Category Archives: How Do Estate Sales Work

Reputable Estate Sale Companies Choose Wisely

There are thousands of reputable estate sale companies, but sellers must choose wisely and with knowledge.

Recently a reputable estate sale company was contacted by sellers who had contracted with another estate sale company to run their estate sale. With less than a week to the dates of the sale, the estate sale company hired by the sellers notified them that they were not going to conduct their estate sale because a better sale had come along.

Here at estate sales news we have many articles and a printable list to assist and help sellers, heirs and attorneys with their decisions. Click here for a printable list.

Choosing an experienced estate liquidation company, with a good verifiable reputation is paramount to deciding on the right company. Reviews on the internet, speaking with past sellers, recommendations from former clients, and perhaps a visit to a current sale are all good ways to help you find the estate sale company to handle your sale.

Look at their advertising, memberships (not always necessary) and ask how they became estate liquidators. Question how long they have been in business and be sure to ask about their staff and experience. You are looking for knowledgeable, experienced individuals.

Ask about how they setup and price. What kind of research do they do. If needed do they have specialists they can seek out information from.

When you sit down to review their contract ask questions. This is a contract. Ask what repercussions could take place if either party fails to meet the the contract’s conditions and clauses.

There are 16,000 plus estate sale companies and the majority are hardworking honest people who do their jobs well and represent this profession in the highest manner possible.

Do your due diligence and remember that you can make a wise choosing an estate sale company.

Moving And Downsizing And Estate Sale Companies Can Help

Recently my husband and I moved and although we have downsized and I was an estate liquidator in New Jersey I wish I had listened to my own advice and had an experienced estate liquidator help.

Moving, downsizing and estate sale companies all fit together.

Having an outside, detached individual or company can be so helpful.

Although we all want to keep those most important keepsakes, an estate liquidator can be of great service.

We wish now that had time and thought permitted we would have discussed our new digs and what we have.

Instead we have over 125 boxes and some furniture in our garage that don’t have a home, we aren’t sure what is in each box and we are both still working.

If you are getting ready to move, downsize call a reputable, knowledgeable and experienced estate sale company and explain your situation. Seek advice and then if you feel comfortable arrange for an interview.

We all have items we cannot part with, however, estate sale companies can be of great assistance to relieve stress and help.

Don’t be caught short and left in a state of “what do I do with it now”. Estate sales can be the answer to so many problems.

ISA Conference In Chicago On Estate Sales

The discussion of estate sales at the Chicago conference of the International Society of Appraisers was engaging and brought forth many views.

We discussed how ISA appraisers can be beneficial to estate liquidations. The degree of commitment that is required by an ISA appraiser to conduct estate sales. Estate sales are a business not a hobby.

Is an estate sale the right choice for the client. It isn’t just quantity. The best market for some items may be at auction and an ISA appraiser can assist with brokering this. As part of their training they are educated in the larger auction houses across the country.

We discussed how ISA appraisers can work in tandem with estate sale companies in a beneficial manner for both.

Our discussion included how estate sales work. Learning about staging, security, advertising, crowd control were just a few of the topics we touched on. How many hats does an ISA appraiser want to wear.

We also discussed online auctions and franchises. These are two hot topics.

It should be mentioned that online auctions and franchises have found a place for estate liquidators as well as considerations for appraisers.

We were booked for a 1 hour and 15 minute discussion and we ran over our time a bit.

Much information was covered and more will be discussed in greater detail.

Many thanks to the International Society of Appraisers for inviting me and giving me this platform to discuss the wonderful world of estate sales.

 

Estate Sales Information And Topics

Estate sales have so many topics to cover and information to be discussed.

This Sunday in Chicago I will be speaking at the International Society of Appraisers (ISA) Conference about estate sales. So many topics to cover in a short time, but I hope this will be informative and lead to an educational exchange of ideas and information. Appraisers are important to estate sales and estate liquidators, but the same can be said for the importance of estate sale companies and appraisers.

The estate sale business has grown into such a large small business industry, that the number of topics and information needed to be successful requires continuous reading and education.

Since I retired from the estate liquidation business in 2011 much has changed.

Todays’ estate liquidator has to be concerned with the sale of ivory, liability insurance, disposal of hazardous materials, permits, mold, better security, greater use of social media advertising, where best to research items of value or the unknown, and how to do time management and the list continues and grows.

There are many sources for information on estate sales available on the internet. We feel you should not, however, pay for that information. Buyers and sellers should be able to obtain reliable, knowledgeable and useful information for free. If you are obtaining it from any source that also collects fees from estate sale companies question what you are learning if you too pay for this information.

EstateSalesNews.com celebrated our 4th anniversary this month. Although we have a small variety of diverse companies paying for advertising, this is to help defray our cost for our website out to enable a free resource for buyers, sellers, estate sale companies and the estate sale information and the topics we cover.

We encourage you to sign up for our newsletter, utilize our free RSS feed if you are an estate sale company and follow us on Facebook and Twitter. We also have a Pinterest page and videos on YouTube.

 

Estate Sales Advertising Without Pictures Of Items For Sale

Estate sales that advertise items without showing pictures certainly is disturbing to buyers and sellers.

Looking at estate sales and searching for items is a regular practice. What is disturbing is the written advertising includes items (many larger), but no photos are on the estate sale advertising listing website.

We were looking today for vintage appliances and found one estate sale advertising a galvanized tub, but no photos were included. Advertising vintage items with no photos of a vintage tub, yet a photo of a walke. This is not good advertising.

It is vital to a seller and to attract buyers that items of serious interest have photos on websites that advertise estate sales.

Many estate sale advertising listing websites limit the number of photos or an additional charge is incurred. This should be taken into account by the estate sale company when deciding on their costs.

Advertising items of interest in an estate sale, however, should have photos on advertising websites unless it is a security situation.

Sellers, if you are looking for an estate sale company ask to see their online advertising. Ask how they decide what is and isn’t important. Discuss what items of interest to buyers are in your sale and would they feature photos of them.

Searching for items of serious interest that are included in the listing section of the sale without a photo on the website page is not good marketing and that is not beneficial to your bottom line.

Advertising is a knowledge of marketing and requires experience. Anyone can post a list, but knowing what is of interest to buyers is the trademark of an experienced estate sale company.

Top Questions Sellers Ask About Estate Sales

The top questions sellers ask about estate sales is based on our Google analytics. We offer this review with links to pages on our website to answer some of these questions.

#1 Estate sale contract – what to know and expect. Estate sale contracts.

#2 Downsizing or moving, estate sale or garage sale and what’s the difference.

#3 Estate sale costs. What you need to know.

#4 Selling cars and vehicles at estate sales

#5 Estate sale clean outs – under estate sale contracts.

On this Thursday as estate sales begin for another weekend we hope these top five EstateSalesNews.com topics answer some major questions.

 

International Society Of Appraisers And Estate Sales News

EstateSalesNews.com has been honored by asking to speak at this years International Association of Appraisers conference.

We will be speaking about selling out the house and how to avoid the pitfalls of estate sales.

The conference this year is in Chicago, IL.

We will be addressing that conducting estates sales are a business, not a hobby.

Understanding the estate sale contract.

Why ISA (International Society of Appraisers).

What to do with left overs from estate sales and wearing three hats for one client.

We are excited to have this opportunity to speak about a subject we embrace and encourage and to such a prestigious group as the ISA.

Today is the start of another weekend of estate sales and their are thousands taking place across the country.

Please look at these websites for estate sales in your area.

EstateSale.com

EstateSales.org

EstateSales.net

Updated Checklist For Estate Sale Contracts

Here is an updated checklist for estate sale contracts for estate sale companies and sellers.

We are not an attorney, but these items should be included and understood in the estate sale contract.

The estate sale contract should lay out in clear language.

  • Name of the estate sales company
  • Name of owner/s, heirs, or attorney
  • Date of estate sale contract
  • Address where the sale is to take place
  • Dates the sale is to be held and time
  • Dates the estate sale company will be given access to setup and price
  • Any items excluded from sale on addendum when contract is signed
  • Utilities – electric, plumbing, heating and air conditioning should be working
  • Liability insurance for estate sale company
  • Homeowner must have active homeowner insurance policy
  • Ramifications of removal of items by sellers after contract is signed
  • Fee or commission that will be charged if items removed or sold ahead by seller
  • Cancellation clause of contract
  • Party responsible for advertising and costs
  • Who is responsible for obtaining and paying for any permits required
  • Cost of sale, commission, fee, any additional sale related costs
  • When seller will receive net proceeds and form of payment to be made
  • Will seller receive written account of sold items and what it will or won’t include
  • Who is responsible for the clean out when the estate sale is concluded
  • If estate sale company cleans out any costs associated with clean out
  • Any additional costs for appraisals or specific appraisals
  • **If needed winter expenses and responsibility, i.e. plowing, shoveling, sand etc.

Visit the top of our front page for Choosing An Estate Sale Company.

Estate Sale Companies Use Research And Knowledge To Price

Estate sale companies use research and knowledge to price your estate sale items. It is amazing what is found in estate sales that require research and where and how to conduct that research.

An experienced and knowledgeable estate liquidator friend recently shared information about luggage labels and baggage tags that have become collectible. The take away is knowing where and how to research these collectibles.

 

 

 

 

 

 

Gaining knowledge and more importantly knowing how to research items is important to both estate sale companies and sellers.

The experienced estate liquidator will conduct research by book, computer, auction catalogue results and networking with other estate sale companies. They will also consult with certified appraisers. Many estate sale companies keep an appraiser on retainer. Especially a CAPP (Certified Appraiser Personal Property).

Having the knowledge to know where and how to research is an important reason for hiring a professional estate sale company. The average seller just isn’t equipped with the knowledge or know how to properly price and advertise their sales. Many times money is lost because of lack of experience or where to research. It’s more than just eBay.

When choosing the right company to conduct your estate liquidation or downsizing sale ask about their experience and how they research. It’s your $$$$ that are at stake.

Choose An Estate Sale Company By Reputation Not %

Today there are more than 15,000 estate sale companies working across America. Choosing an estate sale company should be about experience, reputation, reliability and integrity. The very last consideration should be commission or a fee.

Speaking with an estate sale company, asking to see referrals and conversing with them, reviewing their experience.

Seek out reviews on the internet and don’t hesitate to ask the estate liquidator about the reviews, especially those in question.

So many companies have come on line that it is now more important than ever to ask about their experience in the business, how they got into the business and why estate liquidations.

The very last question should be about commission and in the end this is not that important. If an estate sale company does a poor job a low commission won’t help you.

Like any other specialist, estate liquidators consider all their costs, plus the profit they need to make their living and the commission is usually based on that.

When choosing an estate sale company, choose by previous results with others, not what they want you to pay and make sure you sign an estate sale contract that covers everything. Success doesn’t just happened, it is earned and comes from knowledge. Be a savy consumer and choose wisely.