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Are you planning a big move? Then you probably have a lot on your plate (and a lot of details in your head).
If you’re also hoping to use this move to downsize to a smaller place, you’ve got even more to keep track of. What are you going to keep? And what will you do with all the furniture, knick-knacks, and general stuff you’ve accumulated over the years?
First, take a deep breath and know you don’t have to face the extreme stress of a big move alone.
To make the process smoother, we decided to shed some light on one of the best (and least known) resources to help you downsize your belongings before getting into a smaller home. So here’s everything you need to know about working with an estate sale company to downsize—plus all the tips you need for hiring one.
How can an estate sale company help with downsizing?
Most people assume estate sale companies are hired only when someone passes away, and everything in the deceased’s home (including the property itself) must be sold.
But most estate sale companies offer a range of services, including assisting with regular moves that involve downsizing.
“We assist clients in selling accumulated items that they no longer want and help them turn a profit by pricing them at market value,” says Bob Lang, brand president of Blue Moon Estate Sales. “We handle all aspects of the sale, including hosting the event, bringing in shoppers, and handling customer interactions.”
Bonus: The company also handles all the money, so you don’t have to haggle over your collection of Fiestaware.
Estate sale companies help you with the Marie Kondo process
Besides taking care of selling your unwanted stuff, estate sale companies can also advise you on what to sell.
“We work with the homeowner to identify items worth selling and those that should be donated or discarded,” says Mark Gates, owner of Caring Transitions in St. Paul, MN.
Gates explains that some companies, like his, might even help you sell your most valuable possessions online with popular auction websites.
“A good estate sale can pull in a few hundred shoppers on a weekend, while a website like CTBids Online Auction can attract tens of thousands of page views,” Gates adds.
The time frame of working with an estate sale company
Working with an estate sale company is relatively straightforward, especially if you start working with it early in your moving process.
“Clients should engage with us as soon as possible once they know the date of their move,” says Lang.
Most companies provide free consultations on the sale details, including the selling process and the dates you wish to hold the sale.
Once you choose a company, expect a sale to be completed quickly. Lang’s sales, for instance, are typically done within two days unless more time is needed.
How much does it cost?
The best part about working with an estate sale company is that its earnings are directly tied to yours. The final cost will depend on the scope of the sale and the services the company provides.
“An estate sale company typically charges a commission fee based on the total sales amount or a flat fee,” says Joel Comino, founder and CEO of Next Modular. “Some companies may charge additional fees for cleaning and staging the property.”
The money isn’t coming directly out of your pocket but from the cash made at the sale.
Commission fees tend to be around 30% to 40% of total sales, plus any additional fees for cleaning, staging, or advertising. So when the cost is based on a percentage, you can expect to pay more when you sell more.
But that also means you’ll have offloaded lots of unwanted stuff and made some extra cash to fund your move—without having to do any legwork to make that happen.
How much will you make?
Unfortunately, predicting how much you will profit from an estate sale is almost impossible.
Something you bought for a lot of money in the past might no longer be in style, while other items might have become highly desirable over time (maybe that midcentury modern console).
But once the sale is done and the estate sale company takes its cut, you will get a chunk of money yourself.
“After the sale, we will provide a check and an inventory breakdown within five to seven business days,” he says.
The final word
Is hiring an estate sale company to help with downsizing worth it? That probably depends on how busy you are and the quality and quantity of things you want to sell.
Remember that some things (like worn-out clothes and books) might not fetch much money and likely won’t be worth anyone’s time trying to sell. But if your home is filled with designer clothes, collectible items, or rare antiques, hiring a professional who knows how much they are worth and how to sell them may be well worth it.
And since most estate sale companies offer a free consultation, there’s no harm in letting them review your inventory and write you a quote.
The post Downsizing? Here’s How an Estate Sale Company Can Help (and You Can Make Some Cash) appeared first on Real Estate News & Insights | realtor.com®.