Tag Archives: estate liquidation
Estate Sales Nitty Gritty Downsizing, Moving, Estate Liquidation
Estate sales handle the nitty gritty of downsizing, moving and estate liquidation.
Recently the New York Times and other publications have written articles by non estate liquidators about this necessary and booming industry. Much of what is discussed could be called fluff.
Whether downsizing, moving or liquidating an estate there is much more to it than just sorting and making charitable donations.
The goal of the estate sale is to reduce or eliminate personal property, Trying to give the seller(s) or heir(s) some kind of monetary return on their past purchases or gifts.
Many estate sale companies have trained staff specifically trained to work with the elderly, but the business of liquidation is still the same.
Helping people part with years of accumulation is not an easy task. Emotional attachment comes into play. A third party without attachments is often beneficial.
It is important when the time for liquidation comes, unless you really don’t want to receive any monetary compensation, donating should be left for after the estate sale.
When interviewing estate sale companies, you should feel comfortable about asking them about their experience working with senior citizens. Ask how they feel about working with families. Especially with loved ones who may be liquidating a family members personal property for medical conditions.
A knowledgeable estate liquidator will recognize items of value that could be donated, but would be more beneficial to the individual being sold.
Many estate liquidation companies are happy to discuss the handling of downsizing or liquidation with emotionally attached family or friends.
The nitty gritty of estate sales is more than just sorting, pricing, advertising and selling. It requires estate sale companies to use compassion and understanding.
Consider these elements when interviewing estate liquidators. Wise choices should make the liquidation process less stressful and hopefully financially successful.
Updated Checklist For Estate Sale Contracts
Here is an updated checklist for estate sale contracts for estate sale companies and sellers.
We are not an attorney, but these items should be included and understood in the estate sale contract.
The estate sale contract should lay out in clear language.
- Name of the estate sales company
- Name of owner/s, heirs, or attorney
- Date of estate sale contract
- Address where the sale is to take place
- Dates the sale is to be held and time
- Dates the estate sale company will be given access to setup and price
- Any items excluded from sale on addendum when contract is signed
- Utilities – electric, plumbing, heating and air conditioning should be working
- Liability insurance for estate sale company
- Homeowner must have active homeowner insurance policy
- Ramifications of removal of items by sellers after contract is signed
- Fee or commission that will be charged if items removed or sold ahead by seller
- Cancellation clause of contract
- Party responsible for advertising and costs
- Who is responsible for obtaining and paying for any permits required
- Cost of sale, commission, fee, any additional sale related costs
- When seller will receive net proceeds and form of payment to be made
- Will seller receive written account of sold items and what it will or won’t include
- Who is responsible for the clean out when the estate sale is concluded
- If estate sale company cleans out any costs associated with clean out
- Any additional costs for appraisals or specific appraisals
- **If needed winter expenses and responsibility, i.e. plowing, shoveling, sand etc.
Visit the top of our front page for Choosing An Estate Sale Company.
Estate Sale Companies Use Research And Knowledge To Price
Estate sale companies use research and knowledge to price your estate sale items. It is amazing what is found in estate sales that require research and where and how to conduct that research.
An experienced and knowledgeable estate liquidator friend recently shared information about luggage labels and baggage tags that have become collectible. The take away is knowing where and how to research these collectibles.
Gaining knowledge and more importantly knowing how to research items is important to both estate sale companies and sellers.
The experienced estate liquidator will conduct research by book, computer, auction catalogue results and networking with other estate sale companies. They will also consult with certified appraisers. Many estate sale companies keep an appraiser on retainer. Especially a CAPP (Certified Appraiser Personal Property).
Having the knowledge to know where and how to research is an important reason for hiring a professional estate sale company. The average seller just isn’t equipped with the knowledge or know how to properly price and advertise their sales. Many times money is lost because of lack of experience or where to research. It’s more than just eBay.
When choosing the right company to conduct your estate liquidation or downsizing sale ask about their experience and how they research. It’s your $$$$ that are at stake.
Preventing Theft At Estate Sales
Preventing theft at estate sales is important as more people attend the sale.
Estate liquidators are hiring off duty policemen for security and safety for their estate sales.
Estate sale companies can use this security to ensure orderly entrance into the estate sale as well as monitor those exiting. The off duty police officer may ask to see your receipt. He or she may also ask to look at the contents of your bags or boxes.
Estate sale staff are monitoring the personal property entrusted into their care. If staff see someone trying to steal or change a price tag, they will report this to the owner of the estate sale company and the security person.
Many estate sale companies that have caught thieves have taken to posting their photos on Facebook to warn others and hopefully prevent further theft attempts. They hope the embarrassment of their photo will succeed when viewed by the general public.
Estate sale companies can prosecute anyone caught stealing. Many use video cameras to monitor their sales.
Estate liquidators are now limiting coats and in many cases preventing pocket books from being brought into the estate sale. In Florida it is not uncommon to see yard signs that clearly say no large bags or purses.
Need Estate Sale Information ?
2016 has seen a surge of estate sales during the first six months and estate sale information is constantly being searched for on the internet and social media. Sellers and buyers are constantly seeking advice, help, and tips about estate sales taking place.
People downsizing, retiring, or just settling an estate are in need of estate sale information about everything from how to choose an estate sale company, what’s selling and why, to estate sale contracts.
Estate sale advertising listing websites are able to answer the questions about what sales are taking place in your community. They show where, when, and what estate sale company is conducting them. Advertising websites offer photos, providing a list from the estate liquidator of what is included in the sale. EstateSale.com is one of these websites. These websites have all seen rapid growth. Websites and organizations involved in estate liquidation advertising or the liquidation education business encourage people to become estate liquidators. Keeping the number of estate sale companies continually growing.
Estate Sales News is a national publication offering sellers, buyers, and estate liquidation businesses the latest news and information. Our articles are about all aspects of the estate liquidation industry and estate sales. EstateSalesNews.com focuses on being a resource to answer your questions providing information from a former experienced estate liquidator.
Estate Sales News has a “free” IOS app download. Whether you are on the road heading to an estate sale or waiting to interview an estate sale company you can find information and help by clicking on our app on your smartphone. You can also find estate sale listing websites with just the touch of your finger and be directed to their main page. We eliminate the need for a general search for these websites. Find them on EstateSalesNews.com IOS app.
Providing information on what’s hot and what’s not, the sale of ivory, sales tax collection, clean outs, estate sale etiquette, entering or negotiating at an estate sale. Showcasing a news worthy estate sale and estate sale videos can be seen. Please look over the multiple categories we offer.
EstateSalesNews.com has social media pages on Facebook, Twitter, Pinterest, and YouTube. Subscribing to us is free and at no obligation.
Happy shopping this weekend at your local estate sales. Saving $$$ and keeping our planet green.
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.
EstateSalesNews.com Celebrates 3 Years Providing Estate Sales Information
It’s been three years since we launched this estate sale website magazine. We want to take a look back at the variety of topics we have covered.
We are also flattered that other websites have been developed to try to provide estate sale information. The difference for you our audience, we were in the estate sale business for 20 plus years. We do not charge you for all the information you find on our website. Others have been websites have been launched that either charge for information or are used to assist another existing website that estate sale companies (that estate sale companies already pay advertising fees for).
We started by discussing what is an estate sale. The definition has changed greatly over the years. We use to call them tag sales, house sales, moving sales, etc. Now for the most part we group them under one banner “estate sales”
When we launched there were about 9,000 estate sale companies. Today the growth continues and we have passed the 16,000 mark.
Estate Sale Companies Advice For Sellers Before The Sale
Recently, Estate Sales News had the opportunity to discuss with many estate sale companies from across the United States what they would advise sellers before the estate liquidation process begins. The advice we were given from estate sale companies is important for sellers and/or heirs to help make the estate sale successful.
Here are the items they feel strongly about and that are of great importance for both parties.
Don’t throw anything away until an estate liquidator has viewed the contents. You never know what might have value. The only exceptions should be perishable foods, used plastic food containers, medications, income tax or personal papers.
Be sure you leave the property air conditioned whether it is occupied or not. Heat and/or humidity can ruin many items. In the winter, be sure that the heat remains on too. Be sure that electricity to the property is on until the sale is over and the estate sale company has vacated the property.
The Evolving World Of Estate Sales And The Liquidation Industry
We continue to watch the estate liquidation business evolve on many levels as 2016 begins with the continuing expansive growth across the United States. With over 15,000 estate liquidation companies and counting, there does not appear to be any slow down in sight.
There are estate sale listing websites and other sites now encouraging people to become estate liquidators and some even providing them with their recommendation for education. They are branching out to become a portal for the estate sale business and any other types of liquidation services; i.e. auctions, online sales, private sales, or business liquidations. The platform for some of these websites has grown exponentially to even include offering estate sale companies that they have vetted based on their criteria. Each organization, association, or society has their own vetting criteria.
This growth has seen several off shoots including educational sites, sites that teach the use of social media, and also companies that offer to provide social media services for estate sale company owners that do not have time to produce their own social media marketing with the increasing number of sales their company is handling.
A few years back the terms “bonded and insured” was what many sellers sought out in an estate sale company, however, today bonding is not important compared to having liability insurance.
More estate sale companies are also choosing to have an on staff appraiser, (ISA, ASA, or CAGA) and many have some or all of their staff professionally trained in working with seniors transitioning. The baby boomer generation is on the move and is responsible for a lot of the growth in the estate liquidation business.
Estate sale owners are more engaged with photography, videography, and staging with the importance they play in a competitive market. Many have attended schools, seminars, or taken online courses to become proficient.
Even books, guides, and magazines such as EstateSalesNews.com have emerged from the growth in the liquidation industry.
Take a look at the number of estate sales on starting tomorrow in many places and you can appreciate how times have changed in just a few years.
With all of this you can save $$$ and have a variety of choices of merchandise and places to shop so look for these estate sales and get shopping and saving.
