IDX Broker Regulations
IDX is an acronym meaning Internet Data Exchange. There are many real estate brokers and agents who benefit by using this service. It enables the real estate agent the ability to display up-to-date and comprehensive property data on their websites. The National Association of Realtors established the IDX as a type of policy that allows an IDX broker to display or exchange one another’s real estate and property listings on the Internet.
Another name that is commonly used for IDX is Broker Reciprocity. This name signifies the cooperative exchange that can exist between real estate agents and brokers. Even though IDX is a type of policy, it also signifies an MLS System’s set of rules on how to display listing data. It is interesting to see how IDX works. MLS systems will make various property listing data accessible to IDX vendors. They do this by means of an IDX data feed.
An IDX provider will download during the day applicable property data from an MLS system. They make this valuable data available for display or search on all of their client’s websites. There are situations where some IDX brokers or agents are able to connect to a direct IDX data feed. Unfortunately, this is only available in certain areas.
Members of a real estate MLS System are the only ones that can use this data and display it on their websites. The majority of real estate boards, brokers, and agents are only allowed to have IDX on their own personal websites. There are certain boards that only permit IDX for their office or broker and not for individual agents. It is important to note that an IDX account can not be shared with a broker or agent from a different brokerage office. Only one IDX license can be used for each website, and your website will be better than ever.