Facebook Marketplace is a feature on Facebook that allows users to buy and sell items locally. With over 1 billion monthly active Facebook users, Marketplace provides a huge potential customer base for businesses looking to advertise their products and services.
Many real estate agents and brokers are interested in advertising on Marketplace to promote their listings and gain more exposure. However, Facebook has rules and guidelines regarding what can be posted and promoted on their platform. So can real estate agents use Facebook Marketplace for advertising?
The short answer
Yes, real estate professionals can advertise their services and listings on Facebook Marketplace, but within certain limits. Facebook prohibits real estate professionals from solely using Marketplace as an advertising platform. Listings and promotional content must be incidental to genuine buying/selling activity.
Facebook Marketplace rules for real estate professionals
Facebook has specific regulations regarding buying, selling or promoting real estate services on Marketplace. Here are the key rules realtors need to follow:
- Agents cannot post real estate listings that don’t have a set purchase price.
- Listings cannot require potential buyers to contact the agent via Facebook Messenger, email, phone call or external website.
- Posts cannot promote the agent’s services for buying or selling real estate.
- Agents must abide by all applicable laws regarding real estate advertising.
Essentially, Facebook does not want Marketplace to be used solely as an advertising platform for real estate professionals. Any listings or promotional content must be secondary to normal Marketplace buying and selling activities.
What can real estate agents advertise on Marketplace?
While there are restrictions in place, there are still ways for realtors to use Marketplace for advertising. Here are some best practices for real estate professionals on Marketplace:
- List specific properties for sale and include a set price, photos, details etc.
- Create ads for open houses, being sure to include the property address.
- Post about real estate related products or services, such as selling home staging items.
- Respond to other users’ posts related to buying, selling or renting properties.
- Provide general real estate information and tips, without overt self-promotion.
Benefits of Marketplace advertising for realtors
When used properly, Marketplace can be a valuable advertising resource for real estate agents and brokers. Benefits include:
- Exposure to Facebook’s massive user base.
- Opportunity to connect with motivated buyers and sellers.
- Lead generation from interactions and shares.
- Increased brand visibility and recognition.
- Complements other real estate advertising efforts.
| Pros | Cons |
|---|---|
| Huge reach of active Facebook users | Not solely an advertising platform |
| Connects with relevant buyers/sellers | Restrictions on listings and promotions |
| Good for lead generation | Content easily lost in News Feeds |
| Free to create an account | Unlikely to convert passive viewers |
| Complementary platform | Time investment to manage |
Pros of Marketplace advertising
Some of the key advantages Marketplace offers real estate professionals include:
- Exposure to a huge user base – Over 1 billion monthly active Facebook users provides an enormous audience for real estate listings and services.
- Connects with relevant buyers/sellers – Marketplace attracts people already looking to buy, sell and rent.
- Good for lead generation – Interactions on Marketplace can identify promising leads.
Cons of Marketplace advertising
There are also some potential downsides for realtors on Marketplace:
- Not solely an advertising platform – Can only promote incidentally to buying/selling activity.
- Restrictions on listings/promotions – Specific rules on how agents can post.
- Content easily lost – Listings can quickly get buried in busy News Feeds.
Tips for real estate agents using Facebook Marketplace
Here are some top tips for realtors looking to get the most out of Facebook Marketplace:
- Carefully review Facebook’s rules around real estate promotions. Stay on the right side of their guidelines.
- Post open house events with the property address to attract nearby house hunters.
- Share decor items or staging furnishings for sale to engage potential home buyers.
- Respond promptly, and be helpful to users discussing real estate on Marketplace.
- Post interesting real estate articles and tips without direct promotion.
- Use high-quality photos to make listings stand out.
- Track interactions and leads generated to monitor marketing ROI.
- Complement Marketplace with other social media and advertising.
- Post consistently, but avoid spamming the same content.
- Provide value to the community to build brand image organically.
Risks of Marketplace advertising for realtors
While there are benefits, there are also some potential risks realtors should keep in mind on Marketplace:
- Listings or promotions could get flagged and removed.
- Time investment required to manage platform and content.
- Cluttered News Feeds mean posts can get lost.
- Difficulty tracking meaningful ROI metrics.
- Time wasted conversing with tire kickers unlikely to convert.
- Could damage brand reputation if not managed carefully.
To mitigate these risks, real estate professionals need to closely follow Facebook’s rules, post engaging content, respond effectively to users, and track useful metrics.
Key takeaways
In summary, the key points for realtors considering Facebook Marketplace advertising include:
- Agents can advertise on Marketplace but within strict rules.
- Listings require a set price and cannot direct contact externally.
- Promoting services is prohibited, focus on engaging organically.
- Use for exposure, lead generation and value adding.
- Avoid overt self-promotion and spamming repetitive content.
- Manage carefully to avoid policy violations and damage to brand image.
- Track useful metrics beyond vanity numbers to assess ROI.
- View Marketplace as complementary to other real estate advertising efforts.
Conclusion
Facebook Marketplace provides real estate agents and brokers an opportunity to connect with a massive audience of buyers, sellers and renters. However, Marketplace has specific rules and limitations on self-promotion that professionals must adhere to.
The platform is best used for passive lead generation, brand building and complementing other advertising efforts. Success requires carefully optimizing content, engaging users, tracking metrics, and staying on the right side of Facebook’s guidelines. Used strategically, Marketplace can be a useful addition to a comprehensive real estate marketing strategy.