Know Your Lingo: What’s IDX/VOW?
The real estate industry has come a long way when it comes to displaying properties currently on the market. This leap in technology can be credited to two, three letter words – IDX & VOW. Have you ever wondered exactly what those terms mean? Are you new to the industry and need a quick rundown? There’s a lot of great info to know about IDX/VOW so let’s start with the basics.
How IDX Works
IDX, or Internet Data Exchange, encompasses various policies, rules, regulations and software that help display property listings to the public. Homes that are currently on the market are placed on a Multiple Listing Service but only members of that MLS can access this list of properties. So what happens when an agent wants to display housing information from an MLS they aren’t apart of? How do home buyers and sellers access housing information? IDX was created to remedy this exact problem – it pulls data directly from the MLS allowing agents to display property information on their personal sites. Now all you need is a trusted IDX provider (hint, hint) to equip your website with the best IDX property search and you’re all set!
Adding Value with VOW Data
VOW, or Virtual Office Website, is very similar to IDX but with a few subtle changes and additions for home buyers. VOW data offers even more in-depth information about a property such as how many days on market, original list price, and any price change history. Additionally, in order for customers to access VOW data they have to register with an email and password before seeing property information. This provides a great way for agents to build their potential lead list with VOW! One important thing to note – VOW data is not always available in every MLS market or region. Any good IDX/VOW provider will notify their agent and brokerage customers once VOW data has become available in their market.
IDX & VOW are both vital tools in helping agents and brokers bring home buyers and sellers into the market. While there’s plenty of information and history behind both, this high level explanation can hopefully shed some light on the process it takes to bring your real estate property search to life!