Nextdoor, the social media platform for neighborhoods, is rolling out a real estate listings feature, showcasing housing for sale in local communities.
The idea is to formalize behavior that’s been happening organically, suggests CEO Nirav Tolia. “These real estate conversations are already happening,” he said, so NextDoor wanted to devote a section to it.
The feature isn’t just for those looking to buy homes. It also aims to help users assess the changing real estate prices in their respective communities. “People spend the majority of their net worth on their homes, and they want to know how those home values are doing over time.”
It will also bring in revenue for the billion-dollar company, with real estate agents sponsoring the section. Tolia called it Nextdoor’s second major monetization effort, saying that this will help it add new streams beyond in-feed advertising.
People use Nextdoor as a forum for everything from local events to crime. Users need to…