FAQ's
What is an estate sale and who would need one?
An estate sale is held when all or most of the contents of an entire home are no longer wanted or needed. Anyone downsizing, relocating, moving out-of-state, divorcing, forced sale, or liquidating a loved one's household or estate can hold an estate sale.
Do I have enough items to hold an estate sale?
If you are looking to liquidate an entire household you will have enough items to warrant a full 2-3 day estate sale. We usually recommend that there be at least $5,000 worth of sellable items. These items should be a good mix of everyday household items such as dishes, small appliances, cleaning supplies, books, clothes. furniture, tools/yard items, decorator items, table and bed linens, kitchenware, and collector items. This also includes cars, trucks, boats, etc.
How does the process work?
The first step is to contact us to discuss any questions you have and then we can set up a no cost no obligation consultation for us to view the estate and the contents for sale. During the meeting, we can discuss the plan for the sale and preparation as well as schedule the upcoming dates. Once the plan is established and accepted, we will sign an agreement which will layout the details. All you will need to do is decide what you want to keep and what is to be sold and we can handle the rest. We can even list your home for sale as a licensed real estate agent with an agreed upon brokerage fee. The best time to market a home is during an estate sale as several potential buyers love to peruse the home during the sale and ask questions. What could be better than to have your actual listing agent onsite doing the sale for you who knows all about your home? Yeah, we thought so too.
Should we clean up the house or toss items out?
We suggest you do none of these before we begin. Nowadays people will buy anything they can save money on and that can include barely used cleaning supplies, etc. All of these items add up equating to more money in your pocket. We are professionals and have seen homes at every level of disarray and organization. We suggest the following items be removed prior to the sale: personal papers, medication, alcohol (cannot be sold), food and expired food, and used personal toiletries. If during our discovery we find additional personal keepsakes or items, we will set them aside for you.
What items sell well at an estate sale? How are items priced?
Some of the most successful sales have been in homes without a single antique or collectible. Having good clean furniture, lots of small items, decor pieces, tools, lawn equipment, jewelry, etc. While it's impossible to know everything about everything we have a collective knowledge of interests and general knowledge about all sorts of items, but will use other resources to back up our thoughts on pricing when needed. Items are priced based upon our experience and what we feel the market will bear. We will consult outside appraisers or second opinions if needed for some specifics.
What is the commission rate and how is it calculated?
The commission rate is determined per scope of the sale with set parameters. There are no upfront costs. Advertising (excluding print), local permits, directional signage, staff, credit card fees, and preparing/set-up with equipment are all included in the commission. Additional fees may be charged for haul away services, professional cleaning service, trash disposal, and/or extensive preparation work required beyond the normal. These additional fees would be agreed upon prior to work and paid from sale proceeds after the sale is finalized and before final payment is paid out.
FAQ's Continued
How long does the estate sale last?
Typically a 2 or 3 day sale with advertised discounting on the remaining days is the most effective way to maximize and liquidate the entire estate contents. However, we are flexible to the needs of our clients and we will discuss what is the best option for the estate as this is also based on the local area and market. Oftentimes we begin our sales on Fridays as there are less estate sales going on thus offering your items to the estate shoppers who are looking for the deal before the crowds on the weekends. On the second and third day, we offer discount days which attracts more patrons to purchase instead of waiting and also helps to eliminate most of the items by the end of the sale. Sundays are also wonderful days to hold estate sales as not many competitors hold them and there are plenty of families out shopping and will visit the sale.
May I attend the sale?
We highly recommend that it is best to not attend or have family in attendance at the estate sale. The sale process can be an emotional one for the family members present as they watch customers go through the belongings and potential clients touring the home. It is in the best interest of all to let the professionals deal with the handling of the sale. We would much rather have you relax and wait for the check to arrive.
Can't I just do my own estate sale? Why should I hire Modern Estate Sales?
Conducting an estate sale contains many movable parts and scheduling of different companies and vendors if it is done on your own. It takes a great deal of time and effort to organize and display the items in a high-class professional manner with the maximum added value from research and experience. Modern Estate Sales offers a one stop shop for estate liquidation by providing professional displaying of your items, advertising, barcoded state of the art checkout system creating a retail like experience inside the estate. After the sale, we leave the home in a broom swept clean manner. We can also schedule the hauling of remaining items or schedule for a donation pickup from a local charity on your behalf. Additionally, we can hire a cleaning crew to leave the estate in excellent condition for the future sale by a realtor. Beyond that, as a licensed realtor we can list, market, and sell the home for you with a separate listing agreement and agreed upon fees. Ultimately, by hiring Modern Estate Sales we can handle all your estate liquidation needs all in one without you having to hire several different people on your own which can be a daunting process in itself. Let us do all the hard work.
What happens after the sale to the unsold items?
Generally there isn't much left of value after the sale when we offer our discount days on the weekends. Our goal is to sell as many items as possible onsite. If there are items left after the sale, generally there are a few options given. The items may be given back to the family, donated to a local charity by a scheduled pickup on behalf of the client, or we recommend a professional debris removal company. The home will be left in a broom swept condition unless the client wants Modern Estate Sales to hire a professional cleaning service to come and clean more thoroughly the bathrooms, kitchen, etc. We will provide our clients with all itemized tax donation receipts, and an inventory list of all items sold during the sale.
We already have a realtor for the home, can we still utilize you?
Yes, we love working with our fellow realtors. Please just provide us their contact information and we will reach out to them so that we may have your property flyers available for the upcoming sale. We welcome them to be onsite during the sale (if possible) to answer any questions that potential clients may have. We are team players and we are all in this together to help sell the estate as well as the contents.
How and when is payment made?
We use a state of the art point of sale system that generates an itemized report of everything that was sold during the sale, even if the item is $1. Items of lesser value are categorized and items of greater value are itemized. After the sale, the client receives a packet within 5-7 business days post sale which includes a summary sheet, detailed report, any tax donation receipts, and a business check from the proceeds of the sale minus the agreed upon extra expenses (should there be any). This package is helpful for any executor, attorney, or bank representative involved in making sure the estate sale was conducted in an ethical manner.
There are so many estate sale companies, how do I choose the right one?
We strongly believe that you choose the right company you feel is a good fit for your needs. Choosing a company with a lower commission rate does not necessarily mean you will make more money. A company with better presentation and advertising skills will be more successful at selling your items. The estate sale business is not regulated and though we will never bad mouth another company, please be thorough in your search. Modern Estate Sales is veteran owned and operated, professionally licensed and bonded, and holds several memberships with nationally recognized organizations.