[72SOLD Reviews]: Costs, How It Works, and Alternatives – Everything you need to know

Using a competitive bidding method and an average commission fee of 5.4%, 72SOLD is a real estate firm that promises to sell houses in 72 hours. However, the company has come under fire for closings taking longer than projected, sales prices that were lower than anticipated, and inattentive agents.

With the help of the 72SOLD programmer, you may sell your house in any condition—from completely demolished to ready for move-in. The price and timing of the sale, however, may be impacted by the state of your house. In comparison to a typical sale, you might not get as many offers or as high of a price if your house requires a lot of repair. You could also have to deal with repairs, inspections, and other issues that could cause the closing to be delayed. As a result, consider the advantages and disadvantages before choosing.

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How does 72SOLD determine the price of my home?

72SOLD uses a 15-minute agent tour and internet research to determine a home’s price. To determine a recommended selling price, they take into account market data, comparable properties, and user input. After visiting the house to confirm its characteristics and condition, the agent sets the final asking price.

Is 72Sold Legit?

Yes. A nationwide network of associated brokers, 72SOLD was established in 2018 by Arizona realtor Greg Hague with the goal of listing and selling houses over the course of a weekend by means of a competitive bidding technique.

The majority of the over 1,500 favorable internet reviews, which have an almost 5-star rating, are provided by realtor partners. The real client evaluations, however, are contradictory; some complain about sales prices that were less than anticipated, uncooperative brokers, and postponed closings. Therefore, before choosing to sell your house with 72SOLD, it is advised that you conduct your own research and weigh your choices.

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How Does 72Sold.com Work?

72Sold.com introduces a unique home-selling program promising a swift sale within 72 hours using a competitive bidding approach. The process involves several steps:

• Input your address and home details on the website to receive a suggested sales price derived from online research and 72Sold’s resources.
• Schedule a 15-minute walkthrough with a 72Sold agent to confirm your home’s condition and finalize the asking price.
• Select a Saturday for a 90-minute window showcasing your home to potential buyers. 72Sold aggressively markets your property to create buyer urgency.
• Review offers on Sunday, deciding to accept, reject, counter, or choose not to sell if unsatisfied.
• Complete the deal with the chosen buyer within 60 days.

While 72Sold touts faster sales and higher prices than traditional methods, some customer reviews report issues like lower-than-expected prices, unresponsive agents, and delayed closings. Prospective users are advised to conduct thorough research and compare options before opting for 72Sold’s services.

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The Weekend Sale of 72SOLD

The weekend sale strategy by 72SOLD is designed to expedite home sales within 72 hours, fostering urgency and competition among potential buyers. The process entails:

• Registration on 72SOLD’s website and providing home details to receive a suggested sales price based on online research and internal resources.
• Scheduling a 15-minute walkthrough with a 72SOLD agent to verify home condition and set the final asking price.
• Selecting a Saturday for a 90-minute home showcasing window, aggressively marketed by 72SOLD to attract numerous buyers.
• Reviewing received offers on Sunday, with the option to accept, reject, counter, or choose not to sell if dissatisfied.
• Finalizing the deal with the chosen buyer within a 60-day timeframe.

While 72SOLD asserts quicker sales and higher prices compared to traditional methods, customer reviews have highlighted concerns about lower-than-expected sale prices, unresponsive agents, and delayed closings. Prospective sellers are advised to conduct independent research and compare alternatives before opting for 72SOLD’s services.

72Sold’s Nationwide Coverage

72SOLD, a real estate enterprise, promises a rapid home sale within 72 hours through a competitive bidding approach. Their website indicates a presence in 38 US markets, Guam, and select regions in Canada. A partnership forged with Keller Williams in June 2022 has expanded their program nationwide.

Despite this, customer feedback has surfaced concerns about subpar sales prices, unresponsive agents, and delayed closings. To make an informed decision regarding home sales through 72SOLD, thorough research and comparisons with alternative options are advisable.

Sources:

• Houzeo’s “72SOLD Reviews: Pros, Cons, and Alternatives (2024)”
• KW Answers on the availability of 72SOLD in all states

What is the commission rate and fees for 72SOLD?

A real estate firm called 72SOLD makes the claim that by employing a competitive bidding method, they can sell houses in 72 hours. Nevertheless, in contrast to typical agents, it does not provide a savings on commissions and costs. 5.4% is the average commission rate, divided between the buyer’s agents and the selling agent.

Closing fees are around one percent of the sale price, and the inspection report may indicate that concessions or repairs are necessary. You might save more money with Clever Real Estate or Homebay, among other possibilities.

72sold.com reviews and Complaints

72Sold has an amazing 4.9 star Google rating with 2,066 reviews; nonetheless, proceed with care. Notably, 72Sold sought a high rating and managed to get more than 8,000 ratings from Keller Williams agents alone. Of the 500 evaluations we looked at, 453 were authored by our partner realtors.

In a YouTube video, former Keller Williams agent Lydia Rowe discussed her experiences and claimed that 72Sold paid training agents to write 5-star evaluations on many sites. In contrast to favourable comments, unfavourable evaluations of 72sold google reviews  highlight subpar customer service.

Stephanie Franke praises her Realtor in one of the glowing testimonials, confirming careful consideration of 72Sold’s programme and its apparent efficacy. With its bold boast of selling houses in 72 hours, 72SOLD is a real estate firm that has come under fire for underwhelming sales figures, uncooperative agents, and postponed closings.

Consumers looking for better service and less expensive costs may browse reviews and contrast 72SOLD with other options like Clever Real Estate or Houzeo.

72Sold Advantages and Disadvantages

72sold reviews and complaints 

Here’s an overview of the advantages and drawbacks of using 72Sold, gathered from online findings:

Advantages:

• Expedited sale: Homes typically sell within eight days or less.
• Foster competition: Creating urgency among buyers may result in higher offers.
• Flexible closing: Sellers can select their closing date, with a window of up to 60 days.
• Professional representation: A licensed real estate agent manages marketing and negotiation.

Disadvantages:

• Limited showcasing time: Houses are presented for only 90 minutes on Saturdays, potentially restricting buyer exposure.
• Possible lower offers: Sellers might not secure the best price, facing lower bids or deal cancellations.
• Standard commissions: 72Sold charges an average of 5.4%, aligning with the national average.
• Agent reliability: Complaints about unresponsive agents and delayed closings exist in customer reviews.

To delve deeper into 72Sold, explore their website or peruse customer feedback. Additionally, consider comparing 72Sold with alternatives like Houzeo or Clever Real Estate, which might offer reduced fees and more flexibility. This information aims to assist in making a well-informed decision about selling your home.

Competitors of 72Sold

Some of 72Sold’s rivals, based on the results of my online search, are:

• Opendoor: A cash-for-house iBuying business that offers less than the house’s market value.
• Houzeo: A flat-fee MLS listing service called Houzeo can help you sell your house for less money than 72Sold.
• Clever Real Estate: A low-cost brokerage that pairs you with a neighbourhood representative willing to sell your house for a fixed price or a lowered commission.
• Patricia Erwin Ruth Sells Lake Conroe is a Texas real estate agent with a focus on waterfront sales.
• Brian Tanger ZSR Realty Corp: Full-service and flat-fee real estate brokerage services for Florida homeowners.

Comparison: 72Sold with eXp Realty

72Sold specializes in swift property sales, priding itself on achieving a remarkable 72-hour turnaround. Their focus centers on speed, prioritizing rapid sales. On the flip side, eXp Realty stands as a leading nationwide real estate brokerage renowned for its pioneering virtual office setup and technology-centric approach. Their model emphasizes flexibility and collaborative platforms.

Comparison: 72Sold with Fathom Realty

72Sold places a strong emphasis on employing efficient marketing strategies to expedite property sales. However, sellers should be mindful that quick sales might not always yield the highest selling price. In contrast, Fathom Realty operates as a digital real estate brokerage. Their agents provide conventional services along with offerings like an all-cash purchase option and a trade-in service to facilitate home sales.

Comparison: 72Sold with Opendoor

When aiming for a rapid home sale, Opendoor stands out as an exemplary iBuyer. Although 72Sold can present an offer within a weekend, the closing process might extend up to 7 to 8 days. Conversely, iBuyers typically offer a quicker closing timeline.

What is the average time to sell a house?

The duration to sell a house varies based on factors like location, condition, price, season, and market demand. Generally, in the U.S., the average timeframe from listing to closing ranges between 55 to 70 days. Yet, this varies significantly depending on the specific area and property characteristics.

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Markets in Colorado, Washington, and California boast swift sales, with homes going under contract in under 10 days¹, while slower markets like Florida, New York, and Connecticut might take over 40 days¹ for homes to secure contracts.

To expedite the sale of your house, consider these tips:

• Engage a professional real estate agent who can accurately price your home, market it effectively, and negotiate with potential buyers.
• Enhance buyer appeal by decluttering, cleaning, staging, and addressing necessary repairs or upgrades.
• Remain flexible and realistic regarding offers received and your chosen closing date.
• Explore alternative options like iBuying services, flat-fee MLS listing services, or discount brokerages that might offer convenience and lower fees, albeit potentially impacting sale prices.

Understanding the average house selling duration and implementing these strategies may improve your chances of selling your property more swiftly.

Sources:

• Information sourced from discussions with Bing on 12/18/2023.
• Data retrieved from Zillow, Review42, HomeLight, and U.S. News Real Estate.

Can I use 72Sold outside of the US?

A nationwide network of connected brokers called 72Sold strives to list and close on houses in a single weekend. It does not, however, function outside of the United States; therefore, if you’re searching for a comparable service abroad, take into consideration bargain brokerages, flat-fee MLS listing services, or iBuying services. These choices could be more affordable, more convenient, and have less costs.

Frequently Asked Questions (FAQs)

1. How does 72Sold ensure quick home sales?

72Sold utilizes a competitive bidding approach and robust marketing strategies that create urgency among buyers, often leading to swift sales.

2. What are the fees associated with 72Sold’s services?

Typically, 72Sold charges an average commission of 5.4%, aligning with the national average. However, specific fees may vary based on property and location.

3. Can sellers select their preferred closing date with 72Sold?

Yes, sellers have the flexibility to choose their closing date, with options available up to 60 days from the sale.

4. How long are homes showcased for potential buyers with 72Sold?

Properties are presented for a 90-minute window on Saturdays, potentially influencing exposure to potential buyers.

5. Is it mandatory to work with a real estate agent through 72Sold?

Yes, 72Sold provides licensed real estate agents to handle marketing and negotiation processes on behalf of sellers.

6. Can the online reviews and ratings for 72Sold be trusted?

While 72Sold receives positive ratings, certain reviews raise concerns about agent responsiveness and sales prices. Thorough research and consideration of various sources are recommended before making a decision.

7. Are there alternative services similar to 72Sold available?

Yes, platforms like Houzeo or Clever Real Estate offer similar services with different features and potentially varying fee structures. It’s advisable to compare multiple options before selecting a service.

8. What recourse do sellers have if they’re unsatisfied with 72Sold’s offers or services?

Sellers retain the discretion to accept, reject, or negotiate offers received. However, it’s crucial to review the terms and conditions for any contractual obligations.

These FAQs aim to address common queries related to 72Sold’s services. For specific questions or further details, direct communication with their representatives or a deeper exploration of their terms and website might be necessary.