The Internet is changing the way real estate is marketed.
Someone recently said that real estate agents spend most of their time and effort trying to generate sales leads.
So where are these leads coming from? Well, with an explosion of buyers now using the Internet, and that trend set to continue, the new market place is on the web.
The conclusion is simple - if you want sales leads, you better have a serious and effective way of generating leads from the Internet. IDX is a new technology development that allows any real estate agent to aggressively address this issue.
A 2002 survey by KB Homes in California, showed that 58% of home buyers used the Internet to find information on homes. According to NAR (National Association of Realtors 2000 Profile of Buyers and Sellers) Internet buyers spend 20% to 50% more on homes, close deals in half the time and are more likely to use an agent to buy or sell.
Internet Data eXchange (IDX) is the formal title for what has been called Broker Reciprocity. IDX participants agree to share active listing information with each other for the purpose of internet advertising.