BBB Tip of the Week: What to look for in an estate sale manager
When you visit your parents, do you take a look at their home and wonder if they plan on “passing down” all of their possessions? How much of them do you want or can you use? There is a shift in attitude toward acquiring items elders have collected, and many adult children do not want all their parents’ “stuff.” This has led to an increase in estate sales and companies that manage them.
Many times, estate sales take place during emotional or stressful situations such as divorce, the death of a family member or the need to downsize before a move. Consumers considering hiring a business for an estate sale should feel comfortable asking as many questions as they believe necessary to determine whether this type of sale and a particular company is right for them. Marketplace mistrust can be a result of mismanaged expectations and communication.
Better Business Bureau serving the Northwest offers these tips when considering looking for a company to manage an estate sale:
Assess the project. What are your priorities? Do you want to eliminate things? Do you want to make money? Designate items in categories such as sentimental, sell, donation and waste.
Do your research. Ask family and friends if they have recommendations, and make a short list of estate sale companies to research at bbb.org. Read past the rating and review the comments and complaints about the business, along with the company’s response to see if there is a pattern of good or bad behavior and how the business addressed them.
Make a list of questions. If you are new to the experience, ask the company to walk you through the process. How does it appraise the value of items, what sources does it reference to establish market value? How many years of experience do appraisers have and how many in your market? Are there items that you want to sell at a minimum price? How do they make their profit? What kind of preparation is needed in advance of the sale? How many days do they expect the sale to last? How do they market the sale and what are the costs?
What happens to the items that do not sell? Many estate sale businesses offer a donation service for unsold items. Ask which charities they donate unsold items to, or if you are able to choose a charity for donation. If you want the business to haul unsold items to a charity or elsewhere, there may be an additional fee for this service.
Get it in writing. Be sure all the items discussed are part of the bid and contract. Compare two to three companies and read estimates closely. Small fees or additional costs can add up after the fact and affect your final profit.
When do you get paid? What is the documentation the business provides of the sale and how long after the sale can you expect to be paid? What is the method of final payment?