This information is shared from the NESA website.
As an executor, trustee, heir, or a person moving, you have a full set of tasks and responsibilities to accomplish in a short period of time. Some aspects of your move or house clearing process are clear. You have moved before, you know what that entails. If you have ever sold a home, then you know how to hire a realtor, or contractor to fix it up. The one task most people have never done though is hire an estate liquidator.
At the point you begin to make decisions about how to sell your personal property, the services of a qualified Estate Sales professional becomes of vital importance. To assist and educate you towards making your best decision about which type of estate sales company you should hire, NESA has written this simple guide.
• Prepare for the Interview
• Search For the Right Company
• Determine Questions to Ask
• The Interview Process
• Commissions & Fees
• References and Credentials
• Post Sale Strategies
• Decide Which Company to Hire
Before calling estate liquidators, clearly identify items in the home that are being retained by the estate. If you have items of significant value, get those items appraised. Personal papers, should also be removed.
Consider having an estate sales professional stop by before you begin throwing items away. Items you might throw away often times can be sold. You want to know the difference between these two. Professionals know which items are considered debris and which items can be sold to generate income.
Prepare for the Interview:
• Identify Items Being Retained
• Remove Personal Items
• Get Appraisals
It is best to look for companies close to home that are no further than 25 miles from where you live. Companies operating out of your area may be out of touch with local buyers, municipal ordinances and/or local best practices.
Local companies have built solid relationships with their customers and it is their loyal customer base who attend sales in your community
• Search Online
• Ask Friends and Relatives
• Check in with Your Attorney
• Check with Realtors
Finding an estate sales company local to your area is as simple as searching the internet using the keyword search term, “Estate Sales” followed by the name of the city you live in. So for example, if you live in Indianapolis, you would search for “Estate Sales Indianapolis”. This will give you a list of companies in your area.
When visiting a company’s website look to see that the website is clearly written and adequately describes their services. Do you understand the services being offered? Does the site look thrown together or well-organized? Do they post photographs or other information about past or current sales? The time a company puts into its website, explaining its services and the marketing they employ to get people to attend their sales are great indications of how much effort they will make towards the success of your estate sale.
When calling estate sale companies, check to see if their schedules match your needs. Ask them when and where their next estate sales is going to be, and make plans to visit one of their sales. Also, let them know you’re interviewing other companies.
Most estate sales companies offer a complimentary initial consultation. This is a good opportunity for you to avail yourself of their many years of experience managing and conducting estate sales. You can learn a great deal about the estate sales process by asking liquidators the right questions.
22 questions to ask an Estate Sales Professional:
1. How long has your company been in business?
2. Do you carry Public Liability, Property Damage and Theft Insurance?
3. Are your workers covered by Workers Comp?
4. How many estate sales do you conduct a month?
5. What are three ways your company is different from others?
6. How are your sales results better than other companies?
7. How long does your set-up and sales process take?
8. How do you advertise or market your estate sales?
9. How many online page views does your average sale get?
10. How many shoppers attend one of your sales?
11. How many shoppers will you allow into the house at one time?
12. What percentage of items will sell?
13. What types of security precautions do you make?
14. How do you handle high-value items?
15. What forms of payments do you accept, Cash, Checks, Credit Cards?
16. What is your sales commission?
17. Are there set-up or debris removal fees?
18. How long does it take to reconcile a sale and make an estate payout?
19. Do you have the right to retain unsold items?
20. What happens to items left after a sale?
21. How detailed is your accounting, will you give us a list of items sold?
22. Will your company leave our home in “Broom Clean” condition?
There are many right ways to answer the above questions. The three primary reasons to ask the above questions are:
• To give you information about how each company works.
• Reveal a company’s style, and business management practices.
• To understand how commissions and fees assist financial results.
You want to find a company that has experience, high ethical standards, and who can get shoppers to their sales.
As the client you want to make sure you can trust the company you’re interviewing; that they can and will follow through on their commitments. The company you are interviewing will be determining whether the amount of time and work necessary to complete your project makes economic sense. The interview process consist of a verbal consultation, walkthrough of the home, and the presentation and explanation of their plan. Some companies prefer to talk through the estate sale process before viewing the home, but most prefer to see what’s for sale, so their conversations with you can be specific to your project.
Stages to the Estate Sales Interview:
• Plan Presentation
• Giving of References
Introduction: How were they dressed? Did they arrive on time? Did they give you a card? Were they pleasant?
Walkthrough: Did they take their time? Were they respectful?
Valuation: Were they knowledgeable about you items? Do they have access to outside expertise? Were their ideas about values consistent with yours? Did they seem to have a competent grasp about present market conditions?
Questions: Did they answer your questions? Were they impatient?
Plan Presentation: Were they attentive to your goals? Did their plan seem workable?
Giving of References: Did they have references? Did their references checkout?
Your interview with the estate sales company’s representative can conclude after the above six interview stages have been accomplished.
It is a wise practice to interview at least 2-3 companies and be sure to check out their references. Also, don’t let yourself be pressured into signing contracts before you are ready. Give yourself some time, engage in conversations with trusted friends or your attorney to ask them what they think about a company’s proposal, and make sure you have any last questions or concerns answered and addressed before you choose to hire an estate sale company.
For the next 4 Tips, please continue reading How to Find an Estate Sale Company- Part 2
The full article can be found at http://www.nesa-usa.com/estate-sales-information/nesas-guide-to-finding-an-estate-sales-company/