When holding an estate sale and going through a professional firm there are several things you want to avoid so that things go as smoothly as possible. Organizing an event can be pretty overwhelming so if possible you will want to seek out help from an estate sale liquidation company to help make things a lot easier. Most estate sale companies are used to handling estates that are valued at tens of thousands of dollars, but that does not always mean that the companies are reputable, so you will want to check your sources and weed out the untrustworthy ones.
Here are 5 common mistakes to avoid when hiring a company to run your sale:
- Make sure to research the company before you agree to sign a contract and try to find out how long the company has been providing its services. Knowing whether its employees are members of professional associations, have specialized credentials or are just regular people with no background in estate sales is important as well. Unfortunately scams will arise and knowing exactly who you are doing business with will help prevent any rip-off from happening. If you are not comfortable with the employees of the company, then do not hesitate to contact a different company instead. Failing to properly review the estate sale company can be costly and is a mistake made far too often.
- Always compare rates and fees of professional companies and make sure they are clear and you fully understand them. There could be additional fees for security, moving expenses, trash removal, advertising, cleaning and other related estate sale expenses. The company will already take a percent of the total amount gained from the sale, so you do not want to get hit with any unexpected fees that you were initially not aware of. Commissions and fees should be requested by you beforehand and compared to other companies so that you get the best deal possible. A lot of people do not make as much money as they can because they make this blunder.
- Do not make the slip-up of removing items from the home after you hire a professional company, because the company could charge you for any loss of commission. So if there is anything in the home that you want to exclude from the sale, let the company know ahead of time so that things do not get mixed up.
- If you want to clean up before the big estate sale and toss any items you believe to be junk, go ahead, but make sure you are certain these objects in fact have no value. That old piece of dusty pottery or seemingly ugly vintage lamp could be rare and actually worth thousands of dollars.
- Lastly, do not make the error of not hiring a professional estate sales company. If you do not know what you are doing and cannot properly research the value of certain items then you are almost certain to lose out on a lot of money. An estate sales liquidation company can assess the value of all of the items for sale in the home, clean up after the event and oversee all of the transactions. Some companies will even offer a lump-sum payment for items that are left unsold. Despite paying a commission, you often end up making more using an estate sale company instead of going it alone.