Over the past two weeks, I’ve dug a little deeper into what IDX and RETS mean. This week, I want to focus on the key differences between them.
RETS is an expansive MLS database of properties that real estate agents can use to create their own web applications, tools, and reports. Internet Data Exchange, or IDX, is a service provided by a third-party intermediary that feeds MLS data into your website.
My comparison breaks down to four different categories: speed, frequency of updates, ease-of-use, and price. Here’s what you need to know:
IDX speed varies depending on the company you’ve chosen to work with. RETS utilizes a saved and stored database to spew information much quicker.
Frequency of Updates
You have no control over how frequently IDX updates their database. RETS, on the other hand, allows you to choose how often you want your system to update MLS data.
Ease of Use
The IDX user interface is familiar and intuitive. RETS is a bit more complex, as you’re working with unfinished raw data to build a digital product from scratch.
Setting up an IDX is far less expensive than RETS, largely because it requires an expert web developer that can build out raw RETS data into a tangible product.
Both platforms have their own pros and cons, and what you need depends on your budget and short and long-term real estate career goals.
Be sure to check out our YouTube video for a more in-depth explanation of what IDX is, what RETS is, and how they stack up against one another.
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