Average Estate Sale Proceeds - Estate Pros
An estate sale is an open-to-the-public sale of someone’s personal possessions. It is kind of like a garage sale but inside the home and on a much bigger scale. Proceeds may vary, but trusted experts can help you on your way.
Estate sales usually include a much larger quantity of items and may feature high-ticket items, whereas garage or yard sales are typically used for selling a handful of second-hand, lower-value items. Each sale is unique based on the seller and the items involved. It can be tough to predict exactly how much revenue particular estate auctions will generate, but there are tools and techniques used to predict average estate sale proceeds from the sale.
How Do Estate Sales Work?
Estate sales are typically conducted after the death of a loved one in order to liquidate their personal assets. People also use estate sales to declutter or downsize before a move, make extra money, help elderly parents relocate to assisted living, etc. Estate sales are becoming more popular as more people alter their housing patterns (relocating, downsizing) or deal with the loss of loved ones.
Garage sales and estate sales may have their similarities but estate sales are far more involved — from managing inventory and pricing to advertising and day-of-sale operations. Each sale differs depending on the reason for the sale, the estate sale location, items being offered, and the shoppers they may attract.
Most sellers find the process very overwhelming. It’s why it is helpful to consider hiring a professional estate sale company like the Estate Pros.
Estate Sale Companies
What is an estate sale company? Professional estate sale companies are sometimes referred to as estate liquidation companies, tag sale companies, or even auction companies. The purpose of an estate sale company is to take on all of the responsibility in organizing, pricing, advertising and conducting the estate sale event in order to ensure the total liquidation of your items.
A professional estate sale company like the Estate Pros will find a large volume of buyers for most of the possessions from a home or a business, whether it be for a single or multi-day event. Homeowners typically hire estate sale companies when they want to quickly remove the contents of an estate, possibly due to the death of a loved one, a divorce, or simply to downsize and expedite a quick relocation.
Estate Sale Services
Organizing and hosting an estate sale can be a lengthy process. It begins by determining which belongings are keepsakes and which need to sell, pricing these items, staging a house or other auction location, advertising the sale, day of operations, and all follow-up tasks. There could also be more steps, depending on the seller and their items. Professional estate sale companies manage much of this process for their clients, alleviating their stress and required effort.
Free Consultation
An estate sale professional typically begins the process through a complimentary estate sale consultation. They meet with the homeowner in order to discuss their services and assess the items being considered for an estate sale. After determining the inventory for the estate sale and estimating the gross profits, the estate sale planner will have a discussion with the homeowner to determine if the potential estate sale has the appropriate inventory and value to proceed. If the homeowner approves, an agreement or contract is executed between the parties and the process moves forward.
Advertising
Once the estate sale company and the homeowner have agreed to move forward together, the estate sale is scheduled and advertising begins. Advertising usually occurs for several weeks in advance of the estate sale.
Estate sale advertisements take many forms, but estate sale professionals typically use the following methods:
- Email to market to their current shopper database
- Post your estate sale listing to all major estate sale industry websites, including EstateSales.net, EstateSale.com, etc.
- Create posts for social media platforms and community apps like Facebook, Instagram, Craigslist, NextDoor, etc.
- Advertise in local publications and at local businesses
Staging and Pricing
The next step in the estate sale process is staging and pricing. Your estate sale professional will determine if there are any unsaleable or marginal items and either dispose of them or donate them to charity. The remaining estate sale items of value are organized, tagged, priced, and staged throughout the approved areas of your location. Price tags are large and easily visible and the items are staged in a way that allows optimal accessibility for all guests in attendance.
Selling
Estate sales are typically held over the course of a few days, usually on weekends. Factoring in buyer interest and inventory size, estate sales are generally between one and four days. The house is opened to the public on the days of the sale, while the estate sale professionals and their staff are present to assist shoppers and process all transactions.
Post-Sale Clean-Up and Average Estate Sale Proceeds
After the estate sale is closed, the homeowner usually decides what to keep, dispose of, or donate to charity. Usually, the estate sale company will coordinate this process. From here, the estate sale company or a hired cleaning service will clean the home and make sure it’s ready for transition to the new owner. The agreed-upon estate sale service fee or commission percentage in the estate sale contract will be deducted from the proceeds to pay the estate sale company. The remaining funds are given to the homeowner.
By hiring an estate sale professional like the Estate Pros, you will be able to maximize your profits while minimizing your involvement. When dealing with a death, divorce, or downsizing these services may be absolutely priceless.
How Much Does The Average Estate Sale Make?
Profit is definitely one of the primary interests for most homeowners. A lifetime was spent amassing your items. Perhaps you paid a lot for some items and you wonder how much they will sell for at an estate sale? Conducting an estate sale is hard work for everyone involved, if not physically, then certainly emotionally. And yes, you definitely want to have an estimate of what you will ultimately get out of it besides a professionally emptied home.
According to a recent survey of the industry, the average estate sale can bring in over $18,000 gross in proceeds. This is just an average number, though. Many estate sales bring in more revenue, while others may bring in much less. Unfortunately, we can’t guarantee how much you’ll make at your estate sale. We don’t know what you’re selling, your location, how many shoppers will attend or even the weather. There are a lot of variables that can affect an estate sale.
It’s also important to realize that what you bought an item for is not what it will sell for. And while there are certain things that appreciate in value over time, most will not. Your estate sale items must be priced fairly. You want to make money, of course, but you also want to sell everything. If items are priced too high, they won’t sell, and then you are back to square one. It’s a delicate balance and a professional estate sale company like the Estate Pros knows how to walk that line to get you the most proceeds from your sale. Learn more about how much estate sales charge.
So, how much will you make in proceeds? Unfortunately, we can’t say. Find an estate sale company you can trust like, the Estate Pros, who will keep your best interests in mind. If you enter the process with reasonable expectations, your estate sale will most likely be a success!
Go with the Estate Pros!!!
The Estate Pros are consistently ranked among the top estate sale companies in America as recognized by EstateSales.net, EstateSale.com and others. We specialize in assisting families and individuals who are in need of residential liquidation, donation, clean out and personal property appraisal services.
The Estate Pros are an estate sale industry authority with hundreds of years of combined experience amongst our ownership and staff. Our owners, sales teams, and support staff are held to the highest standards of professionalism and experiential service, treating each of our clients and shoppers with the utmost care, compassion and respect.
The Estate Pros pay close attention to detail as we handle the estate sale process from start to finish. Our experts will work with you from the initial free consultation to the complete execution of your event and everything in between.
You don’t need to lift a finger while we take care of everything for you!
Thinking about hiring an Estate Sale Company? Contact the Estate Pros!!!
Thinking about hiring an Estate Sale Company?
Contact the Estate Pros!!!
Call 248-266-9817Free Consultation
The Estate Pros are the most professional estate sale company in the area serving homes like yours all across southeast Michigan. We are consistently ranked amongst the top estate sale companies in America, recognized by EstateSale.com and other industry authorities.
We pay meticulous attention to every detail as we handle each aspect of the estate sale process from start to finish. Our experts will work with you from the initial free consultation to the complete execution of your event and everything in between. You don’t need to lift a finger; the Estate Pros will take care of everything for you!
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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!
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