72 Sold Lawsuit – Everything You Need!

72 sold lawsuit
5 min read

The 72 Sold lawsuit has sparked widespread debate among homeowners, real estate professionals, and legal analysts. The lawsuit raises concerns about misleading advertising, hidden fees, and potentially deceptive business practices within the 72 Sold real estate model.

For those considering using 72 Sold to sell their homes, this article provides an in-depth, easy-to-read, and well-researched guide covering all aspects of the lawsuit, the company’s operations, and how it affects both sellers and buyers. We also provide insights beyond existing sources to give you a complete picture of what’s happening.

What is 72 Sold?

72 Sold is a real estate service that promises to sell homes within 8 days while allegedly securing prices 10% higher than traditional methods.

What is 72 Sold?

Founded by Greg Hague, the company has gained national attention due to its aggressive marketing strategies that claim to simplify home-selling with a faster and more profitable approach.

How 72 Sold Works

  1. Home Evaluation – Sellers provide details about their home.
  2. Exclusive Buyer Pool – 72 Sold claims to have a network of motivated buyers.
  3. Fast Sale Process – The company markets the home aggressively for a quick turnaround.
  4. No Traditional Showings or Open Houses – Unlike traditional methods, 72 Sold minimizes in-person showings.
  5. Higher Price Claims – 72 Sold often states that homes sell for up to 10% more than other methods.

While these features sound appealing, critics question the transparency of the company’s approach.

What is the 72 Sold Lawsuit About?

The 72 Sold lawsuit involves allegations that the company engages in deceptive advertising and misleading sales tactics, which do not always align with their promises.

Key Allegations in the Lawsuit

Misleading Advertising

  • The lawsuit claims 72 Sold’s marketing is deceptive, leading homeowners to believe they will receive higher offers in a short period.
  • However, not all sellers get the promised 10% higher price or sell within 8 days.

Hidden Fees & Lack of Transparency

  • Homeowners report unexpected costs and commission structures not clearly disclosed upfront.

Pressure Tactics on Sellers

  • Some sellers claim they were pressured into signing agreements without full clarity on terms.
  • Non-refundable deposits and restrictive agreements make it difficult for sellers to back out.

Misrepresentation of Buyer Demand

  • 72 Sold markets homes as in high demand, but sellers later find limited real buyer interest.

Legal Troubles Beyond This Lawsuit

  • 72 Sold was also named as a co-defendant in another lawsuit involving former Keller Williams co-founder Gary Keller in 2023, further raising concerns about the company’s legal standing.

How the Lawsuit Affects Home Sellers

For Homeowners Considering 72 Sold

If you’re thinking of selling your home through 72 Sold, it’s important to weigh the risks: ✔ You might not get the price promised
Expect to pay commissions & fees that may not be advertised
Legal restrictions may limit your options if you change your mind

For Those Who Already Sold Through 72 Sold

  • If you feel misled by the company’s advertising, you might be eligible for legal action.
  • Contact real estate lawyers specializing in consumer protection for guidance.

What This Means for the Real Estate Industry

The 72 Sold lawsuit is part of a larger trend in the real estate industry, where companies promising “fast and easy” home sales come under scrutiny.
Similar lawsuits have been filed against other companies using questionable marketing practices.

Potential Impacts:

  • Stricter regulations on real estate advertising may emerge.
  • More transparency requirements could be enforced.
  • Sellers may turn to traditional agents who provide more clarity on pricing and fees.

Common Complaints from 72 Sold Users

Many homeowners and real estate professionals have shared their experiences, highlighting some common issues:

Common Complaints from 72 Sold Users
  1. The Sale Process is Not as Fast as Advertised
    • Some sellers report their homes sat on the market longer than 8 days.
  2. Overpromising on Price
    • Not all homes receive the 10% premium price promised in ads.
  3. Limited Buyer Pool
    • The “exclusive buyers” are sometimes just regular buyers found through other real estate platforms.
  4. High Fees & Unclear Commissions
    • Many users have been surprised by fees they weren’t aware of before signing.

Alternative Home-Selling Options

If you’re hesitant about 72 Sold, consider these alternatives:

Traditional Real Estate Agents

  • Work with a licensed agent who provides a full breakdown of costs & expectations.
  • No false promises of instant sales or inflated prices.

iBuyer Companies (e.g., Opendoor, Offerpad)

  • Instant cash offers on homes.
  • Typically offer below market value, but provide quick & hassle-free transactions.

Selling For Sale By Owner (FSBO)

  • Avoid agent commissions.
  • Requires more effort in marketing & negotiations.

Traditional MLS Listings

  • Work with an agent to list your home on the Multiple Listing Service (MLS).
  • Reaches more buyers for potentially higher offers.

FAQs

Is 72 Sold a Scam?

No, 72 Sold is a real company, but the lawsuit alleges misleading claims. While some sellers have had good experiences, others feel misled.

What Should I Do If I Used 72 Sold and Feel Misled?

  • Gather any emails, contracts, or recorded calls related to your transaction.
  • Consult a real estate attorney to see if you can join any legal action.

Can I Get a Refund If I’m Unhappy?

It depends on your agreement. Some sellers report non-refundable deposits.

Are There Other Lawsuits Against 72 Sold?

Yes, 72 Sold was named in another lawsuit involving Keller Williams, raising concerns about its business model and legal standing.

Final Thoughts

The 72 Sold lawsuit serves as a cautionary tale for homeowners considering alternative real estate selling methods.

Before making any decisions: ✔ Do thorough research
Read all fine print in contracts
Consider alternative selling methods

While 72 Sold might work for some, the lawsuit highlights potential risks that sellers must understand before signing any agreement.

Would you like assistance finding a reliable real estate service that fits your needs? Let us know in the comments!

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