Marketplace Company FAQ
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What's the catch?
No catch. If you are on the Gold, Silver, or Bronze package on EstateSales.NET, you can list items on the Marketplace. This is an exclusive service for estate sale companies on EstateSales.NET. We do not allow private individuals to list; you must be a company.
What’s your cut?
The EstateSales.NET Marketplace service fee is only assessed when an item sells. This fee applies only to the item's final price and does not include tax and shipping costs.
We have a variable fee structure based on your company package:
- Gold: 2%
- Silver: 4%
- Bronze: 6%
To help with the impact of COVID-19, are offering a discounted rate on our new fees that will run until December 31, 2020. This discounted Marketplace fee rate is:
- Gold: 1%
- Silver: 2%
- Bronze: 3%
How is sales tax handled?
Whether or not your company has to collect sales tax is area-specific. When signing up to list on the Marketplace, you will be prompted to enter the states in which you do business and tell us whether to collect sales tax for you or not. See our Sales Tax Resource if you would like to know more about state laws regarding sales tax.
What is Dynamic Pricing?
Many estate sale companies reduce their pricing over the course of their sales in order to sell as many items as possible. To replicate the traditional estate sale experience for online customers, we wanted to give you the ability to do this online. When you list an online estate sale, you can choose to use Dynamic Pricing for all or only a select number of items in your sale. All you have to do is set your discount schedule and the system will automatically reduce the item price on your set schedule. Items added prior to applying Dynamic Pricing to a sale will not be included in the schedule.
It is also important to know that Dynamic Pricing does not affect shipping costs. If you have set your item to include shipping, the discount percentile buyers see could vary from what your Dynamic Pricing schedule shows. For example, if your items price is $100 and $20 of that amount is used for shipping, a 10% discount would be applied to the $80 not used for shipping in the price. This would make the discounted amount $72 plus the $20 for shipping, showing $92 for the item after an 8% discount.
How is this different from other online selling avenues?
We set out to build the first system specific to the needs of estate sale companies and estate sale shoppers. We wanted to capture the spirit of estate sales: the thrill of the hunt for the best items and the fast-paced nature of finding the deal before someone else. The Marketplace is exclusive to estate sale companies on EstateSales.NET and incorporates elements of a traditional estate sale into the online buying process. You can sell your items using an auction format, firm pricing format, or—new to online buying—a dynamic estate sale pricing model where the items are discounted over time.
Do we think this will replace traditional estate sales?
No. The EstateSales.NET Marketplace is not a replacement for traditional estate sales. Instead, it is a way for you to expand your market and reach buyers across the lower 48 United States. It is your job to get the most money for your clients, and we want to help you do that by giving you the best tools possible. You now have a new tool!
Why is the Marketplace needed?
Companies have expressed several issues they have encountered when running an estate sale. First, it’s not uncommon for things like HOA restrictions, safety restrictions, and parking issues to make it difficult or impossible to hold estate sales on-site. Secondly, some markets simply don’t command the best prices for certain items. We hope to solve these problems with the Marketplace. You can now sell your items to an audience of 3 million estate sale enthusiasts.
When can I start listing items?
After you set up a free Stripe account, you can start listing right away! Log in to your account to start listing.
How long are the items listed?
Items can be listed on the site for up to seven days. Should you need to relist an item that doesn’t sell initially, you can do so at the click of a button at no extra charge.
Do I have to set up a Stripe account to sell items online?
Yes, you will need to set up a Stripe account before you can begin selling on the Marketplace.
Can I trust Stripe?
Yes. Chances are, you’ve already used Stripe without knowing it. Many large companies use Stripe to process their payments, like Uber, Target, Facebook, Pinterest, Under Armour, and Shopify. Click here to learn about Stripe.
Can I set a minimum price / bid?
Yes, you can set a reserve price for each item you have in the auction format. The reserve is the minimum price you will accept for your item. If the item does not meet the reserve, your item will not sell.
How does the transaction process work?
EstateSales.NET has integrated Stripe into the Marketplace. You will be able to easily set up Stripe from within your EstateSales.NET account. Once your Stripe account is set up, the money you receive for items sold will be deposited directly into your account through Stripe. EstateSales.NET never directly touches your money. Stripe works similar to other credit card processors. Their transaction fee is 2.9% plus $.30 per successful transaction.
How much does it cost to set up my Stripe account?
Nothing! Setting up your Stripe account is free. There are fees associated with each transaction, though, like other payment processors. Stripe’s transaction fee is 2.9% plus $.30 per successful transaction.
When do I get my money?
After you have printed your shipping label, or after the customer has picked up the item, it generally takes two business days for Stripe to process the transaction and deposit money into your bank account.
I just got an offer offline that’s too good to pass up. Can I stop a sale after it starts?
In an auction format, you can cancel an item as long as the item has no winning bids. If selling an item with a flat price, you can cancel the item at any time prior to it being purchased.
Do I need an auctioneer’s license to put items through the bidding process?
This depends on your state. Some states require an auctioneer’s license, and others do not. You can always use the estate sale pricing format or firm price format if you do not have an auctioneer’s license.
Where will my items be listed on EstateSales.NET?
Your items will be listed on the new EstateSales.NET Marketplace. This is a dedicated part of EstateSales.NET for direct online estate sale shopping. If you have listed 20 or more items in your sale, the sale will then be shown on the city sale page for your sale area in addition to the Marketplace. When a user clicks on the sale from the city page, they will see your items. Your items will also show within the site’s search results.
What is the difference between an online estate sale and online auction?
Online estate sales are sales that use fixed pricing or Dynamic Pricing on all items. An online auction is a sale that uses auction pricing on all items.
How many items must I list in order for my sale to show up on the city page?
Every item you list must go under a sale, but the sale will not show on the city page until you have uploaded 20 items to that specific sale. All items, regardless of whether the sale they are listed in has 20 items or not, will be listed on the Marketplace page.
Do I have to upload 20 items to list on the Marketplace?
No. You do not have to upload 20 items to list on the Marketplace. You only have to upload 20 items to a sale in order for it to show on the city sale page.
Can a traditional estate sale listing include items that are listed in the Marketplace?
No. Items listed on the Marketplace will need to be separate from your traditional sale listing. There is not a hybrid listing that combines both online items and in-person traditional estate sale items.
Do I have to ship items to use the Marketplace?
No, you can strictly offer “Local Pickup Only,” if you would prefer not to ship.
How does shipping work?
Shipping is integrated into your account allowing you to conduct all of your shipping needs from multiple carriers all from one spot. We use Shippo which makes shipping with USPS, UPS, and FEDEX easy. See our article all about Shippo for more information.
What is Shippo?
We have integrated the EstateSales.NET Marketplace with Shippo, a multi-carrier shipping service platform. When you create your Shippo account, you will have access to discounted shipping rates through the United States Postal Service. You can also add your FedEx and UPS accounts to Shippo. When shipping an item, you can choose which carrier you would like to use. You will see shipping rates directly within your account.
Can I offer local pickup?
Yes, you can choose to ship the items you sell and/or offer local pickup.
How do I verify the person picking up the item?
When an item is sold to a buyer and they choose local pickup, we give the buyer a unique pick-up code that you can use to verify that they have purchased the item when they arrive at your scheduled pickup time. You will enter the code into EstateSales.NET and the transaction will be complete.
You can also choose alternate forms of verification by either checking the last 4 digits of the credit card used to purchase the item, or you can accept responsibility for validating the identity of the buyer.
Can I choose a time frame when a buyer can pick up an item?
Yes, you’ll have a seven-day window in which you can choose a time frame that works best for you. This pickup time is shown to the buyer as part of your item listing.
What does “shipping included” mean?
We feel pricing should be simple for both buyers and sellers, and that it should not be overcomplicated. By building the shipping fees into the base price, buyers know exactly how much they’re spending when they make their purchases.
How does pricing work with included shipping?
If you choose to offer shipping, you will be prompted to enter a shipping cost estimate when you list an item. The combined shipping and selling price will make up the total price shown to the buyer.
For example, if you estimate shipping at $5 and you want the price of the item to be $20, you should put $25 in the buy now box.