There are several types of buyers. Some people just want to look – it’s something to do on a Saturday morning, particularly since we’ve all been cooped up quite a bit lately. But those shoppers just out to browse are not your best buyers and your goal is to sell everything. To do that you need to optimize the sales process. An online “by appointment only” sale is the best way to optimize the sales process, stay in control, and save you money.
But let’s take a quick look at the pros and cons of an onsite sale through an estate sale liquidation company.
Pros of an onsite estate sale:
- Liquidator handles everything – you don’t even need to be there. They charge a hefty commission (about 40-50%), but it might be worth it depending on your situation.
- Quick sale and resolution. The sale is typically 2 days. Whatever is left will be disposed of by liquidator.
Cons of an onsite estate sale:
- Remember your shopper – they might be just browsing – taking up space for serious buyers (and you only have 2 days).
- Strangers will be walking through your property and pawing through every nook and cranny of your house.
- Security concerns need to be mitigated.
- There are no state or national licensing, ethics, insurance or regulatory requirements for estate sale companies.
- Two days is not enough to sell all or most of the items in any house unless you are pricing very low. To assure that most things sell, the liquidator will heavily discount on day two.
- Typically, sellers don’t receive an itemized report from the liquidator of what each item sold for unless it is above a certain amount.
- Owner and family cannot attend the sale. This is generally a good thing, but it can be upsetting for some family members that might feel slighted. It is not uncommon for a family member to disrupt the sale and cause confusion to potential buyers. With an online-by-appointment sale you are in control of this situation.
- There is a potential for conflict of interest by your liquidator.