Conducting an estate sale is usually done when a family is moving out from a place, when parents die, or when parents have moved in to nursing homes for the old ones. This will give you an opportunity to gain money while clearing out your house.
However, it is not enough to clear out your house. You should know how to itemize your items and estimate their value. You may sell out an item that is too cheap or too expensive for its real value. You should know things about your items since everyone seems to have this fascination of buying old items that are still very much functional, not to mention the economic crisis being experienced by everyone.
Do not worry that there are lots of items that may not be sold. You are conducting a sale, remember? So, you want to have an estate sale business? Check out these steps.
Do your research. You can go to estate sale businesses in your town or state. You should get acquainted with how the business works and how to price your items. You must search about how to identify things such as antiques, or valuable jewelries, collector's items, collectibles or things that may help you with your business. You have to know the qualities that will make your items valuable or of not value at all. You can even seek the advice of professionals or experts so that they will help you with the pricing and identifying process.
Know your responsibility as an entrepreneur. You must have your business registered. There are websites that allow you to register online. Or, go to your government establishments to register personally. You are going to be issued a business registration certificate. Bear in mind that you should collect sales tax on the items that your are selling, then report the sale to the state and deliver the tax to the state, since you are establishing a business, not just a garage sales. You should also secure a permit to conduct a sale. Your community may have rule on conducting estate sales.
You should sit down and talk with your client. You should agree about terms and conditions that you and the ones you will be working with. You can ask for a salary or up to 20 percent commission of the total sales of the estate sale. This is done so that there will be no problem about the billing after the task has been done and completed.
You should also agree on the prices that you will put on the items. Be sure to label the items with the price so that people will not budge in to you on the sale day asking for the price of the items. You can also ask your client if they want to help in the sellout or they would prefer you to hire other people to help since there could be many people who will shoplift in a grand event.
Advertise your sale. Many people in the neighborhood may know that you are conducting an estate sale. But you can attract more possible buyers if you advertise your sale. You can advertise on local newspapers or distribute flyers and have posters. Be sure that you will state the address and the date of the estate sale.