Denver Metrolist Announces Sold and Under Contract Data for IDX

Few Real Estate Brokers understand the Power Of IDX

BrokerIPTV : Talking today with "Mark Footer from Intero Real Estate Services" and a member of the board at MetroList, Mark thanks for being with us.

Mark Footer: Dan thanks for having me.

BrokerIPTV : Glad you are here. I want to talk about internet data exchange or as most people call it IDX, tell me a little bit about IDX what is it?

Mark Footer: IDX is the ability to share other brokers listings on your website and is the public interface searchable interface that brokers can make available to consumers.

BrokerIPTV : No, I understand MetroList was one of the pioneers in IDX, is that right?

Mark Footer: MetroList coined the phrase IDX and IDX exchange.

BrokerIPTV : And what is MetroList provide with an IDX service?

Mark Footer: There is three different players of IDX service available right now, the most basic is a free framed searchable site that is easy to implement as copying and pasting code in to your website and consumers can log on and search the listings are available on IDX and through MetroList. The next level flavor is a, we have a number of vendors that provide third party services actually about 200 and a broker can go out and subscribe to one of their services and provide more extensive of services and that goes all to the way up to the third level services is customized site which is a customized site where a vendor might prepare for you which would have lead capturing, lead generation, contact management. So you can really go from as basic as you like, to as extreme as you like.

BrokerIPTV : And this is what I did with my own personal site and I find it incredibly valuable, not only for me but for my buyers and sellers?

Mark Footer: Buyers and sellers love it, and we are in a market place right now where they want the information, they want to have access to it and honestly, one of the features that were introducing come this summer, is going to be "sold" data and then "under contract" data again feeding to the consumer's desire for more information, more accurate data and being able to accesse the information and make decision with our help.

BrokerIPTV : Types of IDX sites out there, I was thumbing through the web today there is lots of that when I came cross when that I had not been on is called www.FrontDoor.com, that's using an IDX feed and it's apparently put out by the people of HGTV, but I am sure there are many more and some of which you will name?

Mark Footer: Well, larger brokers have them, individual brokers have them, an individual who is a licensed broker and a member of MetroList can create an IDX site for a number of purposes.

BrokerIPTV : Yeah, do you have a gut feeling, not that you would actually know there is, about how many realtors utilize internet technology like IDX sites?

Mark Footer: We have 3800 IDX sites coming through MetroList right now.

BrokerIPTV : Okay, so there is a fair amount, we just had Marcia Waters in here from Dora and she was saying that there as of now 50,000 registered real estate agents, 37,000 of them are active and you are saying about 3800 of those are using IDX sites so.

Mark Footer: Through MetroList?

BrokerIPTV : Yeah, we used to get some room to go in. Great talking with you, I appreciate it.

Mark Footer: Great for talking with you.

BrokerIPTV : Thanks for being here.