Either way, this model works in the states due to the nature of how property business was already conducted. Information were listed in concentrated offline locations where not only agents can get their hands on, but buyers as well (through mail / catalogue etc.) Buyers like information on hand where they can process and appreciate what they are buying (and were paying big bucks for that), whereas the average S’pore buyer wants the “best secret deal in town” which if information was free and the market was efficient, doesn’t exists.

Anyway, just some random ramblings. Saw an acquaintance of mine grew his humble redfin.com business from the early days and morphed his business model from a pure web 2.0 style technology until what it is today (a brokerage a.k.a. an agent themselves (albeit hi-tech) instead of a property agent’s tool/platform) Plus it has concentrated only in cities with high net worth people.

It brought us back to the drawing board to think carefully about how we want to tackle this market, and I dare say we’ve got it! :) I can’t reveal too much, but just keep a watch on the space and you’ll see the all new beta release sometime next week!

There is a certain human dynamics in the SG property market that makes this sector immune to technology.

Also note that the property market is dominated by large property networks, and very few mid-tier agencies, and even fewer free agents.

All the best.