Category Archives: Estate Sale Contracts

Estate Sale Commission Last Consideration!

The estate sale commission is your last consideration and here is why.

So many estate sale companies have come on line in the last three plus years competition has become fierce. Many new companies try to compete with a lower commission.

When looking to hire an estate sale company, the estate sale commission should not be what influences your decision. Consider the following before you even ask about the commission.

How long has the company been in business? How did the liquidator gain knowledge and experience to sell personal property contents?

Ask about the estate sale company staff and if they have experience.

Advertising is so important with so many estate sales. Ask where and how they advertise. Do they have a private email list of customers that they send to each week?

How do they conduct their set-up and staging.

Do they research for pricing and where do they look for information. eBay should not be the only answer. Experienced estate liquidators know where to research.

Why Learn About Estates?

Why learn about estate sales? If you are a baby boomer or an heir settling an estate you want to understand the liquidation process and hire the right estate sale company for your needs.

A liquidator with 20 plus years in the estate liquidation business conducting estate and moving sales as the editor of EstateSalesNews.com I learned by hands on experience. Experience working estate sales is the best teacher of knowledge and handling a variety of situations.

Estate sale advertising listing websites are able to put you in contact with estate sale companies in your area.

Experience and knowledge about estate sales is done by actually working at estate sales.

Estate Liquidators Wear Many Hats With Expertise

Estate liquidators wears many hats with expertise in a variety of fields associated with the liquidation of personal property.

Personal property liquidators are individuals earning a living as entrepreneurs. They do not work a five day a week job from 9-5. Estate liquidators require time management ability, motivation, dedication, knowledge, marketing skills, and more. They must determine their schedule, time, and requirements for each estate sale.

An estate sale liquidator must know and understand what the estate sale process is. Liquidators need knowledge in selling personal property. Estate sale company owners will work endless long hours and weekends. Often with no days off for weeks at a time.

Estate liquidators need to be a business person, salesperson, and negotiator. Liquidators have to be able to handle any situations that arise during the sale.

Exciting Estate Sales Coming Soon

Exciting estate sales will start taking place after this 4th of July weekend.

One of the estate liquidations will be the third week of July in Newton, Massachusetts by Trilogy Estate Sales of a famous chef. This estate sale made in the Boston Globe.

EstateSalesNews.com is taking a long weekend starting today to celebrate our Independence day with family and friends.

We will return Tuesday, July 5th. Until then we would like to offer you the following links to our archives to answer and help with questions you may have.

Estate Sale Contracts

Estate Sale Costs

Estate Sale Cleanouts

Hiring An Estate Sale Company

700 plus articles are available to you 24/7 and we encourage you to utilize them to provide estate sales information, tips, and news.

Have a happy and safe Independence Day. We thank all those who have and continue to keep us safe and free. EstateSalesNews.com loves the USA.

 

 

Estate Sales – What To Expect, Sellers, Buyers, Estate Liquidators

Today’s estate sale business has grown to the point where people may have forgotten what is expected of them so let’s review some estate sale basics.

Sellers – It is your responsibility to investigate, interview, and hire an estate sale company with a good reputation. There are multiple resources available to you including information right here on EstateSalesNews.com as to how to find a company, what to look for, what to ask, what to expect. If you do not do your due diligence you may not hire the best estate liquidator that is a “good fit” for you. Don’t forget, these people are not trash removers (unless you pay them additional) they are happy to be of service, however, you should let them do the professional job you hired them for and please don’t micromanage. Pay them fairly and if prices don’t quite meet your expectations remember this also effects the estate liquidator. The more money they make for you (especially on a commission basis) the more an estate sale company receives. They can’t control weather, market conditions, other sales in the area that are your competition. Your job after hiring them is to trust them and let them be the professional you hired. You should also write a review on the way they handled your sale. If you’re really pleased, speak out and if you are truly not pleased, speak to the estate company first, then decide about your review.

Buyer – Please use your estate sale etiquette. Don’t go into an estate sale expecting a bargain basement sale. These are personal items (that do not belong to the estate sale company) and they are priced where they are for a reason. If you don’t like the price, ask politely if they are doing any reductions or accepting bids. An estate sale company has a fiduciary relationship with the seller(s) not with you. Please and thank you, wipe your feet, do not shove or push, and please don’t use foul language when attending an estate liquidation. That is the fastest way to be asked to leave and they can do so. You wouldn’t curse in Macy’s or Nordstrom so please respect the professionals running the sale. Prices are set by the estate sale company (after researching) and sometimes by the seller. Unless you are a certified appraiser, the prices are what they are and hopefully you may get a better price if the item doesn’t sell in the first day or two. It is absolutely discourteous and disrespectful to write ranting reviews on any website about prices. You may even find yourself banned from attending any further sales by the company. Please use your MAT (manners and thank you).

Estate Sale Companies – This is a customer service industry. You are trying to make a living off this, but you should be a professional and provide good quality customer service to sellers and buyers. Take the time to become experienced and educated in this industry. Patience and professionalism will be virtues you need every day as an estate liquidator. Reliability, honesty, and integrity are paramount. Make sure your estate sale contract covers all contingencies (you can find info right here on Estate Sales News or email us at contact@estatesalesnews.com) Research your items thoroughly and have a listening ear for your seller(s). This doesn’t mean you need to be a therapist, but hear their concerns and respond with what you feel and know is fair. Don’t be afraid to turn a sale down, work with buyers, but remember be professional and please don’t go negative about other estate sale companies. Let your reputation and record shine.

Estate sales are wonderful and should be fun and the estate liquidation business should be rewarding for sellers and estate sale companies. Not everyone will be a winner, but knowing whether you’re a seller, buyer or estate liquidator that you did your best is in itself a reward.

 

Have You Downloaded Our IOS App For EstateSalesNews.com Yet?

Just a reminder that EstateSalesNews has a free IOS app for iPhone 6 and up.

Research estate sales, how to choose an estate sale company, what is an estate sale, estate sale staging, estate sale contracts, bonded and insured, estate sale costs, estate help and tips, buying at an estate sale, and finding estate sale companies.

All this at the touch of your finger trip. You can access hundreds of articles from EstateSalesNews.com while you wait in line for an estate sale or if you are trying to learn more about finding and hiring an estate liquidator.

Learn about estate sales, hoarder estate sales, estate sale etiquette, and how lines and crowds are controlled, security is handled and so much more.

Just search for estatesalesnews.com in the app store. You’ll be glad you are connected.

Estate Sale Contracts Are Commitments

Many people moving, downsizing, or selling off a family home, fail to realize that once you have signed an estate sale contract it is binding just like any other contract. You have committed to an estate sale company and they have committed with you. For this reason it is important to you as a seller that you understand the contract and ask any questions. Do not feel hesitant or intimidated to say I don’t understand this clause. The estate liquidator wants a clear understanding between you both and a good working relationship.

Estate sale companies are discovering (especially in packed homes) that sellers are coming in after they begin their setup, and remove items they hadn’t seen in years. This is not the way it works and most estate liquidators have a clause in their estate sale contract that says they may charge you a full commission on any items removed.

Differences You Should Know Between Estate Sales & Yard Sales

Sunday was the first official day of Spring and that heralds the start of yard and garage sale season, but they are not estate sales. Occasionally when a family divides up the remainder of an estate there may be some leftovers and this is what you may find included in a garage or yard sale, but these aren’t estate sales.

An estate sale will be run by a professional estate liquidator who has gained education and hands on experience, along with possibly an education from some of the liquidation courses offered by various associations and societies.

Estate Sale signAn estate sale company has a professionally trained staff. They are well versed in marketing strategies to optimize the exposure of your estate sale, they know how to stage or set-up your sale, conduct research, arrive at current market pricing for the contents in your sale and the understand the very important need for security crowd control.

An experienced estate sale company will provide you with a contract detailing what they will do and when including paying out net proceeds and they should also provide liability insurance that covers them.

Whether you are having an estate sale, yard sale, or garage sale, you should have a homeowner insurance policy that is in effect. Protecting your assets is important for all venues.

EstateSalesNews.com Celebrates 3 Years Providing Estate Sales Information

It’s been three years since we launched this estate sale website magazine. We want to take a look back at the variety of topics we have covered.

We are also flattered that other websites have been developed to try to provide estate sale information. The difference for you our audience, we were in the estate sale business for 20 plus years. We do not charge you for all the information you find on our website. Others have been websites have been launched that either charge for information or are used to assist another existing website that estate sale companies (that estate sale companies already pay advertising fees for).

We started by discussing what is an estate sale. The definition has changed greatly over the years. We use to call them tag sales, house sales, moving sales, etc. Now for the most part we group them under one banner “estate sales”

When we launched there were about 9,000 estate sale companies. Today the growth continues and we have passed the 16,000 mark.

Estate Sale Contracts – Important Topics

EstateSalesNews.com has written about estate sale contracts in the past, but there are topics that deserve review.

One of them is the final payout to sellers of the net proceeds. Every estate sale contract should have a paragraph that addresses the specifics of how and when you, as a seller, will receive your net proceeds. It should lay out either the number of days (and this should be business days – excluding weekends and holidays preferably) or weeks, but certainly within 30 days of the conclusion of the sale.

Each estate sale company has a process they go through, however, 30 days should be the maximum and if you have a contract that is not specific, do not sign it. You will not have any guarantee of when or even if you will be paid. Estate sale companies that have good business ethics (99.9%) want you to know when you will be paid. They also want you to know how your will receive your proceeds, either by check, cashiers check, or in cash. When you review the contract with your prospective estate sale company look for the payout clause and ask questions if you have any. Estate sale companies want to have a good working relationship with you as a client. It benefits both of you.