WESTLAKE VILLAGE, CA May 18, 2001 – Homestore.com, Inc., operator of REALTOR.com®, the official Web site of the National Association of REALTORS® (NAR), today announced product development for Internet Data Exchange (IDX), also referred to as "broker reciprocity." This initiative will give REALTORS® new options for tapping into REALTOR.com’s® vast listing content and search and map tools for use on their own Web site. REALTOR.com® is one of the most popular real estate sites in the nation, boasting 1.5 million home listings and over 4 million monthly unique users.
In response to NAR's requirements and customer feedback, Homestore.com, Inc., operator of REALTOR.com®, plans integrate IDX functionality into its product solutions for brokers and multiple listing services (MLS). Homestore.com also plans to introduce a free framing solution for REALTORS® through a licensing arrangement. This solution will be available as soon as Homestore.com completes the update of its policies on linking and framing, which is currently underway.
The Gateway product benefits all MLSs and brokers who are looking for an affordable, convenient way to display reciprocal listings on their Web sites. Homestore.com will fulfill all NAR IDX requirements for data display and broker participation (for example, brokers may opt-out of the program consistent with IDX guidelines). REALTOR.com® will support IDX through its hosted product offerings, however, not through data transfer or downloads.
Support for additional local requirements will be addressed on a case-by-case basis. The new product development is focused on protecting the integrity of REALTOR® data as well as on providing maximum service and utility to REALTORS®.
"Broker reciprocity and Internet Data Exchange have been top of mind for quite some time. We have spent a great deal of time discussing the issues with real estate professionals in the field and getting a sense of their concerns and expectations and I believe we have crafted a strategy that will be a win-win for everyone," said Steve Ozonian, president, REALTOR.com®. "We are committed to providing an excellent solution to MLSs and brokers that addresses the NAR’s IDX requirements and increases the value of REALTOR.com for the professionals who use it."
A comprehensive communications plan with specific details on linking and framing opportunities and guidelines, information on IDX product solutions for brokers and MLSs, and product release schedule, is expected to be issued in the near future. Upon release of the communications plan REALTORS®, brokers and others will be able to contact Homestore.com Inc.’s customer care service center or go online through www.REALTOR.com to register and obtain an appropriate license.