If you’re a real estate professional, you’re no stranger to the term IDX – but what is an IDX website all about?
It’s common knowledge that a website is a valuable tool for real estate professionals, providing a platform to increase visibility, credibility, lead generation, etc. Integrating IDX within your real estate website can really kick things up a notch!
In this post, we’ll do a deep dive into what IDX is, how it integrates into a website, and we’ll discuss some pros and cons so you can decide if your website needs this.
But – before we dig into “what is an IDX website” – let’s start with the basics and define some of the real estate lingo we’re working with!
What does IDX stand for in real estate?
Both MLS (Multiple Listing Service) and IDX (Internet Data Exchange) are acronyms used frequently within the real estate industry, and it can be confusing differentiating the two. So let’s break down the differences:
MLS is a database of real estate listings and property information that is maintained by real estate organizations. It is used by real estate agents and brokers to market and sell properties, and it typically contains information about properties for sale, including their location, price, size, and features.
The MLS is designed to be a one-stop-shop for real estate professionals, making it easier for them to find and share information about properties with their clients.
Each MLS operates independently and serves a specific geographic area, which can range from a single city or county to an entire state or region. This means that there are multiple MLS in many metropolitan areas, and some real estate professionals may belong to multiple MLS to increase their exposure to potential buyers.
IDX, on the other hand, is a tool that allows real estate agents and brokers to display MLS listings on their own websites. IDX stands for Internet Data Exchange, and it refers to the exchange of real estate information between MLS databases and individual websites.
When a website integrates IDX, it can display up-to-date MLS listings, complete with photos, property details, and other relevant information. This makes it easier for real estate professionals to promote their listings and generate leads from their websites.
If that’s still confusing, then here’s an analogy to break it down further: Imagine that MLS is a giant fridge filled with all the delicious ingredients you need to make a great meal.
Just like a fridge, the MLS is full of all the important information about properties for sale, including their location, price, size, and features. Real estate agents and brokers use the MLS to find the ingredients they need to “cook up” a great real estate deal for their clients.
IDX, on the other hand, is like a grocery basket that you use to carry ingredients from the fridge to your kitchen. When you integrate IDX into your website, you can “grab” the information from the MLS and display it on your site, just like you can use a basket to carry ingredients from the fridge to your kitchen. This way, you can show your clients all the delicious “properties for sale” without having to leave your website.
In this analogy, the MLS is like the fridge, and IDX is like the grocery basket. Both are important tools that real estate professionals use to find and share information about properties for sale, but they serve different purposes.
How does IDX integrate within a Real Estate Website?
Now that we’re clear on the differences between IDX and MLS, let’s chat about how they work within a website. This is where third-party service providers come in. Yep – more lingo to learn!
A third-party service provider for MLS data is a company that specializes in collecting and distributing MLS data to real estate professionals. As a refresher, the MLS is a database of properties for sale that is maintained by a local real estate board.
MLS data is only available to members of the board, but third-party service providers can collect this data and make it available to real estate professionals who are not members of the local board!
Third-party service providers for MLS data typically offer a range of services, including IDX integration, property search, lead generation, and data management.
They provide real estate professionals with access to MLS data, allowing them to display property listings on their website and provide their clients with a comprehensive property search experience. They can also provide real estate professionals with access to MLS data from multiple boards, helping them expand their reach and reach a wider audience.
There are several of these third-party service providers out there, including iHomefinder, Showcase IDX, Realtyna, etc. My personal favorite is IDX Broker!
I’ve used IDX Broker numerous times to integrate IDX within real estate websites for my clients, and I love that it includes a comprehensive property search experience and helps generate leads. My clients can also manage property data all within their website, and they get detailed analytics and reporting.
This is super important, because your website is more than just a pretty face! It should actually make a quantifiable positive impact on your business, and IDX Broker’s reporting can help track a website’s performance so my clients can make data-driven decisions.
Benefits of Using IDX for Real Estate Professionals
A website with IDX integration provides real estate professionals with several key benefits:
➔ Increased Visibility
IDX technology integrates MLS listings directly into your website, providing potential buyers with access to comprehensive, up-to-date property information. This increased visibility can attract more traffic to your website, helping you reach a wider audience.
➔ Increased lead generation
With IDX integration, a website can provide real estate professionals with a powerful lead generation tool. Clients can search for properties, save their favorite listings, and request more information, all without leaving the website. This leads to increased engagement and higher conversion rates.
➔ Better data management + increased efficiency
IDX automates many manual processes, freeing up your time and allowing you to focus on other aspects of your business. With IDX, you can easily manage your listings, track your website’s traffic, and monitor your lead generation, helping you run your business more efficiently.
➔ Improved brand presence + professional expertise
A website with IDX integration helps real estate professionals establish a stronger online presence and build their brand. You’ll be able to establish your website as a go-to resource for real estate information, and by providing users with access to up-to-date listings and property information, you can demonstrate your commitment to helping them find their dream home!
➔ Increased competitive advantage
With IDX integration, a real estate professional’s website can provide a level of functionality and property search capabilities that rival those of larger real estate websites. This can help level the playing field and increase your competitive advantage in a crowded real estate market.
Are there any downsides to integrating IDX in a Real Estate Website?
Just like anything in business, there are always positives and negatives. There are three downsides I always make my clients aware of when they’re interested in integrating IDX in their real estate website:
➔ Cost
IDX can be expensive, especially for small real estate businesses or independent agents. The cost of IDX services can vary, but it can add up quickly, especially if you opt for premium features or custom integrations.
➔ Limited Control Over Listing Data
With IDX, you are limited to the data and information provided by the MLS. This means that you may not be able to fully customize the listings displayed on your website, or add your own unique touch to the property information.
➔ Dependence on MLS Updates
IDX relies on timely updates from the MLS, so if there are any delays or issues with the data feed, your website’s listings may be outdated. This can result in a negative user experience and potentially lead to frustrated clients.
One more thing to keep in mind is that your IDX integration has to go through an approval process. This usually involves submitting your website for review to your MLS, which will then evaluate your website to ensure that it complies with the MLS’s rules and regulations.
This isn’t a downside per se, but it’s important to be aware that approval times can vary. There are hundreds of MLSs in America alone, each with their own rules, so the approval process can take anywhere from several days to several weeks.
Sometimes the approval process can be expedited if you have a pre-existing relationship with the MLS, or if you are using a pre-approved IDX solution (like IDX Broker).
So, are you ready to have an IDX real estate website?
Hopefully this post has taken you from wondering “what is an IDX website?” to being an informed pro that’s super excited to add IDX into your real estate website!
If you’re ready to take that step, don’t let the techy side of things stop you – my IDX website templates are calling your name! These add-on templates are a stylish, affordable way to get IDX integrated on your current website. They’re built for the Showit platform and are compatible with IDX Broker.
“Wait Georgia, what is IDX Broker again?” IDX Broker is one of those third-party service providers we chatted about earlier! Their software enables real estate professionals like you to add MLS property search functionality to their website.
Not only will my team help get you set up with an IDX Broker account (including a discount code), but we’ll even take care of the template installation for you, AND style the colors and fonts to match the rest of your website! You can check them out in all their glory right here.