72Sold is a company that claims it allows US homeowners to sell a home fast, typically within any 8-day period, for more than if they used discount real estate brokers and sold the traditional way. Selling a house with 72Sold is very possible, but surely there’s a catch?
Exactly what are 72Sold fees and how much commission do they charge? Here’s a look at 72Sold fees and commission.
72Sold Commission Structure
72sold is a full service real estate broker that promises to sell your home fast, within 72 hours in fact. The entire process should take 8 days in total, which means that you could allegedly have your home sale done and dusted in a little over one week.
So, what’s the catch? Well, it’s only a small one, but it does boil down to 72Sold commission. The company charges 5 – 6% real estate commission, which while competitive, it does mean that you may pay slightly more in commission, than if you opted for a flat fee REALTOR instead.
The commission is broken down equally between the buyer’s agent and the listing agent. This means that both parties take 2.5 – 3%.
How Does This Compare with Traditional Agents
The 72Sold fees and commission that they take are very similar to regular real estate brokers and agents.
Some argue in fact, that 72Sold could be marginally cheaper as everything is included in the price. With traditional brokers, there may be hidden fees such as marketing costs etc. With 72Sold, what you see is what you get.
How Does This Compare with Flat Fee Agents?
Like we touched upon before, the commission that 72Sold charges per sale is comparable to what you might expect to pay to flat fee real estate brokers. The difference here is that they charge one single fixed rate fee, instead of commission based upon how much your house sells for.
The good thing is that many flat fee REALTORs such as azflatfee.com, have a stellar reputation when it comes to Arizona house sales. They serve the entire state of Arizona for a fixed charge, rather than a percentage of the sale.
Hidden Fees and Considerations
When selling your house fast, despite the fact that you need a quick sale, you still need to ensure you get the best price possible.
Regardless of which agent you happen to use, there are still closing fees to consider, so you will need to factor these into what you can expect to walk away with once the sale has closed. Things such as mortgage underwriting, agent fees, real estate broker commission, taxes, record filing, and insurance, are all potential closing fees you’ll have to pay.
While 72Sold commission is very reasonable, because of their expedited selling process, they can’t guarantee that you get the best possible price in just 72 hours. You may also want to check out 72sold customer reviews in independent platforms such as google or yelp.
72Sold Alternatives
While 72Sold are indeed a legit business who charge very reasonable and competitive rates of commission, there are still discount real estate brokers out there who charge lower rates of commission.
When selling your house fast, you still need to get the best rates possible, which is why it’s so important to shop around. Look at your own individual needs and priorities and see which companies and brokers best meet your criteria.
Flat fee REALTORs such as azflatfee.com for example, offer a great alternative as you simply pay a fixed rate charge, so essentially, what you see is what you get. For some, this method of selling is more suitable than a commission-based model.
How Much Does 72Sold Charge to Sell My House?
72Sold charge a commission of between 5 – 6% split equally between the seller’s agent and the buyer’s agent. That means that, based on a 5% commission, if your home sold for $500,000, you’d pay $25,000 in commission.
Is 72Sold Commission Cheaper than a Traditional Agent?
72Sold’s commission is generally not considered cheaper than a traditional agent. The average commission a broker charges is 5 – 6%, which is exactly what 72Sold are charging.
What are the Hidden Fees with 72Sold?
There are no hidden fees associated with selling a house with 72Sold. The seller’s only expenses come from the commission.
How Does 72Sold Commission Compare to Other Discount Brokers?
Discount real estate brokers charge less commission. Usually this is between 2% and 4% depending on which company you choose. Just be aware however, that there are also usually hidden fees to factor into the equation. 72Sold charge a higher commission, but there are no hidden fees to attend with.
