What does IDX Stand For?
If you guessed Internet Data eXchange you are correct. It is simply the exchange of data between two sources using the internet, in this case the MLS giving you its data to put on your website.
Of course there is a small monthly charge for this service, but it is worth it’s weight in gold.
“An Internet Data Exchange (IDX) is a real estate property search site which allows the public to conduct searches of approved Multiple Listing Service properties in a certain area.” (source: Wikipedia)
At the very minimum having an IDX feed on your site is going to give your visitors the ability to search the MLS just like they were on Redfin or Zillow. If that was all IDX did then it’s worth may be debatable.
The real value of IDX is that it gives you the most valuable form of lead capture that is available to a Real Estate Agent. When potential leads use your IDX to search for homes and find something they like, even if it is not your listing, and request more information you get the lead.
Think about buying a new car. What is the goal of the salesperson? To get you to take a test drive! Once you climb in, and smell the smell, get comfortable, picture yourself owning the car, feeling how she drives, exciting all your senses… you are much more likely to buy a car.
It is similar with IDX. Home Buyers want to look at listings, pictures, details, what school it is close to, what neighborhood it is in, how far the commute is, if it has a pool. Once they start looking at listings they are more likely to request information from your site.
You may be asking yourself well that is all fine and dandy if someone searches on my site but my clients start their search on Redfin, Zillow, or Trulia.
True, but there is another place that many people start their home search and that is Google.
If you have the power of IDX, it has the benefit of built in Search Engine Optimization! If someone does a search on Google it is possible they could stumble across one of your listings. Once they have reached your site and you have an MLS powered home search many people will continue their search on your site.
There are additional SEO and Social Sharing benefits to putting IDX on your site…
Let’s look at in terms of the my5 Goals Of A Real Estate Website:
G.L.A.M.R.
G = Generate – IDX is the easiest, and most effective form of Generating Leads on a Real Estate Website
L = Legitimize – IDX will Legitimize your Real Estate Website
A = Authoritize – IDX will help you to look more authoritive
M = Multiply – IDX spreads the MLS Data all over the internet for, therefore multiplying your web presence
R = Residence – Your Real Estate Website is the residence, but your IDX helps bring traffic back to your Internet Residence
What IDX really stands for is MORE BUSINESS!
Spot-On Connect IDX WordPress Plugin
Diverse Solutions (Mapping IDX Search)
(I am an affiliate sales representative for IDX Broker, Spot-On Connect, and Placester)
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View Comments
Do the IDX providers you mention offer different services or would there be a need for only one? It would be awesome to read an article that compared the providers... it sounds like you're an expert in that you are affiliated with three of the four. Do you recommend one over the others or you cannot say due to agreements with the others? I'm going to research them today, but again, I hope people comment as to their hands-on experience and preferences. Thanks for the good content always!
Vicki... there is only 1 IDX service needed. They all offer some benefits and in the end, you can't really loose with any one of the four. It appears you have a Wordpress Website already set up. If you are going to set up your IDX on your own, I would suggest a plugin style. All four offer a plugin style.
You can look at cost... Spot-on and Diverse Solutions(plugin product) are both $29 month, though I am not a huge fan of Diverse Solutions plugin. Placester is $45 month. IDX Broker just upgraded their plugin, its called Platinum, however they also upgraded their prices at $59 month.
Spot-On, IDX Platinum and Placester are Mobile friendly, and attractive. They are all fairly easy to use and offer lots of lead capture options.
In the end... I think it depends on what you feel the most comfortable with.
Hope that helps.