Estate Sale Tips: Ensuring a Smooth Process
The pandemic has driven a significant rise in home buying, the likes of which haven’t been seen since 2006. Factors such as the shift to remote work, a desire for less densely populated living areas, and a large segment of the population entering retirement have contributed to this trend. A recent survey by Blue Moon Estate Sales revealed that 19% of people over the age of 55 plan to relocate by 2023, often leaving them wondering what to do with their accumulated belongings. Here, we share essential estate sale tips and how K Real Estate & Investment can help you navigate this process smoothly.
1. Decide What Stays and What Goes
The first step in organizing an estate sale is determining what to keep and what to sell. Almost everything can be sold at an estate sale, from kitchenware and furniture to antiques and vehicles. Encourage clients to explore every corner of their home, including attics and crawl spaces, to identify items they wish to keep. This prevents any last-minute changes once the estate sale team begins their work.
2. Plan Move Outs Prior to Sale
Advise homeowners to move out before the estate sale team arrives. This allows the team to organize and stage items without any interference. Additionally, it’s beneficial to move large items to the first floor to make them more accessible to buyers. Items such as entertainment centers, large desks, and pianos are more likely to sell if they are easy to remove from the house.
3. Provide Extra Information About Items
While not mandatory, providing background information on specialty or designer items can significantly aid in pricing and marketing these items. Original purchase receipts, paperwork, or any documentation on items such as jewelry, furniture, or artwork can help determine their fair market value. Items with historical significance or those owned by notable individuals should be authenticated to maximize their sale potential.
4. Remove Any Personal Items
It’s crucial to remove all personal documents and items that contain sensitive information before the estate sale. Items like social security cards, medical bills, family photos, and prescription drugs should be securely stored away to prevent any potential misuse.
5. Point Out Potential Hazards
Ensure the safety of both the estate sale team and potential buyers by addressing any hazards within the home. This includes fixing loose stairs, securing low doorways, and resolving any other safety issues. These measures help create a safe shopping environment and prevent accidents.
6. Clear Out
Just as it’s challenging to sell a home with the owner present, it’s difficult to run a successful estate sale with the owner lingering. It’s best for homeowners to leave the premises and let the professionals handle the sale. This allows the estate sale team to work efficiently and reduces the emotional stress for the owners.
Additional Tips for a Successful Estate Sale
Research Valuable Items
Encourage clients to research any items they suspect have significant value. Checking online marketplaces like eBay can provide insights into current market prices for similar items. This helps in setting realistic prices and ensures that valuable items are not overlooked.
Consider Hiring a Professional
Hiring an estate sale company can simplify the process significantly. Estate sale professionals bring expertise in pricing, staging, and marketing items. They handle the logistics, which is especially helpful during stressful times such as a loved one’s passing. When hiring a company, it’s important to compare multiple options, understand their fee structures, and check their references and reviews.
Follow Estate Sale Etiquette
If managing the sale independently, adhere to some basic etiquette to ensure a smooth operation:
- Start early to accommodate eager shoppers.
- Assign family or friends to monitor each room and assist buyers.
- Display items in their natural settings within the home.
- Ensure items are clean and in good condition.
- Provide clear signage and parking instructions.
- Offer refreshments to enhance the shopping experience.
- Clearly label prices on all items to avoid confusion.
- Keep a cash box with change to facilitate transactions.
- Keep children and pets away to maintain a calm environment.
Timing is Crucial
Plan the estate sale well in advance, ideally a month ahead, to allow ample time for preparation. Weekends are typically the best time for sales, but avoid major holidays that could affect attendance.
Utilize Helpful Resources
For unsold items, consider donating to local charities or specialty stores. Some estate sale companies may offer to handle remaining items for an additional fee, providing a convenient solution for homeowners.
Conclusion
Estate sales can be overwhelming, but with the right preparation and professional assistance, they can also be highly successful. By following these tips and leveraging the expertise of K Real Estate & Investment, homeowners can ensure a smooth transition and a profitable estate sale. Whether downsizing, relocating, or settling a loved one’s estate, a well-organized sale can ease the process and provide significant financial returns.