Marcus & Millichap, Inc. (NYSE:MMI) Q1 2022 Earnings Conference Call May 6, 2022 10:30 AM ET

Company Participants

Tom Shearer - Senior Vice President, Investor Relations

Hessam Nadji - President and Chief Executive Officer

Steve DeGennaro - Chief Financial Officer

Conference Call Participants

Blaine Heck - Wells Fargo

Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.

Operator

00:06 Greeting and welcome to the Marcus & Millichap's First Quarter 2022 Earnings Conference Call. As a reminder, this call is being recorded. I would now like to turn the conference over to your host, Tom Shearer. Thank you. You may begin.

Tom Shearer

00:23 Thank you. Good morning and welcome to Marcus & Millichap's first quarter 2022 earnings conference call. With us today are President and Chief Executive Officer, Hessam Nadji; and Chief Financial Officer, Steve DeGennaro.

00:37 Before I turn the call over to management, please remember that our prepared remarks and the responses to questions may contain forward-looking statements. Words such as may, will, expect, believe, estimate, anticipate, goal, and variations of these words and similar expressions are intended to identify forward-looking statements.

00:59 Actual results can differ materially from those implied by such forward-looking statements due to a variety of factors, including, but not limited to, general economic conditions and commercial real estate market conditions, the company's ability to retain and attract transactional professionals, the company's ability to retain its business philosophy and partnership culture and the competitive pressures, the company's ability to integrate new agents and sustain its growth, and other factors discussed in the company's public filings, including its annual report on Form 10-K filed with the Securities and Exchange Commission March 1, 2021.

01:37 Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can make no assurance that its expectations will be attained. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

01:57 In addition, certain financial information presented on this call represents non-GAAP financial measures. The company's earnings release, which was issued this morning is available on the company's website, represents reconciliation to the appropriate GAAP measures and explains why the company believes such non-GAAP measures are useful to investors. This conference is being webcast, and the webcast link is available on the Investor Relations section of our website at www.marcusmillichap.com, along with the slide presentation you may reference during the prepared remarks.