Category Archives: Learn About Estate Sales
Estate Sales News searches the internet daily for anything new in the estate sale business and we are finding more and more sources offering advice about estate sales, from how an estate sale works, how to choose an estate sale company, estate sale contracts, pricing, staging, clean outs etc.
It is vital for perspective estate sellers to find their information from sources that have had experience in the estate liquidation business or were at some time estate liquidators. Books have been written about how to hold your own estate sale by book authors and estate sale liquidators. Why an estate sale liquidator would want to tell you how to hold your own estate sale would appear to be a means of making money selling books and persuading you that you need to hire an professional estate liquidator (perhaps them).
Hiring a professional estate sale company is like hiring a Realtor to sell your property or an attorney to draw up a will or prepare and read through legal documents. You hire them because of their expertise, experience and knowledge in their specific field. The same applies to hiring an estate sale company.
To learn about estate sales begin by talking to anyone you know who has had one. Use the internet to find articles written by estate liquidators and others in the estate sale business. Follow up by looking at estate sale listing sites and associations. They can offer further information. You will also be able to find estate sale companies in your area and then you can begin the process of looking at their liquidators current estate sales or events and any internet reviews. Keep in mind that some buyers and sellers may post an unfavorable review and it may be wise if only one or two to call the estate liquidator and speak by telephone with them about these reviews.
Many articles are appearing on the internet written by authors who write on a variety of subjects that their assistants research for them and they then publish. This may be a newsy article, but nothing replaces first hand professional experience and knowledge of the process in this very complex industry.
An example would be what is happening with the sale of ivory and taxidermied endangered species including foul, fish, and other wildlife. These are state issues and may also be federal issues depending upon the items.
However you learn about estate sales, make sure to thoroughly review not only the information provided, but the sources that the information comes from.
EstateSalesNews.com works weekly to provide up to date information and we hope you will continue to use us as one of your primary resources to learn about estate sales.
Many companies are holding estate sales this weekend even with the holiday.
Drive with care and enjoy this weekend.
Estate Sales News reported last week on the continuously increasing number of estate sale listing sites and the off shoot businesses associated with this growing industry. All of these businesses encourage creative and innovative individuals to establish new estate sale companies. As with any exploding growth industry come growing pains. This also applies to the estate sale industry.
Encouraging entrepreneurship is what has made this country great, however, it brings with it the issues associated with an ever enlarging industry.
For example in 2007 there were 7 estate sale companies listed on the only estate sale listing network site in the country in northern New Jersey. Today the number of estate liquidators exceeds 100 companies. With such rapid growth come expansion problems and these affect sellers, buyers, established estate liquidators, and new estate sale companies.
Some estate sale start up businesses see the estate liquidation business as non-complex, but in fact it is the exact opposite. Estate Sale Companies require those owning and operating an estate sale business to have experience and knowledge of personal property, crowd control, pricing, staging, coping with difficult situations (buyers and sellers), the ability to sell, marketing and social media skills, estate sale contracts that protect all parties, clean outs, and theft protection to name some of the more important skills. It also requires a commitment of time and plenty of energy.
Estate Sales News has recently been contacted by several start up companies asking questions from advertising to what to charge as a commission on various items.
If you are going to start an estate sale business it is best to have apprenticed with a reputable estate liquidator first to learn the basics including much of the above. You can educate yourself through an association with the American Society of Estate Liquidators.
Dealing with difficult and/or complicated sellers and buyers requires finesse, but it also requires confidence that your actions and decisions are correct and that is gained through experience.
There are great new estate sale companies across the country, but be sure if you are interviewing any estate liquidation company, you ask about their training and/or apprenticeship, experience, and how long they have been involved with the estate sale business.
As the estate sale industry continues to enlarge by leaps and bounds estate liquidators are choosing to what types of sales they want to handle. This applies from the east coast to the west coast and from the north to the south.
Some estate liquidators prefer to handle only high value estates (designer furniture, gold and silver jewelry, listed art and glass etc.). It means they handle fewer sales, but they expect greater financial returns for the seller and their commissions. Many other estate sale companies work with the average house contents (furniture, kitchenware, lawn and garden, clothing etc.) They may hold more sales, but they too provide a much needed service. Then there are companies that will work from a 1 day sale (usually a partial contents) to a 3 or 4 day sale including a hoarders house.
Whatever company you choose, ask how they obtained their experience and knowledge.
Remember that retail prices do not apply to estate sales. It’s like buying a car, once it leaves the lot the price declines. Unless it is a one of a kind, extremely unique or a rare antique, it will not bring the price you purchased it for.
How your items are priced will determine how successful your sale is (that is not to suggest anything be given away in price), but it is important to price right. That also does not mean that eBay is the only source for prices. There is a host of available data on the internet to assist with pricing not the least of which are professionally trained certified personal property appraisers.
If you have just a general contents home or property find the estate sale company that will be competent, knowledgeable, and excited to bring you financial success.
Remember it isn’t what a company sells, it is how well they succeed at what they are selling.
On May 1st, 2014 News 4 WYFF Greenville County S.C. reported about an estate sale company that did not pay for the proceeds of a sale until they began to investigate. Here is the LINK.
This article was distributed across the internet as a Google Alert. It was written by Gabrielle Komorowski. Although the estate sale owner has promised the seller to make good, having such an experience is stressful and unnecessary.
This article reminds readers to check out the company they are choosing thoroughly. They suggest the BBB (Better Business Bureau), however, the editor would point out that BBB’s can differ from area to area and state to state, so speaking with former clients is still one of the most important ways to determine the reliability and honesty of a company.
When you speak with former sellers ask about the entire process and how long it to receive their proceeds. Knowledge is empowerment.
The majority of estate sale companies working across the country are honest, reliable companies that provide a valuable service. Unfortunately there are a few that are not as reliable or as forthcoming.
When you are choosing an estate sale company, check out these website as well for reviews; Yellow pages, Yelp, Google, Yahoo, Bing, Merchant Circle, and others.