Jan 20, 2023
There are many causes for estate sales. Knowing how to hold an estate sale can make the process easier while removing any potential hiccups, whether it's for you or a loved one. If you're downsizing, holding a sale is a great way to get rid of extra items and make extra money that you can put toward retirement.
In this blog, we’ll provide a little background information on estate sales and their benefits. We’ll also discuss the four important steps you should take to ensure your sale goes off without a hitch. So, enjoy part one of this two-part blog series where we uncover a total of eight items you should complete to have a successful event with your estate sale company in Overland Park.
First Off, How Do Estate Sales Work?
It's crucial to first comprehend what an estate entails. As a leading estate auction company in Overland Park, we know that your net worth is comprised of the assets that make up your estate. This includes household goods, property, money, vehicles, etc. What will happen to each of these possessions after your passing is organized through a process known as "estate planning," which you may have heard of.
Many of these items can be sold at an estate sale to liquidate them. This may take place when you decide to downsize, after a loved one passes away, just before you get divorced, or if your parents decide to move into a retirement community as they age. They are comparable to a yard or garage sale, but they are usually much bigger.
What Happens at an Estate Sale Hosted by an Estate Sale Company in Overland Park?
Each estate sale is conducted differently, typically in accordance with the seller's preferences. They are typically held at the home of the seller or the owner of the items being sold. Shoppers can browse at their leisure and gather the items they want because the items for sale will be identified with price tags. When they are ready to buy, they will locate the estate sale owner and make their payment.
Many people pay a real estate auction company in Overland Park to organize the event, though some people prefer to do it themselves. As a leading estate sale company in Overland Park, our team at Mayo Auction & Realty knows that estate sales are a lot of work. We recommend having experienced professionals with you during your sale. Managing one by yourself can be strenuous and stressful.
Here are our four tips to make your sale a success.
How to Conduct Your Own Estate Sale
Whatever your motivation, organization is the key to a successful estate sale. Depending on the circumstance, preparations could take anywhere from three weeks to two or three months. Again, that’s why recommend a professional estate auction company in Overland Park to help.
You can lessen your workload and the stress associated with the process by asking others to assist. Keeping track of when you need to do specific preparation tasks and what you can delegate to others also helps. Review the following checklist in the weeks leading up to the sale to stay organized and make sure you don't forget anything.
Next Step, Our Estate Sale Company in Overland Park Says, “Prepare Your Items”
Even though not everything you own will be able to fetch a high asking price, giving your less valuable possessions a little TLC might increase their value. You can have an impact with even goods that are only a few bucks each. You could make close to $100 or more by selling several inexpensive items.
There may be some items that you considered throwing out that are valuable in someone’s eyes. Items that are relatively inexpensive can bring in a greater sum of money, particularly if they are prepared beforehand and are attractively displayed. Your estate auction company in Overland Park can be very helpful when preparing your items for the sale.
Talk to Your Estate Sale Company in Overland Park and Set Your Prices
How to price items for an estate sale is a challenging question you might be asking yourself. You'll want to bear a few things in mind. The most crucial tip is to conduct research.
Pricing items incorrectly can prevent sales while underpricing items results in a loss of potential revenue. For an idea of what comparable items are selling for online. Popular sites for online sales include Craigslist, Facebook Marketplace, or eBay. Consider using a professional appraiser to determine the right price for valuables. After all, you don’t want to price something too low and later find out just how valuable that item really was.
Make sure all of the items you intend to sell are marked with their respective prices before the actual sale day. Additionally, you should ensure that non-sale items are clearly marked. By doing this, you will put an end to inquiries about what is and isn't for sale, freeing up your time to assist customers in the buying process.
You can make price tags ahead of time, or go buy some at a local dollar store or supermarket. Your estate sale company in Overland Park will provide helpful guidance on choosing the right prices for your items.
Lastly, Our Estate Auction Company in Overland Park Says, “Present Your Products for Sale!”
The way you present the goods for sale may have an impact on whether or not they sell. Dressers, chairs, and desks left in the garage might go unnoticed. As an alternative, think about giving them a thorough dusting and staging them like you would in a house so potential buyers can better understand its value for their own home. Display any electronics in the living room or other suitable space, such as the den or TV room, and kitchen utensils on the dining room table in the kitchen.
Are You Looking for a Dependable Auction House in Overland Park?
Mayo Auction & Realty is a full-service real estate auction company in Overland Park that effectively markets your property to the world. As a seller, you will enjoy getting market value for your property or assets in the time frame you need. We are an Overland Park online auction company as well. As a buyer, you will enjoy our easy-to-use competitive bidding marketplace.
Whether you are buying or selling, Mayo Auction & Realty will be here to guide you through the entire process. The Mayo Auction & Realty team is here to make your life easier, so contact us today. We look forward to assisting you with all your auction and estate sale needs.