Useful for real estate investing?

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Move, Neighbor. A new application has appeared in the city. Facebook (NASDAQ: FB) is gearing up to capture a fraction of the hyperlocal scene with a new feature called Neighborhoods. Like Nextdoor, Neighborhoods will provide a platform for neighbors to communicate, exchange community news and events, and receive recommendations from anyone. home repairs evaluating the best birdwatching spots in the park.

Unsurprisingly, Facebook is invading Nextdoor territory. It has long been social media MO from the giant to bring its own ideas to life on established platforms, such as when it debuted on Facebook Stories as an alternative Snapchat (NYSE: SNAP) and Instagram Stories, the latest of which is also owned by Facebook.

Neighborhoods are currently only available in parts of Canada, and Facebook is playing a strategic role in its US rollout. CNET reports that from the outset, districts will only be in four communities: Charlotte, North Carolina; Baton Rouge, Louisiana; San Diego; and Newark, New Jersey.

Why is it profitable for investors to acquire a local sensation

While both Nextdoor and Neighborhoods are primarily intended for locals to communicate with each other, real estate investors would also benefit from logging in.

Nextdoor reports that one in four conversations on its platform are about homes and real estate. That’s why he launched the Your Home feature, which allows residents to estimate the value of their homes, view recently sold local listings, and connect with locals. realtors for questions and information about local property market… It’s possible Facebook will do something similar with Neighborhoods.

Both digital platforms allow people to keep abreast of what’s happening in their community. Users have to share their home addresses or otherwise verify them, so you can’t use it to explore areas too far from your home base for investment purposes.

However, it may be beneficial for investors to pay attention to the communities in which they own real estate. For example, do people complain about bags being stolen from their front porch? It’s time to install security camera wherein property lease… An upcoming property sale may mean that a home sale is also imminent. Someone asks a question about the local real estate market? This is your chance to dive into some expert knowledge. (Pro tip: Savvy real estate agents will especially do well to avoid a hard sell and instead position themselves as something of a neighborhood expert.)

On the other hand, investors can get a little more than they expected by joining any platform. The main problem people face with Nextdoor is that seemingly harmless conversations can turn into an ugly joke. What was supposed to be a good place to walk a dog or a family member was clouded by heated political rant and other ill-intentioned rhetoric.

A team of “community reviewers” of Nextdoor members are expected to follow the discussions and remove them where necessary, but the experience has left a bad taste for many (including yours). In anticipation of this, Facebook will have its own team of moderators to keep the conversation “up-to-date and kind,” but only time will tell.

The essence

Keeping up with yet another social network can be quite exhausting. But the good news is that the Neighborhoods app is part of the existing Facebook platform, so users won’t need to open a new account when it becomes available.

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