72Sold is an Arizona-based firm that promises to sell homes within 72 hours or 8 days. It is an attractive alternative for homeowners who want to quicken the home-selling process. According to 72Sold, homeowners don’t have to compromise on the selling price.
The homeowners often wonder if the 72Sold’s commission is much higher. In this article, you will learn about the commission that 72Sold charges to sell the home within 8 days.
72Sold’s Commission Structure
The commission charged by 72Sold is comparable to what the traditional agents charge. The commission range is between 5% to 6% of the home’s final price. This rate covers both the listing agent’s fees and the buyer’s agent’s fee. This commission is split between these two parties. They get around 2.5% to 3% each.
Traditional Agents vs 72Sold Commission
The commissions charged by the traditional agents are similar to 72Sold. Besides that the traditional agents may take some extra fees. They usually charge additional marketing costs for professional photography and staging. Also, the traditional agents may take administrative fees that increase the overall cost.
Flat Fee Agents vs 72Sold Commission
Flat fee agents like Ca Flat Fee charge a fixed rate rather than a percentage of the selling price. But the overall cost of flat fee agents can be similar to the commission structure of 72Sold. The flat fee agents take some additional charges for marketing and open houses. You should evaluate if the quick sell is justified to trade off against the fixed rate of flat fee agents.
Hidden Fees
You have to pay the closing costs and some hidden fees regardless of the agent you select. The closing costs are escrow fees, transfer costs, and insurance. You also need to prepare your home to make your home appealing to the potential buyers. For that, you have to bear the repair and maintenance costs.
Alternatives to 72Sold
Though 72Sold offers a faster selling process within 8 days, this commitment can’t be guaranteed. The homeowners can opt for other trusted options like traditional agents, flat fee agents, and discount real estate brokers. Homeowners can also sell the home on their own (FSBO).
The discount brokers charge 1% to 2% of the selling price. Homeowners who are cost-sensitive may find this alternative reasonable. But the discount brokers may offer fewer services and the level of service may vary.
Is 72Sold Worth It?
Homeowners whose house is located in a demanding market may find the 72Sold as a perfect option. As they offer to sell homes within 8 days at a higher price, they attract many sellers. However, you will have to pay similar fees to the traditional agents and other alternatives. You may also miss opportunities to grab a higher price. You can surely boost up your earnings by comparing the real estate agents to choose the best one.
Conclusion
Homeowners who are looking for a faster home-selling option may opt for 72Sold to sell their house. They can also consider other options like the flat fee agents and traditional real estate agents. For example- the flat fee agents can guarantee the highest possible sale price at a fixed commission rate. By evaluating the prominent platforms, sellers can pick the right option according to their priorities.
