Category Archives: 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.
Starting with the numbers handed out. They were on preprinted cards. The card also included their website, reminded them to sign up for emails from them and on this card included the address of the property. As you entered the property they were collected and no one could mistake which numbers were the official ones for the sale.
They also passed out a printed 8×11 black and white sheet of paper with each room of the house listed including the basement and garage and what major items you could expect to find i.e. dining room – china, dining set, figurines (elephants, frogs).
This guide certainly simplified where to go for the items of interest.
Before the door opened for business the gentleman running the sale came out and spoke with the crowd of people waiting to get into the sale. He asked trivia questions, talked about the sale and made the opening quite pleasant with most everyone waiting (over 100) in a happy and friendly mood.
Setting the stage for an estate sale is almost as important as staging the interior.
Being a professional from start to finish impresses sellers and buyers.