Facebook and their newest feature, Marketplace Facebook just launched their newest feature, Marketplace. The feature is another online classified marketplace, available to Facebook users 18 and older. It is similar to Craigslist, Oodle, or eBay Classifieds. It allows someone looking to sell a good or service to list it publicly. Like the other online classifieds, you can change your search area to various geographical locations by altering the zip code and the search radius.Facebook Marketplace acts as a way to streamline transactions that were already occurring on site. Facebook Newsroom reports that nearly 450 Million people took advantage of buy/sell groups on the site each year , and these groups will now be replaced by the Marketplace.Much like Craigslist, Facebook will not facilitate payments for anything sold over the marketplace. This means you will have to discuss payment methods with the person you're doing business with, but there won't be any listing fees charged by Facebook.How is Facebook Marketplace different? The most notable difference at this point is a lack of classification on the desktop website. Users can use the search bar to search for a specific result, but, at this time, there is not a classification system at the main page to allow for initial classification. The mobile app currently features a classification system.An innovative difference for Facebook Marketplace is its location within a social media platform. This makes it easier to get in touch with the seller to ask them for additional information/photos about what they are offering.What should I know about using Facebook Marketplace? Similar to eBay, Craigslist, and other classified services, buyers should make sure they're fully informed before making a purchase. Buyers should request as much information and as many photos as possible to help make the decision whether or not to purchase, and should think about meeting in person to examine an items condition before agreeing on a price.Sellers should use an accredited online payment service to ensure that they are protected from fraud when accepting payments electronically, and may want to consider only accepting a certified check if a transaction is taking place in person. Introducing Marketplace: Buy and Sell with Your Local Community, Facebook Newsroom The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.