iHomeFinder: IDX vs. VOW

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IDX vs VOW
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Introduction
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.
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IDX Features

• 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.

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What is IDX?
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.
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What is VOW?
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.
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Comparison
IDX
VOW
Allows users to search anonymously and quickly.
Has a hard time keeping up with technology in
most markets.
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Comparison
IDX
VOW
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.
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Comparison
IDX
VOW
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.
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Comparison
IDX
VOW
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.
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Conclusion
To learn more, download a free copy of our
eBook, IDX vs. VOW Change is Coming to New
York http//www.ihomefinder.com/new-york-idx/