Whether you were directed to sell your grandmother's estate, per her will, or if you're having to sell your estate due to a nasty divorce, time is of the essence to make all the money you possibly can, as quickly as you possibly can.
In hindsight, estate sales are definitely not events you want to rush through by any means... Estate sales are nothing like yard or garage sales, where you just grab things, set them on a table or throw them in a basket, and put a price sticker on them... Estate sales are more intimate, giving buyers more of an intimate connection to the seller, and the things that meant something to them.
Depending on the reason for an estate sale, it can be an overwhelming and quite emotional process, especially when it's for a death in the family or the ending of a family dynamic like divorce. The key to surviving an estate sale and quickly "taking your time" through it is to prepare for it in advance.
Can You Actually "Prepare" Yourself For an Estate Sale?
To answer that question, from a sentimental and emotional state, No. Life "happens" all the time, and when you least expect it.
With a divorce, the slightest chance of preparing for an estate sale is if you both made it one of the things to include in your prenuptial agreement. If you didn't set up this type of agreement, it can result in a nasty divorce case.
With a death in the family, typically, that loved one will have a conversation with the family, or at least with their Power of Attorney before they pass, about who gets what and who's in charge of what... but that's not a guarantee.
In the literal aspect of preparing for an estate sale, the best way to prepare is to first, separate the items that are not for sale from the items that are for sale. The other way to prepare for an estate sale is to look up estate sales companies to find the best one to help you during your selling process.
You, of course, can't just hire any estate sale company... you need to know what to look for in a company, any red flags, and the right questions to ask. Finding the right one is extremely important because it's going to determine how smooth of a selling process you'll have and choosing the wrong one could potentially compromise your potential profits, regardless of why you're having the estate sale.
Take a look at some of the biggest considerations in choosing the right estate sales company.
What to Consider When Choosing an Estate Sale Company
Experience in Estate Sales
Ideally, you want to make sure that the estate sale company you hire has quite a bit of experience in the business. They need to not only have experience in organizing the sale, but also have experience in running, pricing, and advertising estate sales as well. This will give you peace of mind in knowing that they have the experience to handle your sale. On average, you'll want to look for companies with at least 10 to 15 years in the business.
The Services They Offer
It's important to understand that different estate sales companies offer different services. Some companies will organize your sale and price it for you but won't clean, stage, or advertise the merchandise.
For each company you speak with, make it a point to notate the services each company provides... This will not only help you in your decision-making process, but it will also let you know which areas you may need to "spruce up" on. If there's a particular service you're looking for and accompany doesn't offer it, move on to another company... no sense in wasting time.
The Pricing Process
Again, estate sales are nothing like yard or garage sales... Your estate sale company should conduct thorough research in evaluating the antique or vintage items you have and price them appropriately to ensure you're getting the most profit.
You can also feel free to ask if there's anyone on the team that's an appraiser... be sure to notate which companies have appraisers and which ones don't.
Is the Company Insured?
Checking to make sure the company is insured is an extremely important consideration to think about. What if your estate gets robbed while under control of the estate company? What if one of the team members falls and gets injured on your estate? The point is that, if any of those things happen, will their insurance protect you?
If the company isn't insured, you obviously don't want to choose them. Just make sure to first ask if the company is insured, and then ask about everything their insurance covers. The Minnesota Attorney General states that checking for insurance is one of the top ways to avoid getting scammed.
Estate Sale Schedule
Estate companies get extremely busy, especially during the summer months. Call different companies to check out their availability. If you have to have your estate empty by a certain date but a particular company is booked months out, you need to immediately start looking at other options, regardless of how much you might like a certain company. Remember, time is of the essence.
How Will They Advertise the Estate Sale?
Well-established and experienced estate sale companies have a network they turn to whenever they have sales. Some have "invitation-only" lists while others have multiple channels they utilize like major estate sale directories and classified ads.
The biggest part is first making sure that advertising is even a service the company provides... If it is, you can then question their advertising methods and processes.
