Every year in the US, over 5.6 million homes are bought and sold. In fact, experts say that if more inventory was available, that figure could easily top 8 million!
Of course, numbers like these are only possible through close cooperation in the real estate industry. No doubt you’ve heard of the Multiple Listing Service that puts every real estate agent in touch with all current real estate listings.
But what about IDX? This is lesser known amongst common real estate tools, but it’s just as powerful.
Keep reading to learn about IDX and how it enables easy listing integration.
What Is IDX?
IDX is an acronym for Internet Data Exchange. In a nutshell, it allows real estate agents to display up-to-date, comprehensive real estate listings in their locale.
Established by the National Association of REALTORS, IDX is actually considered an NAR policy. The idea is to allow brokers to exchange permission to display each other’s listings on their own websites.
You might also hear IDX called “broker reciprocity” because of the way it works.
How Does IDX Work for Realtors?
Since we’re on the topic, let’s briefly outline how IDX works. Basically, it creates a data link between your website and the MLS, allowing you to import other listings and show them on your site.
Here are the four main types of technology that go into IDX:
- RETS: enables servers and individual websites to “speak the same language”
- FTP: file transfer protocol allows communication between computers
- IDX Framing: an HTML feature that allows for easy copy-and-paste codes
- RESO Web API: a streamlined access point for apps and websites to query and return listings
If you specialize in Tennessee real estate, for example, Showcase IDX is an easy-to-use plugin option. It displays all current listings in middle Tennessee and gives viewers more options to choose from (and more chances for realtors to sell a home).
What Are the Benefits of Using IDX?
Why would a real estate agent choose to integrate IDX into their website? Aren’t they helping the competition?
With so much emphasis on user experience (UX), realtors need to offer the smoothest home-buying process available. IDX delivers by boosting user engagement and offering them more options. In turn, this contributes to more leads for every realtor involved (and, ultimately, more closed deals).
Another factor to consider is search engine optimization (SEO). Adding an IDX application to your website actually improves search engine visibility.
In a world where everyone is fighting to land on the first page of Google, IDX is an easy tool that can bring you one step closer to that goal.
Harness the Power of IDX & Other Real Estate Tools
The real estate market runs on tools like the MLS and IDX. If you weren’t familiar with this tool before, we hope this article has shed some light on how the real estate industry works!
Now that you know more about these common real estate tools, what’s next? Our site is full of informative articles like this one, so stay right here and keep browsing!