72SOLD Review (2024): Should You Use This Real Estate Broker?

Picture this: you’ve just wrapped up a house-flipping renovation project. Although that’s undoubtedly a win, you can’t celebrate much. With your lender expecting repayment and contractors awaiting their paychecks, the pressure to sell is truly on.

As you navigate buyers' lists and listing websites, 72SOLD catches your eye; they’re boldly guaranteeing you to sell your property in eight or fewer days. This prospect is undoubtedly intriguing as a house flipper or property seller in a time crunch. But is 72SOLD legitimate? Do 72SOLD reviews paint a positive picture? What is 72SOLD? If you’ve just discovered the company and have questions, check out our comprehensive 72SOLD review to determine if they’re worth the shot.

• What Is 72SOLD?
• How Does 72SOLD Work?
• 72SOLD Fees, Costs & Commissions
• Is 72SOLD A Scam?
• 72SOLD Reviews From Customers
• 72SOLD Pros & Cons
• 72SOLD Competitors & Alternatives
• Where Is 72SOLD Available?
• How Do You Contact 72SOLD?
• 72SOLD Review: Final Thoughts

What Is 72SOLD?

72SOLD is a nationwide home-selling program and Real Estate Company based in Scottsdale, Arizona. Through the 72SOLD program, the company promises to list and sell homes within and outside Arizona in eight days or less using a unique, auction-like selling process.

Founded in 2018 by well-known Arizona-based realtor and investor Greg Hague, 72Sold mainly operates in 38 markets across America. However, it partners with the Keller Williams brokerage, enabling its network of affiliated real estate agents to facilitate property sales countrywide.

The company partners with prominent sports teams, including the Arizona Cardinals and Arizona Diamondbacks. In 2023, its founder partnered with BoxBrownie to empower 72SOLD and users to create CGI-enhanced images for real estate marketing.

Despite these partnerships, one can’t help but wonder if is 72Sold legit? We’ll cover more on that later, but note that beyond 72SOLD, Greg Hague also owns several other real estate-related ventures. These include Hague Partner, a renowned real estate brokerage and the parent company of 72SOLD, a REI coaching company called Real Estate Mavericks, and WHY USA, another controversial home-selling program he franchised.

Read Also: How To Find Off-Market Properties: The 10 Best Ways

How Does 72SOLD Work?

72SOLD employs an auction-like approach to selling properties. Here’s a step–by–step breakdown of their selling process:

• Seller sign-up: Interested home sellers must first sign up on the official website to begin the selling process. In addition to email and home addresses, they must input basic property details, such as square footage and photos, to initiate the sale.
• Online property valuation: The company requests and conducts a 15-minute walkthrough tour to assess the property’s condition. Utilizing data from this tour, seller-submitted details, comparable homes, and market data, 72SOLD generates and offers the seller a home value estimate.
• Physical property valuation and home staging: 72SOLD sends a listing agent to conduct a free physical property valuation for accuracy. 72SOLD also uses this visit to address sellers’ concerns and allow them to set terms they may have, for instance, their expected closing and move-out dates, as well as how much they were anticipating. In addition to the consultation, 72SOLD offers professional home staging to enhance listing quality, fueling buyer interest.
• Marketing campaign: With the seller’s approval, 72SOLD, alongside its agent network, launches a 7-day marketing campaign on social media and all avenues possible to generate buzz about the property. Unlike in traditional sales, a 72SOLD property is usually advertised as “COMING SOON” to create a sense of excitement, curiosity, and interest among potential buyers.
• The 72-Hour Weekend Sale: After 7-days of buzz building, 72SOLD finally begins the sale process. The sale starts on a Saturday, with limited showings strategically scheduled 15 minutes apart. With buyers bumping into each other on their way in or out, 72SOLD’s time-limited showings help strengthen buyer demand and increase the likelihood of competitive offers. Offers are submitted on Sunday, reviewed by 72SOLD agents, and the cream of the crop is presented to sellers on Monday.
• Offer acceptance: 72SOLD sellers can choose to accept or reject offers. If accepted, a 72SOLD agent facilitates the sale. If a seller chooses not to go through, they can pull down their listing without obligation or fees.

In essence, the 72SOLD strategy involves 7-days of aggressive marketing to build demand for properties on sale, followed by a 3-day, auction-like sale process to find suitable property buyers. According to the company’s founder, this strategy was inspired by Apple’s marketing strategy, whereby the tech giant uses high-powered campaigns to market and build demand for products that are not yet available for purchase.

As with traditional sales, 72SOLD property sellers can also request to remain on their property for up to 60 days. Should a homeowner need longer than that, 72SOLD can market the property to lease-back companies, allowing them to remain and pay rent on their property for up to six months.

Although it’s an innovative strategy, it’s important to note that the company was established in a seller’s market. With inventory tight and demand high, it was pretty effective. But with the current market where things have softened, this strategy may not be as effective.

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72SOLD Fees, Costs & Commissions

For a company committed to speeding up the traditional property sale, 72SOLD is pretty competitive. The company follows the standard 5-6% realtor fee, whereby 2-3% goes to the selling agent, while the other 2-3 is allocated to the buyer’s real estate broker. While there are reports of a 1% service fee, the details are somewhat unclear. Therefore, we recommend consulting one of the company’s numerous agents for precise information on the service fee.

According to the available information on their website, 72SOLD gets sellers a higher price, usually about 8.4%-12% higher than when selling the traditional way. But again, it’s crucial to remember the company began operations in a significantly different housing market.

Is 72SOLD A Scam?

Rest assured, 72SOLD is a legitimate company with physical offices in Doubletree Ranch, Scottsdale, Arizona, and about 180 employees. The company opened its doors in 2018 and, as noted, was established by the renowned real estate investor Greg Hague.

Recognizing the importance of generating demand and anticipation in the real estate market, Hague founded 72SOLD to streamline and expedite the convention sale process for the average real estate consumer.

The company’s legitimacy is further reinforced by its partnerships with well-established institutions like the Keller Williams brokerage and the Arizona Diamondback sports team. Additionally, the real estate company actively operates in 38 states and has recently been recognized as one of the fastest-growing private companies in the real estate sector.

In summary, 72SOLD is a legitimate and well-recognized company. However, it’s crucial to acknowledge that while their selling approach has notable perks, it may not work in buyer markets.

72SOLD Reviews From Customers

Although customer reviews serve as valuable indicators of a business’s quality in the digital world, it’s important to exercise caution, especially when using them to gauge a company as controversial as 72SOLD.

The company is well-rated and reviewed across multiple platforms. For instance, it boasts a 4.9 out of five-star rating on Google and has over 2000 reviews across Google, the Better Business Bureau, and Yelp. Sounds promising, right? Unfortunately, our research suggests a different perspective.

We discovered a significant portion of 72SOLD Google reviews are from the company’s network of affiliate agents, leaving us with questions about possible bias.

However, the few positive 72SOLD.com reviews we could identify from actual clients paint a picture of excellent customer service, speedy closings, excellent marketing, and higher listing prices.

On the other hand, the negative testimonials seem more organic and imply concerns such as:

• False advertising: Some clients expressed disappointment with 72SOLD failing to deliver its promise of closing within eight days.
• Poor marketing: Some 72SOLD complaints reported a lack of offers and agents recommending a lower sale price as the only remedy
• Coercion: There were allegations of coercion, with some reviews claiming that agents pressured them to retract negative reviews.

In a nutshell, while customer reviews are essential, it’s crucial to scrutinize their sources, particularly if you’re a real estate investor seeking to sell an investment property fast. Reviews on platforms like Google should be taken with a grain of salt because not only does the platform, not vet reviews, but also anyone can write one as long as they have a Google account. Unfortunately, most of 72SOLD’s high ratings and positive reviews originate from the platform.

72SOLD Pros & Cons

There’s no denying that 72SOLD presents a unique selling proposition and is a particularly fitting option for individual homeowners and real estate investors seeking a quick sale. However, it’s important to acknowledge that the effectiveness of this strategy may be limited to a seller’s market where options are usually scarce, driving the demand for available properties and creating urgency.

72SOLD Pros

Here’s a quick overview of perks you’ll enjoy when selling a property with 72SOLD:

• Speedy sales
• A hassle-free home selling process
• 72SOLD offers complimentary home staging, accelerating the sale while eliminating the effort that would otherwise be required for homeowners to prepare the property themselves.
• Sellers can request a 60-day extension before they move out, while individuals in need of longer stays can work with the company to extend their stays up to six months

72SOLD Cons

Here are some cons of selling with 72SOLD:

• Based on some 72SOLD reviews, the company doesn’t consistently deliver on its 8-day property sale promise
• Charges the standard 5-6% agent commission
• Distressed properties or properties requiring upgrades don’t get offers
• Properties are showcased to limited buyers, which results in limited offers that may not live up to the property’s true potential
• Sellers usually have only a day to accept offers

72SOLD Competitors & Alternatives

Here’s how 72SOLD stacks against real estate companies that employ out-of-the-grain business models in the real estate industry:

72SOLD vs. Cash Buyers

Cash buyers, as the phrase implies, buy properties instantly and mainly make cash offers. The majority of them also don’t require physical property valuations and will buy a property as is. Additionally, a property-selling transaction with a cash buyer doesn’t include real estate agents.

72SOLD, on the other hand, is like a conventional real estate company in that it will enlist a real estate agent to market, list your property, hold an open house, and compare offers from different buyers. The only difference between the company and regular REI companies is that it seeks to sell within eight days or less.

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72SOLD vs. eXp Realty

Like 72SOLD, eXp Realty is a virtual real estate company. Additionally, the company also leverages remote agents. However, eXp Realty distinguishes itself by being far more technologically advanced. One noteworthy tool in its arsenal is eXp Realty, a virtual work campus that facilitates interactions between home buyers and real estate agents as if in a physical setting.

In a nutshell, 72SOLD and eXp Realty are similar in that they are primarily virtual with expansive networks of remote agents. However, eXp Realty is like a full-service real estate brokerage, except it operates virtually, while 72SOLD is a real estate company aiming to revolutionize the sale process by condensing it to just eight days.

Read Also: Virtual Wholesaling Real Estate: A Step-By-Step Guide

72SOLD vs. Opendoor

Opendoor, based in San Francisco, operates as an iBuyer, meaning it buys and sells properties online. Like 72SOLD, the company uses technology and available market data to estimate property values online and an asking price. It then later resells these properties at a profit.

In contrast, 72SOLD adopts a different approach. It operates like a traditional real estate brokerage, except it uses an aggressive selling strategy.

That means, unlike Opendoor, 72SOLD doesn’t buy properties for its portfolio. Instead, it simply serves as the intermediary, facilitating transactions between buyers and sellers in as few as eight days.

Where Is 72SOLD Available?

72SOLD mainly operates in 38 US markets. The company is also actively available in Guam and some parts of Canada. Nonetheless, thanks to its partnership with the Keller Williams brokerage, the company’s network of affiliate agents can facilitate property sales nationwide.

This implies that whether you’re in the US or anywhere a Keller William agent operates, you can enlist them to help you sell your property through the 72SOLD home selling program.

How Do You Contact 72SOLD?

72SOLD offers no direct emails, but you can reach the company via calls, their official website, or by visiting their offices in Scottsdale. Here are the contact details:

• Phone number: (844) 990-7272
• Official website: 72sold.com
• Headquarters Address: 7333 E. Doubletree Ranch Road, Ste 100B, Scottsdale, AZ 85258

72SOLD Review: Final Thoughts

72SOLD is a legitimate real estate company, founded by the esteemed real estate investor, Greg Hague and affiliated with reputable institutions like the Keller Williams Brokerage. It employs aggressive marketing techniques and an auction-like sale process that allows buyers just a single day for property evaluation, and sellers only a day of settling an offer.

While this approach is particularly suited for investors aiming for a speedy turnover, such as wholesalers and house flippers, it’s crucial to acknowledge its limitations. A notable shortcoming is that it may not be as effective in buyer’s markets, which often dominate the real estate industry. Additionally, 72SOLD adheres to the standard 5-6% commissions, meaning you still incur the same costs as a seller who lists in the open market despite the limited exposure.

On the flip side, the company does offer an option allowing sellers to remain in their property for up to six months. This makes it a suitable option for individual homeowners who are reliant on sale proceeds for their next home.

So, should you use their services? If a fast sale or a lengthy post-sale transition period is your priority, 72SOLD is an excellent option. However, you should explore alternative options if you need to expose your property to a larger buyer pool while minimizing selling costs.