72SOLD helps sell homes in 8 days through buyer competition but may have limited exposure. Houzeo offers a flat-fee MLS listing, providing wider exposure at a lower cost.
Table of Contents
What Is 72SOLD?
Overview:
72SOLD is real estate service 2018 by Greg Hague. Their aim is to sell homes fast by using the competition between buyers.
Goal:
The central target is to sell your house within less than 8 days. As buyers compete for your property, they end up driving the price up.
How It Works:
It begins with the listing of the house and providing property information on the 72SOLD website. The home is then marketed by a trained agent for 72 hours, in which buyers are scheduled to see the property within a 90-minute window. All this is set up to produce a signed contract in 7 to 8 days.
What Is Houzeo?
Overview:
Houzeo is an application allowing homeowners to list their properties in the MLS at a fixed fee. This negates the use of traditional agents and costly commissions. The homeowner would garner exposure to a large following while saving on agent fees simultaneously.
Goal:
Houzeo is an affordable, transparent way to sell a home. It provides an affordable listing for a flat fee, and still, enjoys all the benefits of MLS visibility. This allows a homeowner to get most of the sale price while at the same time giving them the flexibility to handle it on their own terms.
How It Works:
Listing their home on the MLS costs one-time when sellers do so, giving their property broad exposure to potential buyers. It also allows quite a range of tools for homeowners in taking care of the sale.
They can negotiate directly with the buyers without an intermediary. By doing the negotiations themselves, they can save on their commission fees but still reach a wide pool of buyers.
72SOLD vs. Houzeo: A Comparison Of Services:
Marketing And Exposure:
72SOLD:
72SOLD conducts a very focused marketing campaign that lasts for only 72 hours. In the end, it provides 90 minutes to inspect the property for people who may have an interest in purchasing it.
Such a strategy pushes the buyers toward a decision by creating an aggressive time constraint before the sale opportunity expires. This approach is not always productive, especially in slow markets or non-predictable markets.
Houzeo:
On the other hand, Houzeo provides a MLS listing flat fee. This way, via MLS listings, it will reach many more people, and property exposure shall last longer, increasing the prospect of selling to a serious buyer. This is much more flexible and far-reaching than the 72SOLD’s limited-time showings.
Timeframe:
72SOLD:
72SOLD aims to close the sale within 8 days. The system relies on creating a competitive environment to secure fast offers. However, this timeframe may not always be achievable, as the success of the strategy depends heavily on the market’s demand and buyer activity at any given time.
Houzeo:
There is no timeline in which the sale should be completed with Houzeo. Hence, sellers can continue to list their property and sell it when they get the best possible deal. The freedom from time constraints gives liberty to amend listing or pricing over time.
Cost Structure And Commissions:
72SOLD:
At 72SOLD, commissions are negotiable with the agent but will be dependent on whatever the seller is comfortable paying.
Although they do offer some flexibility, prices could be greater than what Houzeo offers with its flat-fee options. Marketing fees at 72SOLD are split with the buyers, so the seller might not avoid higher commissions compared to the standard spread from flat-fee services.
Houzeo:
With Houzeo, a seller only pays on a flat rate basis for a one-time-only fee to place their property in the MLS. There are no agent commissions and no hidden cost; that makes this much cheaper than trying to keep expenses low with MLS exposure while still benefiting from services like 72SOLD, which primarily focuses on a commission-driven model of delivery.
Pros And Cons Of 72SOLD:
Pros:
- Agent Negotiation: 72SOLD provides access to professional agents who handle negotiations. This can be a huge benefit for homeowners who want skilled representation.
- Quick Sale: The system is set up to sell homes quickly, typically in 8 days. This structure provides a sense of certainty for sellers looking for a fast transaction.
- Licensed Agents: Importantly, all agents are licensed individuals, so sellers are working with experienced professionals who know the market.
Cons:
- Limited Buyer Access: An open house can be limited to 90 minutes. This can become a limitation in terms of how many potential buyers one can accommodate. On many occasions, for example, buyers may not even get a chance to schedule a viewing because it takes just a short amount of time.
- Higher Fees: Commissions would be determined by the agent and the terms of the contract; they may even be more significant than flat-fee plans, which could ultimately make the transaction costlier to the seller.
- Uncertain Outcome: The bidding strategy may not always lead to a higher price. In slower markets or with less buyer interest, the results might not meet expectations.
Pros And Cons Of Houzeo:
Pros:
- Affordable Pricing: Houzeo uses a flat fee for pricing, meaning you can list your property at a small commission without having to offer large portions of the sales to the real estate agents. This will save you a lot of money in sales.
- Wider Reach: Each home that you list with Houzeo gets its listing placed on the MLS. In this way, your home will come into contact with more prospective buyers, enhancing exposure opportunities for it.
- Full Control: Sellers have the flexibility to handle the entire listing themselves. This means they can manage offers, schedule showings, and negotiate directly with buyers, giving them the freedom to move at their own pace.
Cons:
- Less Support: Houzeo does not have full-service agents, unlike most other websites. The seller will need to fend for themselves during negotiations and the sale; that is a pretty tall order for any one person who doesn’t know the ropes when it comes to selling a home.
- Uncertain Timeline: Unlike other services that promise a quick sale, Houzeo does not offer a guaranteed fast track. While MLS exposure is beneficial, there is no set time for selling, so the process may take longer than expected.
Is 72SOLD Legit?
72SOLD is a real estate service founded by Greg Hague in 2018. It has quickly become recognized in the market, with a presence in 38 U.S. areas. The company focuses on selling homes in a very short period by fostering competition between buyers.
Their model aims to create urgency through a fast-paced, 72-hour marketing period. This appeals to homeowners who are looking for a quick sale. In 2022, 72SOLD expanded its influence by forming a partnership with Keller Williams. This collaboration helped them grow and reach more markets. The connection with such a reputable company adds credibility to 72SOLD’s operations.
Sellers working with 72SOLD benefit from a network of trained agents. Though success depends on local market conditions, 72SOLD has built a strong reputation for fast sales. Their unique selling process sets them apart from other brokers. Overall, the company continues to adapt and grow, offering sellers a competitive edge.
Which Is Better For Home Sellers 72sold Or Houzeo?
72sold: Fast Sales And Expert Negotiation:
72SOLD is built for sellers who need speed. Their program aims to sell homes in as little as 8 days. The idea is simple: create competition among buyers.
By having multiple buyers compete for the property, you can drive the price up. Trained agents handle all the negotiations, ensuring you get expert support throughout. If speed and professional negotiation are your priorities, 72SOLD is a strong choice.
Houzeo: Save On Commissions:
For sellers, Houzeo is actually a more affordable platform. No high commission charges; rather, you are charged only at a flat rate. You save money in all ways, especially through conventional agents who put percent on the sale.
With this flat-fee model, it is a good solution for owners that want to save on their costs. For this one-time fee, you get access to MLS and other tools meant for marketing your house without having to break into your wallet.
Mls Exposure With Houzeo:
With exposure, Houzeo is unparalleled. You are able to market the house on the MLS, thus going to the widest pool of buyers. In fact, most serious buyers look for homes at the MLS.
Your house is seen and known by people searching at this platform. It’s one of the most excellent forms of visibility. Typically, more exposure leads to more interest, possibly selling it faster.
Flexibility Vs. Speed: The 72sold Vs. Houzeo Trade-Off:
The choice between 72SOLD and Houzeo often comes down to speed versus flexibility. 72SOLD’s goal is to close deals quickly, often within days.
This speed can be a huge advantage for sellers who need to move fast. On the other hand, Houzeo gives you more flexibility. You’re in control of the timeline and negotiations. If you need to sell fast and don’t mind giving up some control, 72SOLD is ideal. But if you prefer to take your time and save on fees, Houzeo is a better fit.
Which One Fits Your Needs?
Whichever way you look at it, it’s really on what matters most to you in the selling process. If one would value a quick sale with professional guidance, 72SOLD would be more effective using a competitive strategy and supportive agents.
In contrast, if saving money as well as handling the transaction himself is valued, then Houzeo would be a good alternative. The two services offer different advantages depending on what you are looking to achieve with the sale. This decision is more or less about how quickly you need to sell and to what extent you want control over the sale process.
Conclusion:
In conclusion, both 72SOLD and Houzeo offer distinct advantages depending on your needs. If speed and expert negotiation are your priorities, 72SOLD’s competitive bidding process can help you sell quickly.
However, if saving on fees and gaining MLS exposure are more important, Houzeo’s flat-fee structure gives you control while broadening your buyer pool. Ultimately, the best choice depends on whether you value a fast sale or want to manage the process at your own pace.
Related Questions:
How Fast Can My Home Sell With 72sold?
72SOLD is designed to sell homes quickly. Their goal is to have a deal in place within 8 days. This is achieved by creating competition among buyers. However, the speed of sale may depend on your local market and buyer interest.
Can I Negotiate The Fees With 72sold?
Yes, you can negotiate the fees with your agent. Each agent sets their own terms. While the base commission is flexible, be aware that overall costs could still be higher than flat-fee services like Houzeo.
Why Is Mls Exposure Important With Houzeo?
In addition, MLS listing boosts your house’s visibility. This may expose the property to more buyers and hence more offers towards you. Since MLS is a primary site for serious home shoppers, exposure through this platform may significantly increase your chances of selling the house.
Do I Need A Full-Service Agent With Houzeo?
No, Houzeo does not give you full-service agents. Instead, it offers you a flat-fee listing service where you do the process yourself. This way, you have control over your sale, but you will not have an agent, with whom one can negotiate on your behalf or write up the paper for you.