We’ll demystify the process of selecting an estate liquidator
Are you wondering how to pick an estate sale company? Choosing the right estate sale or liquidation provider can be daunting, especially for those who have never gone through it before. Below, we’ve outlined our top 5 tips to consider when vetting an estate sale company or liquidation service.
1. Get 2 – 3 proposals
Given how foreign the estate sale / liquidation process is for most, this step is the most important when considering how to pick an estate sale company. Getting multiple proposals allows you to make a more informed decision and improves your negotiation power with estate sale providers.
2. Cost is not king
When reviewing proposals, chances are that the least expensive proposal isn’t actually the best one. The company may be offering a lower price to compensate for inexperience or they may cut corners on services to save themselves money.
3. Understand how pricing works
Not all companies offer the same services or at the same standard so it is important to take the time to understand what is included. Most estate sale companies charge a % of the sale proceeds, which typically range from 30 – 50%, according to NESA. The rate depends on the workload and the perceived value, which is typically assessed via an in-person walk through.
4. Evaluate sales strategy
- Understand how they are going to drive traffic to the sale and how they are going to maximize value with their pricing strategy. A few core questions to ask yourself when reviewing:
- Do they research value in order to set prices? Do they use appraisers?
- How are they going to drive traffic to your sale (in person or online auction)?
- Do they have a strong following and/or email database they can leverage?
5. Experience matters
Estate sales are complex, have significant financial implications, and requires specialized skill to execute, which makes experience crucial. Experienced liquidation companies will better understand market prices for items, have a more extensive marketing network, and provide a more efficient, professional execution of sale.
With these steps, you’ll be equipped to make the best decision for your unique situation, whether it be an estate sale, online auction, or downsizing tag sale.
At Tampa Estate Sale Company we have over 10 years of estate sale and liquidation experience in central Florida. Please reach out to us today for a quote or to learn more.