The first private, national off-market listing forum makes pocket properties accessible to all agents with a few simple clicks
A novel new membership-based service that aims to provide a secure, searchable online platform for licensed real estate agents to consolidate, share and explore pocket listings nationwide has emerged with The Pocket Listing Service (ThePLS.com). And it has some serious industry star power behind it: founder Christopher Dyson, entrepreneur and top-producing real estate agent, and his partners Mauricio Umansky, CEO and founder of The Agency, and James Harris and David Parnes of Bravo’s Million Dollar Listing Los Angeles. Since launching the service in August, its founders have seen excellent results, with more than 2,500 new agent accounts and almost $1.5 billion worth of listed properties. That includes a $50 million estate in Beverly Hills, a $35 million home in Bel-Air and a $30 million contemporary gem in the Hollywood Hills. Not to mention a $45 million multi-use property in Miami, along with signature properties in Dallas, Austin and other parts of the country.
“The need for a national platform for sharing private information among agents has become apparent in recent years as more transactions are conducted off-market,” says Dyson. “Up until the launch of ThePLS.com, there has never been one place for agents to view all pocket listings currently available. In addition to this need, and maybe even more importantly, ThePLS.com was also created as a place where agents can exclusively share information among themselves. We created this platform to give industry professionals a competitive edge in an environment where conventional listing information is passed freely to public sites and then sold to competitors.”
How does it work? Agents across the U.S. can create an account and log into the secure online platform. From there, listing agents can share as much or as little of their valuable off-market information as they wish, while buying agents can search for properties that can’t be sourced through the MLS or elsewhere. ThePLS.com is strictly for licensed agents (a valid BRE number is required) and not available to the public.
Agents who sign up to use the service will receive a free one-year membership. As an added benefit, members can use ThePLS.com as a tool to test price points before listing properties formally. Sellers can either sell their property off market or list to the MLS using sound information and feedback on price, without accruing days on the market.
“Right now, ThePLS.com provides the most comprehensive list of off-market inventory available to the L.A. community,” says Dyson. “Ultimately, we hope every agent in the country will use the site to collate off-market listings, test price points and make the agent community as relevant as possible.”
Coming up, look for the developers to expand on its start in L.A. and to continue identifying key areas to spread into until the site becomes a valuable tool for every agent in the country.
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