Douglas Elliman Inc.

Welcome to Douglas Elliman, Inc.' 's second quarter 2022 conference call. During this call, the terms adjusted net income and adjusted EBITDA will be used. These terms are non-GAAP financial measures and should be considered in addition to, but not as a substitute for, other measures of financial performance prepared in accordance with GAAP. Reconciliations to the adjusted net income and adjusted EBITDA are contained in the company's earnings release which has been posted in the investor election section of the company's website located at investors.elliman.com. Before the call begins, I would like to read a safe harbor statement. These statements made during the conference call that are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in more detail in the Company Securities and Exchange Commission's filing. Now I would like to turn the call over to the Chairman, President, and Chief Executive Officer of Douglas Elliman, Inc., Howard M. Luber.

Good morning, and thank you for joining us. With me today are Richard Lampin, our Chief Operating Officer, Ryan Kirkland, our Chief Financial Officer, and Scott Durkin, President and CEO of Douglas Elliman Realty, our residential real estate brokerage business. On today's call, we will discuss Douglas Hellman's financial results for the three and six months and the June 30th, 2022, as well as current trends in our luxury markets. We will then provide closing comments and open the call for questions. Before we begin, I would like to take a moment to honor our beloved colleague, Karen Chesley, who passed away earlier this week. As Vice President of Human Resources at Douglas Elliman and Senior Vice President of Human Resources at Douglas Elliman Realty, Karen was an integral part of our company for almost two decades, and we will miss her dearly.

Our thoughts are with Karen's family and friends during this time. Now we will begin by reviewing Douglas Elliman's financial results for the three and six months ended June 30, 2022.