Marcus & Millichap, Inc. (MMI) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.855 Greetings, and welcome to Marcus and Millichap's Third Quarter 2025 Earnings Conference 00:00:04.855 -- 00:00:08.639 Call. As a reminder, this call is being recorded. 00:00:08.639 -- 00:00:12.342 I would now like to turn the conference over to your host, Jacques Cornet. 00:00:12.342 -- 00:00:15.085 Thank you. You may begin. 00:00:15.085 -- 00:00:19.409 Thank you, Operator. Good morning, and welcome to Marcus and Millichap's Third Quarter 00:00:19.409 -- 00:00:24.614 2025 Earnings Conference Call. With us today are President and Chief 00:00:24.614 -- 00:00:30.170 Executive Officer, Hassam Najee, and Chief Financial Officer, Steve DiGennaro. 00:00:30.170 -- 00:00:34.374 Before I turn the call over to management, please remember that our prepared remarks 00:00:34.374 -- 00:00:38.999 and the responses to questions may contain forward-looking statements. 00:00:38.999 -- 00:00:44.384 Words such as may, will, expect, believe, estimate, anticipate, 00:00:44.384 -- 00:00:49.969 goal and variations of these words and similar expressions are intended to identify 00:00:49.969 -- 00:00:52.091 forward-looking statements. 00:00:52.091 -- 00:00:56.375 Actual results can differ materially from those implied by such forward-looking statements 00:00:56.375 -- 00:01:01.765 due to a variety of factors including but not limited to general economic 00:01:01.765 -- 00:01:07.012 conditions and commercial real estate market conditions, the company's ability to retain 00:01:07.012 -- 00:01:12.680 and attract transaction professionals, the company's ability to retain its business philosophy 00:01:12.680 -- 00:01:18.008 and partnership culture amid competitive pressures, the company's ability to integrate 00:01:18.008 -- 00:01:22.674 new agents and sustain its...