Buyers want to know:
- What’s for sale?
- What’s the house worth?
- How’s the market?
IDX has been the central focus of an agent/broker online marketing strategy for a long, long time. It answers the “whats for sale?” question every buyer wants to know.
The latest Listing Bits podcast, and mention of Placester raising another $50M got me thinking about the topic of IDX.
I’ve long thought there is an argument to be made that IDX is not a worthwhile investment for an agent/broker (read this post from 2013). Many of those reasons are even stronger now than they were 4 years ago, with the continued domination by the portals. In fact, there is no IDX on Heidi Ward’s website (http://www.heidiwardrealestate.com/) (who I used to consult for).
It begs the question, what happens if…agents/brokers deem IDX NOT to be a critical piece of software to purchase? What if it’s deemed search is a lost cause simply not worth the investment to keep up with consumer expectations?
IF that happens — what replaces IDX as the central piece of software for every agent/broker?
I’d argue the new critical piece of agent/broker technology will combine listing alerts / analytics / CRM.
I’m not saying IDX WILL become irrelevant. Irrelevant is a strong word. That said, it doesn’t bode well for those software vendors who make their living by selling IDX.
At a minimum, a world in which agents/brokers don’t feel IDX is a critical investment is worth pondering — particularly if you’re a software vendor selling IDX.