There are quite a few 72 Sold Reviews online. Many of them are positive. But with all of the fake reviews nowadays, how can you be sure they are legitimate? That’s why I took it upon myself to do my own due diligence on this company and write my own 72 Sold Review.
What is 72 Sold?
72 Sold tries to simplify the home-selling process by offering a more efficient solution. They confidently assert that, through their platform, they can connect sellers with a qualified buyer within just 8 days of listing.
The company was founded in 2018 in Scottsdale, Arizona. They quickly garnered attention with some aggressive marketing spearheaded by founder and real estate broker Greg Hague, along with endorsements from major brands such as Forbes, Major League Baseball, and the NFL.
72 Sold collaborates with Keller Williams in more than 30 U.S. markets. This partnership ensures that 72 Sold customers pay the same real estate commissions to their agents as they would through traditional methods, outside the platform.
The key selling point of 72 Sold is hinted at in its name, which suggests the possibility of selling your home in 72 hours or less. In reality, the platform claims it can secure a buyer within 8 days or less.
Beyond speed, 72 Sold offers sellers a chance to skip the traditional selling process. This means no more weeks of open houses or disruptive showings, and, according to the platform, you could potentially earn thousands more for your home than with a conventional sale.
Is 72 Sold Legit? (or scam?)
72 Sold is a legit company, and they do have some satisfied customers. However, the 72 Sold reviews are mostly a mixed bag and many customers did not have a pleasant experience. Let’s take a closer look.
After digging into the 72 Sold reviews online, we noticed that most positive reviews appear to come from Keller Williams real estate agents who partner with 72 Sold. While one benefit of the 72 Sold system is the opportunity to work with experienced agents, it seems that many 72 Sold reviews online may be written by agents themselves, possibly to enhance the perceived effectiveness of the service.
Negative 72 Sold reviews reveal dissatisfied customers sharing concerns about their experiences. Many report encountering aggressive sales tactics and a persistent stream of unwanted texts and calls from agents. Additionally, several customers mentioned a lack of support throughout the selling process.
We also found numerous customers reporting that 72 Sold did not fulfill its promises, with many homes remaining unsold within the advertised time frame. Some customers also alleged misleading advertising of the service and felt that 72 Sold misrepresented the costs involved.
72 Sold Reviews Summary
- Better Business Bureau: 5.0 rating (118 reviews)
- Trust Index: 4.2 rating (78 reviews)
- Google Reviews: 4.8 rating (2033 reviews)
On the surface, 72 Sold reviews seem mostly positive. However, there’s been considerable discussion online suggesting that many of these reviews may be coming from 72 Sold’s agent partners rather than actual customers.
The 72Sold website showcases a long list of satisfied customers, with many claiming impressive results as sellers. However, these testimonials are mainly screenshots and text snippets from interviews and not reviews written by their customers. While there is a reviews section, it only displays a few select “Featured Reviews” from sellers.
72 Sold Reddit Reviews
Numerous Reddit users have shared their experiences with 72 Sold. Many reviewers reported unsatisfactory experiences, while others noted that the strategy of listing a house mid-week and limiting showings to a weekend open house to encourage a bidding war is commonly used by many brokerages.
We spoke to an agent from 72SOLD today. They claim to have an innovative tactic where they list on the MLS, they only allow home tours for one weekend with a deadline for offers by Monday at 5 pm. They try to get competing offers and drive up the price. They charge 2.5% and most likely there will be a charge of 2.5% on the buyer’s side.
This is literally what we are all doing. lol In fact, our local association had to put the hammer down because too many agents were listing on Wednesday but not allowing showings until the open house on Saturday. Now we have to allow showings within 24 hours of putting a sign in the yard and/or listing in the MLS.At that rate, you can probably get a full-service agent. If your goal is to milk out every penny, the last thing you need is a company calling to offer this ‘deal’ as if it’s special/different.
72 Sold Pros
When it comes to selling your home, there’s a lot to like about 72 Sold as a seller. While their 8-day guarantee is promising, it may not be achievable for every seller on the platform.
Nevertheless, let’s explore the top reasons why you should consider 72 Sold for selling your property this year:
- Get it Sold in 8 Days or Less: 72 Sold guarantees that your property will sell within 8 days on their platform. This guarantee has been highly effective in attracting new clients and remains a strong driver of customer interest. Thousands of sellers have successfully sold their homes through 72 Sold within this 8-day window.
- Professional Agents with Experience To ensure a seamless selling process, 72 Sold has partnered with Keller Williams, giving sellers access to experienced and trusted real estate agents. Sellers can review past client feedback on agents before selecting one to guide them through the sale.
- Simplified Selling Process for Well-Maintained Homes:
For sellers with well-maintained properties in good condition, especially in a seller’s market, the 72 Sold platform offers a smooth and straightforward experience.
- No Prep Work, No Staging: Sellers can skip the time and expense of staging and preparing their homes. Simply upload photos and property details to 72 Sold, eliminating the need for scheduling showings or open houses.
72 Sold Cons
72 Sold promotes itself as a real estate service that delivers higher sale prices and fast sales. However, there are several potential drawbacks to consider before choosing to sell through 72 Sold. Let’s take a closer look.
- Commissions: 72 Sold does not offer discounted real estate commissions; instead, they charge the typical 5 to 6 percent commission that most agents require. The main advantage of 72 Sold is the potential for a quicker sale without the need for home preparation beforehand.
- Advertising Could be Misleading: The name “72 Sold” implies that homes are sold within 72 hours, but the actual goal is to sell in 8 days or less. The “72” refers to the time window sellers have to review and accept an offer. Additionally, the closing process can take 60 days or longer, so sellers should be prepared for this extended timeline.
- Won’t Work in Buyer’s Markets: Many reviews suggest that 72 Sold is most effective in seller’s markets and may not yield the same results in buyer’s markets.
- Distressed Properties will be Harder to Sell: For distressed properties, 72 Sold does not guarantee a sale within 8 days. Homeowners with distressed properties may want to consider cash buyers or real estate wholesalers to expedite the selling process.
Is 72 Sold Right for You?
72 Sold is a robust home-selling platform that can help some sellers achieve a faster sale and potentially higher sale price. However, it may not be the best fit for everyone. Here’s a look at who might benefit most from using 72Sold.
Houses in Hot Markets
Hot real estate markets can be rare, but if you’re in one, selling on 72Sold could present an excellent opportunity for a quick and profitable sale.
That said, sellers should consider current interest rates and economic conditions before committing to 72Sold to ensure it’s the right time to sell.
Homes in Great Condition
It’s no surprise that homes in great condition sell quickly and at higher prices, and this is particularly true on 72 Sold. Homes in sought-after neighborhoods in show-ready condition have a strong likelihood of selling in under 8 days on the platform.
On the other hand, homes that require significant renovations or repairs may not perform as well on 72 Sold. It’s crucial to evaluate your home’s condition to determine if the platform is the right choice for you before getting started.
How Much Does it Cost?
As mentioned, 72 Sold partners with Keller Williams real estate agents to handle their transactions. This means sellers are required to pay standard commission fees, including 2.5 to 3 percent to their own agent and 2.5 to 3 percent to the buyer’s agent.
This fee structure leads many sellers to explore other options. Working with a discount real estate broker or a cash buyer can help save on fees, while for-sale-by-owner (FSBO) listings, though risky, can result in lower commission costs.
Bottom Line
Today’s seller’s market offers significant advantages for homeowners looking to capitalize on home appreciation and increased buyer competition. Simply put, now is an ideal time to sell your home.
However, sellers have various options when it comes to listing their property and selecting a sales method. Many homeowners choose to work with a traditional real estate agent, as mentioned earlier, while others prefer selling to a cash buyer or real estate wholesaler off-market.
Since its launch in 2018, 72 Sold has gained considerable attention. However, we do not recommend this platform for sellers in today’s market.
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