Selling a home in today’s busy world can be a difficult and time-consuming process. Traditionally, sellers contact a local real estate agent who starts the selling process that consists of paperwork, home staging, open houses, and negotiations that can take several months or longer.
Luckily for sellers, 72Sold aims to solve this problem by streamlining the home selling process. They boldly claim that, using their service, they can find a high-quality buyer within 8 days of listing on their site.
Additionally, 72Sold cites 7 independent studies that show selling with 72Sold results in higher sale prices for sellers. But is 72Sold legit?
We analyzed dozens of 72Sold reviews and found that this popular platform might be too good to be true. Let’s take a look at the pros and cons of 72Sold as well as some alternative options to make sure you sell your home for top dollar this year.
What is 72Sold?
72Sold started in 2018 in Scottsdale, Arizona. The platform quickly gained traction due to the successful marketing efforts led by founder and real estate broker Greg Hague, as well as endorsements from several prominent companies like Forbes, Major League Baseball, and the NFL.
New 72Sold users should understand that the company partners with Keller Williams in over 30 markets in the United States. This means that 72Sold customers pay the same real estate commissions to their agent as they would outside the platform.
The main selling point of 72Sold is in its name, which may suggest that they can sell your home in 72 hours or less. In reality, the platform claims to be able to find a buyer within 8 days or less.
Additionally, 72Sold provides sellers with the ability to bypass the traditional selling process. You’ll avoid weeks of open houses and inconvenient property showings and, allegedly, receive thousands more for your home compared to a traditional sale.
However, selling with 72Sold isn’t the best option for everyone. As we’ll discuss, selling on the platform can be difficult depending on the current real estate market. Sellers must also deal with real estate agents that can be pushy or aggressive during the selling process on 72Sold.
Is 72Sold Legit?
72Sold is a legitimate company with international operations. However, there’s more than meets the eye when it comes to customer satisfaction and results for sellers.
The majority of positive 72Sold reviews come from real estate agents at Keller Williams who partner with 72Sold. One of the reasons to use the 72Sold system is to work with distinguished real estate agents, but it seems that many of the reviews are written by agents themselves to boost the perceived effectiveness of the service.
Negative 72Sold reviews show unhappy customers complaining about their experience. Many customers dealt with aggressive sales tactics and a constant influx of unwanted text messages and phone calls from agents. Many also said the customer support was non-existent throughout the selling process.
Additionally, we saw dozens of customers claiming that 72Sold failed to deliver on their promises and their home wasn’t sold in the advertised time frame. Some also pointed towards false advertising when selling their service and that 72Sold misrepresented the costs involved.
After sifting through online 72Sold reviews and compiling the data, we found some interesting information. Like we mentioned, 72Sold reviews are mixed depending on the review platform and the date of the reviews, but here’s what we found:
- Google – 4.9/5 from 2,102 reviews
- Better Business Bureau (BBB) – 5/5 from 125 reviews
- Yelp – 2.6/5 from 51 reviews
- Trustindex – 4.3/5 from 175 reviews
Online 72Sold reviews seem very positive for the most part, right?
Keep in mind that about 70 percent of the positive 72Sold reviews come from their agent partners. While this shouldn’t be a deal breaker, it’s helpful to know that the praise for 72Sold isn’t entirely coming from its customers.
You’ll see on the 72Sold website a long list of happy customers claiming the platform achieved incredible results for them as sellers. However, these testimonials are simply screenshots and snippets of text from their interviews. 72Sold has a reviews section on their website but only shows a few “Featured Reviews” from sellers.
There’s a lot to like about 72Sold as a seller. Their 8-day guarantee is promising but may not come to fruition for every seller on the platform.
Nonetheless, let’s take a look at the top reasons to consider 72Sold when selling your property this year:
- Sell in 8 Days or Less: 72Sold guarantees that your property will sell on their platform in 8 days or less. This guarantee has proven to be extremely effective in attracting new users and continues to drive their customer acquisition. Thousands of sellers have successfully sold their homes on 72Sold within the 8 day window.
- Experienced Real Estate Agents: Sellers need to work with trusted real estate agents during the selling process, which is why 72Sold launched a strategic partnership with Keller Williams to do just that. Sellers can browse reviews from agents’ past clients before selecting one to work with to sell their home.
- Easy Selling Process for Homes in Good Condition: Sellers with well-maintained properties in good condition should have no problem selling on 72Sold in a seller’s market.
- No Home Staging or Preparation: Sellers don’t need to spend time or money on staging and preparing their homes for sale. Simply upload photos and property information to 72Sold and never worry about scheduling showings or open houses.
72Sold touts itself as a real estate service that nets higher sale prices and a quick sale. However, there are several downsides to consider before selling on 72Sold.
- Commission Fees: 72Sold doesn’t offer any discounts in terms of real estate commissions. In fact, they charge the standard 5 to 6 percent that most real estate agents demand. The only real selling point for 72Sold is the possibility for a faster sale without having to prepare the home prior to selling.
- Misleading Advertising: The 72Sold name makes it sound like your home will be sold in 72 hours, when in reality they aim for 8 days or less. The “72” comes from the window in which the seller has the option to review and accept an offer. Additionally, sellers must be aware that the closing process can take an additional 60 days or longer with 72Sold.
- No Open Houses to Attract More Buyers: While hosting open houses can be inconvenient and time-consuming, they provide your listing with more exposure to potential buyers. This increased exposure may result in more buyer competition and a higher selling price that’s not possible with 72Sold.
- Not As Effective in Buyer’s Markets: Many 72Sold reviews point out that the platform is most effective in seller’s markets and may not produce great results in buyer’s markets.
- No Guaranteed Sale for Distressed Properties: Distressed properties aren’t guaranteed to sell in 8 days or less on 72Sold. In this case, distressed homeowners should look into finding a cash buyer or real estate wholesaler to get the selling process started.
Who is 72Sold Best For?
72Sold is a powerful home selling platform that can result in a faster sale and higher sale price for some sellers. However, the platform isn’t ideal for everyone. Let’s take a look at who should be using 72Sold.
Sellers with Desirable Homes
It’s no surprise that desirable homes sell faster and at higher price points, but this is especially the case on 72Sold. Homes located in desirable neighborhoods or properties with unique features have a strong chance of being sold in less than 8 days on 72Sold.
On the flip side, homes in need of major renovations or repairs may not do so well on 72Sold. It’s important to assess your home’s condition to decide if the platform is right for you before getting started.
Homes in Hot Markets
Hot real estate markets are often hard to come by, but if you find yourself in one, selling on 72Sold could be a great opportunity for a quick and profitable sale.
However, sellers should be mindful of current interest rates and economic trends before signing up on 72Sold to make sure now is a good time to sell.
Like we mentioned, 72Sold relies on Keller Williams real estate agents to manage their real estate transactions. This means that sellers must pay standard commissions and fees to these agents, including 2.5 to 3 percent to their agent and 2.5 to 3 percent of the home’s sale price to the buyer’s agent.
This fee structure is the reason many sellers choose to look elsewhere. Working with a discount real estate broker or cash buyer is the best way to save on fees, while for sale by owner (FSBO) listings are risky but also result in reduced real estate commissions.
Today’s sellers market is extremely advantageous to homeowners looking to benefit from home appreciation and competition among buyers. Simply put, now is the best time to sell your home.
But sellers have plenty of options when it comes to listing their property and choosing a method of conducting the sale. Many homeowners choose to work with a traditional real estate agent for the reasons discussed above, while others opt to sell their home to a cash buyer or real estate wholesaler off market.
72Sold is a platform that’s garnered a fair amount of attention since launching in 2018. However, we don’t recommend the platform for sellers in today’s market.
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