IDX vs. MLS: What They Are and the

Differences Between Them

MAY 18, 2021

It can mean the difference between a full client load and an empty calendar.

Although the advice to choose a niche as a real estate agent is quite common, many new professionals don’t do so. Whether it’s due to the fear of making the wrong decision, a lack of understanding of the market, or a lack of faith in the “why” behind the advice, very few realtors start off strong with a niche.

However overwhelming the choice may be, it’s well worth it. The importance and impact of strategically choosing — and marketing to — a specific real estate niche simply cannot be understated.

What is a Niche?

A niche is a subset of the market you will focus on in your business. Choosing a niche means defining the specific group of people or types of properties that you will zoom in on as a real estate professional.

Endless niche options exist for realtors because niches can be narrowed down based on the types of properties you focus on, on location, or on qualities of a subset of clients. For example, some realtors specialize in working with first-time homebuyers or clients who are actively serving in the military.

Others zoom in on luxury real estate, mountain homes, farms, or oceanfront properties. The options are endless, and there are no wrong answers; what matters is getting clear about what your specialty is and who you serve!

Why Choose a Niche?

Choosing a niche or specifying a niche is often called “niching down” and can feel counterintuitive at first. Anyone in professions meant to serve people, realtors included, naturally tend to believe that the best approach to their business is to help anyone and everyone. After all, why would you want to “rule out” any portion of the population that’s in search of a realtor?

In reality, instead of ruling people out, strategically choosing a niche means you draw the right people in. Choosing a niche helps you position yourself strategically and intentionally to potential clients — the right potential clients for you. When you get specific about who you serve and how to do so, you instantly stand out from the sea of qualified real estate agents in your area.

Real estate listings are necessary for agents,

brokers, and buyers. But how are listings

compiled, shared, and viewed? Find out

about the MLS and IDX here.

Real estate listings are necessary for agents, brokers, and buyers. But how are listings compiled, shared, and viewed? Find out about the MLS and IDX here.

Listings are king in the land of real estate. Agents upload and manage them while

buyers peruse them. But where do listings come from, where do they live, and

how are they uploaded? Can the public view all of them, or are there some listings

only agents can see? This is where an MLS and IDX come into play.

What Is an MLS?

An MLS, or Multiple Listing Service, is a way for real estate agents and brokers to

upload, manage, and share local listings. Each MLS contains listings from a particular

area, be it a city or region. Agents and brokers pull from the pool and share relevant

listings with their clients. Each listing includes everything the agent (and client)

needs to know about a property, including images, descriptions, and any special

features.

Who Can Access an MLS?

While members can access every MLS, some MLS’s also have a public-facing portal

where buyers can search for available listings. These portals are similar to Zillow,

Redfin, or Realtor.com but have one significant difference: MLS’s have the most

accurate and up-to-date data. This is because agents and brokers are required to

keep their properties’ listing information current.

A Brief History of the MLS

First invented in the late 19th century, the MLS still serves a similar function today

as it did at its origin.

In the late 1800s, local real estate brokers had the practice of gathering regularly

to share the properties they were trying to sell. The brokers struck a deal with each

other: if one broker were to help another sell one of his properties, the original

broker would compensate him. This agreement turned into the Multiple Listing

Service.

Today, an MLS still allows agents to share listings and help each other sell properties.

However, rather than accessing the properties through paper or word of mouth,

today’s agents and brokers must log in to a database. These databases are hosted

on software, such as IDX.

What is an IDX?

An IDX, or Internet Data Exchange, is software that lets buyers search for their area’s

MLS properties. IDX is a revolutionary concept because it opened up a whole new

world for buyers. Before IDX, buyers had to rely on their real estate agent or broker

to view listings in their area. With IDX, the general public can perform their property

searches on a website featuring information uploaded to an MLS.

IDX is not a website itself. Instead, it is software that allows anyone to share the MLS

data on a 3rd party website. This way, agents and buyers alike can view the most

up-to-date local listings at any time.

The Challenges of IDX

While IDX is helpful and groundbreaking for buyers, not all real estate agents/brokers

feel the same way. Some agents and brokers would prefer to be the sole source of

listings for their clients. This would allow agents and brokers to weed out less-

suitable properties and present only the best options. The challenge with this

perspective is that a client loses out on a chance to choose from a larger pool

of properties.

On the other hand, some agents and brokers rely on IDX to drive traffic to listings

on their websites. They believe that IDX when incorporated on their websites, will

help their business by aiding in generating and retaining leads. The challenge with

this perspective is that IDX alone will not boost traffic, leads, or sales. In addition to

a website with IDX capabilities, real estate professionals need:

• A quality website with a positive user experience

• A well-rounded digital marketing plan that includes one or more of the following

strategies: SEO, PPC, and social media marketing

The Benefits of IDX

If you are an agent or broker with a quality website, the fact that you can display

listings from your local MLS databases is an exciting one. After all, the IDX:

• A fast and virtually effortless way to populate listings

• Allows agents to display more listings on their websites

• Help an agent’s listings to gain more exposure

• Present a valuable opportunity to post more quality content

• Draws more traffic to the website

• Increases the website’s authoritativeness

• Helps buyers find their dream property

• Helps an agent grow their client base and boost sales

If you are a member of the general public and are embarking on a property buying

adventure, the IDX system benefits you greatly.

Because MLS is a closed, members-only system pertaining only to agents and brokers,

you cannot browse any of these local listings. In turn, your available options seem to

be much less and are restricted to your agent’s choosing. But, thanks to the Internet

Data Exchange, you can see the same listings your agent or broker does.

IDX Rules for Professionals to Consider

The IDX system does feature a variety of policies that real estate professionals must

consider. These rules coincide with uploading listings and sharing properties from the

IDX on their personal/business website.

One of these rules is that a real estate agent or broker cannot upload a listing to the

IDX without the property owner’s permission.

The Difference Between MLS and IDX

In summary, the difference between an MLS and IDX is this:

• MLS is typically reserved for its members: real estate agents and brokers. Agents

and brokers upload and share listings and keep these listings up-to-date. Real estate

professionals then download or print these listings and share them with their clients.

• IDX is software hosted on a website that allows agents to populate listings from a

local MLS or multiple MLS’s in no time. In turn, IDX allows anyone to view these

listings and perform a property search without an agent or broker’s help.

Understanding the different approaches to online property information is critical

for setting your team up for success. Helping your clients find the home of their

dreams is the most important goal—MLS feeds and IDX can help you achieve that.

Get connected with the Luxury Presence team today to learn more.

Listings are king in the land of real estate. Agents upload and manage them while buyers peruse them. But where do listings come from, where do they live, and how are they uploaded? Can the public view all of them, or are there some listings only agents can see? This is where an MLS and IDX come into play.

What Is an MLS?

An MLS, or Multiple Listing Service, is a way for real estate agents and brokers to upload, manage, and share local listings. Each MLS contains listings from a particular area, be it a city or region. Agents and brokers pull from the pool and share relevant listings with their clients. Each listing includes everything the agent (and client) needs to know about a property, including images, descriptions, and any special features.

Who Can Access an MLS?

While members can access every MLS, some MLS’s also have a public-facing portal where buyers can search for available listings. These portals are similar to Zillow, Redfin, or Realtor.com but have one significant difference: MLS’s have the most accurate and up-to-date data. This is because agents and brokers are required to keep their properties’ listing information current.

A Brief History of the MLS

First invented in the late 19th century, the MLS still serves a similar function today as it did at its origin.

In the late 1800s, local real estate brokers had the practice of gathering regularly to share the properties they were trying to sell. The brokers struck a deal with each other: if one broker were to help another sell one of his properties, the original broker would compensate him. This agreement turned into the Multiple Listing Service.

Today, an MLS still allows agents to share listings and help each other sell properties. However, rather than accessing the properties through paper or word of mouth, today’s agents and brokers must log in to a database. These databases are hosted on software, such as IDX.

What is an IDX?

An IDX, or Internet Data Exchange, is software that lets buyers search for their area’s MLS properties. IDX is a revolutionary concept because it opened up a whole new world for buyers. Before IDX, buyers had to rely on their real estate agent or broker to view listings in their area. With IDX, the general public can perform their property searches on a website featuring information uploaded to an MLS.

IDX is not a website itself. Instead, it is software that allows anyone to share the MLS data on a 3rd party website. This way, agents and buyers alike can view the most up-to-date local listings at any time.

The Challenges of IDX

While IDX is helpful and groundbreaking for buyers, not all real estate agents/brokers feel the same way. Some agents and brokers would prefer to be the sole source of listings for their clients. This would allow agents and brokers to weed out less-suitable properties and present only the best options. The challenge with this perspective is that a client loses out on a chance to choose from a larger pool of properties.

On the other hand, some agents and brokers rely on IDX to drive traffic to listings on their websites. They believe that IDX when incorporated on their websites, will help their business by aiding in generating and retaining leads. The challenge with this perspective is that IDX alone will not boost traffic, leads, or sales. In addition to a website with IDX capabilities, real estate professionals need:

• A quality website with a positive user experience

• A well-rounded digital marketing plan that includes one or more of the following strategies: SEO, PPC, and social media marketing

The Benefits of IDX

If you are an agent or broker with a quality website, the fact that you can display listings from your local MLS databases is an exciting one. After all, the IDX:

• A fast and virtually effortless way to populate listings

• Allows agents to display more listings on their websites

• Help an agent’s listings to gain more exposure

• Present a valuable opportunity to post more quality content

• Draws more traffic to the website

• Increases the website’s authoritativeness

• Helps buyers find their dream property

• Helps an agent grow their client base and boost sales

If you are a member of the general public and are embarking on a property buying adventure, the IDX system benefits you greatly.

Because MLS is a closed, members-only system pertaining only to agents and brokers, you cannot browse any of these local listings. In turn, your available options seem to be much less and are restricted to your agent’s choosing. But, thanks to the Internet Data Exchange, you can see the same listings your agent or broker does.

IDX Rules for Professionals to Consider

The IDX system does feature a variety of policies that real estate professionals must consider. These rules coincide with uploading listings and sharing properties from the IDX on their personal/business website.

One of these rules is that a real estate agent or broker cannot upload a listing to the IDX without the property owner’s permission.

The Difference Between MLS and IDX

In summary, the difference between an MLS and IDX is this:

• MLS is typically reserved for its members: real estate agents and brokers. Agents and brokers upload and share listings and keep these listings up-to-date. Real estate professionals then download or print these listings and share them with their clients.

• IDX is software hosted on a website that allows agents to populate listings from a local MLS or multiple MLS’s in no time. In turn, IDX allows anyone to view these listings and perform a property search without an agent or broker’s help.

Understanding the different approaches to online property information is critical for setting your team up for success. Helping your clients find the home of their dreams is the most important goal—MLS feeds and IDX can help you achieve that. Get connected with the Luxury Presence team today to learn more.

As a luxury real estate agent, one of your top priorities is acquiring new clients and keeping those clients you’ve worked with in the past engaged so they will refer you to their friends and family who are buying or selling real estate. While there are numerous ways to do this, the top real estate agents in the industry know that social media is the most efficient and effective way to market to new clients and continue to be a resource to those they’ve worked with in the past.

If you’re not among the 20% percent of agents who know how to use social media to their advantage, you’re missing out. Here’s why, what you’ll gain if you leverage social media marketing, and how to get started.

The Dangers of Not Using Social Media Effectively

If you’re not effectively using social media to market your real estate business, you are missing out on potentially thousands of dollars of gross commission income. Why? Because you won’t reach new clients who are ready to buy or sell a home, and you won’t keep former clients engaged and encourage them to refer you.

Here are some more reasons why not using social media can be harmful to your business:

You won’t be able to reach your target market.

Every luxury real estate agent has an ideal buyer who makes up their target market. When you use social media marketing such as Facebook ads, you can create strategies that target those who are most likely to work with you and craft ads that appeal to them.

You will appear outdated and irrelevant.

In this day and age, those who are buying or selling homes turn to social media not only to find homes they are interested in but also to make decisions about which professionals to work with during the buying or selling process. If you’re not on social, your target market will likely get the impression that your business is outdated and not relevant to their needs.

You may appear unprofessional.

Using social media effectively is synonymous with being a professional in the real estate industry. If you don’t use best practices in your social media marketing or if you don’t use social media at all, your potential clients could perceive you as lacking in professionalism and opt to work with your competitors instead.

As a real estate agent, your website is one of your most important assets. The world of website design, hosting, and maintenance has changed over the years, and if you have not had a new website recently, you may not be aware of what is available. In the past, most agents purchased a website from a marketing agency or designer, paid to have it hosted, then paid for any updates or maintenance that needed to be done. Today, there is an alternative to that called Software as a Service that might be a better fit for your needs. Here is the difference between SaaS and owning your site and how to decide which is right for you.

What Happens When You Buy a Website?

When you buy a website, you are basically contracting with a designer or website agency to create a site for you. In addition to a large upfront cost, you will also have to pay for the domain and for hosting the site. Once the site is built, the company’s obligations are over. You will own the site, but you will have to keep paying for hosting. Unless you’re on some type of maintenance contract, you won’t have any support when it comes to keeping your site up to date and running properly. You will be responsible for adding or changing content, adding or removing listings, and keeping all your plugins and links working properly.

After a certain amount of time, your site will start to look outdated or not perform as well as it used to. At this point, you will likely have to go back to the original designer or choose a new one and either pay a significant amount to have your site completely revamped or start from scratch with a new site.

What Happens When You Use SaaS for Your Website?

When you work with a company that offers SaaS for websites, you don’t have to pay a large upfront cost to have your site built. Instead, you will be able to leverage already-existing designs and will only need to pay for the customizations you need to make the site your own, complete with unique branding, colors, and a layout that fits your unique needs. In addition to the site, you will also get a team of experts who are there to help you every step of the way. This includes customizing your site to your needs, providing support after your site is finished that includes any necessary updates or fixes, and answering any of your site-related questions.

Benefits of SaaS

There are numerous benefits of working with a company who offers SaaS to build your website. They include:

■ Lower costs. Because you are leveraging an existing template, your upfront cost will be much lower compared to buying a new site. Hosting fees are also included, and you won’t have to pay to have someone update your site, add content, or ensure all your links and plugins are up to date.

■ Expert support. Have questions about how to use your site? Want to add the bio and image of a new team member? Notice that a link no longer goes where it needs to? When you work with a company that provides SaaS, you get a team of pros to help you every step of the way.

■ A site that grows with you. Sites provided by SaaS companies are dynamic. Unlike an owned website that can easily become outdated, your SaaS site will grow as your agency grows. New team members, updated branding, added services, and new features can all be added as needed, ensuring your site will never become obsolete.

How to Choose an SaaS Provider

Of course, not every SaaS provider will give you a seamless, stress-free experience when creating and maintaining your site. Choosing the right provider is an important step in the process and it pays to know what to look for. Here are some tips to help you out:

■ Choose a provider with experience. Brand new agencies may have flashy branding or catchy taglines, but look a little closer to see how much experience they have creating SaaS sites. The more experience they have, the more likely they are to still be around for years into the future when you need them.

■ Choose a provider that specializes in real estate. Realtors have unique needs when it comes to marketing, and no one knows this better than an agency that works with only agents. When you choose an agency that specializes in your industry, you’ll benefit from a team that knows exactly what it takes to make you successful.

■ Choose a provider who is easy to communicate with. You need to be able to talk with the members of the agency to tell them exactly what you want, need, and expect out of a site. You also need pros on your side who are responsive to questions, know how to explain things to you in plain terms, and put your needs first.

■ Choose a provider who offers other services. Your website is the core of your marketing plan. If your provider can build other marketing strategies around it, you will be one more step ahead of your competition. A robust agency who offers SaaS as well as lead generation, database, and social media marketing solutions will be able to create a cohesive plan that delivers results.

■ Choose a provider with no hidden costs. Everything you will need to pay for your site should be discussed upfront. Hidden fees or other costs that aren’t discussed before you sign the contract are signs of a disreputable agency.

Do you need a new website for your real estate business? Consider taking advantage of where the technology industry is headed and work with an SaaS provider for a dynamic site that grows with you. Want to take the next step? Reach out to the team at Luxury Presence so we can tell you about our SaaS services.

Database Marketing Strategies

The Importance of Your Website as a Realtor

Why is Your Database So Important?

Your database is your key to staying in touch with those who may do business with you or who are likely to give you referrals. If you don’t have a way of keeping in touch with them and engaging with them, they will likely forget about you and their business (or referrals) will go elsewhere.

While many agents think they can keep track of those they need to touch base with by retaining their business cards, writing them down in their planner or simply remembering who they are, most are not organized and disciplined enough to do so. They need to rely on a system that involves not only building their database, but also effectively using that database to develop marketing campaigns that can include email newsletters, text campaigns, phone calls, or social media marketing strategies.

Some real estate agents decide to split their databases into two distinct groups: a lead generation group that includes only those who the realtor is attempting to gain as clients, and a sphere of influence group that includes past clients, networking and referral partners, and others who are likely to pass their names on to others who need a real estate agent. While both of these types of databases are useful, most agents find they get more business from their sphere of influence group than their lead generation group — especially if they are not using a professional, unique lead gen system.

What Mistakes Do Agents Make When Building Their Database?

Many agents suffer from “shiny object syndrome” when it comes to building their database. Instead of playing the long game and focusing on ways to slowly build their database with solid leads and close spheres of influence, they jump on the latest and greatest marketing trend and shift their efforts to a strategy they think will make them some quick sales. Unfortunately, a change in algorithm or other occurrences out of your control can easily put an end to the effectiveness of trendy marketing techniques. When you focus on building a solid database, you’ll insulate your business from external changes and reap the benefits a few years down the line when your list pays dividends and your income skyrockets.

Other agents do a good job of building a strong database, but then fail to utilize it by not creating a robust marketing strategy connected to it. Compiling the names is only part of the battle. The more important component is developing a system that consistently engages those in your database to keep them up to date and interested in what you are currently doing. Your system also needs to have “triggers” to let you know when someone in your database is at a stage where they might make the decision to work with you or pass on a referral so you can follow up with a phone call or an in-person meeting.

The Wrong Messaging

Build and Market to Your Database

As a realtor, your database is your best friend. This is your list of past, current, and prospective clients as well as referral sources who can help grow your business. A basic rule of thumb is that an effective database consists of around 1000 names and contact information. Once you’ve built a solid database, you can market to your contacts through regular email newsletters, texts, or personal invitations to events or open houses. The marketing you do to your database should follow the same guidelines as your social media marketing: keep content informational and helpful rather than salesy. This keeps your contacts engaged with your brand and ensures they will continue to pay attention to what you have to say even when they are not actively looking to buy or sell real estate.

Harness the Power of Social Proof

The theory of social proof states that people are likely to conform and copy the actions of those in their peer group or those they view as experts or who are trustworthy. When it comes to real estate marketing, you can take advantage of social proof by featuring testimonials on your site and social media, soliciting online reviews from those you’ve done business with, and by establishing yourself as an authority on the local real estate market with helpful, informative content. When you harness the power of social proof, you essentially have others selling for you and no longer have to hustle or chase leads.

2. Links to Active Social Media Profiles

Having a strong social media presence shows your

potential clients that you are up to date, active in the

industry, and committed to connecting with those you

work with. To make it easy for your website visitors to

connect with you on social media, make sure you add

links to each of the platforms you are on.

2. Links to Active Social Media Profiles

Having a strong social media presence shows your

potential clients that you are up to date, active in the

industry, and committed to connecting with those you

work with. To make it easy for your website visitors to

connect with you on social media, make sure you add

links to each of the platforms you are on.

Database Marketing Strategies

The Right Messaging

Now that you understand that talking yourself and your accomplishments up on your site is the wrong messaging, let’s take a look at the content that works. Here are some tips on creating messaging that resonates with your target audience:

Content that is helpful. What are the issues your ideal client is dealing with? Are they attempting to buy and sell homes at the same time and need assistance with financing a down payment? Are they struggling to find a home they are interested in due to low inventory? Are they trying to decide if they should relocate or buy a second home now that they are empty-nesters? Identify the pain points in your target market, then address those points through blog posts that you then share on social media and in newsletters that go out to your database.

Content that establishes you as an expert. Those looking for help buying or selling property want to work with the best. To show that you are an expert in your local community and industry, develop content that revolves around neighborhood events, local real estate news, and other industry issues.

Content from experts and past clients. When you use the power of social proof to develop your website content, you let others do the selling for you. Social proof is the phenomenon where others copy the actions of people they see as peers or as trusted individuals. If they see your past clients talking about your high level of customer service in a video testimonial or read reviews from experts in the industry who have worked with you, they will be more likely to choose you as their realtor.

Content that stays ahead of the game. Your ideal client wants to know what’s going on in the industry as soon as possible. They also don’t want to read the same old content on your site that they’ve read on all your competitors’ sites. To address these needs, stay on the cutting edge of the industry and share information your visitors can’t get anywhere else.

Components of an Effective Lead

Generation System

How the Right Messaging Increases Conversions

Additionally, choosing a niche allows you to optimize your time and deep-dive into the knowledge and skills needed to best serve your clients. There are countless nuances, specialized documents, and small bits of information that are pertinent to any niche, and trying to serve all niches equally well can quickly lead to burnout.

For example, realtors who specialize in helping military families can serve them best by learning all there is to know about VA loans and the best local lenders. On the other hand, if you’re a “generalist” and only take on one or two military clients each year, it’s likely that you’ll end up doing research on VA loans on the fly without being able to do a true deep dive. Choosing a niche frees up your time and energy while also allowing you to provide the very best service to your clients.

While remaining general and marketing yourself as a great real estate agent can work to bring in clients, you instantly cut through the noise when you position yourself as a specialist for a particular type of transaction, home, or person. Many people know what they want out of their real estate experience, so quickly identifying yourself as someone who can provide that specific result will go a long way in filling your inbox with qualified leads.

Choosing a niche and producing online content focused on that niche will also boost your SEO considerably, making it much easier for anyone searching the internet to discover you. SEO for realtors can work as an ongoing source of leads and revenue without much manual effort.

Once you’ve narrowed down your target market and begun producing content relevant to them, your web content will rise to the top when prospects search the internet for the solutions to their problems! As great as it feels to receive a referral or recommendation from a former client, optimizing your web presence will prevent you from leaving money on the table when clients without connections go to search for an agent.

Beyond that, niching brings some ease into your marketing and processes. It’s much easier to create relevant content and provide value when you know who you’re talking to! You’ll quickly establish yourself as an expert in your niche, even if you’re new to the real estate profession.

The Benefits of Using Social Media Effectively

To use social media effectively, you first need to develop a cohesive brand that is recognizable to your target market. Most agents are aware of this and have put time and money into creating a unique brand that speaks to their target market. Using this brand in your social media campaigns can elevate it and make you into somewhat of a local celebrity. This status creates the need in your potential clients to only work with the best in the industry: a.k.a. YOU. Not only will they gravitate toward your business for their personal buying and selling needs, but they will also be more likely to refer their friends and family to those whom they perceive to be the best of the best.

In addition to increasing the visibility of your brand, the effective use of social media can help you narrow down your target audience and deliver the marketing messages that will be most persuasive to them. You can also use social media analytics to pinpoint which of your ad campaigns are the most effective and to tweak your less effective campaigns to mimic those that are delivering results.

Social media also helps you leverage the online real estate trend that took off during the pandemic. With social media, you can promote online open houses and virtual tours, both of which can help you market homes to local and out-of-state (or out-of-country) buyers. You can also conduct Facebook Live events to show off the special features of a home you are selling and introduce potential buyers to the neighborhood.

What to Do Now

Now that you know the dangers of not using social media and the benefits of creating a solid social media presence and effective marketing campaigns, it’s time to implement your own social media strategy. Put time and effort into creating a presence on your chosen social media platforms that reflects your expertise and unique talents or experience. Research what your target clients care about and what they most want out of their real estate professionals so you can help identify with them and address any pain points they have.

Some real estate agents have large enough teams that they can afford to hire an in-house marketing professional who can help them implement and promote a strong social media presence. If you do not have a large team, don’t try to handle all your social media marketing yourself. This will take away from what you do best — helping your clients buy and sell homes — and you likely will not be able to keep up with all the changes that occur on social media platforms and create content that outperforms your competition.

The best piece of advice for most agents is to work with an outside agency that specializes in online marketing for the luxury real estate market. When you partner with a pro, you can spend your time on what you enjoy doing and allow the experts to take your social media marketing to the next level.

Ready to become a local celebrity in the social media world, target those who are most likely to work with you, and increase your brand awareness? Reach out to one of the experts at Luxury Presence. We will help identify what makes you unique and implement your brand to craft a social media strategy that will elevate and distinguish you from your competitors.