ESTATE SALE

Assessment: The process begins with an initial consultation to assess the estate. This involves meeting with the client to understand their goals (e.g., downsizing, liquidating an inherited estate, or clearing out a home after a life transition).

Inventory Overview: A detailed walkthrough of the property is conducted to identify valuable items, sentimental belongings, and what can be sold. Items to be kept by the family are separated from those to be included in the sale.

Contract Agreement: An agreement is signed outlining the scope of work, commission structure, and any additional fees (e.g., for cleanup or advertising).

 Sorting and Categorizing: All saleable items are sorted into categories such as furniture, clothing, jewelry, collectibles, and household goods.

Researching and Pricing: Items are appraised for their market value. This step may involve consulting industry guides, online marketplaces, and professional appraisers for high-value items. Pricing reflects the local market to ensure competitiveness.

Staging: Items are arranged attractively within the home to create a retail-like shopping experience. Fragile or high-value items are often displayed prominently or in secure areas.

 Advertising: Effective promotion is key to drawing a crowd. This involves:

• Posting ads on estate sale platforms, local community boards, and social media.
• Creating detailed online listings with photos and descriptions of key items.
• Sending notifications to email subscribers or interested buyers from past sales.

Signage: Signs are placed in strategic locations to guide local traffic to the sale.

Customer Management: Staff is present to manage the flow of shoppers, answer questions, and monitor high-value areas to prevent theft.

Dynamic Pricing: Depending on the pricing strategy, discounts may be offered progressively (e.g., full price on the first day, 25% off the second day, 50% off the third day). This encourages buyers to act quickly while still clearing inventory.

Checkout and Payment: Payments are collected, usually via cash, credit card, or digital payment options. 

 Preparation for Auction: Unsold items are photographed and described in detail for the online auction. Items are listed on auction platforms or a specialized online marketplace to reach a broader audience.

Promotion: The auction is advertised to previous buyers, local groups, and online communities. Social media and email campaigns may be used to generate interest.

Settlement: After the sale concludes, the client receives a detailed report of items sold and the proceeds, minus any agreed-upon commissions or fees.

Unsold Items: Options for unsold items are discussed. These might include:

• Donating to charity (with receipts for tax deductions).
• Offering remaining items to the client.
• Conducting an additional clearance sale.