Tag Archives: commission

Choose An Estate Sale Company By Reputation Not %

Today there are more than 15,000 estate sale companies working across America. Choosing an estate sale company should be about experience, reputation, reliability and integrity. The very last consideration should be commission or a fee.

Speaking with an estate sale company, asking to see referrals and conversing with them, reviewing their experience.

Seek out reviews on the internet and don’t hesitate to ask the estate liquidator about the reviews, especially those in question.

So many companies have come on line that it is now more important than ever to ask about their experience in the business, how they got into the business and why estate liquidations.

The very last question should be about commission and in the end this is not that important. If an estate sale company does a poor job a low commission won’t help you.

Like any other specialist, estate liquidators consider all their costs, plus the profit they need to make their living and the commission is usually based on that.

When choosing an estate sale company, choose by previous results with others, not what they want you to pay and make sure you sign an estate sale contract that covers everything. Success doesn’t just happened, it is earned and comes from knowledge. Be a savy consumer and choose wisely.

Estate Sale Commission Last Consideration!

The estate sale commission is your last consideration and here is why.

So many estate sale companies have come on line in the last three plus years competition has become fierce. Many new companies try to compete with a lower commission.

When looking to hire an estate sale company, the estate sale commission should not be what influences your decision. Consider the following before you even ask about the commission.

How long has the company been in business? How did the liquidator gain knowledge and experience to sell personal property contents?

Ask about the estate sale company staff and if they have experience.

Advertising is so important with so many estate sales. Ask where and how they advertise. Do they have a private email list of customers that they send to each week?

How do they conduct their set-up and staging.

Do they research for pricing and where do they look for information. eBay should not be the only answer. Experienced estate liquidators know where to research.

Estate Sale contracts – For sellers and estate sales companies

sample contractEstate Sales News is receiving a lot of feed back on estate sales contracts from sellers and estate sales companies so we would like to address the most important issues pertaining to both the perspective seller and the estate sale company.

 

 

 

Let’s start with the perspective seller:

  • Once you have chosen an estate liquidator make sure you have a written contract.
  • It should be specific about the commission or fees.
  • Date of the sale and how and when you will be paid.
  • It should spell out exactly when you will owe a commission. Do not expect an estate sale company to agree to conduct a sale after they have photographed and  started their work without charging you a commission if you pre-sell or withdraw items after the contract is signed and before the sale. Like any other business they have started to work for you and advertise. It is your obligation as a seller to either sell or withdraw items from the sale prior to the signing of a contract. Then the estate sale company has an opportunity to decide whether the contents left will warrant their accepting the sale and they can advertise accordingly. Most estate sale companies will include a clause that says once you sign if anything is removed or sold by you then you will owe a commission on those items.
  • If you are truly not sure about a few (“key word being few”) items then include them on an addendum.
  • An estate sale contract is like any other contract. It is an agreement to perform for both parties.
  • If you are selling a property and the new purchasers are interested, you should inform the estate sale company prior to signing a contract and decide who would best serve your interest. Emotions can sometimes be costly so it may be financially better to let an estate liquidator negotiate for you.

The estate sale company:

  • Your contract with sellers should include several things, including the commission or fees to be charged, dates of sale, what happens when items or sold or removed after the signing of the contract, a cancellation clause, how you will pay the seller and account for items sold, if you charge the seller for advertising or if the seller is paying for the advertising.
  • You should also set out your ground rules. Will you conduct the sale if the seller is present, what about the cleanout, any additional expenses, and very important if the seller sells or withdraws items after the signing of the contract will they be charged and how much.
  • Again your contract is an agreement for performance and it should state what you will do should the seller not abide by the signed contract, but also what you are obligated to do for the seller.

If you click on the contract image you will see a partial contract example. It is simplistic and may not be copied for use. It is strictly for information purposes.

Estate Sales News welcomes your questions and you can write to carol@estatesalesnews.com

One caveat, I am not an attorney so the only advice I will give pertains to ethics and expectations not the legalities.