Marcus & Millichap(MMI) - 2023 Q2 - Earnings Call Presentation

• Transaction counts in 1H 2023 estimated to have dipped 49% year-over-year; dollar volume dropped by 58% year-over-year. • Interest rate shock, tightened lender underwriting and lower loan-to-value percentages causing pricing recalibration in most property segments and markets; buyers are well-capitalized, but buyer/seller expectation gap remains wide. • Limited debt capital availability for office and other challenged properties will make price discovery more difficult. • Financing generally available for ...