What is IDX? …. and why do I need it?

What is IDX?

IDX (Internet Data Exchange) is a real estate property search that allows you to search for listings within your MLS (multiple listing service) area. Each state has their own rules and regulations, features and prices and IDX providers must abide by them.

Some of the larger real estate companies have developed their own searches, such as Keller Williams. These searches are only available to agents within their organization, and agents are usually charged a monthly fee to use these searches on their personal websites. Smaller companies do not have the luxury of these searches and must either use the one provided by their MLS (if available), hire a developer to build one for them using the raw data from MLS, or hire an IDX provider.

Why do I need IDX?

You’re saying, “Why would I need an IDX search on my website, if people are just going to go to Trulia, Realtor.com, etc? If you even think you can get someone to look at your website (hopefully you have SEO – whole different blog), you’ve got your lead! The property search is the SINGLE most important thing on any real estate site.  If I’m doodling around on your website and I’m pleased with the way it looks and navigates, I’m most likely going to use your search at least once! If I find a house that I like, BAM! If it bleeds, it’s a lead! A good website coupled with a good IDX search and great SEO will pay for itself in no time, if you use it properly. The key to making it worth your while is to FOLLOW-UP on your leads! Your leads are only as good as the person that is responding to them.

How do I pick an IDX provider?

Your local MLS

Not all MLS’s offer this option and usually the ones that do offer very generic searches that are not, in my opinion, user friendly and are not customizable.

Hire a developer

First of all, you better have some deep pockets before you start the hunt for a good developer. Next you need to find a good developer. Need I say anymore?

Hire an IDX provider

An IDX provider already has the front-end (basic look and feel) of the search built. The IDX provider contacts your MLS and downloads the data into the pre-built feed. Data fields from State to State will vary, your search may need to be branded, and other technical changes may need to be adjusted. This is what you pay for in your initial “setup fee”. Monthly fees also apply. These will vary depending on how much your MLS charges IDX providers for the data. This fee will vary from State to State.

Look for an easy to navigate search, reasonable pricing (monthly/yearly), flexibility to make  your own customizable searches, the option to have your IDX framed or linked to your website, and it’s probably not a bad idea to find a company that’s local or has people that actually KNOW the areas they are dealing with.  The best way, in my opinion, to find a good IDX provider, is to search all the local real estate websites in your area.  Act just like you would if you were looking for a home.  There’s a lot of IDX companies out there.  It’s your money, so choose wisely.