different interests. Oh, yeah. And you're trying to find the common interest, which is to get that house sold as quickly as possible for as much as possible. That's in everybody's interest.

SPEAKER_02

In a very transparent way. I think again, what they it may be a very dynamic situation, um, but when they know that you got it, you've got them, you're uh, and you're doing it in a very professional, methodical way, and you are not open to any of the family back and forth. But again, our Switzerland during this process, they all are, you know, they're like, okay.

SPEAKER_00

Yeah, and the estates, the on the estate side too, which I do have some experience with. This idea that I mean there could be parties involved who don't want to sell at all. And that can create, I I imagining, all kinds of tension and conflict within a whether it's a divorced couple or a or a or uh siblings.

SPEAKER_01

Somebody who needs the money needed it yesterday. They're not trying to time the market. Right. Somebody who doesn't need the money is looking at that as an investment with the luxury of deciding for themselves uh when is the best time to sell it. Uh whereas if I needed the money yesterday, yesterday was the best time to sell it. Today's the second best day to sell it, and let's get it sold. So you're absolutely right.

SPEAKER_02

I would add to that they're often when an elderly parent is still living, that sort of process is sort of very gently walking as an elderly, you know, person through this process because it's done very differently now than it was 40 years ago, 30 years ago when they purchased their homes. It's often bringing in uh one of their adult children to be sort of an advocate for them and working closely with them. Sort of you kind of go as fast or slow as that person feels comfortable, that client, and just making sure that they feel respected, they feel heard, but that we're doing this uh in a way that they can really maximize their profits and sort of do it in a way that you need to do it today.

SPEAKER_00

Yeah, uh uh anecdotally, my my mom um she spent the last few years of her life in uh an assisted living, but leaving the family house that had been our family house for about 60, uh let's see, um almost 60 years. Um and the things in the basement to go through. And the help that she needed from my sisters to to and us to weed weed through it all and understand what what she could toss, what she couldn't. This had had to have been near the end of her life, one of the most emotional experiences of her life. So yeah, I'm sure that you you see that quite often where people are making a big transition because of their age and and having to uh handle, I mean it's just another part of the the divorce, the the the the estate, you know, after the person's passed, and or the older elderly person leaving their their family home.

SPEAKER_02

Yeah, they're they're life cycles.

SPEAKER_00

Yeah.

SPEAKER_01

I can tell you, Paul, for someone like Carrie who's a real professional, there's no better reward than when the transaction is completed and somebody's after the deal where they can just go about their business, uh sends a notes, writes a thank you card email of how appreciative they were uh for her helping them and their family members get through you know a a bumpy t period. Um the one thing that I've learned about real estate in the last uh eight years is that whether you are a billionaire and this is your fifth or sixth or seventh home, and or a first-time home buyer, the process is stressful. It doesn't matter what the price point is, it doesn't matter what your experience is. And so where Carrie comes in as a trusted advisor and her team to make it a seamless experience, that is a memorable experience. Now it's it's a memorable good experience or great experience versus uh other clients have memorable experiences with their agents. It's just a bad, memorable experience versus a great one. And a great one is the reason why Carrie has such a high level of repeat and referral uh because she takes that part of the business very seriously because she's a professional. That's that's what professional, trusted advisors do.

SPEAKER_00

Yeah, yeah. The the the the the the emotional landscape uh of one's home is really I mean it's different than selling a car, you know, or a new car or even a used car. You're just oh that I'll take this one. That's not what selling and buying homes are about. It it it's completely intertwined with one's self and psyche.

SPEAKER_02

It's the bedrock, it's it's everything.

SPEAKER_00

Well, this is great.

SPEAKER_01

Carrie, thank you very much.

SPEAKER_02

My pleasure, gentlemen. Thank you for inviting me. And uh I it was very enjoyable to talk to both of you.

SPEAKER_00

Great. Thank you, Carrie. It was enjoyable to talk to you as well. Thanks for joining us on ROI Biz Talk. Yeah, I'll see you in the neighborhood. Bye.

SPEAKER_02

Bye.

SPEAKER_00

Thank you all.