Much like a bulletin board at the local gym or grocery store, people look to Nextdoor, the private social network for neighbors, to find a last-minute babysitter, learn about a recent slew of car break-ins, or where the weekend garage sales are going to be in their area, the difference is that Nextdoor is more instant, up-to-date and user engaging than the traditional cork board.
Now Nextdoor has introduced a new feature on its site, as well as an app, which will be featuring property listings in users' areas and other nearby neighborhoods. Some industry observers are keeping an eye on the social network, as they perceive it as a potential competitor for Realtor.com, Redfin, Trulia and Zillow, as well as other real estate listing sites.
The feature is currently only available in the San Francisco Bay Area, San Diego, Portland, Phoenix, greater Atlanta, and Dallas/Fort Worth areas, but the company has said it should be rolling it out to more markets in the coming months, and welcomes inquiries from real estate agents or brokers who are looking to participate in the project.
New listings can be seen in the Nextdoor newsfeed on a regular basis and in Daily Digest emails. Users are able to click on the listing of their choice to read the property's details.
Some ads are paid products real estate agents are able to participate in, and have a module to the right showcasing the listing individual, making it convenient for anyone to contact the agent for further information about them.
According to Nextdoor, the site is initiating the Neighborhood Sponsorship to give real estate agents the opportunity to promote their market expertise in the neighborhoods they are best acquainted with.
By participating in Neighborhood Sponsorship, you will be promoted in the Newsfeed, Daily Digest emails, and Real Estate section for the neighborhoods you choose to sponsor. Sponsoring agents will also have the opportunity to answer real estate-related questions from Nextdoor members, highlighting your local knowledge.
Various information about a brokerage is required for participation, including the number of agents, the brokerage’s annual listing volume and markets, etc.
So far it appears that the current real estate listings on Nextdoor are being sourced from realtor.com, but the company seems to be looking for additional avenues to list data from, since it is also asking what type of XML feeds the brokerages are able to provide Nextdoor, with available selections being: Redfin, Trulia, Zillow, and Other.