What constitutes a successful estate planning session? Likewise, what keeps some estate auctions from reaching a wide variety of potential customers? These questions can see you being put on the track for success, as estate planning is a thorough process that requires the seller to be highly aware of multiple factors at all times. From setting up advertisements in the right location to seeking out appraisal services for additional help, estate planning is a balancing act and should be treated as such. Before you think about estate liquidation give the below tips some consideration to give your auction house the best possible chance for success.
Location Is Everything
How will potential buyers find your estate planning auction if they are unable to find it? This is where location comes in. When you place your signs you should put them where there will be a lot of traffic, as the more people who see your advertisement, the better. Advertise your estate sale online one to two weeks prior and remember that good signs should be easy to read multiple feet away as well as should be sturdy enough to withstand wind or a little light rain.
Remember Your Timing
Without good timing you could be missing out on some vital sales. Estate sales generally run for three days or so, with Friday through Sunday a popular model due to the higher amount of free time on behalf of the buyers. While you can do a sale during the week, this will require you work extra hard on posting smart advertisements to entice as much people as possible to make up for the reduced flexibility.
Judge Your Prices
What are you selling and why? This will help you better judge your prices as you go along. The majority of estate sales will sell between 70% and 90% depending on the items for sale. Considering antiques are items that are 100 years old or more, these tend to run the highest on the market. On a similar note, the five most common reasons for estate planning sales involve retirement, a death in the family, divorce, job relocation and downsizing.
Focus On Milestones
Large projects can seem difficult to pin down. Smaller goals, however, can cut these tasks into bite-sized pieces and make it much easier to complete in a faster amount of time. The top six milestones most estate planning sales aim to reach are displaying items for sale, advertising, organizing contents, acquiring professional valuation and cleaning out the house.
Request Professional Help
Should any of these tasks seem a little out of your grasp, an appraisal service can help significantly with advertising, valuation and organization. There are over 15,000 estate sale companies working in the United States in fields such as diamond appraisals and estate liquidation. An estate sale is a wonderful option for when the vast majority of items in a home need to be sold or removed, providing people with beautiful antiques and furniture as well as the seller with the opportunity to begin anew. Estate planning is a balancing act, but one that can be maintained with some consideration and assistance.