What is IDX?
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. (Definition from Wikipedia)
Only for Buyer Leads?
Based on the definition above, the assumption is that a IDX Website is only good for generating buyer leads. By default that answer is true. If you get a nicely designed website and get a Premium IDX Solution integrated with your site, then you will have a website that is focused primarily on buyers. For most agents that works out great. Being a Buyers Agent is a great way to make money in Real Estate. If your website is based on your local market then you will be providing buyers what they need for an efffective home search.
IDX and Listings
Let’s say you already have a Local Real Estate Website with IDX, how can you get listings with your site?
- Sellers are Buyers! – The average seller needs to buy a new home. Most people move locally which means that they will most likely search for properties before they put their home on the market. Benefit to you, you get to not only represent them on the sale of a property but also on the purchase of a new property.
- Sellers Use Google – This is basic. If you want to know something what do you do? You google it. Sellers do the same thing. They google what homes are selling for in their market so they can get a sence of what the going rate is for a home like theirs. They also want to get an idea of who the players are in the local real estate scene.
- Sellers Want a Marketer – As a Realtor you think your job is helping people Buy and Sell Real Estate. The reality is that in order to succeed in the Real Estate Business, you need to be a Real Estate Marketer. When you show up for that Listing Appointment and show the Sellers how you will Market their home not only on the major portals like Zillow & Trulia like every other Agent & Broker does but also on your very own Website that is nicely designed and provides buyers with all the local information, you will get a better chance of getting the listing.
- Sellers Want a Realtor thats Connected – Your Website is one of the major tools in your arsenal. Social Media is also a tool. But to be successful on Social Media, you need to provide useful information which comes from where? Your website. Blog often about Real Estate in your local market and share that Blog Post on Facebook, Twitter, LinkedIN and Google+. Build a following and you will be that connected Realtor.
- Sellers Want a Realtor with a Big List – Email is still one of the best ways to stay in touch with people. With tools like Mailchimp that provides a Free Email Service that helps you setup email campaigns, email should be a big part of your game. So build that email list and show your Sellers that you will be emailing their property to your BIG LIST of Realtors and Buyers.
- Sellers Want a Pro – Do you have a Business Card? If the answer is no, then get one! If the answer is yes then what’s on it? Does it just say the name of your company or does it provide more information on how people can reach you? Obviosuly your card should provide some basic elements. (Business Card Article). Would you ever have a Business Card that says Yellow Pages? Then why only depend on a Third Party Search Portal that features thousands of your competitors? Show Sellers that you are a Pro by having a Local Real Estate Website with IDX.
- Sellers Want to be VIPS – When you have your own website, you can provide buyers with information they need but you can also Prominently Feature your Listings and give Sellers the Red Carpet Treatment.
- Sellers Want Proof – It’s easy to say that you are the best. Sellers want to see the proof. Websites that we create have Analytics built into them so you can show the sellers how many people are visiting your website daily, weekly and monthly. Your website should have some key features, Social Sharing built in, Email Sign Up forms and Search Engine Optimized. Show them the Analytics, Your Connections and how people will find you online. The Proof will set you apart from the competition.
- Sellers Want the Brand – Real Estate is a highly competitive field. You might have joined the big Agency in your area, but that big agency has a lot of agents. Get Branded with your own Domain Name, Slogan and Persona. You want to be remembered and searchable. Everything you do on and offline should have your Brand Name baked into it. Name your website after your Brand.
- Sellers Want to Sell! – This is obvious. They want to sell their home. The fastest way to do that is by generating a ton of Buyer Leads. The most cost effective way is with your own website. The more Sellers you Satisfy, the better your Brand becomes.
So there you have it. A website with IDX is great for Buyer Leads, Great for Sellers and Ultimately Great for you and your Business!
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