iNeed: Tips for buying and selling in the Facebook marketplace
Since the inception of Facebook in 2004, it became of the most excellent social media platforms used by all ages. However, it became a medium for communication, and it has now evolved into different forms that help a wide range of people, especially businesses and consumers.
Facebook marketplace is now the best way to purchase and sell products. But there are still a lot of people struggling with the idea of using a social media platform to sell and consume products and services. Here are some tips and tricks for buying and selling in the Facebook marketplace.
- Communicating outside Facebook
It is best to avoid dealing with sellers and buyers who do not use Facebook’s official channels. Taking the example of wire transfers, scammers frequently use them to steal money from unsuspecting victims. Scammers may also use methods other than Facebook to lure victims, such as phone calls or chats that take place outside of the social media platform.
Facebook Purchase Protection policies only cover payments made through PayPal and Facebook checkout. Keep in mind that you will not be eligible for a refund if you make a payment using a different method. The experts’ recommendation is to adhere to previously established guidelines. If you decide to use another app to make a payment, be aware of common bank frauds.
- Delivery of items
The risk of not receiving the item you paid for exists if you purchase something on Facebook Marketplace. This can occur either because the seller has failed to deliver the item you paid for or because the seller has delivered something else. Using the filters on Facebook Marketplace, you can narrow your search to only things that can be picked up in your area.
It’s best to arrange to meet with the seller in a well-lit, open area so that you can inspect the item before making a purchase. Making your purchase using a payment method supported by Facebook, such as PayPal or Facebook Checkout, will ensure that your transaction is safe and secure.
- Counterfeit items
Deals on designer handbags and gaming consoles can be deceiving because they appear too good to be true. Fake or pirated goods are readily available for purchase on Facebook Marketplace, and the prices are frequently significantly lower than they should be. Remember that scams are more likely to be perpetrated when an item’s asking price is considerably lower than the market average.
Other precautions include checking the seller’s profile for negative reviews and avoiding accounts that have been created without any previous reviews. You should also research the typical price for an item before purchasing it. Additionally, you should request multiple photos and even a video of the item before purchasing.
To make matters worse, fraudsters can take advantage of unsuspecting sellers. A common scam involves a buyer paying the seller more than the requested amount for an item using counterfeit money, claiming that they made a mistake and requesting a partial refund. The victim will reimburse the overage amount, but the original payment never reaches the seller’s account.
Keep in mind that overpayments should be rejected, and all payments should be made through Facebook-approved channels to protect yourself from these scams on the Facebook marketplace.
- Fake accounts
Always examine the seller’s profile before buying on Facebook Marketplace. In some cases, scammers create fake Facebook accounts to trick people into buying items they don’t have. The date the Facebook account was created is vital because new accounts are a red flag. So be wary of recent Facebook accounts, as most people have accounts active for at least ten years.
- Advance payment
Don’t buy something you haven’t received—two ways to get scammed: using a reservation scheme or paying in advance.
To reserve your spot, a con artist may convince you that the item is in high demand. So the scammer gets your money, and you don’t get the item you ordered. It’s best to exchange money and objects in a well-lit public area. Facebook advises bringing a friend or family member when meeting an online seller in person.
- Non-working items
One of the most common Facebook Marketplace scams is selling a broken item. This can happen when buying computers or other technological devices. Always test and turn on new electronics before paying for them. Also, resist the urge to make a deal. Avoid being rushed into a decision by the seller or buyer.
- Fake rentals
Not all of the listings for apartments and houses on Facebook Marketplace are genuine. Some of the apartment rental scams you’ll come across include:
- Listings with fake or misleading images
- Bait-and-switch rental prices
- Charging illegal fees for background checks.
It’s best to allow yourself time to inspect the property in person and verify its availability before submitting an application or transferring funds.
- Phoney giveaways
The same goes for giveaways that seem too good to be true. Anyone can post anything to a Facebook page without being verified. Infecting computers with malicious software gives hackers access to personal data like email and bank account passwords. Do not click on suspicious-looking links or report phoney Facebook accounts if you suspect your computer has been hacked.
- Irregular pricing
Avoid sellers who change their prices after you message them. Bait-and-switch scams, where con artists entice customers with low prices before upselling them, are common. According to Facebook Marketplace’s guidelines, sellers should not ask for additional payments for shipping or other unlisted charges after the sale.
- Car deposits
Vehicles are in high demand on Facebook Marketplace, but buyers should proceed with caution. Scammers often give buyers a fake address after receiving a small deposit. Rather than relying solely on an online seller’s promises, do your research by visiting other reputable websites. Facebook’s Help Center suggests a vehicle history report and a pre-purchase inspection.
Why choose Facebook Marketplace?
You may be wondering what makes Facebook Marketplace unique among online marketplaces. Craigslist, LetGo, and dozens of other services exist that allow you to buy or sell anything from your couch. However, Facebook Marketplace is one of the safest and most accessible places to sell.
- Security – Previously, only service-provided evaluation systems could identify dishonest sellers online. A criminal background check is an option, but it seems excessive for a used coffee table. With Facebook Marketplace, you get a much more complete picture of a person, starting with a literal photo, then any familiar friends, basic information about their background, age, and life.
- Messaging – To contact other users in the marketplace, provide details such as your cellphone number or email. Those aren’t desirable alternatives in today’s time. On the other hand, the Facebook Marketplace operates through the social media platform. When you communicate with friends through an app or the internet, there is no need to take any additional steps or take any safety precautions.
- Convenience – Compared to native apps such as OfferUp and LetGo, using Marketplace by sliding two buttons to the right from your Facebook News Feed is far more convenient.
Tips for selling
What’s great about Facebook Marketplace is that everyone can sell any product. So if you happen to be a consumer who wants to start selling, then check out some of the tips you should keep in mind.
Whether used designer shoes, new furniture, or automobile parts, the details are essential no matter what you’re selling. Include the specifics of the model in your description. And ensure to make it simple for potential customers to place their trust in you, and they’ll be more likely to make a purchase.
What’s great about the Facebook Marketplace is that it enables you to quickly post the item you want. However, it’s best to choose the right category your item falls into before doing so. Consumers use types to navigate the thing they want to sell quickly. You can easily search which wide range of categories your product belongs to.
Pricing has always been considered as of the most vital aspects of selling. It makes or breaks the item you want to sell. Keep in mind to break down the cost of production and the interest you should put. Sometimes, overpricing can happen, leading you to fewer customers. It’s also a good idea to offer discounts, offers and vouchers customers can use,
Facebook Marketplace was created to provide convenience to consumers who want a seamless shopping experience. But a vital aspect you should consider is the delivery or shipping method. If you happen to live far from the buyer, it’s best to offer courier options to the client. Most consumers also prefer meetups, so you should keep in mind to set a meetup schedule close to the buyer’s home.
- Ask for reviews
After selling a product, never be afraid to ask the buyer for reviews that they can post on social media. This way, you can expand your reach, and future consumers will read other reviews and be compelled to buy your product.