You have managed to annoy me, which is a rare skill. I usually give people a few chances and the benefit of the doubt, as, until you've walked a mile in their shoes...

Are you not reading what I said on purpose? Take a breath and re-read - I said the rental "sections" of agencies - most I know separate sales from rentals (and put the trainee and junior staff in there to boot). Maybe I didn't use an exactly correct industry term for that department, build a bridge, get over it and yourself.

Yes I did answer your questions - in a very detailed and patient way I thought. You just decided to ignore them.

You keep talking about agencies fees and REA - as I have stated about four times - this is NOT the main game here.

You've also ignored:

1. Most of REAs rentals are ALREADY on RNT - do some searches. I used the word 'IF' they are all on RNT, as the privates also aren't yet.
2. REA has no private rentals, THAT is one way RNT gets all rentals and therefore more renter eyeballs. This is why agents will pay in the end. I do know who owns gumtree (why are you so determined to be condescending?) - but those sites are NOT tailored to renters needs or private landlords, and neither is REAs.
3. There is another way of doing things - you seem stuck in the current process. Please try to see past it and that there may well be an alternative.

I'm not going to re-hash what I've said before about verticals, differentiation, income streams etc, as you just ignore all that and start talking about agents and fees again.

I am not spruiking anything as a winner. I am not convinced. However you say you 'KNOW', twice - I didn't say it once once. Why do you feel the need to attack others for doing what you are doing? If I am 'spruicking', then you are 'downramping'. If I am 'certain', maybe read your own post again for what you state as fact.

As I did say before (yawn), as the numbers come through for next year my view may well change - will yours? The numbers only have to be average for this to be a good business.

I have been trying to be even handed - while you seem to like to pump up your importance; the number of agency principals you deal with, the facts you know, disparage others and argue with me against points that I didn't even make.

These are not MY projections in this thread, my personal figures are much more conservative. I have invested a very small parcel on the basis that it may well beat my numbers. If it doesn't, no biggie.

This is a SPECULATIVE stock which is basically a gamble that I like the odds on. I play with these stocks because it is good education for my bigger holdings and is a lot of fun - your approach seems to be the opposite of the enjoyment of playing the market, sharing insights and debating stocks.

I've also owned REA for a long time, so I do appreciate their business model at the non-speccy end of the market too.

If you can strike a friendly tone in your posts and not ignore my answers, then I am happy to debate. After your last post, I'm not so inclined. You do realise you catch more bees with honey than vinegar?

I apologise if my post matched your aggressive and know-it -all tone - I guess you reap what you sow.