An Estate Sale, How Does It Work?
An estate sale is an all-at-once liquidation of the entire contents of a house. It can be held in an auction format and occurs over the course of two to three days in the house belonging to the owner of the items. The profits from an estate sale vary and correlate with the value of the items in the house. There are many benefits to using an estate sale company like Estate Pros to handle the sale of your personal property. The added benefit of the combined expertise of the professionals at Estate Pros will ensure that your estate sale has the best possible chance of bringing in financial rewards. Schedule a free consultation for your estate sale in Macomb County today.
A Change in Circumstance
Whether it’s due to a major downsizing event, a divorce, or the death of a loved one, you may find yourself in need of liquidating a large number of personal belongings. When faced with the task of selling so many various items, often accompanied by the stress of a major life change or sudden loss, many people can feel overwhelmed. Hiring a professional estate sale company to handle these tasks can feel like a huge weight has been lifted off your back, allowing you to preserve time and energy to handle all of the other things life throws your way. Having an expert lead the way is often the best way to maximize your profits and minimize your effort.
How Much Does The Average Estate Sale Make?
The average estate sale in Macomb County earns over $20,000. An estate sale happens when someone needs to sell a large amount of personal property, usually a whole house’s worth. A whole-house cleanout is similar, but usually, the belongings are donated to a nonprofit. The estate salesperson will come by and take a look at your possessions, give you an estimate of their potential value, and discuss the best strategies for your sale. Then, the salesperson will prepare all of the paperwork and necessary permits with the city or township. An estate sale company will make sure that your items are displayed in their best light, promote a good value for the sale, and handle all transactions in a professional manner. See past estate sales in Michigan.
Estate Sale Macomb County, Michigan
Having an estate sale in Macomb County, Michigan is easy when you hire the right company. These people will be in your private home, touching your personal possessions and handling your transactions. Do your homework, be choosy and insist on using a company with an esteemed reputation like Estate Pros for your sale. We take care of everything needed:
Permitting – In most counties in Michigan, permits are needed for estate sales or garage sales. In many cases, the cost ranges from free to $20 per sale, with a limited number of sales allowed per year (such as three). This is to prevent people from turning their homes into neighborhood mom-and-pop shops, creating a disturbance in the neighborhood.
Parking arrangements– In areas with limited street parking, additional permits may be needed for attendees. Talking to your neighbors ahead of time is always recommended.
Advertising – Craigslist, social media groups, and apps like Nextdoor are great places to advertise your estate sale. Springing for some ads on estate sale-specific websites like EstateSales.net and Estatesale.com can pay dividends, as they are specifically targeted to people who are already looking for estate sales. Don’t underestimate the value of word of mouth; telling friends and putting up neighborhood signs will bring people through your door.
Accurate appraisal of items – It can be tough to ascertain the value of so many different things with pinpoint accuracy. When you didn’t purchase the majority of the belongings, which is often the case in an estate sale, you might be completely at a loss as to the value of the items your relative collected. Having a trustworthy professional do the job for you is easier and ensures that you are pricing things accordingly.
Staging – Showcasing items in their best light is important. Just as with staging a house or clothes in a store, you want the setting to add value to the items, not detract from them. Tables, lamps, a thorough cleaning and thoughtful displays make a big difference in the bottom line and help you obtain maximum value.
Cataloging – This is one of the most important areas in which to be thorough. Go through every single nook and cranny of the home, take pictures of things, get rid of the trash, and set aside any personal documents or belongings that you do not wish to sell. Whip out your smartphone and snap away – pictures are very helpful for keeping a record of the contents.
Processing payments – Will your sale accept electronic payments such as Paypal, Zelle, Venmo, or Credit Cards? Will you accept cash? Know this ahead of time and make sure that all of your accounts are working properly. Meticulous recordkeeping is a must in ensuring that every dollar earned is accounted for.
Clean up after sale – Most estate sales last between two to three days, and though typically there is not a lot left after a sale, there may be some items remaining. You can decide which of these things you want to keep and what you would like to donate for a tax deduction. Most things that have no value for either donation or sale should be thrown out or kept, if desired, prior to the sale.
How to Price Estate Sale Items
Pricing estate sale items depends on the current market conditions and value, as well as the item’s condition. A good property appraiser should be well versed in a variety of areas of interest like art, antiques, vehicles, fashion, sporting equipment, collectibles and memorabilia, coins, stamps, books, electronics, design, and so on. If you are looking to get a general idea for yourself, a good way to guess is to look at similar items for sale, like those on online auctions like eBay, online consignment shops, or social media marketplaces. Higher-value items such as vehicles, jewelry, collectibles, art, or furniture are often included in estate sales and their pricing may be higher, or you may wish to sell them privately. Sometimes, lower-quality things may be left out of an estate sale if they detract from the perceived value of the higher-ticket items. Don’t throw things away until your estate sale company has gone through the house and done an appraisal. People who regularly buy and sell collectibles are often looking into estate sales for rare finds, and there are thriving markets for more items than you’d imagine.
Estate Sale Planners
Most of the reasons people find themselves looking into an estate sale are stressful, such as:
Chances are that you are stressed enough already, and successfully managing a large inventory of items that need liquidating can seem like an impossible task to someone who isn’t familiar with the process. In the event of the death of a loved one, for instance, it can be emotionally painful for their relatives to sell their belongings individually. Most of the work that goes into an estate sale lies in planning for one. There are many things to handle ahead of hosting an estate sale, from organizing the property ahead of time, cataloging things, taking photos, determining prices, and appraising higher-value items. Having a professional estate sale planner handle these things for you
Let The Pros Handle It!
The Estate Pros has been Macomb County’s top estate sale company for over 15 years and has even been ranked as one of the top estate sale companies in America. We specialize in providing compassionate, precise, thorough and dedicated service to our customers in Michigan. Our team of appraisal and marketing experts is very familiar with the value of a variety of personal property types and how to best present them to the world. Schedule a free consultation for your estate sale today.
Need help pricing your estate sale items?
Contact the Estate Pros!!!
What Our Clients are Saying
Southeast Michigan Estate Sale Service Area
The Estate Pros have been proudly serving Oakland, Macomb and parts of Livingston, Genesee, Lapeer & Wayne counties for the past 15 years. No matter what your situation calls for, the Estate Pros are here to help!