Looking for insight on how MLS, IDX, etc. actually works in the US

[jdf]

Greetings all. First post here. :)

I'm part of a web development group that creates next-generation web applications. We are based in the UK and have nearly completed a cutting edge real estate web application.

I'm not trying to advertise or push our software here, but rather trying to get a better understanding of how things work here in the states regarding the MLS system, IDX, etc. None of which exists in the UK.

The power of our software lies in the way it allows estate agents to put up listings and how potential buyers can search and filter that data. *Very* detailed information about each property can be submitted by the estate agency and searched/filtered by potential buyers.

After all, it would seem that a consumer can browse online to purchase something like a dvd player and access every technical specification for any unit they come across. Shouldn't that be the case when it comes to buying a property worth 10,000 times as much?

Unfortunately, it seems the current MLS and portal systems in use only allow very basic information to be submitted by the realtor and searched by the potential buyers.

Now obviously, an estate agency's own website would benefit from the power of our application - allowing very detailed searchable data, but our current concern is that with the US MLS system being in widespread use, would all of this exta detailed property data simply be filtered out when run through a MLS or portal? And how does it get to the MLS? From what I can tell it's like everyone updates their local site with everyone elses data?

What data does a typical MLS use? Is there a capacity for custom fields of some sort?

To those of you who are realtors. Do you simply upload your listings to a portal? And do you also run your own site software as well - and if so, is the property data listed on your own site much more detailed than that on the MLS/portals?

So I suppose I could really use some insight on how all of this fits together in the states. That is, the relationship between realtors, service providers, MLS, portals, etc. and what exactly happens to the property data when it's shared in such a manner.

Thank you kindly for your time and any insight you may be able to offer. :)

jdf

[HHI Golf Guy]

There are no data standards for MLS/IDX. Each MLS is independantly owned and operated, and rules on access to MLS data will vary for MLS entity to MLS entity. For example, some may allow you to pay to use their data feed, while others will not allow any access to their data.

Since agents do not "own" their own listings - their broker in charge owns the listings - each broker needs to be in agreement that a 3rd party can have access to the data.

As far as the limited information found within the MLS listings, some of that may be due to limited field entry with some MLS systems. But the primary reason is that 99.9999% of all agents are conditioned to enter very little descriptive data.

It is their belief that if they leave little breadcrumbs of information that a potential buyer is more likely to call and ask about a listing. Their goal is to get someone to call them about the listing. Instead, what happens is that the agent gets an email inquiry, and in most cases no amount of follow up by the agent (email or phone calls) gets the agent any closer to a sale.

In today's Information Era consumers are conditioned to see detailed information on anything they want to purchase, be it a car or a DVD player. That leads to a lot of frustration when they try and shop for a home on the internet.

I encourage my agents not only to provide dozens of pictures and a detailed description of each of their listings, but also to provide their personal insights (without violating Fair Housing, etc.) on each property and neighborhood.

This way, when the correct buyer demographic reads that listing info, their thought process is, "I want that home!". Instead of an email from the prospect, it is more likely to produce a telephone call to the agent. With a decent agent, this leads to more sales.

Of course, the reason why this works for my clients is that they include both the MLS and a custom featured listings section on their web site.

Leaving breadcrumbs for a buyer to follow is old school. This is the information age. Give them information to spur that "BUY" impulse, not the lukewarm "oh, that might be interesting" response.