Tag Archives: estate liquidations
Estate Sales Information And Topics
Estate sales have so many topics to cover and information to be discussed.
This Sunday in Chicago I will be speaking at the International Society of Appraisers (ISA) Conference about estate sales. So many topics to cover in a short time, but I hope this will be informative and lead to an educational exchange of ideas and information. Appraisers are important to estate sales and estate liquidators, but the same can be said for the importance of estate sale companies and appraisers.
The estate sale business has grown into such a large small business industry, that the number of topics and information needed to be successful requires continuous reading and education.
Since I retired from the estate liquidation business in 2011 much has changed.
Todays’ estate liquidator has to be concerned with the sale of ivory, liability insurance, disposal of hazardous materials, permits, mold, better security, greater use of social media advertising, where best to research items of value or the unknown, and how to do time management and the list continues and grows.
There are many sources for information on estate sales available on the internet. We feel you should not, however, pay for that information. Buyers and sellers should be able to obtain reliable, knowledgeable and useful information for free. If you are obtaining it from any source that also collects fees from estate sale companies question what you are learning if you too pay for this information.
EstateSalesNews.com celebrated our 4th anniversary this month. Although we have a small variety of diverse companies paying for advertising, this is to help defray our cost for our website out to enable a free resource for buyers, sellers, estate sale companies and the estate sale information and the topics we cover.
We encourage you to sign up for our newsletter, utilize our free RSS feed if you are an estate sale company and follow us on Facebook and Twitter. We also have a Pinterest page and videos on YouTube.
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 Sales Help For 2017
EstateSalesNews.com for 2017 has offered estate sales help for almost four years now.
We have covered almost any topic you could think of.
As we enter the winter season for much of the country let’s do a general review.
Sellers – How to choose a estate liquidator, do your own due diligence, what to expect and what not to expect, estate sale contracts. Over 100 topics to think about and consider as a seller.
Buyers- Buyers etiquette, where to find estate sales, how to enter an estate sale. Having an estate sale kit and what to bring to an estate sale, and how to negotiate to with estate liquidators in an unoffensive and successful way.
Estate sale companies – What to include in an estate sale contract, how to work with sellers that don’t understand the liquidation process. Where to advertise your estate sales. Using social media to be found and get your message out. Working and networking with other liquidators and appraisers. Where to list your estate sales. Working with a website.
We have also covered estate sales of the rich and famous.
All this information is in our archives along with videos and is free to assist you.
Our goal is and has been to educate and inform you without cost and provide answers and solutions. Liquidating personal property is a stressful experience whether you are downsizing or selling off a loved ones belongings.
Estate sale companies wear many hats and the experienced companies that have great reputations understand what is required for success for all parties.
We hope that as the number one internet source for estate sale information we provide you with the estate sale help you need. We no longer liquidate estates, but we use our twenty plus years of experience to hopefully guide you in the liquidation process.
We welcome your thoughts, comments and suggestions. Please email us at carol@estatesalesnews.com. We will respond as soon as possible.
Estate Sales Versus Overstock And Wayfair
Why buy at estate sales? With Overstock and Wayfair and the ability to order on line they offer the convenience of shopping from your couch. However, nothing compares to hands on.
Buying at an estate sale allows you to thoroughly look over the items you wish to purchase. It also allows you to measure for fit or size.
Kitchenware, dishes, glasses, and linens are available at most estate liquidations.
When you buy at an estate sale you take the item home that day in most cases. You also do not have the opportunity to return items, as sales are final. The ability to look over your purchases closely before buying does allow you to avoid regret later.
Garden tools, yard maintenance equipment, even potted plants can be purchased at estate sales.
Understanding The Estate Sale Process
Understanding the estate sale process is very important as the liquidation business continues to grow.
Estate sale companies cannot commit until they have seen everything you are selling. The company needs to decide if there is enough in the sale to make it profitable for them.
Estate liquidators have many expenses such as insurance, staff, supplies, security and the time needed to prepare the sale. Liquidators have to include their advertising costs to compete with the growing number of estate sales.
Sellers hiring an estate sale company should recognize that they have a multitude of expenses. Working to create a successful sale for you to the best of their ability requires knowledge and marketing experience.
Estate liquidators also need empathy in many cases for clients.
A strong estate sale contract that protects and explains the estate sale company obligations and the sellers obligations is very important in the process. Many estate sale companies have their contracts prepared by attorneys.
The estate sale company may have a membership in associations such as the NAOEL. These associations and societies charge a fee to join and a yearly fee for membership. They also provide education that they charge the estate liquidator for.
The estate sale company incurs the cost of excepting charge cards. Fees are accessed and each company decides whether to charge them to a seller or absorb them. This may be part of their commission. Each estate sale company is different.
Sellers should understand what is required to prepare and conduct a sale. Reviewing the estate sale process with any estate sale company you are interviewing is important to avoid future misunderstandings.
Items That Can Be Sold At Estate Sales Are Often Overlooked
Items that can be sold at estate sales are often overlooked. Consider some of these suggestions.
Stair lifts, walkers, crutches, canes, and home health aides (that are sanitary) may be missed opportunities to be included in an estate sale.
Estates being settled for heirs may include refrigerators, or unattached appliances. New or almost new washers and dryers are appliances that can be sold at an estate liquidation.
Customers at estate sales will usually purchase cleansers (used or partially used), draperies and curtains. Gardens are also a great source with decorative ornamentation, and plants. Especially in warmer climates where plants grow year round.
Buyers that enjoy crafts and hand work items such as knitting needles, yarn, needlepoint patterns (still packaged or partially worked on), and sewing items will look to see if any are included in the estate sale.
Partial sets of towels, sheets, and blankets are also marketable.
Lawn tools, snowblowers, leaf blowers, lawn mowers, and grills are other items for sellers to decide on. Sellers relocating to areas that do not require these lawn items will probably sell. Each situation for a seller is different.
Consulting with an estate sale company before anything is thrown out or given away is important. Sellers or heirs want to assure that none of the items mentioned above and other personal property are not discarded.
People disposing of estates or moving are not always aware of items that can be sold. Every item sold at an estate sale counts financially.
Estate Sales In Summer Are Not Garage Sales
Estate sales in summer are not garage sales. During the summer it is easy for shoppers to think that because an estate sale is being held in the summer months this should result in lower prices.
An estate liquidation is not the same type of sale as a garage or yard sale. Estate sale companies are professional liquidators.
A garage or yard sale is not run by a professional liquidator. Garage and yard sales are run by homeowners or tenants looking to eliminate accumulations of items no longer wanted.
A seller(s) hires a professional estate sale company to liquidate their contents. Estate liquidators understand the value of the contents of a home. Items will not be priced in nickles, dimes or quarters. Seller(s) expect them to obtain the current market value in their community for their belongings.
Estate sale companies may use Craigslist to advertise their sale, but that does not classify it as a garage sale.
Reaching the broadest audience possible is the goal of estate liquidators. This could be listing estate sales on advertising listing websites such as EstateSale.com and/or other advertising listing websites. It may also include Facebook, Twitter, Instagram, Google+, and Pinterest. Most estate sale companies also have their own websites.
Information On The Estate Sale Business?
During the last three years EstateSalesNews.com has been writing and providing information on the estate sale business. We have report news and information on a wide range of topics for buyers, sellers, and estate sale companies.
We share our news and information on Facebook, Twitter, and Google+. We have created 49 boards on Pinterest up to now to focus on news worthy estate sales, videos, and of course the great things found at estate sales from vintage to antique and new to repurposed.
For buyers we have discussed estate sale etiquette, the different types of entry estate sale companies use (sign up sheets, numbers, a well formed first come line), how to approach a liquidator about a discount, where to find estate sales, forms of payment accepted at sales, what to look for in signage such as all sales final, no exchanges or no refunds. We have discussed what to take with you to sales such as packing material, flashlight, magnifier, and even how to organize your route.
Sellers we have provided a printable step by step sheet for how to find, interview and hire an estate sale company that provides you with a feeling of trust, honesty, and integrity. Here is the link (also at the top of our front page) to answer the questions of sellers looking to hire an estate sale company.
Estate Sales Costs Evolve Over Time
One of the largest generations in our history, the baby boomer generation, has helped to create a boom in the estate sale industry, changed the way estate sales work, and the costs associated with estate sales.
Ten years ago holding an estate sale you payed a commission to an estate liquidation company or a flat fee and possibly paying an outside source to provide a clean out after the sale. The commission or fee was set by the estate sale company and was the same for almost every sale they conducted.
Not so today. The majority of estate sale companies now carry liability insurance, important for them and sellers. Workman’s compensation is also an expense for hundreds of estate sale companies. Estate sale companies that hold more than one estate sale per week or handle large content sales have had to add staff to handle the volume of sales they are working, advertising has gone from placing an ad in the local paper and hand made signs to marketing with estate sale advertising websites such as EstateSale.com (including featuring large or unusual sales an extra cost. Each estate sale adverting website is different and has varying costs), Facebook (and boosting the post for the sale) professional signage, brochures, memberships in associations, email targeting lists, and clean out costs either by the liquidation company or a company that specializes in clean outs of property.
Valentines Weekend Will Have Some Fabulous Estate Sales
For all you estate sale buyers out there this Valentines weekend is going to be a great time to get out and shop at thousands of fabulous estate sales.
Estate sale companies across the country are preparing their estate liquidations at full throttle. Sorting, staging, pricing, marketing, and getting ready for the large lines that will be forming and eagerly waiting to buy.
Estate Sales News will be showcasing a sampling of these estate sales tomorrow.
Now is the time to start checking out estate sale advertising websites such as EstateSale.com, EstateSales.org and EstateSales.net.
Prepare your estate sale kit with bags, boxes, wrapping paper and/or bubble wrap, flashlights, latex gloves, a magnifying glass or loop and handiwipes along with a bottle of water.
Wherever you’re estate sale shopping being ready will save you time.
