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Facebook now wants to help find your apartment

Written by CRETECH | Nov 10, 2017 5:00:00 PM

Looking to lease an apartment? Soon you will be able to scroll through options on your Facebook feed. Facebook FB,-0.41% announced Thursday it would expand Marketplace, its platform for selling products on the site, to include apartment and home rental listings. The new service was announced in partnership with Apartment List and Zumper and will include “hundreds of thousands” of apartments and homes for rent. “Every listing we are feeding into Marketplace has been 100% verified by our team,” said Chris Erickson, Apartment List chief operating officer. “So consumers aren’t going to have to deal with scams, which is one of the biggest problems that plagues Craigslist.” (Craigslist did not respond to request for comment). Tools offered on the platform include 360-degree photos of each listing and custom filters for location, price, number of bedrooms, rental type, square footage, and whether it is dog or cat friendly. The move into housing is the latest from Facebook to compete with listing sites like Craigslist through services like Marketplace, which has seen search volume grown three times globally since January 1, 2017. Untapped market for reliable peer-to-peer rentals However, there is an untapped market of consumers who need better ways to list subleases and shorter stays, Lee Lin, chief executive of apartment listing company Renthop said. A number of private Facebook groups exist for the purpose of sharing available housing outside of the traditional 12-month lease. “People are much more likely to share an apartment with someone if they have found their account through social media,” Lin said. Other peer-to-peer apartment rental services include Craigslist and Roomi. “It would be awesome if, instead of being at war for who is on the front page of Google, we could look at how many mutual friends we have and how trustworthy the apartment is,” he said. “This could potentially be a big time saver for people.” Nico Rattazzi, head of product at Zumper, said their integration allows some of these listings, with a mix of apartments from small landlords or individuals. “Zumper is one of the only places you can find both big buildings and this more unique inventory, so Facebook Marketplace was the natural partner for us,” he said.