Let me say that I have never used Facebook Marketplace. Over the years I have bought and sold on Craigslist without any problem. So, I am reviewing Facebook Marketplace and comparing it to Craigslist with an open mind.
Facebook or Craiglist? That is the question. Both have name recognition and many users. Both are fairly easy to use. But is one better than the other? Just keep reading our Facebook Marketplace review to find out.
Not every senior is technologically equipped so using either one may be a hassle. The good thing about these marketplaces is that they are fairly easy to learn how to use. But are they right for your senior years? Keep reading to find out.
What is Facebook Marketplace?
As the name says, it is a place where you can find stuff to buy or a place where you can sell your products. The only difference between Facebook Marketplace and other online market places is that it is located right on a social media outlet.
The advantage of this location is that you are 95% sure the seller is for real and the items are not faked. All it takes to access this marketplace is a Facebook account. Once you get that set up you have complete freedom to enter the marketplace and conduct your business.
How Does Facebook Marketplace Work?
The first step in the process is to set up an account,. Once that is done and all your information is verified, you can start posting items for sale. When it comes to posting items, you can either use your lap top or you can use your cell phone. the app makes it very simple.
Then after you have your items listed, you do not have to give out your phone number or address. You get an instant message through your Facebook account. No one can come to your home until you are ready for them to come.
Once you agree to meet, it is easy to make the transaction in person. It is one of the easier methods to run a business.
Can You Make Money With Facebook Marketplace?
Yes, you can and this seems to be the clearest and simplest format in order to make money. According to our research, there is a 5% selling fee on items listed at over $8 and a 40 cent charge on all items listed under $8.
That means you are not going to be charged more fees when your site gets an under performing rating. There are also no subscription fees or monthly payments to make. So if you get a lot of sales, then you will make more money than other market places.
One user said that he got sales 80% of the time while on Craigslist he only got sales 25% of the time. This means you have a very good chance of making money on this website.
Examples Of How To Make Money With Facebook Marketplace
The way seniors and boomers, as well as anyone, make money on Facebook Marketplace is to have the right products for sale. There are supposed to be over 2 billion users which give you a good chance that someone will want what you are selling.
Those products can be your own crafts, collections, cars, records, and so on. Also, you can make money by renting an apartment to someone who needs one or renting out your vacation home, RV, or other items.
You may have heard it too often, but the sky is the limit when you sell on this social media outlet
Facebook Marketplace Review Pros:
easy to use
sign up is free
sell just about anything you want
safe to use as initial communication goes through instant messenger
lots of users who are potential customers
set your own prices
stop when you want
listing is free
easy to discuss with buyers
Facebook Marketplace Review Cons:
lots of competition
buyers are not vetted
safety issues due to face to face meetings
be prepared to negotiate
lots of potential for fraudulent buyers
no purchase protection
time consuming as you need to talk to potential buyers
Any Negatives? Beware of Lawsuits
In 2018 there have been a few lawsuits filed against Facebook as an entity not just for the marketplace specifically. Most were defamation lawsuits but Facebook does not seem to care nor have righted any wrongs committed.
One of the biggest concerns will be fraud and fake buyers. This is going to be a concern for any senior who does not have a lot of money to spare if they get conned out of their products. It will happen as well fake complaints that can ruin your reputation.
Also, the FTC has filed a lawsuit in conjunction with 46 other states for unfair trade practices. It will be years before that is resolved.
Is Facebook Marketplace Legitimate?
This goes without question. There are so many users worldwide that it cannot be anything but legitimate. The marketplace is a good area to go to when you want to make money instead of spending it on a lot of fees.
Nothing is without risk though and those risks do not undermine any legitimacy of the company. It should make you more self-protective as you are more vulnerable on this website than any other one we have reviewed thus far.
You will have to take personal steps to protect your sales from fraudulent buyers. This is not always easy to do. However, you may not have your account canceled as it can be at other marketplaces. but your reputation may take a hit.
It is hard to say how many of the negative reviews are legitimate but even if they all are not, your site will suffer somewhat because of them.
Final Thoughts: Facebook Marketplace Review
Facebook Marketplace must be the easiest business options for seniors to use. It certainly is the cheapest one and will fit many seniors’ budgets. You do not have to be rich to use it.
However, there are risks here that you do not face on other online marketplaces. You should assess everything before you make your final decision. While this Facebook Marketplace review is good, it is tentatively better than Craigslist to use. Both options have their positive and negative aspects and both options will help you make money.