"Turning Lifelong Treasures Into New Opportunities": How Estate Sales Transform Downsizing Challenges

Discover why downsizing through professional estate sales can save you stress, increase returns, and prevent family conflicts.

When Sharon McKenzie-Venning first moved to Ocean County, she needed to furnish her new home on a tight budget. Reluctantly, she visited her first estate sale—and discovered a world that would completely change her career path. "I was a little bougie," she laughs. "I thought, 'I'm not buying anything secondhand!' But after that first sale, I was hooked."

Today, as owner of Mackenzie Estate Sales and Auctions at Real Estate Service, Sharon helps families navigate major life transitions by selling their belongings with dignity and maximizing their returns.

What Exactly Is an Estate Sale?

An estate sale is fundamentally different from a garage sale or yard sale. "An estate sale is a large, organized sale of all your personal belongings due to a major life event," explains Sharon. These life events typically include:

• Downsizing to a smaller home when your forever home becomes too large

• Moving to assisted living when you need to dramatically reduce possessions

• Divorce when assets need to be divided

• Death when families need to handle a loved one's belongings

Unlike garage sales, which Sharon describes as "bargain basement" events, estate sales include "luxury pieces, premium pieces, and economy pieces" - from jewelry and furniture to vehicles and collectibles.

The Psychology Behind Estate Sales

What makes estate sales fascinating is the psychological element. "The whole point of coming to an estate sale is the experience," Sharon reveals. "They want to see what Sarah's house looked like. They want to go into Sarah's closet."

This appeal creates a dedicated following. "People know me by name. They know my husband, my children, my parents," she notes. "It's definitely a form of social interaction."

The Estate Sale Process

When Sharon receives a call, she begins with a free evaluation. Once contracted, her team transforms the home into a showroom, carefully arranging and pricing items.

"We set up the house almost like a staged showroom," Sharon describes. The process moves quickly: one day for setup, followed by a two or three-day sale event.

Pricing is critical, especially for valuable items. "Everything is researched," Sharon emphasizes. While some haggling is expected, certain items like luxury brands maintain their value.

For specialized collections, Sharon collaborates with experts. "I had a sale with over 400 antique clocks in one house," she recalls. "I called in a professional to price everything."

Hidden Treasures and Unexpected Findings

One fascinating aspect is discovering hidden valuables. "People hide things in the darnedest places," Sharon shares. Her team has found money in freezers, books, and secret compartments—once discovering $5,000 under a mattress. They've also found valuable items like Rolex watches.

Estate Planning Considerations

Estate sales often intersect with legal matters. Sharon requires clear documentation before proceeding with a sale. "Just because someone has keys doesn't mean they have the authority," she cautions.

When estates are in probate, the process becomes more complex. "Everything has to be inventoried, priced, and appraised. You have to submit everything to the lawyer."

Unfortunately, many people avoid these conversations. "At senior community events, they literally recoil when they see I'm from an estate sale company."

Preparing for Your Future

Sharon advocates a minimalist approach to possessions. "Before I buy something, I look at it and ask: 'Am I really going to use this? How often?'"

She recommends taking inventory of your belongings and documenting their worth. "Start to really think about the higher-priced pieces you have and make an inventory," she advises.

For sentimental items, Sharon suggests: "Take a picture of that chair so you don't have to lug it through the five moves you're going to have in your life."

Why Estate Sales Matter

As baby boomers downsize and younger generations embrace minimalism, estate sales provide a sustainable solution for transferring possessions. Rather than discarding items in landfills, estate sales give possessions new life.

Sharon's business model—combining estate sales, real estate services, and cleanouts—offers a comprehensive solution for major life transitions.

"When I get that call from the daughter who lives out of state saying, 'My mom passed away and I live in California. Can you help me?' I can do everything from soup to nuts."

Taking the First Step

Whether you're planning ahead or helping a family member, starting the conversation about estate sales can save tremendous stress later. Begin by inventorying valuable possessions, researching their current market value, and documenting your wishes.

Remember that estate sales aren't just about endings—they're about helping possessions find new homes where they'll be valued and used.

Sharon Mckenzie-Venning owns Mckenzie Estate Sales & Auctions. She is a licensed real estate broker and co-host of the Local Neighborhood Experts podcast.

Ken Connolly is a licensed life and health insurance broker and host of the "Talking Retirement" podcast.

To learn more about Medicare, life insurance options and other supplemental health insurance options, talk to NJ Life and Health. Visit us www.njlifeandhealth.com or call their Toms River, NJ office at 848-226-6897.