AgentTechnology

How Nextdoor’s new real estate agent ads work

The ad product was a natural monetization strategy for Nextdoor

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Nextdoor, a private social network covering more than 150,000 neighborhoods in the U.S., has announced a real estate section and new ad product for real estate agents. The company is officially launching the offering, which Nextdoor has been testing for some time, in 10 markets to start: the greater Atlanta area, Austin, San Francisco Bay Area, Dallas-Fort Worth, Houston, Los Angeles, Phoenix, Portland, Sacramento, and San Diego. It's a natural fit for the social network, where innumerable conversations about real estate take place and users often recommend their past agents to neighbors, said Nextdoor CEO Nirav Tolia on stage at Connect. Users can click over to a real estate section to view listings in their neighborhood. Listing details pages show price, property descriptions, photos and nearby listings. The real estate section sources listings directly from brokers at the moment, rather than through syndicators. (Nextdoor didn't immediately respond when asked wha...