October 17 2014
IDX or Internet Data Exchange is sometimes referred to as "broker reciprocity." IDX is a set of business rules that allows agents and brokers to display another participating broker's listings on their website. In exchange, they agree to allow other participants to display their listings.
IDX-enabled sites let consumers search local listings right from your agent homepage. IDX sites are by far the most popular option for real estate websites, perhaps due to their low time and effort threshold. Today, most solutions are "turnkey," meaning that they're already set-up and ready to deploy. Your only necessary involvement is to adjust the product to your needs--adding an agent or company bio, for example, or customizing email templates.
The cost of IDX lead generation sites can vary based on the solution you choose. Some products come with features like a built-in CRM, drip marketing, virtual tours, and lead capture capabilities to help you manage your leads more effectively. Decide which tools are most important to you before choosing a solution.
To help you learn more about IDX, we recommend reading the following articles. They're a good place to get started:
If you're in the market for a document for an IDX solution, there are questions you can ask to evaluate which option is right for you, like:
Find more questions to ask in our 2014 Technology Guide. It's a free resource for real estate professionals who want to learn more about the technology products available to them.
Here is one IDX solution highlighted in the Tech Guide:
For more information on the option above, download the full guide. For a full list of reputation management solutions, visit our Product Directory.
This is the latest in a series of articles that explores the spectrum of technology products available to real estate professionals. Each post covers what a specific type of technology does, how to evaluate solutions in that category, and available options. Here's what we've covered so far:
Stay tuned for more!