- What is 72SOLD?
- How Does 72SOLD Work?
- Is 72SOLD Legit?
- Pros and Cons of Using 72SOLD
- 72SOLD Alternatives
- Key Takeaways
- 👋 Connect with Top Agents with FastExpert
72SOLD Reviews: A Comprehensive Analysis
Selling your home can be a lot of work, especially in a competitive market. The idea of selling your home with a lot less hassle and for a little more money sounds enticing. After all, no one likes dealing with real estate agents, buyers, negotiations, or home inspections.
Today, online platforms and iBuyers are rising trends. They promise easy sales and great returns. But are they worth it? And do they deliver on what they promise?
In this article, we will look into 72SOLD, a rising online platform that promises an easier way to sell your home without sacrificing price. We are conducting a comprehensive analysis of 72SOLD reviews and their service, so you don’t have to!
What is 72SOLD?
72SOLD is a real estate company based in Scottsdale, Arizona. The company promises outstanding sales results through its unique real estate selling program in just eight days.
Instead of following a typical home sale timeline involving preparing a home for sale, listing it, open houses, and then negotiating a deal, which usually takes a few months, 72SOLD condenses the sale process into just eight days.
72SOLD is not an iBuyer like Opendoor or Offerpad. The company is a normal real estate company that works with real estate agents and lists homes on the MLS. However, they approach their marketing differently in an attempt to generate as much interest from buyers in a short period of time.
As long as a home is ready to be listed (meaning that it doesn’t need significant repair or cleaning), 72SOLD promises to sell it in 72 hours.
If you engage 72SOLD, you’ll be working with a local real estate agent who will host an open house and help you negotiate your sale. Their process is similar to working with a traditional agent; it just takes place in a condensed time game.
Is 72SOLD a Discount Broker?
72SOLD is not a discount broker and doesn’t offer a lower commission fee than what is industry standard. Their costs still average between 5-6%, which they justify by how much money they spend on their condensed marketing strategy.
Sellers looking to save money on real estate commissions should not work with 72SOLD.
How Does 72SOLD Work?
72SOLD is a full real estate brokerage located in Scottsdale, AZ. However, they are quickly expanding into other markets and creating relationships with other brokerages. Recently, they established a relationship with Keller Williams as realtor partners, allowing them to extend their reach into most US property markets.
So, how does it work? It’s always a little suspicious when companies tell you they have a unique process but don’t fully disclose it to potential buyers.
So, let’s break down the steps of selling with 72SOLD.
Step One: Visit the 72SOLD Website
If you’re interested in working with 72SOLD and visit their website, you’ll be asked to input your address into their price quote landing page.
The website makes it seem like the user will receive an algorithm-generated quote, much like Zillow or Redfin, however, that’s not the case. After providing your address, property details, and contact information, you are then told to wait for a quote.
Step Two: Talk to a Real Estate Agent
What 72SOLD doesn’t directly tell its users is that their information is then forwarded to a local real estate agent. They will not receive a digital quote but will have to talk with an agent to get a price estimate.
This agent will either be a 72SOLD agent or one of their realtor partners. Within minutes, your phone will ring, and you’ll answer the call to an unknown real estate agent who makes a push to visit your property to give you a valuation.
Users don’t get to vet the agent’s experience or reviews before getting on the phone with them. The agent asks to see their property, after which they will provide their estimated selling price and marketing proposal.
Step Three: Meet with Agent
The real estate agent comes to your property for a visual inspection and to discuss your selling needs. At this point, you can ask the agent questions and decide your selling timeline. However, users must be prepared for the agent to pressure them to sign a listing agreement.
If the home is in selling condition, the agent claims they can organize a sale in as little as eight days.
Step Four: The Weekend Sale
72SOLD claims they have a unique and aggressive marketing strategy that allows them to sell a property in just eight days. Part of this strategy involves only holding open houses on one weekend for a condensed 90 minutes and then a hard deadline for offers. Potential buyers end up rubbing shoulders with other buyers, giving them the perception that there’s a lot of competition for the home.
The marketing strategy aims to create a bidding war to sell for top dollar in a short period of time.
Step Five: Offer Deadline
Offers are accepted as a set deadline. For example, if the home was listed over the weekend, offers might be accepted until 5 pm on Monday. While it’s a clever real estate strategy, it limits the buyer pool to those available and ready that weekend.
Once offers are submitted, the seller and their agent can review them side-by-side and then choose to accept one or enter future negotiations.
Step Six: House is Sold
Once a contract is signed, the process of selling a house through 72SOLD is exactly the same as a normal sale. Depending on the conditions negotiated, the buyer and seller must handle a home inspection, valuation, and financing to complete the deal.
Is 72SOLD Legit?
72SOLD is a legitimate business and not a scam. The company was founded in 2018 by Greg Hague and operates under a parent company, Hague Partners. The name ’72SOLD’ stems from their original promise to have a home sold within 72 hours, which has now been extended to an eight-day window due to changes in the real estate market.
72SOLD prides its services on outstanding reviews with a weighted average of 4.8 from various sources like Google and Yelp. But are these reviews accurate? According to Real Estate Witch, over 50% of reviews are from 72SOLD’s realtor partners, not their actual customers. It’s a bad sign when a company needs its partners to boost its rating. If you visit their Google Reviews, you’ll scroll by dozens of partner reviews before you find a customer review.
So, what do the actual customer reviews say about 72SOLD’s services? Well, they are mixed. Some clients believe it’s a great real estate program, while others have not had as good of an experience. 72SOLD’s ability to deliver on promises depends on local market conditions and the real estate agent the customer works with. It’s questionable whether their system would have much success in a down market.
Another claim that 72SOLD makes is that they achieve sale prices 8.5% above the median average. This claim might sound impressive, but it’s important to note that it has no statistical relevance to a sale’s outcome. If their team primarily markets and sells homes that have a higher market value, they will sell homes higher than the median average. Furthermore, given that home prices have generally been going up, it’s easy to achieve above-median price sale results.
What 72SOLD needs to make clear when you start to work them through their landing page is that you don’t necessarily get to pick the agent you get partnered with. Your lead gets sent to a local partner who makes it their mission to earn your business.
Home sellers considering 72SOLD should read the reviews and consider meeting with the agent who gets assigned to them. Approach their team as you would a traditional agent and ask them questions about the sale process and their plan to maximize your sale price.
Pros and Cons of Using 72SOLD
If you are in a hurry to sell your property, 72SOLD might be a viable option. Their business model is centered on creating a competitive environment. With one open house weekend, they encourage a large number of buyers to tour your property at the same time.
But 72SOLD isn’t for everyone. Their expedited sales process could mean that you end up leaving money on the table.
The pros of using 72SOLD include:
- You quickly get matched with a local real estate agent.
- Hassle-free home preparation for well-maintained homes.
- Your home only needs to be available for buyers for one weekend.
- The sale process is quick and often effective.
- You might make more money on your home.
72SOLD can be an easy and fast way to sell a property, however, their service also has some downsides.
The cons of working with 72SOLD include:
- Being unable to properly vet and compare your real estate agent.
- Missed opportunities by pushing for a fast sale.
- Relying on a fast sale but having your home sale take much longer.
- You’ll end up paying just as high of fees as when you work with a traditional agent.
Who is 72SOLD Good For?
72SOLD’s business model only works for some clients. You need to have the right kind of property in the right kind of market.
Sellers who might benefit from working with 72SOLD are those who:
- Want a Fast Sale: 72SOLD’s business model focuses on selling homes quickly. This is beneficial for sellers who need to sell their property promptly. For example, sellers pressured by work relocation, financial reasons, or other urgent circumstances might choose 72SOLD.
- Have Homes in Good Condition: Homes that are well-maintained and do not require extensive repairs are more likely to benefit from 72SOLD’s selling approach. Their model works best for properties ready to be shown to prospective buyers with minimal staging.
- Seek a Hassle-Free Process: If you want to avoid the inconvenience of multiple showings and open houses, 72SOLD offers a more streamlined process. They typically show the house during a single weekend, which can be advantageous for sellers looking for a less intrusive selling experience.
- Are Located in Competitive Markets: Homes in areas where the real estate market is strong, and properties sell quickly are likely to do well under the 72SOLD model. This is because there are plenty of buyers waiting for homes to be listed, so agents and their sellers can leverage an existing seller’s market.
If you live in a slower market or want to be sure you reach as many buyers as possible, then 72SOLD might not be the right fit. In a slower market, buyers will be discouraged by feeling rushed as they know they have other options.
If you want to get the most money for your home, there are some excellent alternatives to 72SOLD. It might take a little more time to sell your property, but the higher returns or cost savings could be worth the price.
Finding the right agent to handle a home sale is often the biggest hurdle for sellers. Knowing where to look and what reviews you can trust is challenging.
FastExpert helps you find the right agent by connecting you with top local agents. Read their reviews, check out their track records, and pick a top performer to help you sell your home for top dollar.
FastExpert is user-centric, providing easy navigation and the information you need to make an informed decision. Users get access to reviews and ratings for each agent. Our transparency helps you make an informed choice based on the experience of previous clients (not other real estate agents).
FastExert is a no-obligation search; you won’t be pressured into a sale and can take your time to find the right professional for you. FastExpert’s search makes connecting with agents across the United States from all types of brokerages easy.
Whether you’re looking for a low-commission real estate agent or a traditional agent, FastExpert’s search makes it easy. Whether you’re looking to buy, sell, or rent, FastExpert agents are experienced in various types of real estate transactions. Get expertise tailored to your specific situation.
Redfin is known for its lower commission rates compared to traditional brokerages, which can help you save money on your property sale. They use technology to streamline the selling process, which can result in cost savings for the seller. Redfin also provides a full-service experience, including listing, marketing, and negotiating with buyers.
The downside of Redfin is that sellers are limited to agents that work with Redfin.
iBuyer services are designed to make selling your property easy and fast. The downside of an iBuyer is that they usually offer 1-2% below market value and have high fees. IBuyer fees can be as much or higher than a real estate commission.
Opendoor is an iBuyer that makes instant offers on homes. This service is ideal for sellers who prioritize speed and convenience over maximizing the sale price. Opendoor handles the entire process, from inspection to closing, making it a hassle-free option for many sellers.
72SOLD promises a fast sale, but unlike Opendoor or Offerpad, it is not an iBuyer. 72SOLD is a traditional real estate company that employs a different marketing strategy to generate buyer interest rapidly.
While 72SOLD has a high overall rating, most of its reviews come from partners and employees. Actual customer reviews are mixed, highlighting both successes and challenges in their approach. 72SOLD is not a scam, but they do seem to oversell their business model.
Having started in 2018, they entered a housing market of rapidly increasing home values with tons of competition, and homes were flying off the market. It was easy to sell a property in 72 hours.
Today, it’s obvious that 72SOLD has realized that the market value proposition wasn’t sustainable. They no longer promise a sale in 72 hours, but instead it’s an 8 day timeline.
If you want to save money on real estate commissions, there are better options than 72SOLD. 72SOLD charges industry-standard fees (5-6%), justifying them with their condensed marketing strategy and possibly selling for a higher price. However, you won’t get the same level of sale prep other agents offer. 72SOLD is best for those who need a quick sale and have homes in sale-ready condition.
👋 Connect with Top Agents with FastExpert
If you’re looking for personalized support and a potentially more profitable sale, explore other options like FastExpert. FastExpert helps you connect with top local agents, providing a user-friendly platform to read reviews and assess track records. This approach ensures you find a professional aligned with your needs without pressure or obligation.
Whether you’re selling or buying, FastExpert’s wide range of agents cater to your diverse real estate needs. Get a more traditional yet efficient route to property transactions.
Explore your options, connect with local real estate professionals, and start your journey to a successful property sale with FastExpert.