The real estate market has been through a significant transformation in recent years, with more companies emerging that promise to make home buying and selling faster, easier, and more profitable.
One such company is 72SOLD, a company that has garnered attention with its claim of selling homes in just 72 hours or within eight days. With aggressive marketing campaigns, TV commercials, and a growing presence online, many people are asking the question: Is 72Sold legitimate?
In this article, we will provide a detailed analysis of the 72SOLD business model, discuss whether or not it’s a legitimate service, and offer insights based on user experiences and market trends. We’ll also tackle some of the common questions potential clients may have about the company.
What is 72SOLD?
72SOLD is a real estate company founded by Greg Hague, a real estate veteran known for innovative selling strategies. The company markets itself with a unique home-selling proposition: they aim to sell homes faster than traditional methods by creating urgency in buyers. The core promise is that homes can be sold within 72 hours or, at most, eight days, using their customized approach that differs from traditional open-house and listing methods.
72SOLD offers sellers an alternative to listing their homes with traditional agents by creating competitive bidding scenarios. The company has gained popularity, especially in Arizona, and has spread its services nationwide. The big question remains: Is 72SOLD legitimate?
How Does 72SOLD Work?
To understand whether or not 72SOLD is legitimate, it is essential to grasp how the system works. 72SOLD operates by generating significant interest in a property through targeted marketing and streamlined processes designed to create competition among buyers. Here’s a step-by-step breakdown of their process:
- Initial Consultation: Homeowners begin by scheduling a consultation with a 72SOLD representative, often a licensed real estate agent, to evaluate their property.
- Pre-Market Strategy: 72SOLD emphasizes strong marketing prior to listing the home publicly. The idea is to create a sense of scarcity and urgency, leading to higher demand.
- Buyer Competition: Interested buyers are brought in during a specific time frame, often over a weekend. 72SOLD’s goal is to have multiple buyers competing for the property, ideally pushing the price up.
- Offer Acceptance: Rather than a traditional drawn-out listing process, 72SOLD encourages sellers to accept offers quickly, often in a bidding war-like scenario.
This method contrasts with the typical real estate model where homes can stay on the market for weeks or even months. But, does it work as effectively as they claim?
Analyzing the Legitimacy of 72SOLD
To determine is 72SOLD legitimate, let’s break down the model’s effectiveness and the experiences of past clients.
1. The Speed of Sale
The promise of selling a home within 72 hours is a bold one. In reality, the timeline for the sale to close is typically longer. The 72-hour mark refers to receiving offers, but closing on the property can take several weeks depending on factors such as the buyer’s financing and other legal formalities. So, while 72SOLD often generates offers quickly, the actual process of completing the sale is still subject to standard real estate practices.
2. Marketing Prowess
72SOLD leverages high-powered marketing to attract buyers. This marketing strategy is similar to traditional agents who invest in ads, online listings, and social media to attract buyers. However, 72SOLD’s marketing is intense, often creating the sense of urgency required to push interested buyers to act quickly. This aggressive marketing, combined with the structured timeline, makes it an effective selling tool.
Many satisfied clients have noted that 72SOLD’s marketing machine truly does help in driving interest, especially in hot markets where buyers may be competing for limited inventory.
3. The Use of Local Agents
A key to answering the question is 72SOLD legitimate is understanding who actually represents you during the process. While 72SOLD presents itself as a singular company, they work with licensed real estate agents across the country. These agents are often independent or part of larger brokerage firms that are contracted by 72SOLD to implement their sales strategy.
This means that homeowners are still working with qualified real estate professionals who are bound by the same regulations and standards as any other real estate transaction. 72SOLD simply gives these agents a distinct method and branding to use.
4. Pricing Concerns
Some critics have raised concerns about the potential for underpricing homes due to the rapid selling timeline. The idea is that in order to generate quick offers, homes may be priced slightly below market value to entice buyers.
While this could potentially happen, many users have reported that their homes sold for competitive or even above-market prices due to the competitive bidding environment that 72SOLD’s model creates. However, as with any real estate transaction, it’s crucial for sellers to have an independent assessment of their property’s value before committing to any offers.
5. Legal Safeguards and Transparency
In determining whether 72SOLD is legitimate, it’s important to note that 72SOLD adheres to legal requirements in real estate transactions, including disclosures and contracts. The company provides clear agreements and follows the same laws and regulations that govern other real estate transactions. Sellers are encouraged to review all documents with an attorney or real estate professional, ensuring transparency throughout the process.
Success Stories and Customer Reviews
Many homeowners have found success with 72SOLD, especially in competitive markets where inventory is low. Customer reviews often highlight the speed of receiving offers and the ease of the process compared to traditional real estate sales.
That said, not every transaction is perfect, and some clients have mentioned issues such as feeling rushed into accepting offers or not receiving as many bids as expected. It’s also important to understand that while 72SOLD generates interest quickly, it doesn’t guarantee that the home will sell at a price above market value.
Is 72SOLD a Scam?
The answer is no—72SOLD is legitimate. It is a registered and regulated real estate service that partners with licensed agents across the country. The company’s approach to selling homes within a short time frame is simply a strategic variation on traditional real estate marketing, focusing heavily on competitive buyer interest and fast transactions.
While the company’s methods are unconventional, they are not a scam. Many customers have experienced success using 72SOLD’s model, particularly in markets with high demand. However, as with any real estate transaction, sellers should ensure they fully understand the process, including any risks, and review offers carefully before committing.
Pros and Cons of Using 72SOLD
Pros
- Fast offers: Homes are often marketed and receive offers within a few days.
- Aggressive marketing: 72SOLD puts significant effort into driving buyer interest.
- Licensed agents: Sellers still work with licensed real estate agents, ensuring professionalism.
- Competitive environment: The model creates buyer competition, which can lead to higher offers.
Cons
- May feel rushed: Some sellers may feel pressured to accept offers quickly without considering all options.
- Not guaranteed to sell above market value: Despite the competitive nature of the bidding, homes do not always sell for more than their market value.
- Traditional real estate timelines still apply: Closing processes, inspections, and appraisals still follow standard timelines.
FAQs About 72SOLD
1. Does 72SOLD really sell homes in 72 hours? 72SOLD’s 72-hour promise refers to the time it takes to generate offers, not the full closing process. The actual sale of a home, including closing, can take weeks.
2. Is 72SOLD available nationwide? Yes, 72SOLD partners with real estate agents across the U.S. to offer their services in most major markets.
3. Do I still need to pay real estate commissions with 72SOLD? Yes, while 72SOLD markets itself differently, you are still working with real estate agents, and standard commissions apply.
4. How does 72SOLD compare to traditional real estate agents? 72SOLD’s approach is faster and more marketing-focused than traditional methods. While traditional agents may take longer to market and sell your home, 72SOLD aims for a faster turnaround by creating buyer urgency.
5. Can I use 72SOLD if I already have a real estate agent? If you are currently under contract with another agent, you may not be able to use 72SOLD’s services until your contract ends. Consult with your current agent for more information.
Conclusion: Is 72SOLD Legitimate?
In conclusion, 72SOLD is legitimate. It offers a unique and accelerated approach to selling homes, particularly in competitive markets. However, sellers should approach the process with a clear understanding of how the system works and review all offers carefully.
While 72SOLD may be a great option for homeowners looking for a quick sale, it’s always a good idea to compare it with traditional methods to ensure it aligns with your specific needs and goals.
