August 11, 2020

Estate Sales Companies: Increasing Audience plus Profitability

Individuals buy and sell property and possessions for several reasons. There are more than ten 1000 estate/garage sale companies in the US, plus an even greater number of consumers who are interested in buying people’s goods. With eBay, Craigslist, various local and specialized auctions, estate/garage sales, and consignment and antique shops, it’s not a good exaggeration to say that millions of Us citizens are consumers at a vast market place or have interest in selling there.

In this article, I will touch on only a part of this marketplace, namely, estate and garage sales. I will suggest particular ways for estate and garage sale companies – both huge and small – to increase their overall revenue while also producing 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 plus support. These websites only display you can actually own goods, and this decreases the particular audience of their prospective buyers. Here’s more info about Estate Sale Companies San Antonio look into the web site.
These companies would do well to list their goods in larger virtual malls, which attract a wider target audience at a much lower cost.

The idea of a private “virtual booth” in a larger on the web mall is not new; it’s employed by some big online players, like Amazon. With a platform that houses many “virtual booths, ” the price to each “booth owner” of building a quality buyers’ experience is significantly lower than setting up a private shop using a separate company. While such digital malls can provide online auctions for every player, the actual estate sales and face-to face meetings (where the goods alter 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 enterprises, and many have no websites of their own. A number of them are proud to be hands-on individuals and practice the traditional walk-in technique only. These companies would do well to include an online component to their business : preferably in a platform that combines the benefits of online auctions with the traditional type of estate/garage sales.

Thus, combining the particular 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, while still allowing new buyers in order to firmly rely on the “What You observe Is What You Get” promise; in contrast, buyers at online auctions with no conventional component frequently cry: “What You See Is NOT ALWAYS What You Get. ”

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 details to buyers with listings that include detailed descriptions of the seller’s goods. In addition to traditional photos, each product description should contain the estate/garage sale code – the “booth name” – to help prospective buyers locate desired listings, as well as the sale area. All this information should be open to most users without registration;

Provide customers the option to bid on listed items both before and after the date of a real estate sale. A time span of 2-4 weeks gives sale organizers 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 item’s start price; this improves sale flexibility;

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

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

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

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

This post may be reprinted or used freely, but only in its entirety, including the author’s name and the bio box content.

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