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How to Do an Estate Sale

March 17, 2012 | Comments: 0 | Views: 201

How to do an estate sale and get large crowds!

The Estate Sale Business

A) How to acquire estate sales.

Find the area of town where there are a lot of seniors in single family homes, and solicit there.

a) Community & Senior newspapers, b) ads under "garage sales" in major newspapers,

c) solicit attorneys for probate sales & bankruptcy's, d) solicit Realtors, movers, & moving packing services.

B) What the contract should say.

1. Seller has clear title to all goods.

2. Sellers homeowners insurance is current, since this sale is in their home.

3. Commission charged. Such as, 30% for all household goods sold in the house. 35% if taken to another location.

10% of all profits from outside goods from another estate brought in and sold in your house.

10% of any expensive items such as, cars, boats, diamonds, etc.

Note: the percentages are for this guidelines demonstration only!

4. Any buyer's premium charged by an Auctioneer or auction house, if applicable, belongs to the auction business

C) What date to have the sale.

1. The date should not be when there is a major holiday or major event in the area, unless you are tying this in with the holiday or event.

2. The days of the sale should be Friday, Saturday, & Sunday.

a) Friday is often a large traffic day, because a lot of people don't work on Fridays, and their Saturdays are tied up.

Then to, everyone wants to be there on the first day! Note: this might change in a non-retirement community.

b) Saturdays are always a great day, and will be your auction day if you cannot do it on Sunday.

D) How to get estate consignors.

1. In the beginning, walk the neighborhood of your sale, and pass out flyers announcing your sale as a "community service announcement." At the same time, you can ask for items that have some value, for consignment.

2. Solicit dealers that have jewelry, figurines, collectible coins, etc that you may know or find.

3. Visit local auction houses, as they can probably supply you needed goods to restock on Saturdays. Then to, they can pick up any remaining goods after the sale to liquidate.

E) How to get an auto or boat option.

1. Depending on the price of your house, contact independent dealers or can get you deals on cars & boats, that will match the area of the house.

2. Depending on local car dealer laws, we have an option to buy agreement for a double close. This is because dealers cannot sell cars & boats if not on their lots, in some cases.

F) How to price everything.

1. An auction house may help you in the beginning, if you have no experience in pricing. Remember, this is not a garage sale!

2. Fill mantles a tables up with nice collectibles. Take family and extremely low end goods to the patio or garage.

3. Check eBay for values of name items.


1. Do not haggle over prices or make anybody mad, if possible. After all, you are there to sell the house and give out flyers for them to take to their friends!

2. Do not sell anything for less than 50% of what you marked it. That means you do not know what you are doing!

H) How to get people to sign up for future sales & WHY!

1. One way is to have someone there to register them with there name, phone number, and e-mail address.

2. Another way is to give them a small gift, or a discount coupon if they want to purchase something.

3. The main thing is that you have to ASK!

I) Advertising, low, median, and high budgets.

1. You can get hundreds of people by simply making flyers and having someone pass them out to every front door,and by placing a classified ad under "garage sales," because there usually are no estate sale categories.

Note: your headline will be Estate Sale!

2. Your next level will be to buy a least two 3' X 4' signs, and have people holding them on the intersections near the house.

3. High end budgets will have 50 to 100 bandit signs. However, code enforcement disallows them almost everywhere.

Then to, you can use color mailers, local shopper papers, or more sign walkers. Note: sign walkers pull big time!

J) Employees to hire.

You need the most personable and patient people you can find. Remember why you are there. Sell the house and get more business. Furthermore, they need to be clean cut and be able to adapt to the customers!

K) How to pay the estate and consignors.

1. You need to pay the estate as soon as possible. When you are a going business, you can wait up to 30 days for checks and/or credit cards to clear.

2. Consignors need to be paid weekly.

3. Nobody gets paid the days of the sale, because with our methods you will have way too much cash to count!

L) How to rent out space in the home, if necessary.

Bedrooms, for example, where there is no furniture, can be rented to a consignor. Then to, if you have a referral, you might let them have it for their items. This generates a lot of cash flow.

M) Signs to buy.

1. 18 X 24 signs from your local sign maker are the best. Then to, you must check to see if permits can be bought for them. We were told for years that they did not have any to sell, when they actually did.

2. 3' X4' for the sign holders. Everyone can see them, and they are not as heavy as larger ones, or have as much wind resistance.

N) THE QUESTION YOU MUST ASK EVERYONE! After all, these are why you are doing all this, besides having fun and making money.

Do you know of anyone who has an estate or house they would like to sell?

Jim Ferrell is America's #1 Probate speaker. Furthermore, as a Certified Probate Liquidator he has liquidated hundreds of estates. In addition to this, he is a Certified Probate Real Estate Specialist and licensed auctioneer. Therefore, from his vast experience he is sharing many of the estate problems he and his company have came across over the years and how to avoid them.

For Jim Ferrell's book "Get BIG Crowds" please go to the below website and click on books.

For information on the probate process or for training on becoming a Certified Probate Liquidator or Real Estate Specialist, please go to the following website and fill in the information box.

Source: EzineArticles
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Article Tags:

Estate Sale


Estate Sale Business


Garage Sale




Jim Ferrell


Orlando Florida

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