Should you use 72SOLD to sell your house?
Selling your home can be a daunting task, especially in a fluctuating market. However, with innovative solutions like 72SOLD, homeowners now have access to a unique selling proposition that promises to sell their house quickly and for a premium price. This article delves into the workings of 72SOLD, its advantages, and how it compares to traditional and alternative selling methods.
What is 72SOLD?
72SOLD, a BBB accredited virtual full-service broker, offers a compelling promise to sell homes within 72 hours, aiming for the highest bidder at a competitive market price. Unlike traditional real estate sales, 72SOLD employs a strategic marketing approach, leveraging the current real estate market dynamics to attract a plethora of potential buyers.
How 72SOLD Works
The process begins when homeowners submit their property details to a 72SOLD authorized agent for a comprehensive market analysis. Based on this information, 72SOLD sets a competitive price, aiming to sell your home for top dollar. Their innovative selling strategy includes a limited-time offer to create a sense of urgency among buyers, enhancing the potential to sell your house quickly.
How much does 72SOLD cost?
When it comes to saving money on your home sale, 72SOLD may not be the best option. With an average commission rate of 5.4%, which aligns with the national average[1], it may not provide the cost savings you are looking for.
You can sell your house fast and pocket more money with an alternative company, like Townsend Realty Group.
Our top-rated agents provide multiple options to choose from, giving you the power to make the best choice for your situation. One option is our discounted listing program which charges a lower listing fee (1.5%) compared to 72SOLD (2.5–3%), which could save you thousands.
💰 SAVE: Contact us to learn more about how to list your home for as low as 1.5%
Who should use 72SOLD?
| 72SOLD is ideal for sellers who want: | 72SOLD is ideal for homes that are: |
|---|---|
| An aggressive strategy to sell their home quickly | In good condition and not in need of extensive repairs |
| The ability to list the home to maximize the price without continued showings | Ready to be shown to prospective buyers with minimal staging |
| A flexible timeline with a closing date up to 60 days away | In a competitive market, where homes are selling quickly |
While 72SOLD’s fast-selling timeline may sound appealing, its program isn’t the best fit for everyone. There’s no guarantee that you’ll sell at your desired price within just a week, and its approach may not work well in markets where buyers have the advantage.
What is 72SOLD?
72SOLD is a network of affiliated brokers across the US that aim to list and sell your home within eight days.
In practice, selling with 72SOLD is similar to selling your home the traditional way. A licensed real estate agent lists your home on the MLS and markets it for a fee similar to what you would expect to pay using a traditional agent.
The difference between 72SOLD and other brokerage systems is the short period your home is on the market. According to the company, the small window of time for showings creates a fear of missing out on the home — leading to more competitive offers.
Comparing 72SOLD with Other Selling Methods
72SOLD’s method stands out by providing a fast, efficient, and potentially more profitable way of selling homes compared to traditional methods that may involve longer listing periods and numerous showings. Moreover, when compared to other alternative selling methods, 72SOLD’s approach minimizes stress and maximizes outcomes for sellers.
Real Estate Commission and Fees
While traditional brokers and some virtual full-service brokers, including 72SOLD, charge a real estate commission, the promise of a higher selling price may offset these costs. It’s essential for sellers to conduct a competitive market analysis to understand the potential financial outcomes fully.
Is 72SOLD a scam or legit?
72SOLD is a legitimate company that was founded in 2018 by Arizona realtor Greg Hague, who also founded its parent company (Hague Partners) in 1998.
Inc. named 72SOLD one of the fastest-growing companies in 2022 and 2023. In June 2022, Keller Williams announced a strategic partnership with 72SOLD that gives KW agents access to the 72SOLD program.
The Advantages of Choosing 72SOLD
- Fast House Selling: By creating a competitive buying environment, 72SOLD shortens the time your home spends on the market.
- Premium Price: Their model aims to secure a price often above the market rate, benefiting sellers financially.
- No Showings Option: For those seeking privacy and convenience, 72SOLD offers a no-showings option, streamlining the selling process.
- Professional Home Services: With services like free home upgrades, sellers can enhance their home’s appeal without upfront costs.
Good customer service
Countless satisfied customers have praised their 72SOLD agent for their exceptional professionalism. These dedicated agents are known for their extensive knowledge, prompt responsiveness, and willingness to provide informative answers to any inquiries.
Knowledgeable marketing
Many satisfied customers have praised our agency for our exceptional marketing strategies and ability to generate interest in homes before showings. We take great pride in our expertise in promoting properties and maximizing their exposure in the market. By utilizing innovative techniques and leveraging our extensive network, we ensure that your home receives the attention it deserves.
Higher sale prices
One consistent satisfaction expressed by customers is the impressive sale prices they achieved for their homes. Numerous reviews highlight offers that exceeded the original listing prices by tens of thousands of dollars, resulting in profitable transactions.
72SOLD vs. alternatives
| Fees* | Home sale price | Median days on market | Avg. time to close | |
|---|---|---|---|---|
| 72SOLD | 5-7% | 100% of the listing price | 8** | 30–45 days |
| Traditional | 5-7% | 98–100% of market value | 20 | 14–60 days |
| iBuyer | 5% | 80–85% of market value | Instant | 8–90 days |
| Discount broker | 4–4.5% | 85-92% of market value | 17 | 30–45 days |
| Cash buyer | None | 50–70% of market value | Instant | 7 days |
| *Not including closing costs. **72SOLD’s business model limits time on market; no guarantee of sale. | ||||
Discount broker: Best for full service at a bargain price
The main differences between selling with 72SOLD and with a low-commission real estate agent are the marketing style and the savings. If your home is market-ready (in good condition, in an area with high buyer demand, and ready to show), but the 8-day buying window isn’t appealing to you, consider using a discount broker.
The best discount agents offer savings without sacrificing service. If you use a discount listing program through a company like Townsend Realty Group, your realtor will work hard to sell your house on time and for top dollar. And they’ll only charge a 1.5% listing fee, which is half the typical rate.
» Get matched with top agents for half the price
iBuyer: Good for selling a home in good condition
You’re more likely to sell your home for a higher price with 72SOLD, or a traditional listing agent. But if you want to avoid the listing and showing process altogether, look into selling to an iBuyer company.
iBuyers (companies like Keller Offers, Offerpad and Opendoor) buy homes in relatively good condition directly from sellers, but they tend to pay less than the open market. Both companies charge 5% to buy your house.
Both Offerpad and Opendoor also offer flexible closing dates, so you can choose a date months down the road if you need more time in your home.
Cash buyer: Good for selling a home as is
If your home needs expensive repairs that you don’t want to complete before selling, a cash buyer can offer a quick and easy way to sell.
Cash buyers (like We Buy Any Atlanta Home) typically purchase properties in any condition, making them ideal for selling homes with major problems, like foundation issues. You can usually get an offer from a cash buyer within 24 hours and close in under 2 weeks.
You’ll pay a price for the convenience of a cash buyer, though — it might offer as little as 50–70% of the fair market value for your home. But you won’t need to invest any time or money getting the home ready for the open market.
Compare all your options
Sometimes it’s hard to know the best way to sell your house. To make the right decision, you need to know all your options. You can explore your options either by yourself or by contacting us.
Our agent will request cash offers from local buyers on your behalf. They will present the offers to you and answer any questions you may have.
You’ll also get a professional home valuation from our in-house appraiser so you know what your home could be worth on the open market. If you decide to sell on the open market, we will work with you to get the best price for your home.
Frequently Asked Questions
What Makes 72SOLD Different from Other Real Estate Services?
72SOLD’s unique selling proposition lies in its aggressive marketing strategy, aiming to sell homes within 72 hours by attracting the highest bidder, offering a blend of speed and profitability that’s hard to find in traditional real estate transactions.
How Does 72SOLD Ensure a Home Sells for a Premium Price?
Through a combination of strategic pricing, limited-time listings, and comprehensive marketing, 72SOLD creates a competitive environment that encourages buyers to submit their best offers quickly.
Are There Any Guarantees That My Home Will Sell with 72SOLD?
While no service can guarantee a sale, 72SOLD’s track record and real estate reviews suggest a high success rate in selling homes quickly and for a premium price, depending on market conditions and the property’s appeal.
Do I have to sell?
There is no obligation and no fees if you decide not to sell. Even if a prospective buyer makes a good offer and meets your terms (such as a specific closing date), you can refuse the offer.
Do I have to move out quickly?
Like most traditional home sales, you can ask buyers for a closing date up to 60 days out.
If you need to stay in your home longer than 60 days, 72SOLD will market your home to investors at lease-back companies instead of the open market. Selling your home to an investment company will allow you to stay in the home and pay rent for up to six months.
In conclusion, 72SOLD presents an innovative selling strategy for homeowners looking to sell quickly and at a premium price. With its unique approach, professional services, and potential for higher sale prices, it’s a compelling option for sellers in the current real estate market. Whether considering selling your home through 72SOLD or exploring alternative methods, it’s crucial to weigh the pros and cons based on your specific circumstances and market dynamics.
Townsend Realty Group is a local real estate company which offers a wide variety of selling options for our clients. Contact us today to schedule a consultation and let’s discover how we can best meet your goals.