More on Nextdoor & Real Estate

Nextdoor recently launched an ad product targeted at agents. A couple weeks ago, they took the next step and added real estate sections to neighborhoods in select cities (greater Atlanta area, Austin, San Francisco Bay Area, Dallas-Ft. Worth, Houston, Los Angeles, Phoenix, Portland, Sacramento, and San Diego).

Much of the current product seems to be about helping agents showcase their listings. It’s no secret real estate listings are a valuable piece to engaging content to home owners — but I certainly don’t think Nextdoor wants to be, or should be, in the business of importing XML feeds from MLS’ and brokerages. There are of course several providers in this industry who they can license that data from — or they could partner with Zillow or Realtor.com.

I spoke with Nextdoor’s CEO Nirav during the Inman Connect conference, and he mentioned the core product would be focused around interacting with real estate professionals. That makes me think Zillow Advice or Trulia Voices, which is no easy competition. However, Nextdoor has leverage in terms of a huge base of users already engaging with the product regularly. Thus, they don’t really “need” the industry the way many real estate startups do.

From my article on commissions a few years ago, I mentioned:

An unlikely player that could emerge? NextDoor, since they are driving toward a daily use case for home owners — regardless of whether they are buying or selling. Zillow or Trulia could do it as well, but of course connecting buyers and sellers directly would cannibalize their entire business of connecting consumers with real estate professionals.

I don’t believe Nextdoor is going to head down the path to connecting home sellers with home buyers directly (certainly not anytime soon), never say never. That said, I’d be curious to know how much traffic Nextdoor actually has. One person on this thread says over 700,000 daily actives (which is higher than I expected). This article mentions “double digit millions” of users. If anyone has further details, please do share.

I still believe Zillow and Nextdoor are a match made in heaven, and that we’ll see a very strategic partnership between the two at some point.

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