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ARE YOU LEAVING MONEY ON THE TABLE FOR YOUR CLIENTS?

By
Real Estate Agent with Dunnigan, Realtors, Sacramento (916) 425-9715 CalBRE # 01188158

When you list a home that is involved in an estate (probate or trust), do you give your sellers the very best advice?  What I am referring to here is an estate sale to sell the personal items left in the home.

It seems that lately I have listed several homes that were inherited by relatives.  For them, it is such a difficult time.  They are grieving the loss of a loved one and at the same time dealing with not only the property, but what to do with all of the personal items left in the house.  We can make a difference for them.

Find a qualified estate liquidator.  Suggest to them that after they distribute the items the family wants, leave EVERYTHING in the house for a liquidator to deal with.  Liquidators want the small, insignificant stuff every bit as much as the collectibles and furniture. The small items are a draw for the public and the collectibles to the collectors.  This way, the sellers don't have to deal with hauling, packing, cleaning, etc.

The liquidator I recommend sorts, prices and sells everything. What doesn't sell, she donates to the appropriate charities.  She has the house cleaned when she is done.  If I am doing some updating to the house, she will sell light fixtures, carpet and window treatments.  This service is not necessarily cheap...she collects a fair percentage for her trouble...but when the gross is $20,000 (as it was in my last one), the seller is thrilled!

www.PaulaSwayne.com

Comments(24)

Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

You are absolutely right, the sellers are often grieving or worse in contention and the best way to handle the situation is to hire a professional. We have a couple of good ones here in Austin that are professional and efficient. It just takes a load off of the estate and the real estate agent!

May 15, 2009 01:53 PM
Ron Tiller
Star Referral - Grand rapids MI - Grand Rapids, MI

I've always recommended a professional. I have yet to have a client follow my advice. Maybe next time.

May 15, 2009 01:55 PM
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Lorrie!
Thanks for the caveat...you are absolutely right! 

Hi Dinah!
It is a wonderful service when the time is right.  Usually my clients can't believe how much these people do...or the money they end up receiving.

Hi Russell!
Obviously, you have done this as well...and it is always good to have a few to recommend. The one that most often ends up doing my clients sales is extremely outgoing...so much so that she puts a few people off (so I always forwarn them), but she also has a heart of gold and is as honest as they come.

Hi Ron!
It is too bad that they don't listen to your advice...life could be so much easier! As you say...maybe next time!

May 15, 2009 02:09 PM
Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Thanks Paula and Lorrie. This is always something that comes up and your thoughts and offers to help with be kept in mind.

May 15, 2009 03:20 PM
Angelia Garcia
Pure Realtors - Dallas, TX

Wow, what a great sale.  20K is alot of money these days.

May 15, 2009 03:29 PM
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Kathy!
It really is a great help to my clients...hopefully to yours too!

Hi Angelia!
What you would be amazed at is the kind of things that were in the sale...all day-to-day stuff, some furniture, but no expensive stuff.

May 15, 2009 03:47 PM
Brian Lee Burke
Kenna Real Estate - Lone Tree, CO
Broker & Advising Expert-Kenna Luxury Real Estate

Paula - Estate sales around here are hugely popular. Shoppers line up in the wee hours of the morning to be first in the house. ~Rita

May 15, 2009 03:51 PM
Elizabeth Bolton
RE/MAX Destiny Real Estate Cambridge, MA - Cambridge, MA
Cambridge MA Realtor

Hi Paula ~ We have some great outfits who hold estate sales in this area.  I used to be a regular attendee - in line at 5 am and all.  It's a really good option for some people.

Liz

May 15, 2009 04:15 PM
Sally Dunbar
Lyon Real Estate, Fair Oaks CA (Sacramento Area) - Fair Oaks, CA
Fair Oaks Realtor - Fair Oaks Homes for Sale

Good advise Paula... it can really take a load off a family to just call in the pros.

May 15, 2009 04:16 PM
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Rita!
I happened to show a home I have listed 3 doors down from one I am going to list that was having it's first day of the sale.  The parked cars were bumper to bumper on the entire street and the cross street! The only parking place was the driveway. It was crazy!

May 15, 2009 04:17 PM
Renee Marrs Caperton
Marrs & Associates - Corsicana, TX
Realtor - Corsicana Texas Real Estate

There are several people that have provided this service in my area for years-they do a great job.  This does take the burden off of the seller-it's a huge job. 

May 15, 2009 09:48 PM
Irene Kennedy Realtor® in Northwestern NJ
Weichert - Lopatcong, NJ

Paula,

Your sound advice applies to those of us working with buyers too. Am pulling together an offer on an estate and buyer asked about purchasing with contents of house. While I explained it would be unlikely, I did check with the listing agent - who had a liquidator all lined up.  I'll let my buyer know when the auction is so he can attend. Makes for a cleaner deal all around.

May 15, 2009 11:50 PM
Caren Wallace
Premier Property Group LLC - Tualatin, OR
Portland Caren Real Estate

Paula, great advice, I wouldn't add anything......those had to be very happy owners with an extra $20,000 profit!

May 16, 2009 01:08 AM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

Yup.  I have an estate sale expert who I use when the need arises.  She's great and very organized.  She generally charges 30% of the take and for a small additioanl percentage, she will orchestrate the removal of anything left-over from the sale.  Anything donated to charity generates a receipt to the Seller's designate.

May 16, 2009 01:53 AM
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Paula, Thanks for giving me this insight, of course I have heard of estate sales, but didn't know how the estate liquidators worked. What a relief for the estate to not have to worry about what to do with all the stuff.  I will keep this post in mind, when I have a estate in title.  Thanks!

May 16, 2009 06:37 AM
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Liz!
I agree...it is a wonderful service in these circumstances! 5AM...wow!

Hi Sally!
It is amazing how many people don't even know about the service.  I have even had clients use it when they are scaling down and have too much big furniture.

Hi Renee!
People don't realize the amoung of preparation it takes for these sales...at least 3 full days of hard work!

Hi Irene!
Good point!  It is nice when some big items can just be left at the property!

Hi Caren!
They were thrilled...because even the liquidator underestimated how much they would bring in!

Hi Tom!
It is great when you have someone you trust to recommend!

Hi Mary!
Your clients will think you are the best!

May 16, 2009 11:23 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Paula - I hadn't thought about using an Estate Liquidator, that isn't a bad idea.

May 16, 2009 01:58 PM
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Myrl!
Since you are local, if you need any referrals, let me know!

May 16, 2009 03:04 PM
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Paula....that is a great idea! I've not had to deal with an estate sale, but will certainly keep this in mind.

Sad story, but before my Mom's house burned down several years ago, my sisters and I wondered how we would handle her home...it was 3500 sq ft filled to the brim with Early American antiques. Sadly, a higher power solved that problem for us.....We would of needed a service like this!

Thanks for the tip!

May 17, 2009 03:28 PM
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Thom!
I am sorry to hear about your mom...several years ago still is not easy.  Fires are just plain ugly...and I hope with insurance you came out ok...even though I am sure some precious memories were lost.  Take care!

May 17, 2009 05:03 PM