Facebook launches Marketplace, competition for Craigslist

New buying and selling feature being rolled out
Posted at 4:59 PM, Oct 03, 2016
and last updated 2016-10-03 16:59:40-04

Craigslist, Next Door, Let It Go... there are already lots of places you can sell your stuff online. Now those other sites are about to get some big competition.

The social media powerhouse, Facebook, is entering the scene with "Marketplace."

The advantage for Facebook is its massive user base; the California-based company also estimates that 450 million people visit "buy and sell groups" on their site. If it becomes popular, the new Marketplace feature could replace those groups altogether.

Selling something on the Facebook Marketplace is a pretty simple process:

  1. Just take some pictures of what you want to sell.
  2. Name it and describe it.
  3. Set a price.
  4. Confirm your location.
  5. And post!

Once posted, anyone in your area can find your item on the Marketplace, not just your Facebook friends, seriously expanding the reach of your post.

If someone is interested in your item, they can make an offer, even offering a different amount. Users will even be able to negotiate through Facebook's Messenger app, and can even send money though Facebook Messenger as well. Facebook says users can also use other sites to exchange money, like PayPal, Venmo, and of course, cash.

What's nice about this new tool, unlike some other sites, is you can see the profile of the person you're messaging and buying and selling with. That should make users more confident that the person on the other end is really who they say they are, creating a safer online selling experience.

The new tool is also very visual, so it's easy to see what others are selling and maybe find a good deal.

You'll be able to find a link to Marketplace at the bottom of your Facebook mobile app.

Facebook is still rolling the update out to all their users, the company says in a blog post, so not everyone has it quite yet.

And the Marketplace will only be appearing for users 18 and older.

You can learn more by clicking HERE.