IDX (Internet Data Exchange) is a revolutionary concept and does require some understanding before you determine how to best apply its benefits to your business. This section contains important detailed information concerning this program, including its rules, product list, pricing, fines and forms.
What Is Internet Data Exchange and Why is State-Wide MLS Offering It?
Internet Data Exchange or IDX is part of a larger National Association of REALTORS objective of empowering the Member to deal with the real estate consumer of the future. This entire program is focused on the fundamental ability of Members to post active MLS listing data on their web sites.
State-Wide MLS is cooperating fully with the NAR mandate by creating services that will: 1) permit brokers to fully market their services on the Internet; 2) permit the brokerage community to take advantage of the data brokers have contributed to the system; and 3) permit brokers to obtain and maintain first contact with the consumer in the real estate transaction.
Increasingly, consumers are looking to the Internet for information about real estate for sale – State-Wide MLS wants to insure that its Members can meet the needs of this new type of consumer. Until this program, consumers were not finding that information at broker-owned web sites…now they can.
Even if you do not presently have a web site or never intend to, you and your clients can still participate in IDX, so you need to understand the essentials of this program as it impacts every Member, every listing and every perspective homebuyer and homeseller.
How Does My Office Participate In This Program?
This is actually a two part question – (1) How do I participate in the entering of my listings in this program; (2) How do I participate in the display of MLS’ listings on my website.
- Entering listings into the program:
By simply entering listings into the MLS system, Members have almost already completed all that is needed to participate in the program. For no additional cost, Members have the option to enter their listings into the database that’s used for the display of listings on Rhode Island Living and the RI Living SmartFrame Product (by choosing “Y” in the INTL field of MLS) and/or enter their listings into the database that’s used for the IDX Data Pipeline service which allows other Members to post the listings of other on their site (by choosing “Y” in the IDX field of MLS).NOTE: The default for IDX is “Opt-In” for the office and “IDX=Y” for their listings. Firms that ‘Opt-Out’ of the IDX Program cannot enter listings into MLS with a “Y” in the IDX field and are not allowed to post IDX listings of other IDX Members on their web sites. Further, an agent can only participate in IDX with the approval of their Broker.
- Displaying listings included in the program:
There are numerous ways to take advantage of what this program has to offer. In State-Wide MLS’ compliance plans, it was paramount that we develop solutions for every type of Member – from those wishing not to participate to the computer-savvy; from basic, no-cost programs to full-featured, fee-based solutions.
IDX Information – Compliance Policies
Section 13 & 14 of the State-Wide MLS Rules and Regulations contain provisions relating to IDX. These provisions are reproduced in their entirety here.