Introduction
Facebook Marketplace is a popular platform for buying and selling items in the local community. It offers a convenient way for users to find everything from second-hand furniture to new clothes and electronics. However, like any other platform, it does contain fees that buyers and sellers need to be aware of. In this article, we will go over everything you need to know about Facebook Marketplace fees.
What is Facebook Marketplace?
Facebook Marketplace is a platform where users can buy and sell items with people in their local community. It was launched in 2016 and quickly became popular due to its convenience and large user base. Anyone with a Facebook account can use Marketplace, and it is completely free to use.
Does Facebook Marketplace Charge Fees?
Yes, Facebook Marketplace does contain fees, but they are generally lower than other online marketplaces. Buyers do not need to pay any fees, but sellers may be charged a fee for their transactions. Let’s go over the details.
Seller Fees
Facebook charges a fee of 5% on the total transaction value of sales made through Marketplace. This fee is charged to the seller, and it is automatically deducted from the payout they receive. This fee is lower than many other online marketplaces, which can charge up to 15% or more in fees.
When are Fees Applied?
Facebook Marketplace fees are only applied to transactions where the seller chooses to use Facebook’s checkout system. If a buyer and seller complete a transaction outside of Facebook Marketplace, no fees will be charged.
What is Facebook Checkout?
Facebook Checkout is a feature that allows sellers to accept payments on Facebook Marketplace. It is an optional feature, and sellers can use their own payment methods if they prefer. However, if a seller uses Facebook Checkout, they will be charged a fee of 5% on the transaction value.
What Payment Methods Does Facebook Checkout Accept?
Facebook Checkout accepts credit and debit cards, as well as PayPal.
How Are Fees Calculated?
Fees are calculated as a percentage of the total transaction value, including any shipping or tax charges. For example, if a seller sells an item for $100 and charges $10 for shipping, the total transaction value would be $110. The seller would be charged a fee of 5% on the total transaction value, which would be $5.50.
How Are Fees Paid?
Facebook Marketplace fees are automatically deducted from the payout the seller receives from the transaction. For example, if a seller sells an item for $100 and is charged a fee of $5, they would receive a payout of $95.
Can Sellers Cancel Transactions?
Yes, sellers can cancel transactions on Facebook Marketplace. However, they will still be charged a fee if they cancel after a buyer has paid for the item. If the seller cancels before the buyer pays, no fees will be charged.
How to Avoid Fees?
If a seller prefers to avoid Facebook Marketplace fees, they can choose to complete transactions outside of the platform. However, this is not recommended, as it can increase the risk of fraud or scams.
What Items Can Be Sold on Facebook Marketplace?
Facebook’s policies dictate that items sold on Marketplace must be legal, not adult-oriented, and comply with community standards. Prohibited items include drugs, weapons, and counterfeit goods. Sellers can view Facebook’s full list of policies before listing an item for sale.
FAQs
1. Are buyers charged fees on Facebook Marketplace?
No, buyers are not charged fees on Facebook Marketplace.
2. Is it mandatory for sellers to use Facebook Checkout?
No, sellers can choose their own payment method if they prefer not to use Facebook Checkout.
3. How can I cancel a transaction on Facebook Marketplace?
Sellers can cancel transactions on Facebook Marketplace by going to the “transactions” tab in their account settings and selecting “cancel transaction”.
4. Can I sell services on Facebook Marketplace?
No, Facebook Marketplace is only for the sale of physical items, not services.
5. Can I sell animals on Facebook Marketplace?
Facebook’s policies do not allow the sale of live animals on Marketplace.
Conclusion
Facebook Marketplace is a useful platform for buying and selling items within the local community. However, sellers need to be aware of the fees charged on transactions completed using Facebook Checkout. By knowing the fees and policies, sellers can avoid any surprises and ensure smooth and successful transactions.
