What is IDX and Why Do I Need It?

Internet Data Exchange (IDX) is the voluntary sharing of listing data among participating brokers belonging to the same Multiple Listing Service (MLS) for the purpose of creating greater online exposure for listings. IDX permits a brokerage and its agents to display on a public website virtually every local property for sale, regardless of who listed it. IDX is normally presented to website visitors in the form of an interactive property search. Visitors are empowered with ownership of the search process, and may have the option to remain anonymous until they are ready to contact the site-owning agent or broker for more information. 

As an Agent, having an IDX property search on your public website benefits you in the following ways:

1. Complete search access for your customers - You can provide your website visitors and clients complete online access to the entire local listing inventory of homes for sale. This enables visitors to search freely and qualify themselves before contacting you. This saves both you and the consumer time and energy.
2. You are the expert - Visitors to your website are prompted to contact you as the site owner, whether the listing in question is one of your listings or that of another agent. Thus, the website traffic you generate results in leads for you alone.
3. Lead capture - Not only are most IDX searches rich with inquiry forms, showing requests and other lead capture mechanisms, many also feature detailed user behavior metrics and other traffic data. This permits you to monitor the behavior of website visitors to your IDX search, and see which are best qualified.
4. Greater listing exposure - Your own listings now appear on every real estate website in your local market, generating far greater exposure for your sellers.
5. More accurate and current data - The listing data is more accurate and current than any 3^rd party search or listing aggregator sites, as the data is coming directly from the MLS and updated regularly by your IDX vendor.
6. Flexibility - The ability to feature single listings, as well as sets or groups of listings in a specific price range, neighborhood or other category, lets you incorporate property data to other online marketing media. These might include a neighborhood blog, Facebook or Twitter, market reports, and so on.

This list is just a summary of IDX benefits. Creative agents incorporate their IDX search into marketing initiatives in many different ways to generate more business and benefit their clients. To learn more how you can make IDX work for you and your business, contact an IDX vendor today.

The above article was written for RETechnology.com subscribers by Rich Bailey of WolfNet Technologies.  If you would like to learn more about WolfNet Technologies, please click here.

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