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Sign into your account1000watt Nails Large Broker IDX Strategy
August 15 2015
1000watt Consulting wrote a post this week that is a must read. View it here. Brian Boero's point is clear: "If you are a large firm with more than 10% market share – ditch IDX."
Reasons to Act This Way
- Compromised presentation of properties
- Raft of local competitors drafting on your listings
- Paper brokers leverage your data with impunity
- Relatively small number of leads that agents will probably drop the ball on.
I am not going to recant the entire article. Please go and read it. But I do want to reinforce one point and add another.
- Reinforcement – We studied response time to IDX leads. Fifty percent of inquiries get no response, and those that do respond usually do a bad job. Here is a whole white paper on the research. It's real.
- New Point – Consider an IDX/VOW combination website.
When a broker opts out of IDX, they cannot display other broker listings except when the consumer registers!
Once a consumer registers, your broker website becomes more of a buyer client servicing platform. Not only can you display all of the IDX listings, but you can display 100 percent of all information in the MLS other than confidential fields like commission and agent-to-agent comments.