Real EstateTechnology

Fast-growing local marketplace app letgo expands into real estate listings

App now allows sale and rental listings

If you’ve been anywhere near a TV in the last year or so, you’ve probably seen a commercial for letgo, an app that allows users to sell unwanted goods to other users who actually want that stuff.

The app functions as an online marketplace, connecting sellers to buyers and vice versa, and since it launched in 2015, letgo has grown considerably.

letgo recently disclosed that its app passed 75 million downloads, and said that users have already posted more than 200 million secondhand listings through the app.

Additionally, comScore recently ranked letgo as the second fastest growing app since 2015, and its ads are seemingly unavoidable on TV. Here's a sample of one of letgo's ads.

Up to this point, letgo built it fast-growing business on things like electronics, collectibles, clothing, furniture, cars and more.

But now, letgo is getting into housing.

The company announced on Monday that it is launching a real estate listing section, and will allow users to list homes and apartments for sale or rent on its app.

The move puts letgo even more into direct competition with Craiglist, which also features real estate listings.

letgo will also now compete with Facebook for real estate listings.

Last year, Facebook announced that it is significantly expanding the real estate listings section on its Marketplace, which is Facebook’s attempt to take on Craigslist, eBay, and other e-commerce platforms like letgo.

Facebook currently allows individual homeowners to list their homes for sale on Marketplace. According to Facebook, the feature is “rolling out gradually” and is currently only available via the mobile app in the U.S.

Facebook also went full force into rental listings, via partnerships with Apartment List and Zumper.

And while Facebook is getting its rental listings from outside sources, all of letgo’s listings will come directly from its users, the company said.

letgo Co-founder Alec Oxenford said that the expansion into real estate is a “natural” expansion of the company’s offerings.

“We see this as the natural evolution of a vast and diverse marketplace like ours, especially as we approach the 100M-download milestone,” Oxenford said. “We’ve designed letgo to make it effortless to list what you don’t need and find what you do in your own neighborhood, whether that’s a snowboard, an SUV or a two-bedroom apartment with a view.”

According to letgo, the app’s “intuitive design” means that browsing and listing housing and other types of property is “simple.”

Users need to only take a photo or two and add in a few key details to post a space for rent or sale.

Then, users can connect directly with the listing user to begin the buying or renting process.

letgo said this new functionality is “rolling out gradually” across its marketplace. The company plans for it to be available to all users in the U.S. by the end of the month.

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