Estate sales companies offer a wide range of services, from appraising to cleaning to advertising. You can leave all of the details up to the company when the task seems too overwhelming for you and your family.
Most estate sales companies follow a similar process. The estate sales professional will want to conduct a consultation on the premises to estimate the value of the items that are to be sold. After this initial consultation, the team will get to work analyzing, cleaning, and documenting each piece. To avoid damaging an item, the company may ask you to leave the cleaning to them.
The estate sales company is in charge of the advertising and marketing for the upcoming sale and will contact specific collectors in their database for high-ticket items. Most companies employ an appraiser certified through the International Society of Appraisers (ISA), like Copeland Estate Sales, (or have access to one) to find the value of each object before tagging and advertising. The company may also take photographs to promote the sale on social media and their company website, such as upcoming sales at Justus and Co., Inc. Estate Sales.
You are not required to attend the sale, which can last one to three days, depending on the size of the estate. Larger estates can hold sales lasting more than one week. The company handles all of the hosting and financial transactions as well as the cleaning before and after the sale.
After the sale concludes, the company may provide you with a list of charitable organizations that will accept the estate’s remaining items as donations. You (as well as the executioner of the will, if necessary) will receive an itemized list of the items sold and accounting reports. The estate should receive a check (after the commissions have been deducted) in less than 30 days.
The initial consultation is usually free or at a low cost as the estate sales professional is there to determine if you need their services and how much the estate will yield at the highest price. The average commission rate is 10 to 25 percent of the total net sales, however you can expect to see commission rates as much as 30 to 35 percent. Companies that charge higher rates may provide more services, like security and heavy cleaning in cluttered rooms.
The ISA and its fellow organization, the American Society of Appraisers (ASA), certify appraisers and keep an updated database of professionals in Tennessee and throughout the country. You can search by city, state, or zip code.
The Better Business Bureau (BBB) of Mid-South Tennessee features ratings and reviews for companies within 100 miles of the city. You can find 22businesses currently listed with 12 BBB accredited businesses.
Other online service directories and senior care directories list reviews for estate sales companies with reviews written by family members of the estate. Always research and compare companies before hiring one.
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