HOW WE WORK
An estate sale’s main objective is the orderly liquidation of personal property in a relatively short period of time for the highest proceeds possible.
No death need have occurred. (On the contrary, about sixty percent of all our sales are downsizing sales of one kind or another. We often work for those who are moving, couples who are divorcing, business owners who are liquidating, etc.)
We strive to minimize our clients’ stress throughout the entire process.
We’re experts in managing estate liquidations, and offer efficient, professional services without forgetting the needs of our clients.
The concept is pretty straightforward, yet (for some) the process can be laden with significant emotional trauma, difficult logistical challenges, and crucial deadlines. Closing a home or business can be exhausting — and even traumatic — for the layman.
The process begins with a complimentary consultation in which we come and view the property in question. At this time, we also discuss any special needs you may have. (We recognize that each situation is unique.)
Our commission, something usually set in the initial consultation, is based upon what we estimate the gross sales will be and how much work must be done in order for your sale to be successful. (N.b.: We may quote lower commissions on particular items — e.g., motorcycles, higher end automobiles, recreational vehicles, boats, and farm implements.)
We cannot quote a “one size fits all” commission here, as each estate merits a different commission based upon its estimated gross, the labor required (we pay for all labor), advertising costs (we pay these), and so forth.
We tend to book our sales several months in advance, and require that all firm and final decisions about what will and will not be sold be made prior to any contract being signed.
We also require that the venue in which we are to work be thoroughly vacated prior to our starting work. (We do not work with anyone living in the venue we’re to conduct the sale in. This is the gold standard in our profession, and is non-negotiable.)
FAQs
A: First, it’s an incredibly difficult task for non-professionals to get things together, let alone run a sale as it should be run. Not only is the work itself grueling, but you also have to factor in sentimentality, time, difficult family dynamics etc.
As one would expect, most laymen (and this includes attorneys, CPA’s, trustees, etc.) have absolutely no idea what items are worth in the secondary market. Laymen attempting to conduct their own sales, we have found, either vastly over-price else ridiculously under-price the vast majority of their household possessions.
We, on the other hand, come into your home or place of business and price merchandise for sale at a fair market value. We market the items via this website, newspaper ads, word of mouth and social media accounts that together reach well more than 22,000 followers.
We display everything in a way that will net you the most money possible.
Remember, too, that there’s greater perceived value when a professional estate liquidation firm conducts an estate sale.
Customers who come through a sale conducted by McNeil Liquidations see carefully considered staging with traffic patterns in mind, lighted showcases filled with high end merchandise, professional signage and tags alike, smartly draped tables, helpful staff members in matching smocks, and an on-site, and a uniformed police officer at the door.
Finally, bear in mind that, if your home is for sale, estate sales can bring as many as two thousand to ten thousand people through your home over any given weekend. (The exposure granted by our estate sales has helped sell many a property for local realtors this way over the years.) Ask yourself this question: ”Why should I pass up free marketing?”
A: Without a doubt! We travel all over the state as needed. To date, we’ve conducted sales in Ardmore, Tulsa, Woodward, Choctaw, Harrah, Nichols Hills, McAlester, Midwest City, Jones, Shawnee, Forest Park, The Village, Stillwater, Enid, Moore, Okmulgee, Geary, El Reno, Yukon, Norman, Edmond, and Chickasha. (We’ve looked at sales as far afield as northern Louisiana, western Arkansas, and north Texas, and we’d gladly travel even farther for the right sale.)
Please be advised, though, that our threshold for out of town sales is considerably higher than the one we require in the Oklahoma City metro area. (Out of town sales require considerably large advertising budgets, travel expenses, and more. In other words, we likely cannot help you with sales outside the metro area that we estimate will gross less than $50K.)
In other cases, we’ll be happy to talk to you about moving sales from out of town venues to Oklahoma City or Edmond. (This is also true of posh, gated communities in the OKC metro — communities whose covenants forbid residential sales of all kinds.)
All that said, even when we can’t help you with out of the metro area sales, we won’t “leave you hanging.”
We’ll work with you to find someone who CAN help you. (In this regard, our extensive contacts through ISA, AAA and ASA often prove invaluable, and we have extensive contacts in northwest Oklahoma, eastern Oklahoma, southern Oklahoma, and even north Texas.)
A: Estate sales (also known as “tag sales” in some parts of the United States and Canada) are orderly liquidations run much as a retail shop would be run. That is to say, every item has a price tag. (In other words, the liquidator determines the price. In an auction setting, though, the bidders determine the price.)
Estate sales are vastly different from auctions in that customers need not wait hours for one item or another to “come up on the block.” Also, with an estate sale, the estate itself is not at the mercy of an often uncomfortable customer base that dwindles down as the day goes by.
As in an auction, though, sealed bids may be placed on appreciable items at our sales. This is one definite similarity. (For the record, bids are “called” at the close of the first day of the sale.) Sealed bids are considered binding contracts, and must be honored.
Our sales are scrupulously cleaned, beautifully staged, professionally organized, and extensively advertised.
The public is invited into the home and allowed to shop at leisure. Clerks are available to write customers’ tickets and answer their questions. Cashiers are stationed (usually near the entrance/exit) to “cash out” customers. A police officer is usually stationed near the primary entrance/exit to maintain general order, check tickets, and watch traffic. He or she also keeps an eye on the cash register, the showcases, vehicles for sale, etc.
A: You’d be amazed at just how well even an average estate can and does sell when offered to the public in one of our orderly liquidation sales.
We liquidate entire estates that aren’t filled to overflowing with 18th century furniture, period silver, rare automobiles, fine jewelry and the like. Ultimately, it’s the estimated sales gross that determines whether or not we take the sale or refer it to a smaller company.
We sell furniture of all types, clothing, general residential contents, portable buildings, cars, stereo equipment, tools, firearms, motorcycles, farm equipment, musical instruments . . . well, actually, a little bit of everything!
Call or e-mail us to schedule a complimentary consultation in which we can advise you how to best liquidate your estate.
A: First, get all your legal “ducks in a row.” If there has been a death in the family, make sure that you have legal title and full authority to sell. Make certain, too, that all disbursements have been made to any and all heirs before you call us for a consultation. If there’s a divorce or bankruptcy liquidation afoot, make sure that you talk to legal counsel before calling us. (Remember, by the way, that any liens or other encumbrances are solely your responsibility.)
Second, please step away from the dumpster and the thrift shop box — PLEASE. (You’d be horrified to learn what some former clients have, in their zeal, thrown or given away before speaking to us!)
Third, show us any and all items you do not want us to sell before we sign a contract, as a) we base our commissions upon what we estimate the gross sales to be and b) items taken after the signing of the contract are subject to full commission.
Fourth, please remember that professional estate liquidators generally won’t work with clients who are still living in the home. (It’s simply too taxing for both parties, and requires us to be in your living space while you’re in our working space. If you’re still living in the venue and unable or unwilling to afford a hotel for a couple of weeks, then it’s likely that we won’t be a good fit for one another.)
If you still reside in the sale venue itself, you’ll need to remove all of your personal items to storage and then vacate the premises for a minimum of two weeks. (Talk to us about the specific amount of time needed to prepare your sale.)
A: Our initial consultations are always free of charge. Should we determine that an estate sale is not your best option, we’ll be glad to provide you with a set of plausible alternatives during this complimentary consultation. Please remember, though, that we usually book our sales anywhere from two to six months in advance. (We don’t simply wait by the phone and twiddle our thumbs.)
A: Actually, yes, but only a few.
If you are the representative of an estate, we will need to have a photocopy of the necessary legal documents which authorize you to dispose of the contents.
We also require that the homeowner’s insurance on the home itself be current and in place throughout the sale process.
The estate itself is responsible for disconnecting from gas or water any appliances which are to be sold.
The furnace and air conditioner must be in working order before we begin work, and the water, gas and electricity must be turned on and kept on throughout the sale process. (No need for a phone line, though, as we run credit card sales through a cellular phone app.)
A: Some real estate agents may disagree with us on this issue, but we answer this question with a resounding “No!”
You see, selling a home and then contracting with an estate liquidator can — and most often does — paint the liquidator into a corner, so to speak.
We want to do your sale justice, and we need adequate time in which to do this. Please try to coordinate the sale of your real estate with the sale of your household possessions, as (again) an estate sale can bring thousands of potential buyers into your home. (By the way, we gladly work with realtors to co-market the properties themselves.)
A: Absolutely. We often work for out of state heirs, executors/executrixes, trustees etc. All necessary arrangements can, if necessary, be handled via telephone calls, faxes and e-mails.
A: We usually book our sales anywhere from two to six months in advance. (Remember: we only have about forty-eight “working” weekends out of fifty-two or so in any given calendar year, and so must schedule our sales with that in mind.)
Once we begin the work itself, the average estate requires two to three weeks’ worth of prep time. Occasionally, we may coordinate a sale in less time. Rarely, a sale may require more time or less time.
A: Each sale is unique; however, suffice it to say that approximately 95% of our sales are two-day sales. From time to time (perhaps once a year), we may encounter a small sale that only merits one long day, or (even more rarely) an extremely full sale that merits three days. For all intents and purposes, though, you can probably count on a two-day sale.
We do not like to conduct sales on Fridays, as we believe that Friday sales simply don’t do our clients justice. We only conduct sales on Fridays when a) specifically requested by a client, b) a Saturday/Sunday sale would conflict with a major holiday or sporting event, or c) the municipality in which we’re working doesn’t allow Sunday sales. (This is the case, for example, in Nichols Hills.)
A: It’s a given that weather here in the South Central States can (and often does) turn on a dime. Should there be very severe weather on sale day, we would re-schedule your sale accordingly. Most municipalities have fairly generous policies concerning permit furtherances.
A: Absolutely! We find that cars, trucks, vans and motorcycles all draw large numbers of new and different customers. (By the way, as a general rule, we charge a considerably reduced commission on most automobiles and motorcycles.) We also sell farm implements of all kinds, including tractors and tractor attachments, as well as combines, working chutes, feeders, and other large farm items.
A: With the exception of immediate family members conducting sale(s) within six months of an immediate family member’s demise, the charging of state sales sax IS required on all purchases at both estate and garage sales in Oklahoma — don’t let anyone tell you otherwise.
And yes, we fully comply with Oklahoma state law in the collection and remission of all sales taxes.
We’re responsible for the collecting and remission of all applicable sales taxes, and we write a paper (two-part, carbonless) receipt for each purchase made. (We strongly caution our clients against working with any purported liquidator who doesn’t write a paper receipt for each and every purchase made. Our sale receipts are available for audit/review by the Internal Revenue Service, the Oklahoma Tax Commission, and our clients for seven fiscal years after the close of each sale.)
All sales taxes collected are remitted under our tax/site number to the Oklahoma Tax Commission via the OKTap website in a prompt and orderly fashion once a month.
All sales tax exemption permits are collected at the cash register, stapled to their respective tickets, and kept by McNeil Liquidations, Inc. for seven fiscal years after the close of each sale.
A: We strive to pick up large debris and leave the home “broom clean.”
Bear in mind that ours is a professional estate liquidation firm, though, not a housekeeping service.
If you’d like the home to be immaculate and ready to put on the market, we’ll be happy to refer you to a professional housekeeper whom we recommend.
Ready to get started?
If you are looking for professional estate liquidators with integrity, give us a call.