Estate Sales Companies: Increasing Audience and Profitability

     Individuals buy and sell property and possessions for several reasons. There are more than ten thousand estate/garage sale companies in the US, and an even greater number of consumers who are thinking about buying people's goods. With eBay, Craigslist, various local and specific auctions, estate/garage sales, and consignment and antique shops, it's not an exaggeration to say that millions of Americans are consumers at a vast industry or have interest in selling there.

In this post, I will touch on only a portion of this marketplace, namely, estate and garage sales. I will suggest certain ways for estate and garage area sale companies - both huge and small - to increase their particular overall revenue while also making sales engaging and useful to their customers.

Large Estate Sale Businesses:

Large estate sale companies curently have their own websites with online public sale capabilities, which are quite expensive to create and support. These websites only display you can actually own goods, and this decreases the particular audience of their prospective buyers. These companies would do well to list their particular goods in larger virtual malls, which attract a wider target audience at a much lower cost.

The idea of a personal "virtual booth" in a larger online mall is not new; it's utilized by some big online players, like Amazon. With a platform that homes many "virtual booths, " the price to each "booth owner" of creating a quality buyers' experience is significantly lower than setting up a private shop having a separate company. While such virtual malls can provide online auctions for every participator, the actual estate sales and face-to face meetings (where the goods modify hands) should retain their traditional mode, and should remain an integral part of the business enterprise model.

Small Estate Sale Companies:

The majority of estate/garage sales companies are small businesses, and many have no websites of their own. A number of them are proud to be hands-on people and practice the traditional walk-in technique only. These companies would do well to add an online component to their business - preferably in a platform that combines the benefits of online auctions with the traditional model of estate/garage sales.
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Thus, combining the features of online auctions with the face-to-face and local nature of traditional estate/garage sales may benefit all estate/garage sale companies, both large and small. Sales organizers will substantially expand their traditional audience, whilst still allowing new buyers in order to firmly rely on the "What The thing is Is What You Get" promise; in comparison, buyers at online auctions with no conventional component frequently cry: "What You observe Is NOT ALWAYS What You Get. inch

A practical tool based on the concept of a virtual local mall may have some additional important features plus benefits:

It does not change the traditional business model of estate/garage sales or sales. It just adds new technology advantages to the old process;

Provide more information to buyers with listings including detailed descriptions of the seller's goods. In addition to traditional photos, each item description should contain the estate/garage purchase code - the "booth name" - to help prospective buyers easily find desired listings, as well as the sale location. All this information should be open to almost all users without registration;

Provide purchasers the option to bid on listed items both before and after the date of the real estate sale. A time span of 2-4 weeks gives sale coordinators more time to prepare for successful product sales. Sale organizers should be able to collect bids 24/7, and buyers should have a chance to bid higher or lower than the particular item's start price; this boosts sale flexibility;

Allow sales planners to choose a winner/buyer at any instant during the bidding stage. An ideal platform should create an opportunity for sale coordinators to receive periodic notifications about bidding activity and let them monitor on the internet bids in real time;

Keep the principle associated with direct negotiations between the sale planners and the winners/buyers selected by the planners. Face-to-face meetings are important so that customers can see and touch (if necessary) the real goods when they change fingers;

Save time for sales organizers by making changes to listings (including buyers' questions and sale organizers' answers) public instantly. This allows potential buyers to see all pertinent plus current information, eliminating the burden of repeating the same information to every prospective buyer;

Allow prospective buyers to select a search radius that takes into account the distance of the estate sale(s) from a specified zip code.
A universal virtual local mall with the features and benefits listed above may be a very helpful tool for both businesses and individual customers - a sort of Swiss Army Knife approach: one low-cost platform that does it all. Such a tool has the power to save time, get rid of drudgery, and increase profits.

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