Could the PLS Help You Sell More Homes?

Recently, my associate Ian Lobas had the honor of interviewing Bravo star James Harris. Not only was Harris extremely open and candid when asked about his business and Million Dollar Listing Los Angeles, he was willing to offer some incredible advice for up-and-coming agents.

Plus, he had plenty to say about The Pocket Listing Service (PLS) – the first private platform for agents across the country to consolidate, share, and search exclusive pocket listings in their area.

In addition to making it possible to test price points without accumulating days on market, the PLS allows users to market to agents outside of their regular sphere. To find out how the PLS might help you sell more homes for more money, read on.

For details on what it’s like selling real estate to the rich and famous, advice on building a successful business, and more, listen to episode 802 of Real Estate Rockstars below.

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Benefits of PLS Membership

For real estate agents, information is key. The more you know about listings in your market, the more value you bring to clients. Since the PLS provides in-depth information on off-market listings, signing up is a fast, easy way to instantly add value to your services.

The PLS is also especially useful when it comes to developing pricing strategies with sellers.

Imagine, for a moment, sitting down with a seller who’s convinced that their home will sell for $400,000 despite the fact that your comps and experience strongly suggest otherwise.

In this instance, you could propose placing their listing on the PLS at $400,000 first to test that price point. If it generates interest, great. If not, you can come back to the seller with that information and will have a much easier time convincing them to rethink their pricing strategy before listing their property on the MLS.

As mentioned earlier, PLS listings don’t accumulate days on market, so it’s possible to test price points without affecting a property’s performance once it’s listed via the MLS.

But the PLS isn’t just for gathering information; it’s also a place to market and sell properties via other agents who have signed up.

In the last couple years, PLS membership has grown to more than 9,000 members who have listed over $8.2 billion in inventory. Many users, including Harris and co-founder Chris Dyson, have closed deals directly from PLS pocket listings – circumventing the MLS listing process entirely.

How to Join the PLS

At time of publishing, there is no charge to join the PLS. As mentioned in their terms and conditions (section 21), however, this could change in the future.

For now, if you’re interested in experimenting with the PLS, signing up is simple. The only thing you’ll need to join is a valid email address and a real estate license.

To learn more about the PLS, what it’s like starring in Million Dollar Listing Los Angeles, and more, listen to episode 802 of Real Estate Rockstars with James Harris.