Multiseller or multivendor websites, also called a marketplace or C2C (customer-to-customer) solution, is a popular trend in modern e-commerce. The major difference between a marketplace and a regular (B2C) e-commerce site is that you don’t sell anything: you let other people sell their goods on your site. Like on eBay or Etsy. Depending on the business model, marketplace sites can charge merchants a fee per sale, or a monthly fee, or even be free of charge. Registration and membership can be open or private (by invitation), and products can be either listed directly by a merchant or require prior approval by an admin.
Even though it’s not standard Magento functionality, there are a wide range of modern marketplace extensions that will turn Magento website into a multi-vendor site. Basically, Magento with a marketplace extension installed is a ready site itself. But in most cases it needs advanced setup and extra features added (coded), and our team has a lot of experience with these sorts of solutions.