Broker Reciprocity

What is Broker Reciprocity (Internet Data Exchange - IDX)?

Simply: It is a system where brokers give each other permission to display their listings on each other’s web sites. Brokers who participate in the program (referred to as "Broker Reciprocity Subscribers" or "BRSs") can display all of each other's active listings. Brokers can include their listings in the Broker Reciprocity database without having their own web site. Chicago Home Estates is a proud participant in MLSNI's Broker Reciprocity program.

Why is Multiple Listing Service of Northern Illinois, Inc. (MLSNI) offering Broker Reciprocity?

The purpose of Broker Reciprocity is to empower Realtors® to deal with the real estate consumer of the future. Among the objectives to which MLSNI is committed are:

1) permitting brokers to fully market their services on the Internet;

2) permitting the brokerage community to take advantage of data contributed to the system by brokers; and

3) permitting brokers to establish and maintain first contact with the consumer in the real estate transaction.

Increasingly, consumers are looking to the Internet for information about real estate for sale. Until Broker Reciprocity, consumers were not finding that information at broker-owned web sites. The sites with the best data (from the consumer's perspective) contained the most data and were not controlled by Realtors®. Some brokers asked MLSNI, "Why can't a broker web site be the place with the most listings?" Thanks to Broker Reciprocity, it can! This approach provides several advantages:

• Brokerage web sites can become the best source of listing data. If most brokers participate, the number of listings in the reciprocal database can easily reach and even exceed the number on other popular sites.
  
  
• When consumers visit the web sites of reciprocal brokers, they will stay longer because the brokers have more listing data to offer. The broker sites may also offer easier interfaces for consumers, since many other sites are "cluttered" with non-listing content.

If you have other questions about Broker Reciprocity, email us your Broker Reciprocity question.