Category Archives: How Do Estate Sales Work

Estate Sales Are Creating New Businesses – ThrowBack Thursday To 2000

It seems that every week we receive press releases or Google Alerts about new businesses being formed around “estate sales”.

From franchises for liquidators, to new estate sale listing websites, to associations and societies for estate  liquidators, and other businesses such as clean out companies, relocation services, there is an endless generation of businesses, not to mention the daily growth of more and more estate sale companies. These services and many others are being created for the growing number of baby boomers retiring and the desire to become an entrepreneur.

What started in the early 2000’s with one estate sale listing company and one small association created by a veteran liquidator that had written a code of ethics and online courses for becoming an estate liquidator, we now have explosive growth in the estate sale company business.

So many websites offer you the opportunity to locate an estate sale company through their website having researched these liquidators and signed a code of ethics or agreed to a list of good business practices.

All of this brings to the forefront the absolute need for you – the perspective seller, to do your due diligence. We are unaware of any company or group that has any authority other than to chastise and remove a company from their website and list. We encourage sellers to read and research through these various companies for estate liquidators, but the final choice and what you need should be based on conversations with prior clients of the individual estate sale company.

What’s Selling At Estate Sales? California To New York 1000’s Of Sales

Many are starting today, but estate sales are everywhere. Let’s take a look at some of what’s out there. To see more of what’s in these estate sales click on the location and date. So many fascinating sales and interesting items. Truly something for everyone.

Staten Island, NY May 29

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Palos Verdes Peninsula, CA, May 28

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West Bloomfield, MI, May 28

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LakeBluff, IL, May 29

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What Is and Isn’t Important When Deciding On An Estate Sale Company

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 carol@estatesalesnews.com We welcome your questions and comments. Please visit us on Facebook and Twitter and check out our Pinterest page.

Not All Estate Sales Are Created Equal And They Don’t Need To Be

Estate Sale signThousands of estate sales and thousands of estate sale companies, and everyone is different in some way.

Many estate sale companies do not want to handle the small sales (under $5,000, in some areas of the country that could be $10,000). Don’t feel insulted or hopeless. There are so many estate sale companies out there with some good researching you should be able to find a reputable company that can help you.

There are several reasons estate sale companies are carefully choosing which sales they will handle. Many estate sale companies have full time staff (a cost of $10/hour or more per employee), liability insurance, licensing (if required in your area) the cost of advertising (if the companies are listed on all three major estate sale listing websites – Estatesale.com, EstateSales.Net, and EstateSales.org), the monthly costs are significant. Many estate sale companies spend an average of $5,000/month just on maintaining advertising and visibility on the internet. This can also include Facebook boosts and Twitter.

There are estate sale companies that also handle online auctions as well, so you have to decide how you want your personal property disseminated. It is important to keep in mind that unless the items are rare, or unique, the value is similar to what happens at a used car lot. Once driven off the lot, the value decreases and for some, if they are moving or downsizing just eliminating their belongings is what really counts.

When you telephone estate liquidators ask them if they only take sales with minimum values. Don’t feel offended, remember this is business for them, and there is someone out there for you. It may require a little more investigation.

You may also want to look at the estate sale listing sites above to see what companies are showing for their current sales.

What’s Selling This Week At Estate Sales?

This week there are a variety of interesting and collectible items at estate sales across the country. Please let them know you saw their photos and learned about the sale on EstateSalesNews.com. We are passionate about estate sales.

Rochester, MI May 14th

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Bellefonte, KY, May 14

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Aubrey, TX, May 15

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Silver Lake, Los Angeles, CA, May 13

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What’s Selling At Estate Sales? Accordian, Vintage Coke Machine, Rings

Here’s a look at what’s selling this Mother’s Day weekend.

Panorama City, CA May 9

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Brighton, MI May 8

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Orland Park, IL May 7

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To find estate sales check out these websites. Please tell the estate sale companies you visit you reading EstateSalesNews.com Passionate about estate sales.

Estatesale.com

EstateSales.Net

EstateSales.org

The “Cost” Of Conducting A House Or Estate Sale, By Judy Martin, ISA, CAPP

Judith Martin, ISA CAPPJudith Martin, ISA, CAPP.

Lately, I have been thinking about the “COST” of conducting a house sale. What does it take financially to conduct a sale in someone’s home.

Starting with payroll, in order to have a staff that can work fast and hard both in the set up and the selling of items the conductor needs to pay them a reasonable wage. If you begin at minimum wage – $10.00 per hour and the employee works for 2 days setting up at 6 hours per day as well as two days of the sale at 8 hour minimum, that makes each employee’s wage $200 for the sale. This of course is a sale that is easy to set and sell. If the sale is a large one then you have to figure the payroll just goes up and up. But for this example I am going to use a simple sale – 3 employees (not including the principles of the company) x $200 for the sales is $600 payroll.

Next you will need supplies – a set of 5 non carbon sales books cost $14 approx. You might need 10 total for sale. Plus you need pricing stickers – a pkg of white removable stickers cost $7. each. So for this purpose, a trip to the office supply store will cost you $80.

Then you have to consider the town you are working in – is there a permit needed. Did you cover in the contract that the client pays the permit? If not, that cost can be $60 per sale in a town that requires a permit, such as Oak Park, IL. There goes some more money out of your pocket.

If this is a new business for you, you will need table, cloths, display items, string tags, secured diplay boxes (so your shoppers cannot help themselves) – all costing you more and more money.

And what about after the sale – what does it cost you to get all the items out of the house? How many hours of labor does it take to wrap and take the items that are saleable. How much does it cost to have the refuse taken away? How much does it cost to have a person stay and sweep up after everything is removed? And who is removing the items? A moving company or you in your own vehicle. This all costs money!

Oh, and of course you have to consider the cost of advertising. If you belong to a website, there is a monthly fee for that. If you have a special sale then that cost just went up from maybe $100 a month to an additional $200 just for this one sale – all costs against your profit.

All of these fees and costs do not inlcude: databases you subscribe to, books you buy for research, t-shirts or uniforms you might use, phone service, credit card fees, bank fees, gas, tolls, and all sorts of items you have to take into account when figuring out what commission to charge so that you actually might make some money to put in your own pocket.

The estate sales business is not for the faint of heart. It is also not a charity, it is a business – you are intending to make a profit. When you consider what to charge as your fee, you must consider all of these things and more.

Where To Find Estate Sales?

Estate Sales News is “the” online source for estate sales information (contracts, staging, choosing an estate sale company, how to interview, what to expect, pay out, clean out, and more) news, help, tips and where to find estate sale companies and estate sale listings.

Click on the links below to find 1000’s of estate sales.

Estatesale.com

EstateSales.Net

EstateSales.org

ThrowBack Thursday – Real Life Rosie Riveters – American War Heroes


ABC Breaking US News | US News Videos

“We Can Do It”  – Our tribute to all the Rosie Riveters and the passing of the model for Norman Rockwell’s Rosie – Mary Doyle Keefe.  Thank you all from Estate Sales News.

What’s Selling This Week At Estate Sales?

Many estate sales are starting today or tomorrow. Here’s a peek at some and include click throught links for you to look at the entire sale. If you are considering an estate sale, this is an excellent opportunity to visit a sale and see how the estate sale company works.

Tomorrow in Burton, OH Fine America Antiques

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Packed Home in Inverness, IL. Starts April 24

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Chino, CA Sale Starts Today

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Southfield, MI Sale Starts Tomorrow Mid Century Art

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