In this week’s YouTube video, I’m talking about how real estate agents can use IDX. I’ve been in the real estate web development industry for more than a decade now, and I frequently get questions about what IDX is and how it works.
What is IDX?
Internet Data Exchange, or IDX, is a service provided by a third-party intermediary that feeds MLS data into your website. If you build a website and want your site visitors to be able to search the MLS, IDX is one of the tools you might use to achieve this.
How is it integrated into real estate website?
A third-party company takes the MLS data, creates a web application, and installs it into your website.
Why do people use IDX?
Unfortunately, it’s not so easy to go straight to your MLS and ask for the data. The biggest hurdle is cost; licensing MLS data is expensive. The second hurdle is talent; you need a web developer to interpret that data and pivot it into a meaningful web application. This process is called RETS (I talk about the difference between RETS and IDX here).
How does IDX help?
IDX companies subsidize the cost of using MLS on your site by having multiple real estate agents subscribe to the same data to help drive costs down.
Are there any cons to IDX?
Although you do save quite a bit of money, the biggest drawback to IDX is lack of customization. All IDX pages look the same, so there’s little to no differentiation from other agents.
How much does it cost?
A typical IDX service subscription costs a few hundred to start a data subscription, plus monthly data costs of around $50.
Check out the video to learn more about IDX and how you can leverage it for your real estate business.
Marketing is a huge part of any real estate agent’s growth strategy. After all, marketing is how you communicate your message. And yet, I see