Most estate sale companies take a standard commission, typically 30 to 40 percent of the gross sales, for an estate sale that fits normal parameters. Sales that require extra work often incur additional fees.
How do I start an estate sale business?
Start an estate sale company by following these 10 steps:
- STEP 1: Plan your business.
- STEP 2: Form a legal entity.
- STEP 3: Register for taxes.
- STEP 4: Open a business bank account & credit card.
- STEP 5: Set up business accounting.
- STEP 6: Obtain necessary permits and licenses.
- STEP 7: Get business insurance.
What is the purpose of an estate sale?
An estate sale or estate liquidation is a sale or auction to dispose of a substantial portion of the materials owned by a person who is recently deceased or who must dispose of their personal property to facilitate a move.
Do you get a commission on an estate sale?
An estate sale is probably way more stuff than you’d be able to haul outside for a yard sale. If you hire a professional estate sale company, which is a smart idea, the business will take a commission of typically 35% to 50% of the sale’s gross proceeds. An estate sale needn’t have high-dollar items in order to be successful, though.
Do you have to sell everything at an estate sale?
At the same time, don’t sell any object you think you’re likely to mourn. You can always dispose of it later if you change your mind, but you’ll never get it back once somebody buys it and drives away. Research is the key to pricing goods for an estate sale.
How to choose the best estate sale company?
First, you’ll want to see if the stuff even warrants an estate sale. So, find a reputable estate sale professional to do a walk-through and to give you an assessment. “There should be no fee for the initial consultation, ever,” said Oliva. To choose a good estate sale company near you, start by asking friends and family members for references.
How does bargaining work in an estate sale?
Bargaining is often a big part of estate sales. But you still have to make it as easy as possible for customers to make decisions about different items. If you don’t mark anything, you’re basically forcing people to hunt you or your family members down to ask the price.
