What Happened When I Made 6 Offers on Facebook Marketplace
Everyone is buzzing about the new Facebook Marketplace. It’s an obscure feature in the newest Facebook update but it’s definitely causing a stir in the real estate world.
If you don’t know what I’m talking about, make sure you’ve updated your Facebook mobile app. The icon is located on the bottom of the app and literally looks like a little storefront.
What does it do? Well, Marketplace is basically a Craigslist-style platform that is built directly into the Facebook app. When I started exploring it, I was pretty impressed. It’s a lot easier to navigate than Craigslist. It has categories that you can comb through and a search feature with filters. It’s very visual and when you click on an item, the details are clearly listed.
But what really got my wheels spinning was the Housing category. Very similar to Zillow or Redfin, it includes photos, description and location of the property. The surprising part? There’s a big button at the bottom that says “Make Offer.”
Could I actually buy a house using Facebook? Would Realtors actually respond? How legit was this? Obviously, I had to make some offers! I wanted to see what would happen.
- There aren’t a lot of properties listed
- I didn’t get a response when I was engaging late at night
- However, I did get a lot of communication the next morning
Marketplace is simply, another platform to for listings and rentals. I don’t know that you’re going to get crazy leads but it’s definitely exposure. My big takeaway is that it’s an opportunity to be an early adopter, especially because it’s not getting a lot of use. Although, I predict that it won’t be long before it’s overrun with listings. Think about it from a purchaser standpoint. Would you make an offer on a house that was listed on Facebook? Would it pique your interest? Now think about it from a Realtor standpoint. What do you have to lose? You may get nothing or you may get something.
It’s all about adapting to change, trying out new technology and being an early adopter.
How to Execute
Make sure you have the Facebook Messenger app. It will allow you to respond quickly to inquiries. It’s just like text messaging but the messages are contained completely within the application. It’s quick and it’s easy. When you post a listing, you have to be ready to respond right away.
Disclaimer: As an early adopter, you might get some bogus inquiries and offers. This is a new feature and people are wanting to see how it works. I made six bogus offers because I wanted to do my research on it. Don’t get discouraged or mad. Know that you’re an early adopter and you’re being innovative. Go with the flow and be understanding. People who reach out to you may not want to make an offer but they may be interested in buying a house sometime down the line. Like I always say, opportunity is everywhere.
Also, don’t try it once and give up. Use it consistently for a month before you throw in the towel. Nothing is worse than someone who writes off a good idea because it didn’t give them instant gratification.
If you decide to try out Marketplace, don’t forget to mention it in your listing presentation. It’s another item in your toolbox that you can use to help seal the deal. You can show your clients that you are on the cutting edge of marketing and you go out of your way to hit every marketing avenue.
Marketplace has great potential. Be the trendsetter. Don’t wait until another Realtors makes their name on this platform. If it doesn’t work, who cares!? You now know the return on investment and you can go back to using the tools and resources that have more value.
If you’ve listed properties using Marketplace, I would love to hear your experience. Leave me a comment and let me know your thoughts!