This is the latest in a series of 'Buyer's Guides' that feature questions to ask and options to consider before making a new purchase. See our previous guides to purchasing a CMA, CRM, Document and Transaction Management, Electronic Signature, and Ad Network.

What are IDX and VOW?

We defined these terms in our popular article "Listing Syndication Definitions." Borrowed from that article, here is a simple definition of IDX and VOW.

• IDX or Internet Data Exchange is sometimes referred to as "broker reciprocity." IDX is a set of business rules that allows brokers (and agents) to display another participating brokers listings on their website; in exchange, they agree to allow other participating brokers to display their listings. Brokers who agree to the IDX rules receive a data feed from the MLS containing the active listings for all participating brokers in the MLS marketplace for use on their site. Under no circumstances can the IDX data of another broker's listings be provided to any non-MLS participant. IDX rules also include very specific listing display requirements for each participating broker; for example, usually the listing brokerage name is required to display alongside the listing.
• A Virtual Office Website (VOW) is a broker website that allows the public to register in order to view every bit of data that is in the MLS (with the exception of confidential information, such as showing instructions). It is the registration requirement and the more complete information that sets a VOW apart from an IDX website. However, like IDX, it allows brokers to share data from the MLS with consumers. VOW data fields may include days on market, original list price and changes over time, sold data, and other fields that are not allowed to be displayed through IDX, and that are not included in a data feed for syndication.

Questions to Ask

There are some important questions to ask when buying any real estate technology product and some that are unique to choosing an IDX or VOW product.

First, let's look at general questions you'll want to ask.

• What are my objectives for this piece of technology and will this product help me achieve those objectives?
• What is my budget?
• Does my broker, MLS, or Association have any agreements with any vendors that might help me obtain this product at a discount or for free?
• Does this product work with all desktop and mobile browsers?
• What kind of customer service and training programs are available? Are there webinars and, if so, are they recorded so you can view them at any time? Is the vendor's online help sufficient?

After you've asked and answered these questions, you can get down to the IDX and VOW-specific questions:

• Does my MLS allow IDX or VOW access to this vendor?
• How challenging will it be to add IDX or VOW to my website?
• Does this vendor support my own branding?
• What does the IDX or VOW data look like on a mobile device?
• Will the IDX or VOW link out to another site, or stay on my existing domain?
• How often is the data updated by the vendor? (Goal is every 15 minutes to one hour)
• What reports are available?
• What tools are available to property searches (i.e. saved searches, favorites, alerts, etc.)?
• Does the solution plug into my existing lead management solution, have its own, or both?
• Can I customize the auto-responders?
• Are there drip campaigns that leverage MLS data to nurture client for life relationships?
• What happens to my client record information if I chose to switch vendors in the future? Can I export the client list along with saved searches and favorites?
• Can I import my current client list with saved searches and favorites or do I need to hand enter them?

Your Options

For more information on these options, download our 2013 Technology Guide.

• AgentAchieve: CoreLogic's AgentAchieve is a broker solution that combines a variety of functions into a single business management tool. A key component of this is listing syndication; however, AgentAchieve also offers integrated websites, lead management, CRM, and other tools.
• Point2 IDX: one of the leading IDX solutions for real estate comes from Point2. They make it easy to display your own listings and listings from your MLS with powerful lead-capture tools and an intuitive map-based interface.
• Top Producer IDX: Add IDX to your Top Producer or realtor.com® website with Top Producer IDX. The solution sends lead information directly into your Top Producer CRM, helping you keep in touch with prospects.
• WolfNet IDX and VOW: Highly flexible and customizable, property search solutions from WolfNet are available in more than 430 MLS markets in the US and Canada. They also offer a mobile IDX solution as well as lifestyle, neighborhood, and school data.

Next Steps

• Download the 2013 Technology Guide
• Read articles about IDX and VOW
• Visit the IDX and VOW sections of our product directory
• Contact the vendors above
• Talk to your MLS, Association, or broker