Facebook Marketplace is a feature within the Facebook social network where individuals and businesses can sell products to others within their local community. It works like a classified ad section where you can browse and search for items to buy, and also list your own items for sale.
People can use their existing Facebook accounts to quickly and easily buy and sell items without needing to download another app. For businesses, Marketplace provides an opportunity to reach a large audience of potential customers and advertise their products for free.
How to sell on Facebook Marketplace?
Selling on FB Marketplace is a simple process that starts with creating an active Facebook account. Once you’re signed in, you can easily list your items for sale by uploading photos and adding descriptions of the items. You can also choose to set a price, select a category, and indicate whether the item is available for shipping or only for local pickup. This is fairly straightforward and similar to other listing sites such as Craigslist or OLX.
If you want to offer shipping, you’ll need to enter your payment and shipping information. This information helps buyers know that they can trust you and ensures that payments are processed safely and securely.
When someone shows interest in your item, they can send you a message to ask questions or negotiate a price. You can also receive notifications when someone likes or comments on your listing.
It’s important to follow Facebook’s policies and standards when selling on Marketplace to ensure a safe and fair trading environment for everyone. This includes only selling items that are allowed on the platform and providing accurate and honest descriptions of your items.
What is SKU on Facebook Marketplace?
If you’re trying to sell something on Facebook Marketplace and you see the term “SKU,” it stands for “stock-keeping unit.” This is a code made up of letters and numbers that helps you keep track of your inventory when you’re selling multiple products across different platforms.
SKU is usually eight characters long and can be customized to reflect different characteristics of the item you’re selling, such as size, color, type, price, manufacturer, and style. While SKU codes aren’t mandatory to sell products on Facebook Marketplace, they can be useful for managing your inventory and avoiding phantom inventory.
How to get paid on FB Marketplace?
When selling on Facebook Marketplace with shipping and checkout, Facebook collects taxes at checkout for purchases made in marketplace facilitator states. However, taxes are not collected for local pickups. To get paid, you must mark your item as shipped and enter a tracking number within 3 days.
Your payout will happen with 15 days of shipping, or 5 days of delivery to the buyer. The selling fee for orders with shipping is 5% or a minimum of $0.40 for each item purchased with shipping and checkout. The fee is based on the total of the item price, shipping cost, and sales tax.
The selling fee is deducted from any payments you receive, and there is no selling fee for items that are picked up locally or where the buyer pays the seller without using shipping and checkout.
How does Facebook Marketplace Shipping work?
Facebook Marketplace allows people to buy and sell items with shipping across the continental United States. Sellers list items for sale on Marketplace and offer shipping, and buyers can browse and find items they want to purchase.
When a buyer places an order for a shipped item, the seller will receive the buyer’s full address and ship the item to them within 3 business days. The buyer’s payment method will be charged for the full order price once the seller marks the item as shipped, and the buyer will receive tracking information for their order.
If there are any issues with the order, the buyer can contact the seller for help or contact Facebook’s support team. Eligible purchases are covered by Purchase Protection, which means that buyers can receive a refund if there is an issue with their order.
If a seller offers both local pickup and shipping on an item, the buyer can choose whichever is more convenient for them. When someone chooses to buy an item with checkout, they can pay and be paid securely on the Marketplace.
It’s important to note that there may be temporary authorization charges on the buyer’s account, which are temporary holds and not actual charges. These should disappear within a few days, but buyers can contact their bank if they have any concerns.
How to create a Marketplace Platform using iScripts Multicart Enterprise?
If you want to create a marketplace website of your own, you can our innovative solution iScripts MultiCart Enterprise. This software allows you to create a complex e-commerce marketplace that incorporates distributors, manufacturers, vendors, resellers, and fulfillment agencies, all working together from a single administrator panel and database.
With iScripts MultiCart Enterprise, you can add suppliers or products of your own into the system, and individual resellers can easily promote these products on a customizable white-label ecommerce storefront created on a separate domain. You can specify commission rates for each reseller or even per product while controlling all website activity, orders, purchases, inventory, and marketing. The software also allows third parties to sell and work independently to sell their own products, your products, and even each other’s products.
iScripts MultiCart Enterprise is fully customizable and open-source, allowing you to make changes to suit your business needs. You can even upgrade it with social and peer-to-peer functionalities of Facebook Marketplace or any other innovative features. If you don’t require the entire suite of features, including site-builder, we also offer a basic version of the software called iScripts MultiCart too.