AgentTechnology

Nextdoor contemplates foray into paid advertising

The hyperlocal social network is researching revenue possibilities, which makes some agents nervous
  • Now five years old, Nextdoor is looking for ways to monetize, which may include advertising opportunities for real estate agents.
  • Nextdoor has a presence in nearly 70 percent of all the neighborhoods in the country, approximately 100,000 total.
  • Agents and all business are discouraged from promoting themselves on Nextdoor currently, but you can make connections and establish yourself as a market expert.

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“You don’t want to ruin it with ads because ads aren’t cool,” a member of Facebook’s early inner circle argues in The Social Network. This line, as a cinematic portrayal of the dilemma facing “Thefacebook” founders before it blew up, represents the crux of so many internet startups: knowing when and how to turn vanity metrics like registered users into revenue (without scaring off dedicated followers). Twitter, launched in 2006, didn’t announce paid advertising through “promoted tweets” until 2010. The ad hold-off lasted about a month for Facebook, but its 1.71 billion users have watched the social media giant’s promotion offerings mature and gain targeting sophistication. Real estate agents contend with a similar struggle on an individual scale, careful not to let consumers smell the sales vibes too soon. Now, venture-capital backed Nextdoor is on the edge of that revenue tipping point. The “free and private social network for neighborhoods” h...