Is 72sold Legit and Safe? Here’s 72sold Reviews

If you’re looking to sell your home quickly, you might have heard of 72sold. This service is known for its fast home sales. But is it trustworthy and safe? Let’s look into 72sold reviews to see.

72sold is a real estate company started in 2018 in Scottsdale, Arizona. It aims to sell homes in just 8 days. Now, it operates in 38 U.S. markets, parts of Canada, and Guam. In 2022, it teamed up with Keller Williams to reach more people across the country.

Reviews of 72sold show mixed opinions. On Google, it has a 4.9-star average from 2,130 reviews. But on another site, it’s rated 2.4 based on 7 reviews. These reviews come from sellers and agents alike.

The 72sold program uses a 72-hour marketing period to create competition among buyers. They say this leads to higher sale prices, with sellers getting 2.5%-6.5% more than usual. But, it’s important to look at these claims skeptically.

When thinking about using 72sold for your sale, remember the real estate market is always changing. Recent changes could mean sellers save on commissions. In this shifting market, it’s key to carefully consider your choices.

What is 72sold and How Does It Work?

72sold is a platform that changes how we sell homes. It aims to sell your property in just 8 days, much faster than the usual 33 days. This is a big change from the traditional way of selling homes.

The 72sold Process Explained

The process starts with submitting your property and having an agent visit. Then, they estimate the price and plan a weekend sale strategy. This strategy creates competition among buyers during a 72-hour marketing period.

Key Features of 72sold’s Home Selling Program

72sold’s approach has some key features:

• A condensed timeline to foster urgency among buyers
• Concentrated showing periods to maximize interest
• Presenting the property’s price as a “starting” point to encourage higher offers
• Flexibility for sellers to initiate the 8-day program at their convenience

Coverage and Availability

72sold now covers 38 U.S. markets, parts of Canada, and Guam. They work with independent agents, offering them training and leads. This wide reach means more homeowners can use their unique marketing strategies.

The Promise of Selling Your Home in 8 Days

72SOLD’s real estate marketing strategy focuses on a quick home sale promise. They aim to sell your property in just 8 days. This starts with a 72-hour marketing blitz to create buzz and attract buyers.

During this time, 72SOLD works to get multiple offers, possibly raising the sale price. One seller got $40,000 over the asking price with over 20 interested buyers. The company says homes usually sell for 7-8% more than the local median price.

But, it’s key to remember that results can differ. Some sellers waited 60 days, not the promised 8. Others felt their homes sold for less, with a $17,000 loss below their minimum price.

The 8-day selling process includes:

• 72-hour marketing period
• Weekend property showings
• Offer submissions by Sunday
• Offer review on Monday

While 72SOLD’s method can work well in a seller’s market, the 8-day promise isn’t guaranteed. It’s an option, not a must, and might not work for high-value properties over $1.5 million.

72sold Reviews: What Customers Are Saying

Customer feedback is key to judging real estate services. 72sold customer reviews show a wide range of opinions. Let’s look at what home sellers think about this new real estate service.

Positive Feedback from Sellers

Many reviews talk about great results. One seller got $57,000 over their asking price. Another seller received $150,000 more than they expected. Customers also praised the fast sale process, with one home selling in just 90 minutes.

They liked the professional sales handling and the competition among buyers.

Criticisms and Complaints

Not every seller was happy. Some said the ads were misleading and marketing was poor. A few felt rushed during the process. It’s worth noting that many of the 2,000 5-star Google reviews are from real estate agents, not sellers.

Agent Reviews vs. Seller Reviews

It’s important to know the difference between agent and seller feedback. The company’s BBB page is mostly filled with agent reviews. 72sold has been criticized for not clearly showing these reviews apart. This mix makes it hard for potential clients to see real seller experiences.

• Over 2,000 5-star Google reviews claimed
• Mix of agent and seller reviews
• Positive experiences: quick sales, above-asking prices
• Negative feedback: marketing concerns, pressure tactics

Comparing 72sold to Traditional Real Estate Services

When you want to sell your home, you have choices. Real estate comparison highlights big differences between old and new ways, like 72sold. The 72sold program aims to sell your property in just 72 hours. This is much faster than traditional real estate services, which can take weeks or months.

Looking at traditional vs. 72sold shows big differences in how they sell homes. Traditional agents give personalized service and charge a 5-6% commission. 72sold also charges the same commission but focuses on speed and good prices.

72sold is very efficient, letting agents handle more sales. This might mean more money for agents. But, it could also mean less chance to negotiate with buyers. Traditional methods give more time for talks and a bigger selection for buyers.

72sold is known for fast sales and good offers, but results depend on the market and your property. Some sellers get offers over their asking price, while others feel the process is too fast. Traditional services might be slower but offer more flexibility and personal care during the sale.

Pricing and Fees: Understanding 72sold’s Commission Structure

When you’re selling your home, knowing the costs is key. 72sold’s fees are like traditional real estate commissions, usually 5% to 6% of the sale price. For a $500,000 home, that’s about $25,000 in fees.

Average Commissions and Closing Costs

72sold splits the commission fee equally between the seller’s and buyer’s agents. Each gets around 2.5% to 3% of the sale price. This is similar to what traditional brokers charge but more than discount brokers who charge 2% to 4%.

Even though 72sold’s fees might seem high, they say their marketing helps sell homes for more money. But, flat-fee MLS listing services and For Sale By Owner (FSBO) options can be cheaper ways to sell your home.

Potential Hidden Fees

72sold claims they don’t have hidden fees, just the commission. But, selling a home costs more than just agent fees. You’ll need to pay for closing costs, escrow fees, transfer costs, and insurance. You might also spend on repairs and staging to get your home ready for sale. Knowing all these costs is key for a clear understanding of selling your home.

• Commission: 5-6% of sale price
• Closing costs: Vary by location
• Home preparation: Repairs and staging

While 72sold’s fees are like traditional agents, look at different options to find what’s best for your needs and budget.

The Pros and Cons of Using 72sold

72sold offers a unique way to sell your home, with both good and bad points. Knowing these can help you see if this method fits your goals.

The 72sold benefits include a fast sale, usually in 8 days. They use a strong marketing plan to make buyers compete, which can lead to better offers. You only need to open your house for one weekend, making it easier than many showings.

However, there are downsides to 72sold too. You might not have much say in setting the price or showing your home. The short time frame could mean missing out on higher offers that come later. Some sellers also find the quality of agents and communication can be hit or miss.

When thinking about the pros and cons of 72sold for selling your home, consider these points:

• Fast sale vs. potential for higher offers with more time
• Competitive bidding vs. limited control over the process
• One-weekend showings vs. restricted buyer access
• Standard 5-6% commission plus potential 1% service fee

How well 72sold works depends on the market and your home. Some sellers get good prices, but others struggle with the process. Think about these factors to see if 72sold meets your selling goals.

Is 72sold’s Marketing Strategy Effective?

72sold’s real estate marketing is a standout in the industry. They focus on a quick home sale strategy with a 72-hour marketing period. This approach aims to boost home prices by creating competition among buyers.

The 72-Hour Marketing Period

The heart of 72sold’s strategy is their 72-hour marketing blitz. They promote your property aggressively during this short time. This creates urgency among potential buyers.

The aim is to spark intense interest and get multiple offers fast.

Creating Buyer Competition

72sold’s method to boost buyer competition is unique. They use a 90-minute showing window during their weekend sales event. This encourages buyers to act quickly.

This strategy can work well in hot markets, leading to bidding wars and higher sale prices. Some sellers get 8.4%-12% more than traditional methods. But in slower markets, it might limit potential buyers who need more time to decide.

While 72sold’s approach is unique, it’s not for everyone. Sellers should consider the pros and cons of this fast-paced method against their specific needs and market conditions.

72sold’s Claims of Higher Sale Prices: Fact or Fiction?

72sold claims they can help you sell your home for more money. They say seven studies show their sellers get 8.4%-12% higher prices than those listed on local MLS. This sounds great for homeowners wanting to boost their property’s value.

But, comparing home values is tricky. The studies 72sold mentions aren’t open for public review. This makes it hard to check if their claims are true. Things like the home’s size, age, and condition also play a big role in its sale price.

72sold says they can sell homes fast and for a bit more than the local average. But, some customers say it takes longer, around 60 days. They also mention missing out on higher offers because of their pricing strategy. The company’s high Google rating comes mainly from agents, which might not show the full seller experience.

So, while 72sold’s promises are tempting, it’s hard to prove them on your own. If you’re thinking about their service, consider their lower commission and the fact that property viewings might be limited. Remember, the outcome in real estate varies a lot due to many factors.

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