Sell Your House On Facebook

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You probably recognize Facebook as a handy, modern tool for keeping up with your family and friends. But did you know that it can also be a powerful tool for buying or selling a house?

 

While the tried-and-true method of listing your house with a real estate agent is still around, many people are taking advantage of online options like Facebook Marketplace, which maximizes the power of their social network.

 

Facebook, which was launched in Feb 2004, currently has about 600 million active users. These users are connected to their networks of friends as well as networks of people with common interests or histories like school, hobbies, and organizations.

 

The Facebook Marketplace app, which was introduced in 2007, allows users to post free classified ads for housing, jobs, items for sale, etc.. In 2009, online classified ad service Oodle took over Facebook Marketplace. The service is currently free, though it does have certain limits to prevent people from running a business. For example, you can't sell more than two cars at a time.

 

In using Facebook Marketplace, a user fills out a listing that is similar to a status update. Once filled out, a sales listing shows up in their network feeds as "Stephanie is selling her condo in Washington D.C.."

 

The obvious advantage here is that a user gets instant exposure across all of their friend's networks. Also, it piggybacks on the social media sales idea that oftentimes the item being sold is as important as the person selling it. If the person selling the property is a friend of a friend, there is more accountability and the buyer is likely to go into the transaction feeling better about the deal. Also, the seller is less likely to misrepresent or hide any negative features of the property. All in all, there is a level of accountability that doesn't exist in other, more traditional real estate transactions.

 

Another advantage of using Facebook to sell your house I that it might just organically peak interest in your home from a friend who has been over to your house before and can spread the word to others that he or she knows are also looking for a house.

 

So, what's next? Selling houses on Twitter? It sounds ridiculous now, but you never know!

 

 



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Personal Finance , Real Estate

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