Compass Inc Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Lloyd Wharton Walmsley - UBS Investment Bank, Research Division - Analyst : In terms of just the operating costs, are there plans perhaps on the shelf where if we don't see any relief in mortgage rates, like if they just keep marching forward, where you can take more operating costs out of the business to ensure you remain a pre-cash flow positive? I think none of it -- well, I speak for myself, I did not think rates would be where they are today a year ago. So if we keep seeing them march up higher, what do you guys contemplate reacting? And then, I guess, going back to the industry structure question, how do you think a full an injunction from the judge in the Sitzer case preventing sellers from paying buyers at all, like is that -- would that surprise you? And if the industry moved in that direction, do you think that would be more, perhaps more problematic than what the case study we're looking at in in the Seattle region, where it's simply they're not required to offer buyer's agent compensation?