Internet Data Exchange (IDX) FAQ
Q: What is Internet Data Exchange / IDX / Broker Reciprocity?
A: Internet Data Exchange (IDX), which was known as Broker Reciprocity in its early days,
is the policy instituted by the
National Association of Realtors (NAR) to govern how MLS Member participants
can display active MLS listing information on their websites.
Q: Why should I care about IDX?
A: IDX allows for the greatest amount of
exposure of an MLS's property listings. Small Brokers with few
listings can drive Clients to their sites, with the Client
being confident that they aren't missing listings. Large Brokers
can retain more Clients and increase their value by providing a
single source for a region's listings.
Stated another way, it levels the Internet playing field and maximizes the visibility of listings.
- If you are the Buying Agent or Broker, you can be sure that you are presenting your website viewer with the greatest sellable inventory possible, all of which the client will learn about through your website.
- If you are the Selling Agent or Broker, your listings will be visible to all of the website visitors on all of the websites of the other Member participants of your MLS.
Q: Why should I use Pro Step IDX instead of/in addition to services
from national real estate websites?
A: Listing display services from sites like Realtor.com or MSN Home Advisor
do give your listings more exposure on a national level, but when it
comes down to it, most of your business will be done locally. Also,
when the national sites show properties, they are doing so without
regard to the individual agent or broker. Those sites consider themselves
the center of the real estate picture.
Pro Step IDX keeps you, the MLS Member, at the center of the real estate picture. You can present access to the full MLS database to clients through your web site. When clients see listings they like, they are informed the they should contact you to learn more about them, giving you the maximum Buyer's Agent/Broker opportunities.
Q: Why should I use Pro Step IDX? My MLS has a website already -
Can't I just refer my visitors there?
A: If your MLS already has a website, that is good - they are also
doing their part in giving the Members' listings maximum exposure.
However, when listings are presented through your MLS's website, they
show the detail of who the Listing Agent and Broker are and how to contact
them. If you refer a client there, you may lose them to another Member.
With Pro Step IDX, your MLS has chosen the best solution for you, the Member. You can present access to the full MLS database to clients through your web site. When clients see listings they like, they are informed the they should contact you to learn more about them, giving you the maximum Buyer's Agent/Broker opportunities.
Q: Wait a minute! If I'm selling someone else's listings, I have to
split the commission with them. Why should I care about that?
A: That is true - if you're the Buyer's Agent/Broker, there is also
a Listing or Selling Agent/Broker. Your commission may be cut in half
on those listings, but your sellable inventory has gone from a handful
to thousands! With your volume of sales tripled, quadrupled or more,
wouldn't that be worth it?
Additionally, many states are inacting guidelines for real estate professionals that don't allow them to act on behalf of both the Buyer and Seller. This is due to the fact that it is difficult to represent both parties fairly and objectively. The real estate transaction process is still a complex one, and Buyers will go on needing someone to represent their interests. Shouldn't it be you?
Q: Is confidential information displayed?
A: As with all other information from your MLS, only public
information is shown to the public.
Q: Who governs IDX / Broker Reciprocity?
A: It is governed at the national level by
NAR. Each MLS also has its own policy. Please contact your MLS
for theirs.
Q: When was the Broker Reciprocity / IDX policy approved?
A: The NAR Board of Directors approved the policy on May 22, 2000.
Q: When did Broker Reciprocity / IDX become mandatory?
A: All MLSs had to have a policy and procedure for data distribution
in place by January 1, 2002. If your MLS does not have a policy or
procedure yet,
tell us about it
so that we can get them the Pro Step IDX solution!
Q: How can I find out more about Broker Reciprocity?
A: You can read
the update
at One Realtor Place, which includes the full
text of the policy at the bottom of the page.