Related Party Transactions (Notes) |
9 Months Ended |
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Sep. 30, 2021 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Notes Payable In September 2021, the Company accelerated recognition of MSI’s maximum contingent earnout and entered into notes payable agreements with each of MSI’s shareholders for a combined principal amount of $61.5 million. The related party notes bear no interest and are payable in full on April 8, 2022. Commission Revenue The Company serves as a broker for Holding Company of the Villages, Inc. (“The Villages”) and certain affiliated entities. Commission revenue recorded as a result of transactions with The Villages was $1.0 million and $339,000 for the three months ended September 30, 2021 and 2020, respectively, and $2.3 million and $1.1 million for the nine months ended September 30, 2021 and 2020, respectively. The Company serves as a broker for certain entities in which a member of our board of directors has a material interest. Commission revenue recorded as a result of these transactions was $84,000 and $119,000 for the three months ended September 30, 2021 and 2020, respectively, and $103,000 and $243,000 for the nine months ended September 30, 2021 and 2020, respectively. Commissions Expense Two brothers of Lowry Baldwin, our Board Chair, earned $148,000 and $254,000 from the Company in Risk Advisor commissions during the nine months ended September 30, 2021. Rent Expense The Company has various agreements to lease office space from wholly-owned subsidiaries of The Villages. Total rent expense incurred with respect to The Villages and its wholly-owned subsidiaries was $129,000 and $128,000 for the three months ended September 30, 2021 and 2020, respectively, and $390,000 and $412,000 for the nine months ended September 30, 2021 and 2020, respectively. The Company has various agreements to lease office space from other related party entities. Total rent expense incurred with respect to related parties other than The Villages was $636,000 and $368,000 for the three months ended September 30, 2021 and 2020, respectively, and $1.7 million and $1.1 million for the nine months ended September 30, 2021 and 2020, respectively.
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