just read about a US home brokering company, Redfin. Should be similar to Propnex and APAC Realty; however, there should be quite a difference in the housing market and regulations between US and Singapore which I am unfamiliar with.
It is quite a technology company using lots of technology to provide information.
also, they are a buyer of the houses (i.e. they flip). they believe that with the data they have, they can profit and manage the risks well
it was a recommendation stock by motley fool this month