An estate sale refers to the sale of all the items in a household. Estate sales are a great way to make some cash while clearing out unwanted items in your house. While they often occur after someone has died, estate sales are also a good tool for those looking to downsize. However, they can also be complicated and difficult to manage if you do not possess the required knowledge of how they work and what makes them a success. The following are some practical tips that can help you achieve estate sale success and make as many sales as possible.
Create an Inventory
Search your home and sort through all the merchandise thoroughly. Carefully plan what you will be selling and what is not to put up for sale. As highlighted at www.TrueLegacyhomes.com, you must ensure to separate and secure any treasured family keepsakes so they do not get misplaced or get stolen during the sale. Also, remove any personal or sensitive items like family photos, medical or financial records, private letters, firearms or diaries, out of the view of people.
Next, you would have to decide what you will put up for sale. You may seek the services of a professional appraiser to advise you what is likely to be sold and what won’t. You do not want to fill your sale with useless clutter that could distract people from the more valuable items.
Price the Items Fairly
You will most likely not be able to sell most of your items at retail prices, as many shoppers will be looking for bargains. With that said, you should set a starting price for each good so buyers do not get away with paying $10 for a $25 item. It is therefore essential for you to do ample research regarding the pricing, especially if you do not plan to use a professional appraiser for the job.
Go online and look through Amazon eBay, and Craigslist to find out the average price buyers are paying for similar items. Price each item with a sticker, and mark them slightly higher than the market value, as most buyers would try to haggle you down to an unfair price.
Display Items the Right Way
Place your estate sale merchandise in its natural place where possible to make for a more appealing display. For example, hang clothes in the closet, take the bed sheets and blankets out of drawers, and put the stacks on top of the bed and dressers. Take mixing bowls, pots and pans, utensils, and other small appliances out of the kitchen cabinets and display them on the table and countertops.
Also, you would want to place valuable objects like jewelry or collectible items near your checkout tables and keep a regular watch over them to minimize the chances of theft.
Advertising is Key
One of the essential factors that may determine the success of your estate sale is how many people attend it. To maximize the number of shoppers who visit, you must advertise it in numerous ways so it reaches and persuades most people. Place an ad on Craigslist, post it on social media platforms like Facebook, and a newspaper ad in the garage sale section.
Do not forget to put plenty of well-lit pictures of the top merchandise you are selling to give people an idea about what’s up for grabs. Additionally, it would be a wise idea to put street signs of the sale with the date, time, and address at nearby intersections a few days ahead of it to attract the maximum buyers.
Manage the Customers
Give everyone a warm welcome as they enter your home. However, it is advised not to let enter customers before the estate sale is scheduled to start. You would want to limit the number of people in the house at a given time to give everyone ample attention and also minimize the chances of theft. This would also ensure good traffic flow and that the house does not get congested with too many people at once. There should be ample room for a few buyers to stand and deliberate without holding others up.
Holding an estate sale is a massive undertaking and should not be taken lightly. While hiring a professional estate sales company is an option to ensure the best chances of success, you can manage it yourself and pockets all the proceeds with the correct planning and a few essential do’s and don’ts in mind.