72Sold review: What it is and how it works
A lot of companies out there can help you sell your home quickly. But with iBuyers and cash-homebuying firms, that speed comes with a big downside: a lower sale price. The Arizona-based firm 72Sold, however, promises to sell your home within eight days — for more money, not less. We break down the process of selling with them, and how the company works, below.
What does 72Sold do?
Headquartered in Scottsdale, Arizona, 72Sold is a real estate company with a network of affiliated agents throughout the country. It was founded in 2018 by attorney and real estate broker Greg Hague. It has since earned a ranking on the Inc. 5000 list and inked a partnership with the brokerage Keller Williams, allowing its agents to use the 72Sold program.
The program stands out from other ways of selling a home in that it promises a sale within eight days of listing. This limited window of time is meant to create urgency and demand from prospective buyers, hopefully resulting in multiple and higher offers. According to the company’s website, 72Sold clients sell for prices that average 7.8 percent higher than other homes sold via their local MLS.
However, the program is not free: It charges fees that average between 5 and 6 percent of the home’s sale price, similar to a traditional sale’s real estate agent commission fees. And it’s not clear on the website exactly where the program is available.
(The name apparently refers to the company’s former business model, in which it placed homes on the market for just 72 hours. That time frame is now eight days for homes priced under $1.5 million. For higher-priced homes, the window is much longer.)
How does 72Sold work?
The process of selling your home through 72Sold nearly mirrors the traditional approach of working with a typical listing agent. A licensed agent lists your property on the MLS, marketing and showing it to prospective buyers. The difference is that your home will only be marketed and shown over an eight-day period (any eight-day period you choose). With a conventional listing, the home would remain on the market for as long as it takes to sell — the median length of time homes spent on the market was 33 days in March 2024, according to the National Association of Realtors.
The company can work with homes of just about any value, from $100,000 to over $10 million. But for homes priced higher than $1.5 million, the showing period increases significantly: 29 days, rather than the much-touted eight days for less expensive properties.
How does 72Sold make money, then? As is true with most types of sales, it’s not free to sell your home with them. The company charges a fee of 5 to 6 percent of the closing price. So its touted stat of selling for an average of 7.8 percent more actually nets out to an average of about 2 percent more.
The steps involved when you choose 72Sold are fairly straightforward:
- On the website, enter your address and phone number and provide some details about your home’s condition and when you’d like to list. The company may call you to ask more questions.
- A representative from the company will conduct a 15-minute walk-through. (It’s not clear on the website whether this takes place in person or via an online platform.) After the walk-through, they will give you a sale price for your home.
- You do not have to accept their price if you’re not happy with it (though it’s not clear whether it’s open to negotiation). But if you choose to go through with the sale, 72Sold begins promoting your listing and showing your home.
- Field and evaluate offers to choose a buyer.
- Pick a date for your closing, as well as a date you plan to vacate your home and close on the sale.
Is 72Sold worth it?
Selling with 72Sold might be a good option, if your home is in good condition and located in a desirable market. The company’s major promises of selling your home in eight days or less, at a higher price than average, are certainly appealing.
But none of this appears to be guaranteed — in fact, there’s not much transparency on the company’s website. Price margins cited are different in different spots on the site, sometimes stating 7.8 percent higher than other homes, other times 7.8 percent to 12 percent, and yet other times 8.4 percent to 12 percent. And “higher than other homes sold on their local MLS” is very vague; there’s no mention of whether the other houses are comparable in size, location or condition.
In addition, there’s no mention anywhere of whether sellers will be charged closing costs or service fees in addition to agent commissions. Nor of what happens if your home fails to sell within eight days at the agreed-upon price. So do your homework, ask questions and proceed with caution.
72Sold alternatives
There are many ways to sell your home. If you’re not sure whether 72Sold is right for you, consider these alternatives:
- Traditional sale: Partner with a local real estate agent. Agents know their local markets well and can market your home in a way that’s specifically tailored to your area.
- FSBO: Sell without agent representation in a for sale by owner transaction. This avoids the need to pay a listing agent’s commission — but be warned that it’s a lot of work.
- Homebuying companies: Sell to a “we buy houses” business or iBuyer. These companies make quick cash offers and can close lightning-fast as well. But they are unlikely to pay full market value for your home.
Next steps
If you’d like to work with 72Sold, the next step is simply to input your information online. If you’re not sure, you might be better off contacting a local real estate agent or reaching out to cash-homebuying outfits in your area to see what they’re willing to offer for your home.
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