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Can’t find an affordable home? Facebook may be able to help

Aly J. YaleThe Mortgage Reports Contributor

Move over, Zillow

Looking for an affordable home? You may want to turn to Facebook. According to the social media platform, the Facebook Marketplace is expanding into real estate listings with full force.

Verify your new rate (Aug 21st, 2018)

Buying and renting via Facebook

Facebook is coming at the real estate market from all angles. The site is gradually rolling out features that would allow U.S.-based homeowners to list their properties on its Marketplace platform.

And thanks to partnerships with rental sites Apartment List and Zumper, the Marketplace will also soon include thousands of rental homes and apartment units from across the country.

“New school” house hunting: Buy a house online

Users will be able to filter properties by location, price, square footage, pet-friendliness, number of bedrooms and other variables. They will even be able to fill out an on-site contact form and connect with the listing’s agent or property manager.

As of now, listing properties on Facebook’s Marketplace is free, though there may be charges associated with Apartment List, Zumper or other partners the site utilizes down the line.

Endless affordable home possibilities

Though Facebook’s Marketplace platform already allowed home listings from real estate agents, these new features are likely to expand on-site property listings significantly as they begin rolling out.

Broaden your horizons to find better home values

According to Facebook Product Manager Bowen Pan, the Marketplace has already seen big success with car sales.

“Marketplace is a popular place for people to look for a home to rent,” Pan said. “First with vehicles and now with housing rentals, we’re partnering with businesses to bring more ease and convenience for consumers.”

And the selection is likely to get even better soon. That’s because, according to Facebook, partnerships with more agents, brokerages and property managers are already in the works.

Get today’s mortgage rates

No matter where you find your home, it’s a good time to buy. Shop around and see what rates you qualify for.

Verify your new rate (Aug 21st, 2018)