The Company is exposed to credit losses primarily through trade and other financing receivables arising from revenue transactions. The Company uses the aging schedule method to estimate current expected credit losses (“CECL”) based on days of delinquency, including information about past events and current economic conditions. The Company’s accounts receivable is separated into three categories to evaluate allowance under the CECL impairment model. The receivables in each category share similar risk characteristics. The three categories include agent non-commission based fees, agent short-term advances, and commissions receivable for real estate property settlements.

The Company increases the allowance for expected credit losses when the Company estimates all or a portion of a receivable is uncollectable. The Company recognizes recoveries as a decrease to the allowance for expected credit losses.

As of June 30, 2025 and December 31, 2024, receivables from real estate property settlements totaled $138,821 and $82,300, respectively, of which the Company recognized expected credit losses of $22 and $34, respectively. As of June 30, 2025 and December 31, 2024, agent non-commission based fees receivable and short-term advances totaled $9,643 and $6,980, of which the Company recognized expected credit losses of $2,249 and $1,555, respectively.