Are you wondering what IDX is? Do you want to know why it matters? Well, you’re in the right place.
If you’ve ever visited the website of a real estate agent, you have most likely seen the listings available on their page. The tool allowing them to do this is the IDX.
In this article, we will cover everything you need to know about real estate internet data display so that you can share this knowledge with others or have one integrated on your website.
Whenever you’re ready to get acquainted with this modern tool, keep reading.
On IDX: A Quick Overview
IDX has risen out of its infancy in the 200s, which is also when the internet has begun to grow into the monolith that it is now. Then, the real estate industry realized that they can promote their listings on the web. At the same time, MLS needed members to have access to such listings, so that agents would be able to attract deals and promote listings to leads.
In those days, listing-sharing services for agents and MLS were similar to the ones used now, but they were quite expensive. Because of this, only a few brokers and agents could afford to use MLS listings on their personal websites.
However, standards and advances in listing technology have brought the costs down, not only for brokers and agents but for software devs and MLS that work in real estate. In a short couple of years, the cost to maintain a website for real estate went from tens of thousands of dollars to several dollars per month.
Nowadays, it’s significantly easier for individuals to show their listings via an IDX, as well as have their customers find real estate that fits their needs via the filtering functionality.
How Does It Work?
IDX is a type of software that is used by professionals of the real estate industry to service MLS listings on a website. IDX develops and holds a connection between MLS and your website, gathers the listings, and imports them on the page. The listings are then updated regularly for customers to have immediate access to recent offerings that you can be contacted for.
Web portals like Trulia, Zillow, or Remax do not use IDX. They gather their data from other resources, such as brokerage syndication. Hence, this is why many of the listings on portals are not as updated or comprehensive as IDX.
It’s quite common for over a quarter of listings on portal sites to already be sold or entirely missing. Portal sites try to provide agent leads who sponsor listings individuals. IDX allows you to gather leads from all listings on the page.
Once you have your listings shown on IDX, you can patiently wait for your buyers to contact you as they navigate your offerings at their own convenience.
IDX Regulations
There are many regulations about IDX, many of which are bound to the decisions by the National Association of Realtors. The primary thing to know is that you must consult with the MLS for the specific policies that they use pertinent to their data that you can display.
There are many ways for you to get on the bad side of your MLS if you break the policies. Here are some of the prohibited aspects of MLS policies:
- Failing to update listings
- Altering information on IDX listings as a means to attract customers
- Providing listing information to 3rd parties
- Postings listings from a seller who asked not to have the listing up
- Showing listings that are not approved by the MLS for display
Success in real estate is not explicitly related to the closing of deals and the generation of leads. It’s about respecting the rules as well. Hence, there are regulations that IDX users must understand before integrating the services on their pages.
The Benefit Of IDX
Despite the more or less restrained rules for IDX, the integration will offer great benefits to its users. In fact, anybody who uses it—wins, whether it’s consumers or real estate professionals.
Brokers and agents can share the most appealing and applicable listings on teh market via their website for prospects. Buyers can get a brief and comprehensive overview of the recent offerings that hit the market with full confidence in the reliability of the information.
Consumers expect to see property listings with filters on real estate websites. When they visit the website, it’s usually the first step in their journey. Agents who don’t use IDX are missing out on the great benefit of retention.
To be quite honest, if you’re in real estate and you’re not using IDX currently, you’re probably not doing well or you have very strong connections in the industry. Whichever situation applies to you, IDX will take your business to the next level, and as we know, real estate is always changing.
Stagnation is the bane of all deal closures, so don’t miss out on the future of today. Learn more about IDX to ensure that your decision is right.
Real Estate Content for You
Now that you know what IDX in real estate is, you are that much closer to doing whatever you wish with this information. No matter if you want to integrate it on your website or tell your friends about it, you can do it.
If you’re interested in a variety of other real estate-related content, feel free to check out the recommended articles on the sidebar or down below.