Internet Data Exchange
Encyclopedia
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.
Site users generally gain the benefit of anonymous property searching and review. IDX sites usually provide less detailed information than the full Realtor Multiple Listing Service, limiting the data to that which is deemed publicly accessible. This system benefits both parties. The benefit to realtors is that users of their IDX web site can search freely, establish some confidence, and qualify themselves before contacting the realtor. The benefits to clients is to save time and refine their targets.
Certain rules apply to the real estate companies' ability to display each detail about a property. These "display rules" are set by the Multiple Listing Service organization, which generally forms its policy around the recommendations of the National Association of Realtors
.
IDX policy is nearing its replacement by a new Internet Listing Display
policy being formed by the National Association of Realtors.
A common and standard data exchange protocol for IDX information is the Real Estate Transaction Specification or RETS.
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
property search site which allows the public to conduct searches of approved Multiple Listing Service
Multiple Listing Service
A multiple listing service is a suite of services that enables real estate brokers to establish contractual offers of compensation , facilitates cooperation with other broker participants, accumulates and disseminates information to enable appraisals, and is a facility for the orderly...
properties in a certain area.
Site users generally gain the benefit of anonymous property searching and review. IDX sites usually provide less detailed information than the full Realtor Multiple Listing Service, limiting the data to that which is deemed publicly accessible. This system benefits both parties. The benefit to realtors is that users of their IDX web site can search freely, establish some confidence, and qualify themselves before contacting the realtor. The benefits to clients is to save time and refine their targets.
Certain rules apply to the real estate companies' ability to display each detail about a property. These "display rules" are set by the Multiple Listing Service organization, which generally forms its policy around the recommendations of the National Association of Realtors
National Association of Realtors
The National Association of Realtors , whose members are known as Realtors, is North America's largest trade association. representing over 1.2 million members , including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries...
.
IDX policy is nearing its replacement by a new Internet Listing Display
Internet Listing Display
Internet Listing Display is a set of rules put forth by the National Association of Realtors that regulate how homes and properties can be displayed on internet sites...
policy being formed by the National Association of Realtors.
A common and standard data exchange protocol for IDX information is the Real Estate Transaction Specification or RETS.
See also
- Multiple Listing ServiceMultiple Listing ServiceA multiple listing service is a suite of services that enables real estate brokers to establish contractual offers of compensation , facilitates cooperation with other broker participants, accumulates and disseminates information to enable appraisals, and is a facility for the orderly...
(MLS) - Real Estate Transaction StandardReal Estate Transaction StandardRETS is an acronym which stands for Real Estate Transaction Standard.RETS was created to overcome the difficulties presented by the existence of a large number of organizations desiring to share and distribute real estate information with others. RETS addressed this need by providing a common...
(RETS) - Virtual Office WebsiteVirtual Office WebsiteA Virtual Office Website is a web site that is used to conduct business activities. One example is a VOW used as a real estate property search site allowing the public to conduct searches of approved Multiple Listing Service properties in a given area under certain conditions...
(VOW) - Internet Listing DisplayInternet Listing DisplayInternet Listing Display is a set of rules put forth by the National Association of Realtors that regulate how homes and properties can be displayed on internet sites...
(ILD)
External links
- IDX (Internet Data Exchange) Information and Resources, National Association of RealtorsNational Association of RealtorsThe National Association of Realtors , whose members are known as Realtors, is North America's largest trade association. representing over 1.2 million members , including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries...
- What is IDX/Broker Reciprocity?