Ways to Sell Your Stuff.

Episode #7: Downsizing 101: Sell. Recycle. Trash.

This week, the final episode in our Downsizing 101 series, "Living Smaller & Loving It!" blog, focuses on selling, recycling, and trash. Episode #6 post covered donation scenarios and some local options in Kansas City. Episode #5 blog post looked at gifting loved, but unwanted items, to family and friends. Episode #4 emphasized the importance of "you" and keeping (within reason) the things that have special meaning for you. Episode #3 focused on setting goals and creating a personalized plan tailored to your specific downsizing scenario, whether planning a move or staying in your current home. Episode #2's blog post covered the decision and commitment to downsizing and living a simpler life with fewer possessions. Episode #1: Hello!

The five categories to use when sorting.

This is the final blog post covering the 5 Sorting Categories. See the introduction paragraph above for links to previous sorting posts: Keep, Family & Friends, and Donating.

Sorting Categories 4 & 5: SELLING. RECYCLE/TRASH.

#4: Selling your stuff.

If you've ever spent hours and hours preparing for and then holding a garage sale, raise your hand. Raise your hand if you've ever attended or held a moving sale.

If you have ever consigned anything to a retail shop, raise your hand. Have you ever sold anything online (Facebook Marketplace, Craigslist, or eBay) or had a friend sell for you? Raise your hand. If you've ever been to an estate sale or auction, raise your hand. Have you ever sold items to a buyout service? Raise your hand.

The methods for selling your belongings may vary, but they share one common goal: to maximize their value. In this post, we'll break down each selling option with the advantages and potential disadvantages of each.

Garage Sale ~ Moving Sale ~ Estate Sale ~ Online Sale ~ Auction ~ Consignment ~ Buyout

Garage or Yard Sale. General, everyday household items that are priced relatively low to sell quickly. The seller must gather items, set prices, mark items, and then set up and supervise the sale. Negotiating skills are a plus, as the goal is to be left with few unsold items. Cash is typically accepted, but electronic payments can also be accepted. Signage and online advertising are used to attract customers. Unsold items can be packed away, gifted, or donated to a thrift store. Advantage: You have complete control over the entire process. Disadvantage: The time spent is typically considerable, and the earnings are usually minimal.

Moving Sale. This type of sale typically includes a broader range of items, with greater value, compared to a garage or yard sale, such as furniture, tools, and household goods. The sale is managed by the seller and held inside the home, with sale items typically displayed in various rooms. As with a garage sale, the seller must price and mark all items, display the items, and supervise the sale. Negotiating skills are a plus. The sale can last one to two days or longer, depending on the quantity of merchandise available for sale. Signage and online advertising should be used to attract customers. Cash is typically accepted, but electronic payments can also be accepted. Advantage: You have complete control over the entire sale process. Disadvantage: The time spent on pricing items, setting up, and managing the sale. The seller may or may not be moved out of the house. If the seller is still living in the home, they must block off access to areas of the home that do not contain sale items.

Estate Sale. We concluded our 15-year run of holding estate sales in October 2021. The information provided in this section is based on our professional experience over those years in the business. Although we no longer take sales, we continue to consult with clients on an as-needed basis (hourly rate applies) on sale matters.

Here are a few (there are many not listed) of our pointers regarding estate sales:

• When searching for an estate sale company, we recommend seeking referrals from family and friends or using EstateSales.net as a resource. The EstateSales.net website offers the ability to search for estate sale and auction companies in your area.

• Please allow enough time for the sale to be held. Planning is crucial, especially when you are up against a deadline, such as a closing date for the sale of your home. When you decide you want to have a sale, begin contacting companies to schedule interviews/walk-throughs. We suggest meeting with at least two companies.

  • Phone contact - inform the estate sale company of your dates/timeframe, even if they're not set in stone. Does your calendar work with theirs?

  • Phone contact - Does the estate sale company have a minimum dollar amount requirement for the salable contents? Some companies won't contract for sales below a certain gross content amount. Once you know their requirements, you'll be able to set an appointment or continue your search for a suitable company.

  • Phone contact - inquire about their percentage or fee structure - how they charge for their services. Be informed about what you'll be paying for. The percentage of the gross sales is what you'll pay the estate sale company, plus any additional agreed-upon amount written into the contract.

    
    

• Once you're ready to set up a walk-through, do your best to ensure that sale items are clearly separated (either physically or visually) from items you'll be keeping/moving. An estate sale company will base its estimated content value and the decision to take the sale on what they see, or what is understood to be included in the sale at the time of the walk-through. TIP: Use sticky notes or blue painter's tape to mark larger items not included in the sale, such as living room furniture, the rocker in the den, the office desk, and the lawn tractor, etc.

  
  

• If the estate sale company you're interviewing doesn't use contracts, you shouldn't use them, because contracts are critical, and so is insurance, both for the estate sale company and the homeowner/seller. Understanding the contract is very important, so it's advised to have the representative from the estate sale company thoroughly review the contract with you before you sign. If you have questions, ask.

  
  

  You've signed an agreement based on the contents that the selling company agreed they would sell; therefore, you cannot remove items from the sale without notifying the company. If you fail to inform, the contract may be voided. This is especially important for higher-valued items.

  
  

• It's essential to cover all bases in the contract and be clear on the responsibilities of both the selling company and what you'll be expected to do.

  Here are a few examples of duties/tasks that may need to be considered and written into the contract:

  - Will a dumpster need to be dropped off for trash, and who will be responsible for the cost?

  - Who will be responsible for disposing of the remaining contents after the sale? If you are contracting with the sale company to oversee the pickup of unsold items, are there specific dates or a timeframe for the pickup? (This is critical, especially if you have a closing date close to the sale's ending date.) Will an estate sale representative be present in the home to supervise the pickup?

  - Are you, as the seller, allowed to visit the sale during the setup or the actual sale? Are you allowed to return to the home after the sale and retrieve any items that didn't sell?

  - Who is responsible for the cleanup of the home after the sale? Remember, estate sale companies do not perform deep cleaning unless specifically contracted for. Still, they will wipe down and clean surfaces, run the vacuum, sweep out areas such as the garage and basement, and dispose of the trash left from the sale. The home should be emptied and cleared out.

  - How soon can you expect your proceeds from the sale?

  
  

• Plan, plan, plan. Depending on the size of the sale (i.e., the amount of salable content), it can take the estate sale company several days + to prepare the sale. The condition of the sale contents is another significant factor. Example: If the sale company's staff have to spend time cleaning items or disposing of trash, there will likely be additional charges added. This is understandable as tasks like these take time away from the prep, pricing, and setting of the sale. During the walk-through, the estate sale company should identify any additional tasks that will need to be completed. Any upcharges should be noted and written in the contract.

• Another point to remember is that you are hiring a professional estate sale company that will know how to price the contents of the sale. However, no one can accurately determine the value of everything, so an estate sale company may need to do research to establish accurate values when necessary. So, unless you, the seller, have specific information or knowledge regarding the pricing of a particular item(s), please leave pricing to the professionals.

An experienced estate sale company knows the questions to ask. They are very observant and will cover themselves in every direction. They will also hold you accountable for your agreed-upon obligations. Holding an estate sale is extremely hard work, and it's best not to let anything slip through the cracks. We haven't covered everything related to estate sales, so please let us know if you have any further questions. Please note that we consult with clients (hourly rate applies) regarding their sale.

Advantage: A professional estate sale company will manage the sale process from start to finish. Disadvantage: You cannot remain in the home during the setup or the actual sale. Timing of the sale may also be an issue.

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Selling Online.

Using online sales venues like eBay, Facebook Marketplace, or Craigslist may be viable options for selling some of your belongings. You will need to begin by researching the value of the item(s) to figure out pricing. A place to gauge value might be eBay, using its "Items Sold" feature, or Google Search. (Google Search how to: open Google and in the Search bar, select the camera icon. Google Lens: take a photo. Options will appear for review with pricing.)

• You will need to photograph the item from different angles or viewpoints. Remember, people will usually look at the photos first, then read the copy, so make sure you get good, clean shots.

• Are there features of the product you want to highlight? What about defects or flaws--these should also be photographed.

• Whether you use a cellphone or a digital camera, lighting is very important, and for many items, shooting in natural light is often the best approach. Pay attention to the background behind the product. You don't want visual distractions.

• Write the descriptive copy clearly. Make sure all attributes are listed, including dimensions. The condition should be listed with details regarding any flaws or defects of the item. Your potential buyer must know what they are buying. Cover your bases in the description — it keeps the buyer from coming back to you with complaints and wanting a refund.

• If you'll be shipping the item, pack it securely, especially breakables; you want the package and its contents to arrive safely. Weigh the item or guesstimate the weight so the buyer knows how much they will be paying in shipping. This can get a little tricky as shipping costs with insurance coverage can add up and will depend on where (zip code) the package is shipping to.

• If you're selling locally on Facebook Marketplace or Craigslist, you'll need to decide on the type of payment you'll accept: cash or e-payment. Additionally, for small items, establishing a safe and secure meeting place is crucial. If you're selling large pieces, such as furniture, be sure to have someone with you when the potential buyer visits your home.

Advantage: Online sales can be a quick and often an easy way to sell a wide range of products. Disadvantage: Pre-listing preparation time and accuracy are required; attention to detail is a must, which could be a disadvantage for some. Packing and shipping items can be a hassle.

Auction. Online or in person.

Auctions today differ from those of days past, when the auctioneers and their team would show up at the house and bring most of the contents out to the yard. The auction would begin, and depending on the amount of content, often including the real estate, the sale would be over in a few short hours. Done!

Today, on-site auctions still take place, as do sales at the auction company's physical location. Taking the sale contents from the home can be costly, however. How the selling occurs: the contents are prepped and grouped into selling "lots" or large, standalone pieces. On the day of the auction, and sometimes on multiple days prior, potential buyers have the opportunity to view the items that will be sold at the upcoming sale.

Many auction houses, as well as estate sale companies, hold online auctions. The sale items are photographed and put up on their websites for viewing. Typically, an online auction lasts for several days, during which time bids are placed. When the auction ends, the winning bidders are notified and given instructions regarding payment and pickup.

Whether in person or online, all bidders must register with the auction house/estate sale company before they can bid. Sellers and bidders must inform themselves of the fees involved to avoid surprises.

Here are typical fees that an auction house may charge, so be sure to ask for clarification:

• Seller's Commission: Usually ranges from 5% to 25% of the final sale price.

• Buyer's Premium: Typically adds 10% to 20% on top of the hammer price.

• Reserve Fees: Some auction houses charge a fee if a reserve price is set.

• Listing Fees: A flat fee may be charged for listing items in the auction.

• Marketing Costs: Additional fees for promotional services or cataloging.

• Payment Processing Fees: A small percentage may be deducted for payment processing.

To find the right auction house/service for you, consider consulting with family or friends, searching online, or using EstateSales.net to review the auction companies listed on their site.

Advantages: The seller can realize the sale of their items fairly quickly, depending on the type of auction. Online auctions that last several days are a great way to attract bidders. On-site auctions are charged with excitement, and the atmosphere is usually fun and engaging. Disadvantages: Some items may not bring the amount of money hoped for by the seller. On-site auctions proceed rapidly and can be too fast for the unaccustomed to keep up with the bidding process.

Consignment.

Consigning something to be sold with a company/retail shop means you are agreeing to their services and entrusting the sale of your item(s) to them.

Some consigning scenarios that may apply:

• A consignment shop sells second-hand merchandise, with very little, if anything, new.

• The consignor will determine whether your item(s) will be accepted based on a photo you send for review, along with any details you can provide, such as condition. They will also take into consideration the inventory currently in their store, primarily items of a similar nature. Therefore, if their showroom has an abundance of similar items, they may not accept yours until the existing inventory has been reduced.

• The consignee is responsible for getting their item(s) to the shop. Some consignment shops, however, do offer pickup services for a fee.

• The consignor will likely set the pricing for items, as they are familiar with what similar items have sold for in their store. You can always give your pricing opinion, however.

• Consignment shops will take an item for a specific length of time. An example might be 90 days, during which the consigned item is not sold; the retail cost is reduced every 30 days. At the end of the 90 days, you will be asked to decide to claim your item(s) or allow the consignment company to donate the item(s) to a thrift/charity.

• The consignor uses consigning/selling contracts and charges a flat percentage (usually 50%) of the sale.

Quality consignment shops are becoming increasingly difficult to find. Ask acquaintances for recommendations or conduct an online search. If you find a shop you're interested in, visit the store and speak with the manager.

Advantages: Quality shops sell high-quality items and attract customers seeking this type of merchandise. Allowing the consignor to price items correctly based on previous sales data will usually guarantee a sale. Disadvantages: Having your item(s) refused for sale can be disappointing. If the item doesn't sell, you are obligated to either pick it up or allow the consignment shop to donate it to a charity/donation center.

Buyout.

This buyout business model is designed to purchase unwanted or no longer needed content for the lowest possible cost. Let me say, there is nothing wrong with this, and judging from the situations I've seen and been involved in over the years, it is often the best possible solution for many people and situations.

The seller has the opportunity to liquidate the content quickly and at the best possible price. This type of transaction is usually a win-win if emotions do not come into play.

As with other companies you want to look into, talk with friends and relatives, estate sale companies, as they often use buyout service companies, or search online for suggestions.

Advantage: The contents are purchased for one price, and the buyout company is responsible for pickup of the sold items. Disadvantage: You may feel that you're not getting enough money for your items, or you're being taken advantage of due to your situation.

The 5th and last of the Sorting Categories.

Recycle.

Numerous items in our living environments can be recycled; things we may not even be aware of. Educating ourselves on how to make the best possible decisions around recycling is essential. Every time we decide to recycle, we prevent more unnecessary waste from entering landfills. We are saving our PLANET!

Here in the Kansas City area, my go-to website for recycling is RecycleSpot. It is an information-packed site with all the answers to any recycling question you may have. Take a look, and if you don't have a recycling plan in place, there's no time like the present to implement one.

Trash.

Trash is what we can't recycle. We all have it; trash happens. It's a byproduct of our lives, and no matter how hard we try to keep our trash out of landfills, some things inevitably end up there.

When we downsize our lifestyles, this sorting category can grow significantly to the point that a dumpster may become necessary in the driveway. Junk haulers can also be a good source for disposing of a larger quantity of trash. (I once had a client who refused to order a dumpster because of the perceived stigma attached. I could not convince her that the neighbors would not care and might even come and ask if they could add a few things to it. Nonetheless, no dumpster.)

We accumulate so much stuff over our lifetimes that many people are amazed at the amount of actual trash that exists in their homes—a friendly reminder: Nobody wants our trash, and it can't be donated or sold. So, perhaps it's time to get rid of it.

CONCLUSION

This concludes our 4-part blog series on "The 5 Sorting Categories" used when sorting and paring down. We hope you found the series informative and helpful, and if you, a friend, or family member could benefit from our "Living Smaller & Loving It!" blog posts or services, don't hesitate to get in touch with us through our website at: Contact | Downsizing Simplified

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We hope to see you next week, on November 19th. The blog post topic is TBD, but we're working hard on several downsizing topics and our newest web page: "Stories, Snippets, & Shares", which we're really excited about!

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