With demand for estate liquidation on the rise, more estate liquidators are entering the market. This in turn is creating good levels of competition, with the most trusted and reliable reaping the rewards. As seen in most industries, as demand for services grow, supply of service providers quickly follows suit.
Market data on industry size is limited to non-existent, largely as a result of being an unregulated industry. No organization tracks the number of estate sale transactions on an annual basis. Which means data for total gross proceeds yielded from sales or total commissions paid to estate liquidators also goes untracked. Without secondary sources for key data points, we must rely on primary research, educated assumptions and high-level calculations to estimate the estate liquidators market.
Considering the aging baby boomer generation (born between 1946-1964) is reaching 48 – 66 years of age, they are facing the responsibility of helping their aging parents downsize to smaller homes, relocate to more favorable climates or cope with the inevitable passing away. The baby boomer population is estimated to be about 80 million people. This age group accounts for about 25% of the total US population. The baby boomer parents, over the age of 65, are increasingly needing professional estate liquidation services. As a result, estate sales will continue to gain in popularity.
Providing estate liquidation services to our aging population is one of the fastest growing industries. Charting total number of estate sales over the next decade will most certainly look up and to the right. We would love to hear your thoughts on the industry in the comments below
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