Tag Archives: estate liquidator
2017 is ushering in new challenges for estate sale companies.
New liquidation firms (auction houses) in particular are expanding to meet the constantly changing requirements of liquidating personal property.
Many auction companies have been servicing the public selling their personal property, however, bigger auction houses are now becoming engaged with liquidating personal property that they otherwise would not auction off.
Once again the term vetted is being used, but the question is who sets the vetting requirements and standards? With no national requirements it is important that sellers ask in depth how a company determines what vetting requirements they have and how they arrived at them.
Many associations require specific requirements from their members, however, this is not a national or state regulation. USPAP – used in appraisal (mainly real estate, but also for appraisers of personal property) is one of the few regulated requirements. Please see the USPAP article in our archives by Judy Martin, ISA, CAPP. Just type in USPAP in the search area on the left side of the front page.
Estate sale companies are challenged by these new firms entering the market place. Established estate liquidators have a working knowledge of personal property and the many needs for a successful sale. Auction companies that also sell personal property on a regular basis also understand what is required for them to succeed.
Sellers as recommended several times here on EstateSalesNews.com be sure you do your own due diligence. Take responsibility before you sign a contract with a company that you are satisfied you have asked all the appropriate questions and feel trust and confidence in the liquidator you are hiring. It’s your financial bottom line.
Where to find an estate sale company? Your editor had a friend contact her recently about finding an estate sale company who works in her area for another friend.
I advised her I did not know anyone, but would work my estate sale networks.
We are waiting to hear back now, but some thoughts about this.
When asking the members of the networks I belong to I asked them if they “know” someone. In other words have familiarity with their company and ethics. The way they prepare and handle a sale.
In today’s world with so many companies and associations and organizations offering to help you find an estate sale company it is important to ask the working liquidators to assist in your search.
If you need to find an estate liquidator seek advice from people that know someone personally. People in the estate liquidation industry want to provide good advice. They want to provide you with a qualified, ethical estate sale company. It reflects on them too.
Estate sale advertising websites can only provide you with companies that work in the area by zip code or towns. They do not have the ability to personally know the thousands of estate sale companies that advertise on them.
Use your resources wisely. Ask friends, attorneys and Realtors not looking for renumeration. Realtors cannot accept referrals fees of any kind from an estate sale company. All fees belong to their brokers.
EstateSalesNews.com offers many resources and suggestions on how to find an estate sale company and they are free to all. We urge you to use them.
Be an informed consumer and make a knowledgeable choice. It’s you or your friends financial bottom line.
Estate sale companies cannot be biased.
It is against federal law for an estate liquidator to not permit people based on their race, ethnicity, religion or sexual preference from attending your estate sale.
Estate liquidators that encounter such bias will likely excuse themselves from the interview and exit the property.
Federal law does not permit this kind of discrimination in any business including real estate and estate sales.
Recently this happened to an estate sale company and they immediately left the home.
The only persons not allowed at estate sales are known thieves, persistent trouble makers, people that tend to be physically threatening and those that have passed bad checks or commit credit card fraud.
Although there isn’t any federal regulation on estate sales, there is federal law about discrimination and that affects all businesses.
Having a broad attendance at your estate sale increases the likely hood of achieving success. It doesn’t matter who spends, the important thing is that they spend.
EstateSalesNews.com has not addressed this issue before and we want this to be the only time.
Wishing you a happy Monday.
Time to ask the question where does estate sale experience come from?
More organizations, associations and societies are entering the estate sale field.
The question arises, where do they get their expertise in the estate sale field from? Some of the owners of estate sale companies are members of appraisal organizations such as ISA, CAGA or ASA. They have completed courses of study by these associations. Have met their requirements including experience, years in the business and a code of ethics and professional conduct they adhere to.
Many estate liquidators started out as helpers or apprenticed at estate sales. A great way to acquire knowledge about personal property, antiques, and art.
Others have taken courses such as the Fine Art course offered by NYU.
Each of these estate sale associations, societies and organizations has written their own code of ethics. There isn’t a national code of ethics or a state code of ethics.