{"id":2375,"date":"2018-11-06T15:07:08","date_gmt":"2018-11-06T22:07:08","guid":{"rendered":"https:\/\/estatesales.org\/university\/?p=2375"},"modified":"2018-11-06T15:09:27","modified_gmt":"2018-11-06T22:09:27","slug":"estate-sale-rules-guidelines","status":"publish","type":"post","link":"https:\/\/estatesales.org\/university\/estate-sale-rules-guidelines\/","title":{"rendered":"Common Estate Sale Rules and Industry Guidelines"},"content":{"rendered":"

Although the estate sale industry has been around for years, there is no governing body that establishes estate sale rules<\/a>, industry regulations or estate sale guidelines for companies to follow.\u00a0 Professional liquidators establish their own rules and guidelines to follow, and those may even change from one sale or company to another. In this article, we’ll discuss some commonly followed rules and guidelines that estate sale companies follow.<\/p>\n

\"Estate<\/p>\n

Common Estate Sale Rules and Regulations<\/h2>\n

Commission Structure<\/h3>\n

While the amount of commission an estate sale agent can earn<\/a> isn\u2019t regulated, you\u2019ll find it\u2019s pretty common to have many estate sale companies earn their living based on a commission structure from the proceeds of an estate sale.<\/p>\n

The commissions will vary based on many factors including the size of an estate sale, type of items to be sold, and\/or geographical location.<\/p>\n

One big variation you will find with commissions is whether labor is included or not included in the proceeds earned.<\/p>\n

There are no set estate sale regulations on commissions.\u00a0 Every company will make their own, but should have it clearly outlined in an estate sale contract<\/a> to the client.<\/p>\n

Of course, additional fees many apply based on other factors, but the majority of liquidators will charge commission as one of their estate sale rules.<\/p>\n

Estate Sale Contract<\/h3>\n

Most professional estate sale agents will only perform a sale with a written estate sale contract.\u00a0 There are no estate sale industry guidelines on what type of contract to use, or a government accredited contract to follow.<\/p>\n

Companies will establish a contract between them and the client which outlines all the details and responsibilities of parties involved.\u00a0 It is a written agreement that protects both the client and the company.<\/p>\n

Estate Sale Rules for Discounts<\/h3>\n

One of the most common estate sale rules you\u2019ll see every company follow is a discounted structure over the course of an estate sale or none at all.<\/p>\n

The discount amount may vary among companies, but each company has a discount structure established and often outlined in their estate sale contract in order to achieve a successful sale for the client.<\/p>\n

Some companies are flexible on their discounts, others are firmer,\u00a0 and some companies don’t discount at all.\u00a0 However, almost all companies follow some sort of pricing structure<\/a> over the course of the sale dates.<\/p>\n

The discount structure may also vary from one sale to another, however in order to be successful, sell the contents of a home within a few days, a discount structure is quite common.<\/p>\n

Jerri Hardwell Delany, owner of We do Estate Sales in Northeast Georgia <\/a>and a member of our private Facebook Group for estate sale professionals<\/a> said:<\/p>\n

\u201cOn the first day, we are always firm on the prices and have a sign that states our pricing policy; Friday prices are firm, Saturday everything 25% off, Sunday everything 50% off.\u00a0 I let people leave bids in an amount at least 10% more than the half price would be on Sunday.\u00a0 We open the bids after we close on Saturday and call anyone who won their bid.\u201d<\/p><\/blockquote>\n

As you can see, the estate sale discount rules vary among companies but regardless there are rules to follow.<\/p>\n

Estate Sale Marketing<\/h3>\n

Proper marketing is extremely important for estate liquidators<\/a>, it\u2019s their way of getting buyers to the front door.<\/p>\n

EstateSales.org<\/a> has written about many marketing tips for estate sales<\/a> and offers a robust listing site that allows companies to list their company, feature their upcoming estate sales<\/a>, and an auction selling platform<\/a> to sell items online.<\/p>\n

There are no set rules for marketing estate sales, however companies do understand the importance of it, therefore the professional companies have established common procedures and guidelines they follow with every sale they hold in order to generate estate sale leads<\/a> and reach buyers.<\/p>\n