Facebook has modified its flyer's advertising platform, changing it to an auction-based CPC model, called Flyers Pro. As the Facebook flyers advertising option was arguably the most dismal in terms of click-through rates and ROI, it was high time for a change. Now advertisers can set a max price for what they're willing to spend on a regular basis with Facebook flyer ads, and the prices will be determined accordingly.
Ads can be targeted for demographic options including sex, age, location, political views, relationship status, education status and workplace. This is nearly identical to Google Ads, which is a system that is heavily used, and often replicated. Facebook has been making several accommodations to appease advertisers as the site has seen significant growth in the past year, from offering up profile data to providing block out options, and will surely continue to be flexible in order to provide useful advertising options that will win over the users of Facebook.