Category Archives: Appraisers and Relocation Services
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.
Baby Boomers continue to age and retire, and unfortunately there are some with debilitating diseases such as dementia, Alzheimer’s disease, and memory loss.
As family and loved ones work to assist them it often becomes necessary to hire an estate sale company or liquidator to help them downsize to enter a care facility or even move into a relatives home.
It is common for the family or a relative to sit down with their loved one to discuss what must be done to make their life simpler and easier for them. The family may have an estate liquidator sit in on the first discussion allowing the liquidator to meet and interact with the prospective owner and family. However, because of the nature of the health issues they are facing, the person may not recall these conversations and the various discussions of what they will need to sell or who will take charge of the final distribution and including the clean out of the property when the sale is concluded.
Important for all parties, especially the family or relatives and the estate sale company is to have a contract that covers all aspects of the sale including final disposition of any remaining articles and the pay out of the net proceeds and who will receive these funds. The contract should be signed and initialed by all parties involved. If there aren’t any younger family members involved you may want to have an attorney present or signing off for the protection of the family member and the estate sale company. If so this should help avoid future issues of the selling of personal property contents. The need for an attorney is not always necessary, but this is another benefit of meeting with the future prospective client. *Please note Estate Sales News and the editor is not an attorney and we do not provide legal advice. Please seek out an attorney for legal counsel. The information presented here are recommendations only.
A brief check list.
Be sure to have at least one or more family members or friends present at each discussion and contract signing. They should be the responsible party for their relative and their signature and initials should be present on each page of any documents signed.
Copies of contracts should be kept be each party involved.
Any items that are not to be included in the sale should be clearly written on an addendum, that is initialed and signed by all parties.
The family or responsible party for the ill individual should be the contact person and this should permit the estate liquidator to conduct the estate sale agreed to by the parties in the contract.
Caring and providing emotional security is in the hands of family and friends, however, estate liquidators are compassionate and do their very best to work with responsible parties within the confines of the signed contract.
Even with thousands of estate sale companies, there are so many baby boomers on the move, many companies are already booked until August. Let’s do a brief review of what is truly important.
Be sure to ask about their experience. There is nothing wrong with new estate sale companies as long as they have previous experience working side by side with another experienced estate liquidator. An apprenticeship if you will. During the time that they work with someone with knowledge and experience they should learn about staging (or set-up) of the sale, recognizing what is being sold and pricing (general household) usually is priced by what prices are being reallized at other sales in your area, and of course knowing where to research unique, rare, unusual, or antique items. It is also important to have a certified appraiser that an estate sale company can use as well.
Ask about their education in the estate sale business, but it takes more than just reading and answering tests. Experience gained with a working estate liquidator is important.
It is beneficial to be able to speak with past clients. Written testimonials are helpful, but speaking with a client that they worked for within the last year is also a key component to deciding on whether or not you may want to hire them. Ask about their overall experience, but keep in mind financial results aren’t always the deciding factor. Were they on time, responsible, insured, and did they do what they agreed to. They may provide you with a brochure which is a great way to lay out their services. Keep that for future reference. Ask them if they have memberships with any associations or societies and if so what that means for you.
Do a complete review with them of their contract. If they don’t have a contract simply put – look at another company. If you are unsure of the contract ask to take it to your attorney so that all parties understand and begin the process with a good working relationship. Make certain that everyone understands what will and won’t be in the sale and if there is a penalty for removing something after the sale begins. If everyone is on the same page when the estate sale process starts it helps relieve stress and can forge a good working relationship between client and estate liquidator.
It is always important to look at any estate sales a company may be holding and if possible visit a company during a sale. Observation can be very informative.
Do not make the mistake of choosing an estate sale company by commission. That should be the “last” consideration.
This is just a quick review. For more information look at the orange tab on the top left side of our Front Page. How To Choose An Estate Sale Company.
No one can guarantee you that the estate sale company you choose will be perfect. All any company or group can do is remove them from the website and discontinue their membership. What matters is that you, the client, did your due diligence so that your final decision was yours. It is your financial bottom line and your responsibility. If you have questions contact us at firstname.lastname@example.org We welcome your questions and comments. Please visit us on Facebook and Twitter and check out our Pinterest page.
A friend posted an article on Facebook that appeared in the Washington Post on March 27th written by Jura Koncius in the Home and Garden section. The article was titled Stuff it: Millennials nix their parents’ treasures. Here is the link to the complete article
Today as ThrowBack Thursday it seemed appropriate to discuss what is taking place with baby boomers downsizing and moving across the country and this article and my friends’ comments about her own family and dilemna along with the 930 comments that were on the internet WAPO.ST is a testament to what the baby boomer generation faces.
The boomer generation is the largest group of individuals to date. The amount of “stuff” that we have collected is larger than any other generation. Many of us inherited our parents and grandparents possessions and with the monetary success that many baby boomers have enjoyed they used their money to purchase and fill their homes with furniture, art, household items, collectibles and just about anything you could think of. The job of downsizing has become a burden. Especially when the younger generations have purchased their own belongings, want different styles and are unaware of the value of many of your possessions in your home. The minimalist movement has also had an effect.
With millennials lack of interest in their parents possessions this is the time to find and hire an estate sale company or estate liquidator. They understand the plight of baby boomers and understand the task of preparing and selling their personal property. Estate sale companies are aware of the thousands of estate sales that are required and taking place weekly to assist this on the move generation.
What is important is finding an estate sale company that can accomplish the task in a professional manner with honesty and integrity. Knowing what to ask and expect from an estate liquidator is vital and no one source can guarantee you that the choice you make will be the right one. Following on Judy Martin’s article about “Why Bother To Research” the same principle applies to making a knowledgeable decision that requires you to do your own due diligence (research) as well as using the resources of others to choose an estate sale company to place your trust and confidence in to sell your personal property.
My eyes are blurry from looking at china pattern after china pattern. I am in the midst of pricing items for sale. My clients have entrusted me with their treasures and my job is to price them correctly. However, first I have to identify each item and then give them a value. But, that is my job and that is why I was hired.
The days of guessing are over. With the vast amount of resources available there is no excuse for guessing. Some things I know off the top of my head because I have sold them a few hundred if not thousands of times. But the market moves very quickly and what was a valid selling price six months ago might not be relevant today. Especially when working with metals; Their market moves week by week.
I have a huge library of resource books. The most common books I use are pattern and mark identification books. I know there are great mark identification websites. There is also a wealth of pattern websites, be it porcelain, silver, ceramic, or glass. However, I find it easier to sit with my books while I am standing over the items. Going back and forth on the internet has a tendency to drive me to distraction which is quite easy on some days. So, I take each category that I am working with and diligently look up each item both for identification, age, and condition and then I set my price.
I charge a good amount of money to my client for the work I do, I won’t apologize for that because I know I am worth every penny and then some. What I do is a profession, not a part-time gig, but a profession . I study and work at what I do everyday. Actually I probably don’t charge enough for some jobs due to the amount of time it takes to research the items involved. But I do figure for every unusual item I am researching I am also learning something that I can put in my brain database for another day.
Not only am I researching the items for sale from the vantage point of receiving the most appropriate amount of money, I am researching the item for sale so that I can sell it to the public. I always say “you can’t sell what you don’t know”. Many times I have to educate the buyer as to what thy are buying. It is important that I speak from authority about the items I sell.
All of these issues go to the bottom line – I have sold the items correctly, my client is happy, my customer is happy, and I am compensated fairly. Happy Researching!
Estate Sales News is excited to share the new features and advertisers joining us starting tomorrow, April 1st here on the Front Page.
Our newest advertiser is Estatesale.com a website that lists over 3500 estate sale companies (and growing) and advertises estate sale companies, estate sales, tag sales, and moving sales. They offer free email notifications of the estate sales on their website and are based out of Roaring Spring, Pennsylvania.
Our new monthly guest author is Judy Martin, ISA CAPP from Wheaton, IL. Judy wrote the article that is part of Estate Sales News about what is USPAP! She is the past President of the International Society of Appraisers (ISA), a nationally known appraiser and speaker and she along with her daughter Kate offer ISA appraisals, estate liquidations and own a high end consignment shop, The Perfect Thing in Wheaton.
Estate Sales News will also be offering estate sale companies only SEO consultation and a tab to access this information needed is on the top right side of our Front Page.
You can subscribe or register with us on the upper left side of the Front Page to receive newly published articles and you can follow us on Facebook, Twitter, Google+, Pinterest, and YouTube.
We are passionate about estate sales and the estate sale industry and we thank you for being part of our audience.
Baby boomers are moving in record numbers and many are downsizing as retirement time has arrived. Knowing what the best answer is for you to liquidate your unwanted or no longer needed items depends on your understanding the difference between an estate sale and garage (yard) sale.
An estate sale sells the greater part of the contents of your home. Usually it involves selling the items within the home. Most estate (or sometimes called a tag) sales are conducted by professional personal property liquidators – an estate sale company. They sort, organize (or stage) the contents within the home, price, advertise, and conduct a sale lasting two, three, or four days. Many also offer clean out services as well for an additional fee. Estate liquidators are experienced with selling household items as well as antiques, art, etc., however, when in doubt they research and may call in an appraiser to assist them with the proper description and pricing.
A garage sale involves selling miscellaneous household and garden items, usually takes place in the garage, on the driveway, or on the yard and are held for one or two days. The sale is usually run by the owners and they set up the items, price, and sell them. The items being sold are generally low in value.
One key difference to mention is where they are advertised. Estate Sales are advertised on estate sale listing websites, estate liquidator websites, social media, and print media. Garage/yard sales are usually advertised by hand writing on poster board tacked up on poles, (where permitted), in a local newspaper, and on occasion on websites specifically for yard or garage sales.
Another difference that is often overlooked in articles and discussions is negotiating. Estate sales usually will not negotiate the first day of the sale and most have a policy for discounting while garage sales usually have people making offers from the time the sale starts. Estate liquidator also have policies in place for entering the estate sale (numbers, list, etc.) while folks waiting for a garage sale usually just walk up and start looking across tables of items and may even poke through items not yet unpacked.
If you aren’t sure which type of liquidation will meet your needs speak with a few estate liquidators and explain what you are doing and what you have to sell. Most will welcome your call and the result could generate financial gains more significant at an estate sale than you would have received had you chosen to go with a do it yourself garage sale.