IDX stands for Internet Data Exchange. Basically these are fancy words for what we would call Advertising. An IDX is an internet advertising format that makes all TREB’s listings available to all TREB members to advertise on their own web sites.
The key is that all TREB MLS listings are shown on your web site with your information as the contact person. The listing brokerage is shown in the information, but the listing sales representative is not.
Since TREB owns the data in our MLS system, TREB can decide that all listings placed in our MLS marketplace will automatically will be available to all our members in their IDX websites. If a brokerage does not want to have their listing appear on other agents IDX web sites they have the option of not placing the listing in our MLS Marketplace.
As TREB would be providing the data and format for the ads we would not be limited to what CREA’s MLS.ca provides. TREB could add Google Maps and other add-ons that the consumers want and that MLS.ca does not provide. MLS.ca is very limited in what it can offer as it has to satisfy the needs of all Canada, whereas TREB can be more flexible as we only have to satisfy our members.
Benefits for agents in TREB adopting an IDX solution.
1. All TREB members who own TREB and TREB’s data equally; will have equal access to TREB listing data for advertising.
2. Agents will be able to customise their web sites to promote their specialties.
3. Agents will be able to customise their web sites to attract the type of clients that they would like.
4. TREB could provide the listing information in different languages for Toronto’s many different communities and foreign buyers.
5. When agents advertise their own web sites they will be able to gain the benefit of consumers viewing all TREB listings on their web site without the fear of losing these customers to the listing agent.
6. Agents and brokerages will be able to add additional information to enhance the consumers visit to their web sites and in viewing listings on their site, benefits such: as area demographics, school reports, Crime statistics, local business information. The sky is limited only by your imagination.
7. Agents will be able to show as much listing information or as little information as they like, within the parameters of TREB’s IDX policy. (Privacy is always a paramount consideration)
Benefits to the consumer in TREB adopting an IDX solution
1. Since TREB will be providing, from TREB servers, the information on the agent IDX’s there will be no lag time as there is with MLS.ca. It can take days for TREB’s listing data to get on the MLS.ca website.
2. Consumer frustrations in finding many properties already sold on MLS.ca will be reduced as TREB member’s IDX’s will be able to show properties that are sold conditionally as such.
3. Consumers will love the enhancements such as Google Maps that TREB can provide.
4. Treb will be able to respond to consumer wants and implement changes much more quickly than MLS.ca. It takes years to change things at MLS.ca, if ever. I know.
Questions:
Does this mean that TREB listings will not be available on MLS.ca?
Treb listings will be available on MLS.ca but not in the current MLS.ca format. When a consumer goes to MLS.ca and ends up wanting to look at TREB area listings their search will produce the requested information, but the information will be on a TREB members IDX.
How does it get decided on whose IDX the listing information will show up?
The simple and fairest way is for the distribution to be selected at random from all our membership, but this may not be the most effective for our members and may not be the best way of providing the best outcome for the consumer. If a buyer is looking for properties in the country and gets an agent that really only wants to deal with downtown condo’s this may be a problem. It would be better if the consumer was directed to an agent that dealt with that type of property in that area more specifically. This kind of system can be set up giving our members the choice of what kind of prospects they would like to receive. These choices would be at the option of the member. The beauty of this kind of system would be that each agent would then have funnelled to them the type of buyer they want to deal with.
If you have questions please email me and I will answer them and post the answers here. mikemanley@torontothegood.com
The following are PDF examples of IDX listing ads for the same listing from different London Real Estate Board agents. These are simple IDX's mls398786LynneMallette.pdf mls398786pieterson.pdf
The following are examples of IDX ads that are interactive with the data allowing buyers to book an appointment etc. these are more how I would envision our TREB IDX ads to look. heckler_homes Link CBburnet link
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