Many clients think estate sale companies charge too much. They do not realize all the expenses and just think about the labor during the sale. Here are some of the expenses involved:
1. Labor- Not only for the sale, but more labor is used setting up the sale. It takes time to stage, research, price and clean the items. It is not uncommon for an estate sale company to use a paid research guide to get the best price for their clients.
2. Advertising- Just posting a free ad on craigslist will not do the trick. Posting to various sites that have a list of estate sales companies is not cheap. They may use contests to have others to promote the sale or even use SMS (Text message marketing)
3. Supplies- This can be for pricing, cleaning or things used to protect the house. This is higher with the Covid-19 to maximize safety of everyone involved.
4. Credit Card Costs- If an estate sale company does not take credit cards, you will lose a lot of sales especially high- ticket items.
5. Fuel & Food Charges- Depending how far the employees have to go, they may get extra for travel. Also, many estate sale companies will buy lunch for their employees because they need them at the house at all times.
6. Bonding / Insurance- These are monthly or yearly costs that help protect the client in case something goes wrong.
7. Internet- Companies may have to pay for a hotspot to research prices or to use their credit card processor.
8. Extra Costs to Sell Products- If your items are sold online thru an e-commerce site or online auction, that is an additional cost for the estate sale liquidation company.
9. After the Sale- If there is excessive trash a dumpster may be needed and additional cleaning. Also, if you want a donation list or items to be donated, often the estate sale liquidators have to take them to the charity.
10. Banking Costs- Many banks charge the estate sale company a fee when they deposited over a certain amount of cash monthly, plus they pay for checks to their workers and the client.
San Antonio Estate Sales LLC does their best to keep costs down. However, we will not cut corners which will result in loss revenue. We use bar code scanning which is an additional cost on labels and the cost to use the software. However, it results in faster and more accurate checkout and detailed sales and inventory management reports. Detailed donation list can be made quickly and easily and can get the money to the client faster.
Hiring a professional estate sale company isn’t something you do every day, so it can be hard to know how much you should expect to pay for their services. As you research estate sale companies, educate yourself on how they structure their fees and investigate what services to look for.
When you hire an estate sale company, you’re employing a staff of people to come into your home, evaluate and inventory your items, hold a sale, and clean up after themselves. It’s hard work. It’s a job that takes days to complete, and requires many hours of labor.
When starting an estate sale business, one always wonders how much to charge in estate sale fees or establish a standard estate sale commission to follow. How much do estate sale companies charge? It’s not as simple as setting a number, there are a few factors to consider.
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