Category Archives: How Do Estate Sales Work

Estate Sales Nitty Gritty Downsizing, Moving, Estate Liquidation

Estate sales handle the nitty gritty of downsizing, moving and estate liquidation.

Recently the New York Times and other publications have written articles by non estate liquidators about this necessary and booming industry. Much of what is discussed could be called fluff.

Whether downsizing, moving or liquidating an estate there is much more to it than just sorting and making charitable donations.

The goal of the estate sale is to reduce or eliminate personal property,  Trying to give the seller(s) or heir(s) some kind of monetary return on their past purchases or gifts.

Many estate sale companies have trained staff specifically trained to work with the elderly, but the business of liquidation is still the same.

Helping people part with years of accumulation is not an easy task. Emotional attachment comes into play. A third party without attachments is often beneficial.

It is important when the time for liquidation comes, unless you really don’t want to receive any monetary compensation, donating should be left for after the estate sale.

When interviewing estate sale companies, you should feel comfortable about asking them about their experience working with senior citizens. Ask how they feel about working with families. Especially with loved ones who may be liquidating a family members personal property for medical conditions.

A knowledgeable estate liquidator will recognize items of value that could be donated, but would be more beneficial to the individual being sold.

Many estate liquidation companies are happy to discuss the handling of downsizing or liquidation with emotionally attached family or friends.

The nitty gritty of estate sales is more than just sorting, pricing, advertising and selling. It requires estate sale companies to use compassion and understanding.

Consider these elements when interviewing estate liquidators. Wise choices should make the liquidation process less stressful and hopefully financially successful.

Estate Sale No No’s

Estate sale no no’s have become a continuing theme.

Seller etiquette is as important as buyer etiquette at estate sales.

As a seller when you hire an estate sale company you should have already gone through everything in the property. Anything you want to keep should have been removed or locked away.

The job of an estate sale company is not to sort through and organize personal property so that a seller can then cherry pick items they want from the sale. It is not the task of the estate liquidation company to do the “dirty work” and then have items removed from the estate sale.

Sellers need to be responsible for looking through, sorting and choosing those items that they want. If they are dealing with a hoarder sale then discuss this with the estate sale company before signing the estate sale contract to avoid misunderstandings and future problems. This is the time to discuss items that may surface they might want and how that will be handled.

When an estate sale company agrees to conduct an estate sale, they base their fee, advertising, staff requirements and time on what they see at the time they visit the property.

Many estate sale companies have added clauses to their estate sale contracts to collect a commission on items removed after a certain time frame in the contract.

Buyers allso need to remember it is a privilege not a given to be entitled to enter and attend an estate sale. The estate sale company has a fiduciary with the seller. It is their responsibility to control entrance to, sales and buyer behavior within the property. 

The estate sale company can ask a buyer to leave the sale if they feel any inappropriateness by the conduct of a buyer. This can include language, harassment, or possible theft or changing or deletion of price tags.

The estate sale should have signs posted throughout and about the property concerning the rules, terms, and conditions of the estate sale.

Estate sale no no’s apply on both sides of the estate liquidation business. Success can depend on it.

Importance Of Liability Insurance For Estate Sales

The importance of liability insurance for estate sales has become a necessary cost for estate sale companies.

With thousands of estate sales, thousands of estate sale companies and baby boomers moving or downsizing at an increased pace, estate sale companies need to protect their businesses.

The world has become a litigious place. Estate sale companies take care when staging an estate sale, but with hundreds of people moving through the occasional incident can happen. The estate liquidator works diligently to keep the estate sale a safe environment.

One company that works with a large majority of estate sale companies providing estate sales insurance is the ACNA  (Antiques and Collectibles National Association),

Estate Sales Summertime Review What’s Hot And Behavior

It is time for an estate sales summertime review of what’s hot and behavior.

Let us start with what’s hot in estate sales.

Recurring themes are fishing and hunting items, Pyrex (seems to be selling everywhere), military items and linens. Tools, mid-century decorative items, wood working items. Pyrex appears to be one of the hottest sellers.

Other hot sellers include good gold jewelry, great costume jewelry, purses, perfumes and inexpensive holiday decor.

The area of the country also helps determine what are hot sellers.

Behavior at summer estate sales is also hot.

Storage Unit Filled Estate Sale Or Auction

Storage unit filled, estate sale or auction. Questions to be answered.

EstateSalesNews.com has received many calls and emails from prospective sellers concerning the liquidation of personal property they have stored in storage units.

Sellers want to know what venue to use.

First question is how much is stored? What is stored? Have they asked the storage unit company if they could sell from the unit?

Many estate sale companies will not sell from a storage unit. The estate sale company has to look at what is going to be for sale, how can they display, will the storage company allow it and is it financially equitable for them?

Simply unpacking boxes to examine what is in the storage unit(s) can present a challenge.

Many estate sale companies are not set up to remove property from a storage facility to another location. On site estate sales are easier to look at and stage. They usually provide space for parking and traffic.

There are some estate sale companies that will provide the service, but usually at a much higher commission because of the work and restrictions involved. Some liquidators may offer to sell via online auction. Other estate sale companies offer both on site estate sales and auctions.

Auction companies may choose to pick up the contents of a storage unit and move it to a facility to be included with other partial contents in an auction.

If you are moving, downsizing or liquidating a loved one’s stored belongings, all of the above needs to be considered and investigated to determine what liquidation process will work best for you and if anyone in your area can assist.

Do not hesitate to consult with your local estate sale companies. If they cannot assist you, they may provide leads as to who can.

Knowing your local estate sale companies can provide you with knowledge to make wise, informed decisions.

July 4th Holiday And It’s Impact On Estate Sales

The July 4th Holiday and it’s impact on estate sales is usually only noticed by estate sale companies. Most estate liquidators take this time off to celebrate our Independence Day with family and friends as most Americans do.

Auction companies often hold holiday weekend auctions. Their audiences often differ from estate sale companies.

Estate sale followers and attendees usually shy away from major holiday weekends. Christmas, Easter, and July 4th especially. Time for family and friends.

Our 4th of July celebration gives the estate sale companies and their staffs an opportunity to enjoy to enjoy some needed rest time and join in the celebration.

As summer vacations begin, estate sale companies will be working harder to get the message out about their sales and what each weekend the public will find.

Marketing strategies change to accommodate the summer season. Social media for targeting their audience will be a key player in their advertising campaigns. Vacationers following Facebook, Twitter, Instagram, and Google+ will find ads, photos, and snippets about estate sales. Click here for more information on social media marketing.

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.

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