Category Archives: Professional Liquidators
Importance Of Liability Insurance For Estate Sales
The importance of liability insurance for estate sales has become a necessary cost for estate sale companies.
With thousands of estate sales, thousands of estate sale companies and baby boomers moving or downsizing at an increased pace, estate sale companies need to protect their businesses.
The world has become a litigious place. Estate sale companies take care when staging an estate sale, but with hundreds of people moving through the occasional incident can happen. The estate liquidator works diligently to keep the estate sale a safe environment.
One company that works with a large majority of estate sale companies providing estate sales insurance is the ACNA (Antiques and Collectibles National Association),
ISA Conference In Chicago On Estate Sales
The discussion of estate sales at the Chicago conference of the International Society of Appraisers was engaging and brought forth many views.
We discussed how ISA appraisers can be beneficial to estate liquidations. The degree of commitment that is required by an ISA appraiser to conduct estate sales. Estate sales are a business not a hobby.
Is an estate sale the right choice for the client. It isn’t just quantity. The best market for some items may be at auction and an ISA appraiser can assist with brokering this. As part of their training they are educated in the larger auction houses across the country.
We discussed how ISA appraisers can work in tandem with estate sale companies in a beneficial manner for both.
Our discussion included how estate sales work. Learning about staging, security, advertising, crowd control were just a few of the topics we touched on. How many hats does an ISA appraiser want to wear.
We also discussed online auctions and franchises. These are two hot topics.
It should be mentioned that online auctions and franchises have found a place for estate liquidators as well as considerations for appraisers.
We were booked for a 1 hour and 15 minute discussion and we ran over our time a bit.
Much information was covered and more will be discussed in greater detail.
Many thanks to the International Society of Appraisers for inviting me and giving me this platform to discuss the wonderful world of estate sales.
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.
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 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.
Working With The Elderly It Is Not Just Stuff
It is not just stuff to an older or elderly person. Someone I know was downsizing her 90 year old Mom to move to an assisted living apartment. She had been there 50 years. With the stress of packing and eliminating what wouldn’t fit in her mother’s new home she spoke of it as just stuff.
It isn’t just stuff to an older person having to downsize. It is a lifetime of memories. Shared with loved ones here and passed. Working with those who have been trained or have years of experience with the elderly is important to prepare them for the moment when delicate decisions must be made.
CRTS and others can teach those estate liquidators how to help ease this heavy task.
Estate sales can sell off much of what cannot go, but it is important to consider a loved ones’ feelings. Stuff implies little or no value. When you are moving out of a long time home many people feel the are leaving treasured lifetime moments.
Choosing words wisely can help assure an elderly or older person that you appreciate the difficulty in deciding what to keep, what to sell or what to donate or give to others.
Estate sale companies trained or very experienced in the eldercare field can be of great assistance helping a family to ease the stress and burden on their loved one. Estate liquidators wear many hats. Consulting with an estate sale company should be done before anything is eliminated or given away to assist families in how they approach the downsizing to assisted living or other care facilities. An estate liquidator will take a gentle third party approach.
Although professionals and others may call it stuff, when dealing with an owner, that is not a wise word to use. No longer necessary, too large, will you really need it, are just a few samples of things you can say with diplomacy.
Consulting with professional estate sale companies can be of great assistance for families and their loved ones.
Just remember it isn’t just stuff. It’s a lifetime to the owner.
Estate Sales – What To Expect, Sellers, Buyers, Estate Liquidators
Today’s estate sale business has grown to the point where people may have forgotten what is expected of them so let’s review some estate sale basics.
Sellers – It is your responsibility to investigate, interview, and hire an estate sale company with a good reputation. There are multiple resources available to you including information right here on EstateSalesNews.com as to how to find a company, what to look for, what to ask, what to expect. If you do not do your due diligence you may not hire the best estate liquidator that is a “good fit” for you. Don’t forget, these people are not trash removers (unless you pay them additional) they are happy to be of service, however, you should let them do the professional job you hired them for and please don’t micromanage. Pay them fairly and if prices don’t quite meet your expectations remember this also effects the estate liquidator. The more money they make for you (especially on a commission basis) the more an estate sale company receives. They can’t control weather, market conditions, other sales in the area that are your competition. Your job after hiring them is to trust them and let them be the professional you hired. You should also write a review on the way they handled your sale. If you’re really pleased, speak out and if you are truly not pleased, speak to the estate company first, then decide about your review.
Buyer – Please use your estate sale etiquette. Don’t go into an estate sale expecting a bargain basement sale. These are personal items (that do not belong to the estate sale company) and they are priced where they are for a reason. If you don’t like the price, ask politely if they are doing any reductions or accepting bids. An estate sale company has a fiduciary relationship with the seller(s) not with you. Please and thank you, wipe your feet, do not shove or push, and please don’t use foul language when attending an estate liquidation. That is the fastest way to be asked to leave and they can do so. You wouldn’t curse in Macy’s or Nordstrom so please respect the professionals running the sale. Prices are set by the estate sale company (after researching) and sometimes by the seller. Unless you are a certified appraiser, the prices are what they are and hopefully you may get a better price if the item doesn’t sell in the first day or two. It is absolutely discourteous and disrespectful to write ranting reviews on any website about prices. You may even find yourself banned from attending any further sales by the company. Please use your MAT (manners and thank you).
Estate Sale Companies – This is a customer service industry. You are trying to make a living off this, but you should be a professional and provide good quality customer service to sellers and buyers. Take the time to become experienced and educated in this industry. Patience and professionalism will be virtues you need every day as an estate liquidator. Reliability, honesty, and integrity are paramount. Make sure your estate sale contract covers all contingencies (you can find info right here on Estate Sales News or email us at contact@estatesalesnews.com) Research your items thoroughly and have a listening ear for your seller(s). This doesn’t mean you need to be a therapist, but hear their concerns and respond with what you feel and know is fair. Don’t be afraid to turn a sale down, work with buyers, but remember be professional and please don’t go negative about other estate sale companies. Let your reputation and record shine.
Estate sales are wonderful and should be fun and the estate liquidation business should be rewarding for sellers and estate sale companies. Not everyone will be a winner, but knowing whether you’re a seller, buyer or estate liquidator that you did your best is in itself a reward.
Tips For Hiring An Estate Sale Company From Estate Sale Companies
There are several sources that offer to provide you with verified or successful estate sale companies. Unfortunately, most of these sources have never conducted an estate sale so recommending an estate sale company is merely utilizing information that they can readily acquire through the internet including BBB ratings (not a true indication of performance), feed back from sellers (written, not an actual conversation with them), the time you have been in business, verification of insurance (this is important), and the number of sales conducted within a period of time (numbers don’t add up to knowledge or success).
These are not what determines a successful liquidation company.
We put the question to hundreds of estate sale companies what they feel is important. Here are the answers we received.
They Are Lining Up For Estate Sales
People are lining up for estate sales and last Tuesday, Estate Sales News reported on a Collector Hoarder estate sale in Chatsworth, CA.
Well here is the opening day line of people for entrance to the sale on Thursday morning, April 7th.
There are over 40 million people in the United States age 65 or over. The baby boomer generation is retiring and on the move.
They are turning to estate sale companies to help them downsize and be able to enjoy their retirement years.
The company that handled the Chatsworth estate sale has been in business over 20 years with a lot of experience by the owners and their staff.
Differences You Should Know Between Estate Sales & Yard Sales
Sunday was the first official day of Spring and that heralds the start of yard and garage sale season, but they are not estate sales. Occasionally when a family divides up the remainder of an estate there may be some leftovers and this is what you may find included in a garage or yard sale, but these aren’t estate sales.
An estate sale will be run by a professional estate liquidator who has gained education and hands on experience, along with possibly an education from some of the liquidation courses offered by various associations and societies.
An estate sale company has a professionally trained staff. They are well versed in marketing strategies to optimize the exposure of your estate sale, they know how to stage or set-up your sale, conduct research, arrive at current market pricing for the contents in your sale and the understand the very important need for security crowd control.
An experienced estate sale company will provide you with a contract detailing what they will do and when including paying out net proceeds and they should also provide liability insurance that covers them.
Whether you are having an estate sale, yard sale, or garage sale, you should have a homeowner insurance policy that is in effect. Protecting your assets is important for all venues.
