IDX or internet data exchange is a real estate business term that refers to the technology and individual agreements between your MLS, individual agent, and brokerage websites that permit them to display MLS listings online.
IDX gives MLS participants the power to authorize limited electronic representation of their listings by other participants. Under IDX, brokers consent to show each other’s listings on participants’ websites.
The Story of IDX
IDX developed in the early 2000s. Around that time, agents, to have more opportunities to promote listings, attract leads, and close deals, created a way for their members to have online access to their MLS listings. Of course, there were listing-sharing ways for MLS previously, but at an expensive price. Correspondingly, only those agents with large wallets could afford it.
Little by little, in just a few years, the price to create and keep a real estate website went from thousands of dollars to just a few dollars each month. Today, it’s much easier for agents to show the database on their sites and also for their clients to find homes that are appropriate for them using search and filter functions with the help of IDX.
How IDX Works
As was already mentioned, IDX is the software and rules used by real estate professionals to add MLS listings to their websites. It creates a data connection between your MLS and website, so the information is updated every few hours, and as a result, your audience has access to a piece of fresh information about the available properties and recent listings
There are numerous policies that should be taken into account, but I will try to underline major rules, to have a general idea about the IDX policy provided by NAR.
The main thing you should do is to ask your MLS to get its particular policy. You will also need to follow IDX rules such as not posting a seller’s listing when the seller has not approved the listing for IDX. After that, try to avoid providing IDX listings and their information to outside organizations not participating in the IDX exchange. And, of course, do not show listings on a website that aren’t approved for display by the MLS or listing brokers.
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Advantages of IDX
- By integrating MLS listings on your real estate website you will increase engagement on your website.
- An IDX feed on a website will draw more search engine visitors.
- IDX ensures that you get leads from all the listings on your website.
- Your clients have access to new information and they don’t need to check things twice.
- It saves time and finances.
What are you waiting for? Take action! If you have any questions, contact us and see how to improve your real estate website ranking here: How to Improve Real Estate Website Ranking in 2020?