@elee - read their presentations. They sell data, they provide software that agents use to manage their businesses and listings, etc. I think that the OTH system is one of the main ones RNT had to integrate into.
OTH has a few divisions, one is being built and is loss making (which could be shut at any time) and the main RES one is highly profitable, generating $10m EBITDA.
RNT is not really comparable to OTH as they are at totally different stages with OTH being a proven business, and RNT starting to try to monetise its business and it isn't yet clear that it will work as the company expects it will.
Cheers
Marv
DISCLOSURE: I don't hold RNT but am researching it.
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