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How Much Do Estate Liquidators Charge?
Is an estate sale worth it? How much do estate sales companies charge? Read on to learn everything you need to know here.
There are many reasons why someone might hire an estate sale agent to liquidate their estate.
They may be responsible for the estate of a recently-passed love one; they may be on the verge of retirement and looking to sell up and downsize, or they may be looking to clear their debt obligations.
Regardless of the reason, the cost is largely predictable. If you’re wondering how much do estate sale companies charge, the answer varies.
The type of company, their experience, and the complexity of the sale will all affect the cost.
Let’s take a closer look at how much estate sale brokers typically charge.
Out of Pocket Costs (or Lack Thereof)
It is worth noting that, first off, you might not pay a single penny out of your own bank account.
Many market-leading estate sale agents such as Clearly Quick work entirely on commission.
Estate sale commission means that the company will take a cut of any net profit generated from the sale of an estate.
This amount can range from between 20 to 40%, depending on the company.
Some companies might demand certain out-of-pocket costs to cover the expenses incurred by them. However, this is quite rare.
The Choice of Company
If you’re still wondering how much do estate liquidators charge, it is also worth considering the type of company that you choose.
It is common for older, more prestigious companies to charge a higher commission. This is because they have talented staff who will be able to liquidate your estate quickly and for a good price.
They will also have the local connections needed to facilitate all of the legal aspects of your estate sale in a timely fashion. Put simply, you get what you pay for.
The Type of Estate
In addition, the actual nature of the estate that you wish to liquidate will also have an impact on the commission that is charged, as well as other potential costs.
If your estate is large and contains a huge inventory, this will drive prices up.
This is because a greater amount of manpower, labor hours, and expertise will be needed to competently execute the sale.
On the flip side, you might find that a smaller estate also costs more.
This is because, if an estate is so small that there is unlikely to be a large profit, then some brokers might charge a fee to cover their potential losses.
Finally, it is important to remember that many experienced estate sale agents can provide additional services for an additional cost.
Your estate agent may recommend that you hire a full-time security guard during the estate sale, which they will be happy to arrange.
They may be able to assist with all tax matters emanating from the sale.
They might provide cleanup and disposal services post-sale. In addition, you will likely be charged an estate sale cancellation fee if you abruptly cancel the sale after work has begun.
Now That You Know How Much Do Estate Sale Companies Charge...
Now that you know the answer to the question “how much do estate sale companies charge”, you are ready to approach this delicate and often emotional process with knowledge and confidence.
For more information on how to stay on top of your family’s finances, make sure to consult our regularly updated Financing & Investing section for expert guides and advice.