Are you wondering if hiring an estate sales professional is right for you and your circumstances? An experienced and reputable company can yield a higher return for the estate than you may realize.
Be prepared for a no fee initial consultation in the form of a walk-through of the house by most estate sales companies. The company may use an appraiser certified through the American Society of Appraisers (ASA) or the International Society of Appraisers (ISA) to place a value on the items you want sold. Since most companies earn commission from the total net sales, an experienced and reputable company may be able to garner the estate with a higher return.
Each piece will be carefully cleaned, inspected, researched, documented, and tagged before the sale. This process could take the company as little as a few days to accomplish or up to one week for larger estates. The estate sales professional will coordinate the advertising of the sale or auction using social media outlets, other estate sales event webpages, and their own company’s website. Some companies also host online sales during the event, such as Everything But The House Sales.
Don’t worry about trying to manage the sale, the estate sales crew will handle all of the hosting and transactions. It is not necessary that you are present during the event as the company will keep you updated. You should receive an inventory list before and after the sale as well as financial transaction receipts and a list of items remaining to donate.
Most companies do not require any money upfront, so after the sale concludes and all transactions are finalized, the company will deduct their commission from the net sales and issue the estate a check.
Low commission rates may or may not be a benefit to the estate. The average estate liquidator commission rate is between 10 and 25 percent, although many charge between 30 and 35 percent. An experienced and reputable company of appraisers and liquidators may charge higher rates because they command higher returns for the estate. Other companies may charge higher rates if they offer more services like security, heavy cleaning, and item donation removal.
You can search through the ratings and reviews on senior care directories for estate sales companies. The Better Business Bureau (BBB) for Central and Eastern Kentucky also features reviews and the BBB accreditation status for companies in the area. The BBB lists seven organizations within 100 miles of Lexington.
Don’t forget about your family and friends. They may have suggestions for you about estate sales companies they have used in the past. If they recommend a company to you, consider attending the company’s upcoming local sale to observe the staff’s interaction with buyers as well as the arrangements and displays.
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