72SOLD Reviews: How Does Its Home-Selling Program Work?

What are the potential benefits of using 72SOLD?

When this selling strategy works, the benefits can be many. Here’s a look at the fruits of a successful 72SOLD sale:

• Higher proceeds: 72SOLD advertises that their program has enabled thousands of home sellers in multiple cities to average 7.8% higher sale prices than other homes sold in their area through traditional methods.
• Better listing reputation: In addition, 72SOLD points out that identifying qualified buyers quickly helps your home avoid the stigma of sitting on the market unsold for weeks or months, causing potential buyers to think there may be something wrong with the property or that it’s overpriced.
• Increased privacy: With its program, 72SOLD says you don’t even need to place a for-sale sign in your yard, adding additional privacy to your home sale and reinforcing the “fresh listing” vibe that can help your home sell for a higher price.
• Shorter showing period: Because of its streamlined selling approach, 72SOLD’s program can help sellers avoid the hassles of showing their homes to strangers week after week.
• Better negotiation starting point: Another part of 72SOLD’s strategy is to price your home at full market value but present that price to potential buyers as the property’s “starting” price. This tactic is designed to steer negotiated offers up from there rather than the traditional asking or “list price” strategy that many buyers interpret as a “hoped-for” price meant to be whittled down.
• Elevated competition: 72SOLD says this powerful combination of laser-targeted marketing and strategic listing and pricing techniques validates your home’s popularity by telling buyers about other buyers, creating greater competition.
• Faster selling speed: 72SOLD says its program will allow you to receive the highest offers from the best buyers in 8 days.
• More seller control: The selling method created by 72SOLD can give sellers more control of their transactions, which includes greater autonomy over when to sell and when to close. You can initiate your 8-day program whenever you choose.

What are the potential drawbacks of using 72SOLD?

While the 72SOLD approach offers several enticing benefits, there are some potential drawbacks that home sellers should consider before opting for this method. Here’s a look at the challenges that may arise during a 72SOLD sale:

• Limited buyer pool: The concentrated showing period can mean fewer potential buyers are aware of your home being on the market, which could limit the overall demand compared to a traditional, longer-term listing.
• Pressure to decide quickly: With offers expected to be reviewed shortly after the single weekend of showings, sellers might feel pressured to make quick decisions without sufficient time to weigh all options or negotiate the best terms.
• Risk of underpricing: Although 72SOLD encourages starting the price at full market value, the strategy to use it as a “starting price” can sometimes backfire if the bidding does not reach the anticipated levels, potentially resulting in lower final sale prices.
• Dependency on market conditions: The success of the 72SOLD method heavily relies on current market dynamics. In a slower or buyer’s market, the strategy may not generate the same level of urgency or high offers.
• Closing timeline might not be ideal for some: While you might receive offers quickly, the actual closing process with 72SOLD can still take the usual 47-60 days typical of financed purchases. This timeframe might not be suitable for sellers who need to access the proceeds of their sale immediately or who are looking to relocate quickly.
• Potential for added stress: The hype and rush created to elicit higher offers within a short window might increase stress for sellers, who have to ensure their home is in peak condition for the showings and then deal with a potentially overwhelming response at once.
• Limited geographical availability: 72SOLD is not available in all areas. This restriction means that some sellers simply won’t have access to the program, depending on where their property is located.

These considerations are important for homeowners who need not just quick offers but also a fast and assured closing.

Alternatives like HomeLight’s Simple Sale platform might better serve those needing to bypass the conventional market delays, offering cash deals that can close in as little as 10 days. This option could be particularly appealing for those who face urgent selling timelines or prefer a more straightforward, prompt sale process.

Does 72SOLD serve your area?

According to the company, 72SOLD’s service area is continually expanding. Initially founded in Scottsdale, Arizona, the platform has grown to accommodate sellers in numerous cities across the country. However, its availability is not universal.

In past marketing materials, the company promoted that it had affiliate partners in 38 U.S. markets. Current service location details are not prominently featured on its website. However, 72SOLD says its program can enable “any home seller in America” to sell in 8 days, implying that it strives to be a nationwide service.

Interested sellers can visit 72sold.com and enter their property address or contact a customer service representative to confirm whether the 72SOLD program is available in their area.

What is the cost of using 72SOLD?

72SOLD markets itself on transparency and often compares favorably with traditional real estate agent commissions. Its service fees at closing are similar to what you might expect if you sold your home the traditional way, averaging 5%–6% of the closing price. The company does not charge extra for its 8-day bidding process.

For example, if you sold your home through the 72SOLD program for $450,000, the fee would range from $22,500 to $27,000. However, the company points out that successful sellers average 7.8 higher prices than other homes sold in the MLS, allowing their clients to take home an average of 2% more net proceeds than if they sold a property with no Realtor fees. This can vary depending on the condition and saleability of your home.

72SOLD reviews

When considering 72SOLD as your home-selling platform, it’s beneficial to look at the experiences of past users. Reviews can provide insights into the real-world effectiveness of the 72SOLD method:

• Positive feedback: Many users have praised the process for its efficiency and the higher prices achieved. Success stories often highlight quick sales above the asking price, thanks to the intense bidding wars generated by the limited showing schedule.
• Criticisms and concerns: However, not all reviews are glowing. Some sellers have noted that the quick decision timeframe can be stressful and may not always result in the best financial outcome, especially if the market doesn’t support the anticipated bidding frenzy.
• Mixed results depending on location: The effectiveness of the 72SOLD method also appears to vary by location, with some markets responding better to the urgency of the sales method than others.

Review platforms and real estate forums are good resources for prospective sellers to gather diverse feedback and weigh the consistency of positive versus negative experiences. Here are a few websites where you can read 72SOLD customer reviews:

• Better Business Bureau: 72SOLD has a 5-star rating based on 125 customer reviews. The company maintains an A+ BBB score and has been accredited since October 2019. 72SOLD customer service representatives promptly respond to BBB complaints. Posted complaints on BBB.org are from real estate agents who were not satisfied with 72SOLD’s lead generation program. In the same vein, many of the positive review comments on the site are from agents who are happy with the lead program.
• Google Reviews: 72SOLD has a 5-star rating based on an impressive 2,165 customer reviews. Very few real estate companies have such a high number of Google reviews that average to a 5-star rating.
• Company customer review page: 72SOLD also maintains a testimonial page where you can read customer reviews and feedback.

Alternatives to 72SOLD

For sellers looking for different approaches or who may find that 72SOLD doesn’t suit their needs, there are several alternatives to consider:

• HomeLight’s Simple Sale platform: The Simple Sale platform offers a direct route to selling your home by connecting sellers to a large network of pre-qualified trusted cash buyers. It’s an excellent option for those needing to close quickly, often within 10 days, without the need for home showings, property preparation, or buyer financing delays.
• Traditional real estate agents: For those who prefer a conventional route, working with a top real estate agent can provide a more personalized selling experience, with professional guidance on pricing, marketing, and negotiations over a potentially longer selling period. HomeLight can connect you to the highest-rated agents in your market who sell homes faster and for more proceeds than average agents.
• iBuyer platforms: Companies like Opendoor and Offerpad provide an instant offer based on market data and algorithms, allowing for quick sales, often within a few weeks. This option suits sellers with homes in good condition who are looking for a predictable, straightforward selling process. IBuyers tend to pay more for homes than investor groups.
• “We buy houses” companies: For homes that need work, you can sell your house as-is to any number of house-buying companies or real estate investors who flip homes. This cash-offer route allows you to skip repairs and move on quickly. However, this option will likely mean you receive an offer below market price. But for some, the speed and convenience can’t be beat.
• FSBO (For Sale By Owner): Sellers who prefer to take control of the entire process may choose to sell their home independently. This method eliminates the need for a seller’s agent, potentially saving on commission costs, though it requires much more involvement and effort from the seller.

Each of these alternatives has its unique set of benefits and limitations, and what works best will depend on the seller’s specific circumstances, immediate needs, market conditions, and personal preferences.

How does HomeLight Simple Sale work?

Simple Sale is an all-cash offer platform created by HomeLight that takes the stress and uncertainty out of selling your home. Our online platform connects you with the largest network of trusted cash buyers in the country.

With Simple Sale, you’ll receive a no-obligation cash offer within 24 hours. Our platform also compares your cash offer amount with an estimation of what you might receive if you decide to list your home on the market instead.

Here is the easy 3-step Simple Sale process:

As an added value, Simple Sale also recommends top-rated real estate agents in your area based on transaction data and customer reviews. You’ll know which agents sell the most homes in your city and price range, empowering you to make a more informed decision.

HomeLight’s Simple Sale platform can provide cash offers for homes nearly anywhere in the U.S. and in almost any condition. You can close your sale in as little as 10 days.

Is the 72SOLD right for you?

Deciding whether 72SOLD is the right choice for selling your home depends on several factors. If you are looking for a fast offer process, potentially higher sale prices due to competitive bidding, and a streamlined selling period, 72SOLD might be a good option for you.

However, success with 72SOLD can heavily depend on the state of your local housing market and the saleability of your home. Plus, in most cases, you’ll still need to wait the usual 6-8 weeks to actually close the sale. You also need to consider the service’s local availability and fees.

Evaluate your priorities — are you seeking speed in receiving offers, or do you need to close quickly for financial or personal reasons? If immediate closing is crucial, exploring alternatives like HomeLight’s Simple Sale might better suit your needs.

Header Image Source: (ucpage / Deposit Photos)