What Is An Estate Liquidator and what does an Estate Liquidator do?

Looking to host your own estate sale? If so, you might be wondering if it’s better to do it yourself or hire an estate liquidator. We suggest hiring an estate liquidator. Estate liquidators bring together all the moving parts of an estate sale. They are qualified professionals whose expertise in the industry enables them to efficiently manage all of an estate sale’s tasks. Keep reading to learn everything you need to know about estate liquidators, including what they do, how they get paid, and how to find one to manage your next estate sale. If you’re thinking of having an estate sale, we suggest you visit one first to get an idea of what to expect. Typically, estate liquidators organize and conduct their sales in a similar fashion. Estate sales usually follow the same general format: Held inside the home and across the property, Take place over two to three days, Involve the sale of someone’s (typically a family member’s) personal possessions,

Include many individually priced and displayed items, Open to the public, and Involve quick disposal of unsold items, A realtor may list the home after the estate sale.

An estate liquidator turns a person's property into cash. When individuals pass away, they often leave possessions behind such as homes, furniture, cars, clothing, and other assets that are not "liquid," or cash-based. An estate liquidator is responsible for turning these assets into cash. Generally, estate liquidators are called in by those who inherit an estate. The executor of a will, or the person put in charge of handling the distribution of assets, may call an estate liquidator. Heirs who inherit a home or other assets that are not easily turned into cash may also call a liquidator directly. Estate liquidators often hold estate sales after the owner of the estate has died. Estate liquidators often hold estate sales after the owner of the estate has died. 

Before the estate sale, a liquidator appraises and prices the estate’s items for sale. This requires expertise, as well as knowing what market price is for certain items in the area. A good estate liquidator will know how to price items low enough to get shoppers to think they’re getting a deal - but high enough to make the most money for their client. Other pre-sale duties involved in setting up an estate sale include cleaning and organizing the estate sale, marketing and advertising, and prep activities like creating and posting signage, obtaining a cashier bank, and other things.

Running an estate sale takes work - both time and human-power. Conducting sales with proper record-keeping requires juggling a bunch of moving parts. In this way, a professional estate liquidator is a lot like a project manager - setting up processes, assigning resources, and keeping a timeline, while managing customer service. During the estate sale, the estate liquidator may need to manage their clients (the owner of the estate) as well, whether this means dealing with pesky relatives or keeping emotional clients away from customers or even off the premises.

When the sale ends, an estate liquidator’s work isn’t done just yet. There are loose ends to tie up, including how to package and deliver any large items or items to be shipped, how to deal with remaining items that weren’t sold, cleaning up the estate, arranging for charity donations or pickup, and most importantly, making sure everything is recorded and itemized for tax purposes - and clearly delivered to the client. Even soliciting positive reviews from happy clients or customers is part of the job to secure future business. Another way liquidators might secure future business is by networking with realtors, lawyers, senior citizen groups, and other community associations. It some regard, an estate liquidator is always on the clock.

Estate liquidators are needed now more than ever. But this is just the beginning. The Millennials have now surpassed the Baby Boomers in size, and who knows what the next generation will bring? Someday these people will also get old, and estate liquidators will be needed to manage the world’s stuff. Being an estate liquidator is a great job for someone who likes to wear many hats, loves stuff, enjoys being tactile, and is good at helping people. Some might say it combines the best of both worlds: a profitable, interesting career that changes constantly -- with a life of service.

Busby Estate Liquidation & Realty Services

830 Eyrie Dr Suite 1030, Oviedo, FL 32765