{"product_id":"onereal-five-forces-analysis","title":"The Real Brokerage Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eElevate Your Analysis with the Complete Porter's Five Forces Analysis\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eThe Real Brokerage's Porter's Five Forces snapshot highlights competitive intensity, buyer and supplier leverage, entrant threats, and substitute risks shaping its growth trajectory. This brief overview teases strategic implications and key vulnerabilities. Unlock the full Porter's Five Forces Analysis for force-by-force ratings, visuals, and actionable recommendations to inform investment or strategic decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAgent talent as key input\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAgents supply Real’s core inventory—local expertise and transaction capacity—where top 20% of producers typically generate roughly 80% of production, raising supplier power as they negotiate better splits, caps, and incentives. Real’s revenue-share model and proprietary tech stack (lead routing, transaction platform) are explicitly designed to reduce churn and perceived switching gains. Nonetheless, star agents retain leverage through portable personal brands and referral networks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eData and MLS dependencies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAccess to MLS feeds, property data and mapping\/valuation APIs is mission-critical—NAR reported ~1.5 million members in 2024 relying on MLS-derived listings. Concentrated vendors and strict MLS compliance raise costs and switching friction, while platform outages or policy changes have caused multi-hour brokerage disruptions. Diversifying vendors and building in-house data layers can temper supplier power.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCloud and software platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eReal depends on cloud hosting, communications, CRM and transaction platforms; AWS, Azure and GCP held roughly 65% of global IaaS\/PaaS market in 2024, giving vendors pricing power to impose usage-based costs. Deep integrations increase switching frictions and vendor dependence. Adopting multi-cloud, open standards and selective proprietary tooling can materially reduce lock-in.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLead-gen and marketing channels\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePortals and ad platforms channel most high-intent buyer\/seller traffic, with online search used by nearly all buyers (NAR 2023: 97%), giving platforms outsized leverage.\u003c\/p\u003e\n\u003cp\u003eAuction-style ad pricing and frequent algorithm changes push up acquisition costs and amplify supplier bargaining power, compressing agent ROI and brokerage margins.\u003c\/p\u003e\n\u003cp\u003eOver-reliance magnifies exposure; investing in owned channels and referral systems materially reduces supplier risk and cost volatility.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh-intent traffic concentration: NAR 2023: 97% buyers used internet\u003c\/li\u003e\n\u003cli\u003eSupplier leverage: auction pricing raises CPC and CPM volatility\u003c\/li\u003e\n\u003cli\u003eImpact: compresses agent ROI and brokerage margins\u003c\/li\u003e\n\u003cli\u003eMitigation: build owned channels and referral networks\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAncillary service partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAncillary service partners — mortgage, title, insurance, escrow — materially shape client experience and monetization by affecting closing speed, fee capture, and NPS; with US homeownership at about 65.8% in 2024, smooth ancillary flows remain critical to transaction volume and retention. Local licensing and title-market concentration create pockets of supplier power, while preferred partnerships boost economics but can constrain agent flexibility; diversified partner networks preserve service levels and negotiating leverage.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAncillary impact: closing speed, fees, NPS\u003c\/li\u003e\n\u003cli\u003e2024 fact: US homeownership ~65.8%\u003c\/li\u003e\n\u003cli\u003eRisk: local concentration → supplier power\u003c\/li\u003e\n\u003cli\u003eMitigation: preferred deals improve margins; diversification maintains terms\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAgent stars hold leverage; diversify vendors and channels, \u003cstrong\u003e80%\u003c\/strong\u003e\n\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTop agents (top 20% ≈80% production) and portable personal brands exert strong supplier leverage; Real’s revenue-share and tech reduce churn but stars keep bargaining power. MLS\/data dependence (NAR ~1.5M members 2024) and portal traffic concentration (NAR 2023: 97% buyers online) raise switching costs. Cloud vendors (AWS\/Azure\/GCP ≈65% IaaS 2024) and ancillary partners (US homeownership ~65.8% 2024) add pricing and access risk; diversify vendors and build owned channels.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSupplier\u003c\/th\u003e\n\u003cth\u003eKey stat\u003c\/th\u003e\n\u003cth\u003eImpact\u003c\/th\u003e\n\u003cth\u003eMitigation\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgents\u003c\/td\u003e\n\u003ctd\u003eTop 20% → ~80% output\u003c\/td\u003e\n\u003ctd\u003eNegotiation on splits\u003c\/td\u003e\n\u003ctd\u003eRetention tech, incentives\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMLS\/data\u003c\/td\u003e\n\u003ctd\u003eNAR ~1.5M (2024)\u003c\/td\u003e\n\u003ctd\u003eHigh switching cost\u003c\/td\u003e\n\u003ctd\u003eIn-house data layers\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCloud\u003c\/td\u003e\n\u003ctd\u003eAWS\/Azure\/GCP ≈65% (2024)\u003c\/td\u003e\n\u003ctd\u003ePrice power, lock-in\u003c\/td\u003e\n\u003ctd\u003eMulti-cloud\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePortals\u003c\/td\u003e\n\u003ctd\u003e97% buyers online (2023)\u003c\/td\u003e\n\u003ctd\u003eAd cost volatility\u003c\/td\u003e\n\u003ctd\u003eOwned channels\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAncillary\u003c\/td\u003e\n\u003ctd\u003eHomeownership ~65.8% (2024)\u003c\/td\u003e\n\u003ctd\u003eService\/fee impact\u003c\/td\u003e\n\u003ctd\u003eDiversified partners\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eTailored Porter's Five Forces analysis for The Real Brokerage that uncovers key drivers of competition, buyer and supplier power, and barriers to entry while identifying disruptive threats and substitutes that could erode market share. Detailed strategic commentary pinpoints risks and defensive levers to support investor materials and internal strategy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA one-sheet Porter's Five Forces for The Real Brokerage that instantly clarifies competitive pressures, is fully customizable, macro-free, and slide-ready to remove analysis bottlenecks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAgents as primary customers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAgents pick broker affiliation based on splits, caps, tools, culture and brand; industry averages in 2024 show many firms offering 60–80\/20–40 splits and caps. Switching costs are moderate because agent books are portable and virtual onboarding reduces downtime. Real reported roughly 30,000 agents in 2024 and its revenue-share plus mobile-first platform aim to lower effective agent costs. Top-producing agents still command bespoke, more favorable economics.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHome buyers and sellers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHome buyers and sellers increasingly compare agents and fees via portals and reviews, with 97% of buyers using the internet in home searches (NAR 2023). Fee sensitivity and demand for speed\/transparency raise bargaining power as typical commissions run about 5–6% (NAR 2023). Discount and flat-fee models anchor lower price expectations, while superior CX and bundled services can sustain full-service economics.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMulti-homing behavior\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAgents frequently multi-home, testing multiple lead platforms and tech tools which erodes brokerage value propositions; in 2024, 87% of buyers used online search, increasing consumer cross-portal browsing and agent-shopping before commitment. This behavior reduces exclusivity and raises price competition, while sticky CRM workflows and referral networks can limit churn by creating switching costs for top-producing agents.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInformation transparency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInformation transparency—driven by widespread market data, comps, and process guides—erodes agents' informational advantages and strengthens customer bargaining power; buyers increasingly push for lower commissions or added services. Real Brokerage can offset pressure by emphasizing differentiated advisory and tech-enabled convenience to justify value.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket data widely available\u003c\/li\u003e\n\u003cli\u003eComps\/process guides narrow agent edge\u003c\/li\u003e\n\u003cli\u003eCustomers demand lower fees or value\u003c\/li\u003e\n\u003cli\u003eAdvisory + tech offsets pressure\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSensitivity to market cycles\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIn slow markets, Real Brokerage agents press for higher per-deal fees amid lower transaction volume as buyers and sellers delay or negotiate harder, amplifying customer bargaining power; broker margins compress as incentives rise while the 30-year mortgage rate hovered around 7.0% in 2024 (Freddie Mac), further damping demand.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigher agent fee pressure\u003c\/li\u003e\n\u003cli\u003eBuyers\/sellers delay or intensify negotiations\u003c\/li\u003e\n\u003cli\u003eMargin squeeze from rising incentives\u003c\/li\u003e\n\u003cli\u003eVariable costs \u0026amp; productivity tools mitigate impact\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAgents pick brokers; \u003cstrong\u003e97%\u003c\/strong\u003e buyers online; splits 60-80\/20-40; 30yr ~7%\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAgents pick brokers for splits\/caps\/tools; 2024 splits ~60–80\/20–40 and Real ~30k agents. Buyers use internet 97% (NAR 2023); commissions 5–6% (NAR 2023) raise fee pressure; 30‑yr rate ~7.0% (Freddie Mac 2024) cools demand.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eReal agents\u003c\/td\u003e\n\u003ctd\u003e~30k\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommon splits\u003c\/td\u003e\n\u003ctd\u003e60–80\/20–40\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBuyer internet use\u003c\/td\u003e\n\u003ctd\u003e97%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommissions\u003c\/td\u003e\n\u003ctd\u003e5–6%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e30yr rate\u003c\/td\u003e\n\u003ctd\u003e~7.0%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview Before You Purchase\u003c\/span\u003e\u003cbr\u003eThe Real Brokerage Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Porter's Five Forces analysis of The Real Brokerage you'll receive after purchase—no placeholders, no edits. The document is fully formatted and ready to download and use immediately upon payment. What you see here is the final deliverable and precisely matches the file you'll get.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"PortersFiveForce","offers":[{"title":"Default Title","offer_id":56162955690361,"sku":"onereal-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0914\/5276\/8633\/files\/onereal-five-forces-analysis.png?v=1762711988","url":"https:\/\/portersfiveforce.com\/products\/onereal-five-forces-analysis","provider":"Porter's Five Forces","version":"1.0","type":"link"}