We have convinced the public that buying and selling ‘off-market’ properties is sexy and cool, and the high-end agents in Los Angeles took it a step further to create a website to share listings privately.

The PLS.com has 476 listings so far!

I’d expect some quirky things about a database that isn’t restricted by the usual MLS rules, but they have kept it very simple. The best part is that they have the ability to email a copy of any listing to buyers, which is helpful and feels like a regular MLS.  Agents can create their own hotsheets, search by radius or map, and upload new listings quickly.

While there could be anti-trust implications if it gets to be a dominant device within the industry, an agent-owned MLS club has several huge advantages:

  1. We depend on crappy-MLS companies now – no more.
  2. A high membership fee would be a barrier for marginal agents.
  3. Zillow would depend upon agent-uploading of each listing (if needed).
  4. Redfin’s website would be toast.
  5. For-sale-by-owners could get frozen out.
  6. No need for N.A.R. or C.A.R.
  7. It preserves the cooperation between agents.

It looks like heaven.

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