You mentioned that your software is unique in generating seller intents after buying. SMG provides software services as well. Do you know what is good about the SMG software specifically? Where can they compete with you, or is their software meant for another purpose?

They have the biggest audience. They currently make money through property announcements, requiring a subscription fee. On their website, they have a quick estimation button. Most people in Switzerland know ImmoScout and Homegate. They go on the platform, and some convert to potential sellers. They do something similar because of this quick estimation button. It starts with homeowners wanting to see the valuation of their property. They can then give this potential seller to a real estate agent and take a commission from the real estate agent. In this case, they are a competitor of ours in converting potential sellers.

How easy is it to integrate with them? Is it easy with all of them, or are there different types?

No, it is easy. We have RETS or IDX, which are standards where you can publish and receive the lead. It is a two-way standard that is in all the portals.

Can you not see the views per property on third-party software?

Correct, you cannot see the views if you use software like ours. You can only see it if you log in on the SMG site. They don't provide this information through the API interface.