Category Archives: Estate Sales Costs
Cancelling An Estate Sale Contract Can Be Costly For Sellers
Cancelling an estate sale contract can be costly. It isn’t a simple matter of deciding to use another liquidator or do it yourself.
An estate sale contract is an agreement between owners, heirs or an estate attorney and an estate sale company. The estate sale contract details what is required of both parties in the transaction.
When an estate sale company has begun working on a sale they have many costs involved. This includes labor, possibly using dumpsters for trash, advertising, transportation, permits and more. They have given up their business time to conduct your sale while someone else needing an estate sale may have been turned down.
A cancellation clause in a contract protecting the estate sale company has become a necessity almost everywhere today.
This clause details as a seller you will be expected to pay for and how. Many estate liquidators now charge an upfront fee to begin work on your sale. Similar to an attorney’s retainer fee. This money is usually reflected and deducted on the final accounting of the sale.
It is becoming increasingly apparent that many sellers allow estate sale companies to come in sort, clean and prepare for a sale and then cancel leaving estate sale companies out thousands of dollars.
It would not be unusual for an estate sale company to take a seller to small claims court or further depending on the accountable amount of expenses incurred by the estate sale company.
If you have doubts or concerns about using an estate sale company, the time to ask and decide is before you sign the contract. If you want a less expensive company to handle your sale, hire them, not the more expensive one who does the work and then is cancelled.
Estate sale companies support themselves and their staffs. This is “not a hobby”. This is a profession and sellers should recognize this work as such.
If you are thinking of cancelling your estate sale contract, think twice. It could be a costly proposition and stressful experience for you. Estate liquidators work to lessen your stress and help you profit as the market will allow.
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 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 Liquidators Wear Many Hats With Expertise
Estate liquidators wears many hats with expertise in a variety of fields associated with the liquidation of personal property.
Personal property liquidators are individuals earning a living as entrepreneurs. They do not work a five day a week job from 9-5. Estate liquidators require time management ability, motivation, dedication, knowledge, marketing skills, and more. They must determine their schedule, time, and requirements for each estate sale.
An estate sale liquidator must know and understand what the estate sale process is. Liquidators need knowledge in selling personal property. Estate sale company owners will work endless long hours and weekends. Often with no days off for weeks at a time.
Estate liquidators need to be a business person, salesperson, and negotiator. Liquidators have to be able to handle any situations that arise during the sale.
Exciting Estate Sales Coming Soon
Exciting estate sales will start taking place after this 4th of July weekend.
One of the estate liquidations will be the third week of July in Newton, Massachusetts by Trilogy Estate Sales of a famous chef. This estate sale made in the Boston Globe.
EstateSalesNews.com is taking a long weekend starting today to celebrate our Independence day with family and friends.
We will return Tuesday, July 5th. Until then we would like to offer you the following links to our archives to answer and help with questions you may have.
700 plus articles are available to you 24/7 and we encourage you to utilize them to provide estate sales information, tips, and news.
Have a happy and safe Independence Day. We thank all those who have and continue to keep us safe and free. EstateSalesNews.com loves the USA.
Pricing Estate Sale Contents Is Important
Pricing estate sale contents is important and can be challenging for estate sale companies.
Whether you are selling contents in Chicago, IL, Los Angeles, CA., Summit, NJ, Orlando, FL, or Detroit, MI. your prices will reflect the geographics of your location.
For estate sale companies where and how to research is important and for estate liquidators that starts with experience and knowledge in the personal contents liquidation business.
Years ago estate liquidators bought books by the dozens for everything from art pottery to Victorian furniture, general items, antiques and collectibles. Each year estate liquidators would buy the most recently published books for research, however, geographic locations were not included in these books.
Now with the internet, research is available at your finger tips. This doesn’t just include eBay. Estate sale companies have the ability to look at what other estate liquidators in their area are selling on such websites as EstateSale.com and others. The can also look at the prices on AuctionZip, Worthpoint, and other auction and resale websites.
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.
Estate Sale Contracts Are Commitments
Many people moving, downsizing, or selling off a family home, fail to realize that once you have signed an estate sale contract it is binding just like any other contract. You have committed to an estate sale company and they have committed with you. For this reason it is important to you as a seller that you understand the contract and ask any questions. Do not feel hesitant or intimidated to say I don’t understand this clause. The estate liquidator wants a clear understanding between you both and a good working relationship.
Estate sale companies are discovering (especially in packed homes) that sellers are coming in after they begin their setup, and remove items they hadn’t seen in years. This is not the way it works and most estate liquidators have a clause in their estate sale contract that says they may charge you a full commission on any items removed.
What Is Vintage And Why It Is Estate Sales Hot Sellers
If you have been retail shopping you realize that what’s old has become new again. A few months ago we wrote about the return of stereo turntables, vinyl records, and cassette tapes.
We have been looking at estate sales across the United States and have found several interesting vintage items from a wringer washing machine to a 1967 vintage camping trailer.
Vintage has become a generic term for anything that has been used in years past, but does not qualify as an antique. Most items date from the 1930’s to 1980. Mostly in the mid 20th century.
Antiques are items approximately 100 years old.
Let’s look at some vintage items that are for sale at estate sales now or in the near future. Many people have appliances restored or repurpose them.
To view more vintage items please visit EstateSale.com EstateSales.org EstateSales.net
