Considering holding an estate sale and the terminology is making you scratch your head? There are a number of different kinds of sales, and the frequent flyer customers seem to have the terminology down like a second language! Here is what you need to know to shop for an estate sale company like a pro.
Estate Sale or Tag Sale: A sale that includes an estate sale company “staging” a home and selling all of the contents inside. Typically, this means laying out items on tables and shelves. The amount of effort a company uses in staging a sale can vary greatly. The estate company will leave all unsold goods for the client to handle.
Clean Out: This type of sale includes the basic estate sale process in addition to disbursement of all left over goods by means of donation, hazmat, garbage, etc. This leaves the home swept and ready for your realtors next steps. A great option for those limited on time who need a home cleaned out quickly.
Resellers: Resellers are individual businesses who obtain a “reseller permit” through Washington State. With this permit they can purchase goods without paying sales tax. The estate sale company is required to keep a copy of their permit on file and record of their purchases.
Waiting List: Waiting lists are for customers who want to hold their place in line for first entry into a sale. Allowing them to save their spot and wait in the comfort of their car, grab coffee, etc. Due to COVID restrictions, a waiting list has become an excellent way to safely time entry of shoppers.
Staging: It is true, not all estate sale companies stage their sales the same way. Some will simply lay everything out on tables and shelves without any specific organization. This leaves the customer to do more digging and possibly miss items they are searching for. Others, like Ginny’s Girls, will stage all of your goods in an organized manner so that similar items are grouped together. This allows for the customers to shop comfortably in a “boutique” style setting.
Commission: Commission is the amount paid to the estate sale company for their services. A reputable company should be able to provide you with a free consultation and contract for services that outlines their commission structure. Some charge a base fee to cover labor, especially for clean outs. Others will only charge a percentage depending on their overhead expenses.
Liquidate: When it comes to an estate sale company, it should be their goal to “liquidate” their clients goods into cash. Not all companies are the same when it comes to their pricing, customer base, and integrity. Ginny’s Girls strategizes their approach to each estate sale individually, achieving the best results for their clients, a real win-win.
Downsize: Individuals who are looking to downsize typically have too much stuff or too big of a household on their hands. In this case, they are looking to liquidate a large portion of their goods to make room for their current or new home.
Appraise: Curious about how much your items are really worth? An estate sale is a perfect opportunity to have an expert appraise your goods and give you a thorough estimation of their true value!
Flipper: Remember that reseller thing we talked about? Flippers and resellers go hand in hand, buying and reselling goods from estate sales.
Ginny’s Girls Estate Services is proud to be the only company providing the Puget Sound area with both Estate Sale and Move Management Services. Call us today to see how we can make your life simple.