My Buying Buddy IDX and VOW Solutuion

My Buying Buddy is an IDX / VOW solution providing self-service Home Search services for Consumers.

There has been an explosion of home buyers using the Internet, and that trend is set to continue. The new market place is on the web.

Five years ago few people were using the web to search for homes, today, some estimate it's as high as 80% or more.

IDX allows Brokers and Associate Brokers to display listings from the MLS, on their personal web sites.

Because it's considered advertising, each agent (with the permission of their Broker) can present all listings through their web site to any visitor WITHOUT the need for the visitor to agree to any formal terms and conditions. This does vary by area. Some local Boards have more restrictive practices which means that agents can only use solutions provided to them by their Broker

IDX is a Reciprocal Arrangement between Brokers

The concept of IDX is simple: Each participating broker contributes their listings to the IDX database and is in turn, able to display listings from all other participating brokers on their web site.

Some MLS's, for example Denver, have practically all Brokers signed up which means that nearly 100% of properties are included in the IDX database. This high rate of Broker participation in such areas has meant that the need for VOWs (Virtual Office Web sites) has been eliminated.

NAR made reciprocal Internet Data eXchange a mandatory policy effective Jan 1 2002.

Most regional MLS systems now have capability to allow IDX vendors, like Blue Fire Group, to integrate their systems to the IDX /MLS data.

IDX and VOWs

VOWs (Virtual Office Web site) are another mechanism by which a Broker can share MLS data with a consumer.

In a typical bricks and mortar office environment, if a consumer signs an agreement with the Broker and becomes a "client", then that Broker may share MLS data with the client.

This principle is the driver behind the concepts of VOWs.

There are many formal definitions of a VOW, buts here's how we like to define them:

A Virtual Office Web site is presentation of a Broker's business on the Internet. Its not about advertising or marketing - its is an on-line representation of the Broker and listings.

Just as in real office, if a consumer signs an agreement with the Broker, the Broker can then provide access to MLS data through their web site.

The critical point here is that in order to view the MLS data a consumer must be a "client". This mirrors the same policies as exist in a physical office.

The Difference Between VOW and IDX

With a VOW, a consumer has to essentially sign up and become a "client" in order to view listings data.

With IDX there are no mandatory barriers.

My Buying Buddy can operate as either a VOW solution or as an IDX solution depending on your local market conditions.