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Every Member of the Estate Liquidators Network who conducts estate, moving or liquidation sales agrees to abide by the following Standards of Practice:

MISSION

To promote, increase, build trustworthiness and enhance the professionalism of the estate liquidators within our network.

VISION

This Standards of Practice of the Estate Liquidators Network  shall serve as a guide to the members of the Estate Liquidators Network in the performance of their professional responsibilities and duties.

RESPONSIBILITIES

Members shall conduct business and engage in activities that will be in the best interests of the client at all times.

When entering into an agreement with a client, members must not withhold information regarding fees, minimums, advertising, general responsibilities and company procedures pertaining to the services being provided.

Members must not mislead or build unreasonable expectations about the outcome of an estate, moving or liquidation sale in the mind of a potential client in order to secure the client's business.

Members must, in conducting an estate or moving sale, work with customers and clients in a manner demonstrating the highest standards of professionalism, trust and respect. Members owe both the customer and client the duties of honesty, integrity and fair business practices at all times.

Members shall not make false claims as to credentials, experience or appraisal expertise.

Members shall provide clients in writing or in clear oral agreement, with a full understanding of all the terms and conditions of the estate or moving sale. Prior to the estate or moving sale, clients should be provided a copy of the contract to be signed. Members should discuss all aspects of the services to be provided and include them in written form where appropriate including: duties and obligations of the parties; services provided by the member; insurance coverage, and the handling of the estate sale proceeds.  Additionally, members should keep a written accounting of the items sold and should present the client in a timely manner, if requested.

Members should provide and offer the highest level of competent service in those fields in which members are typically involved. This competency may be attained by training, current market pricing study, practice, formal classroom training and experience. Competency also includes recognizing ones limitations and knows when to seek the guidance or assistance needed for the appropriate circumstances.  Additionally, members who are asked to travel outside of their experienced geographic area may find that networking with a member with a better understanding of the geographic market condition requested may be a more suitable response to ensure a competently conducted estate or moving sale.

Members shall not remove client’s property for the purpose of research or resale without the client’s knowledge and permission.

Members shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction would be appropriately served. This includes the practice of real estate and conducting an auction when unlicensed in a license required state.

Members shall keep estate sale proceeds coming into their possession in trust for client’s items separate from their own and shall submit these funds to the client after the event in a timely manner.

Members must maintain liability insurance and/or bonding at all times.

Code violations may be reported directly to ELN for review.

Standards of Practice