IDX vs VOW

In June 2014, a big change came to the New York real estate market. The Real Estate Board of New York implemented Internet Data Exchange (IDX) as a listing service.

IDX made it possible for agents and companies to:  Use new search tools with thousands of listings in NYC.  Offer a cutting-edge website experience.  Compete in a tough and volatile market.  Meet market expectations by collecting, nurturing, and communicating with more prospective buyers and sellers.

Internet Data Exchange (IDX) IDX enables real estate professionals to display the most recent and comprehensive property listing data from a Multiple Listing Service (MLS) on their own company or individual websites.

Virtual Office Website (VOW) A Virtual Office Website is a concept that dates back to the late 1990s, when a number of brokers began creating their own password-protected websites.

Allows users to search anonymously and quickly. Has a hard time keeping up with technology in most markets.

There are some rules that come with an IDX system that define how listing data can be displayed, and each MLS system has variations to these rules. Comes with rules that can be too restrictive as the Internet evolves, which locks real estate agents into an outmoded business model.

Participation is voluntary, but by giving permission users are able to provide more listings on websites and gain increased exposure. Users can only view properties after they register as a customer of a broker, and agree to certain restrictions on the use of data.

Allows for more control over what is best for local homebuyers (within limits of MLS), giving consumers what they expect from real estate websites. Users can only view properties after they register as a customer of a broker, and agree to certain restrictions on the use of data.

To learn more, download a free copy of our eBook, “IDX vs. VOW: Change is Coming to New York”