5 STEPS TO SELL IN A CROWDED MARKET
When Emma Parsons-Reid took on the task of selling her parents’ house, she was confident it would make someone a great family home. But she was also aware the market was “saturated” with similar properties and the five-bedroom detached house was in a shabby state. Ms Parsons-Reid didn’t want to throw tons of money at the problem, but she did want to show off the property to its best advantage. So she, her husband, her sister and her partner spent several months sprucing the place up before any prospective buyers came through the door.
Fixing leaks, replacing blown plaster, tidying up paintwork, ruthlessly decluttering, and making sure the garden looked smart may sound like a simple strategy – but it worked.
The house went on the market in January and is now under offer and progressing towards exchange of contracts. “The market is saturated,” said Ms Parsons-Reid, 59. “The house across the road is for sale, everywhere you go there are houses for sale. But we made ours look really good, and I think that is why it has sold.”
Finding a way to make your property stand out from the crowd has never been more important. According to property market analyst TwentyCi, 794,000 homes were listed for sale in the first five months of this year, bringing the total number of properties listed to a 10-year high.
‘We put in about £200, and a lot of physical labour’
Rather than just list the house and see what happened, the family worked together to clear a lifetime of accumulated possessions, a task which involved removing two skip loads of rubbish. Although the property had good bones, it had been somewhat neglected.
The house was cleaned from top to bottom, including the windows, and Ms Parsons-Reid and her sister tended the garden throughout the sales process. “We probably only put about £200 into it, and a lot of physical labour, but it looked fabulous,” she said.
Ms Parsons-Reid was initially advised to list the house for £550,000, but felt it was not quite enough. She went with another agent who put it on the market for £650,000. This turned out to be a little too much but, after a cut in asking price to £599,999, they found a buyer.
“I was not in a rush and I held my nerve,” said Ms Parsons-Reid. “I’m sure that if we’d just left the house [in its previous state], it would still be for sale.”
Cleaning up and decluttering are easy ways to prepare a house for sale, but experts say owners wishing to secure a fast sale at a good price can do far more to help themselves – without spending a fortune. Here are five steps:
The single most important thing you can do is avoid overpricing. Experts agree that in a buyers’ market, an over-ambitious asking price is a massive turn-off.
“First and foremost, purchasers are looking at pricing and if it’s even a little punchy they will just walk past or scroll on to the next,” said Charles Curran, managing director of Maskells estate agents.
Sellers’ biggest mistake is to set their hearts on a particular price, which often bears little relation to the reality of the market, according to Martin Bikhit, chief executive of UK Forbes Global Properties.
“The biggest mistake sellers make is anchoring to what they want, or what a neighbour achieved two years ago, rather than what today’s buyers are prepared to pay,” he said.
“A useful test is this: if your property launched today and a serious buyer viewed it alongside five alternatives, would it represent compelling value and justify its asking price?” said Mr Bikhit. “If not, it is probably overpriced.”
Saying that, a decisive price cut can help shift a flat. Camilla Dell, a buying agent and managing partner of Black Brick, has recently been advising clients who have struggled to sell a Victorian terrace in West Hampstead, north London.
On her advice, they cut their price from £2m to just under £1.7m. “This strategy worked and they ended up receiving three competing bids,” she said.
As building costs have escalated since the pandemic, buyers have become less enthusiastic about buying places that require work. If you have a fixer upper to sell, think carefully – and get professional advice – about how much the work will cost to carry out yourself and how much you will recoup if you sell.
A home that is simply a bit careworn is cheap and easy to fix, especially if – like Ms Parsons-Reid and family – you are prepared to put the effort in.
“With so much choice, and with new-build show homes and social media setting the benchmark for what home looks like, presentation has never mattered more. Particularly for first-time buyers, where the decision is an emotional one, walking in and being able to picture yourself there is what sells a property.”
At the top end, some owners invest in a home stager to really make their property look Instagram-ready. If that is too expensive, Mr Webb said you could try out one of the many AI-powered apps – such as Virtual Staging AI or Stager AI – to create inspiring images showing how good the property could look.
For a whole variety of reasons, flats are a really hard sell right now.
Buyers often want more space, inside and out, than an apartment can provide, while high transaction costs mean many are skipping the whole starter-flat rung of the property ladder and moving straight to a house.
A lack of demand for one-level living means house prices are growing faster than flat prices – the gap between the two is the widest in 30 years as a result.
According to Zoopla, house prices in the UK have increased 43pc since 2016, while flats are only up 10pc.
“Reducing the asking price doesn’t solve the problem, as those with a lower budget will still struggle to pay the service charge,” said Mr Webb.
“What we’re seeing work well is sellers leaving behind a retention to cover three years of service charges. It keeps the headline price intact, and buyers respond well because it’s tangible money in their pocket rather than an abstract discount off the mortgage.”
The buying process is painfully slow at the best of times, and all that waiting time gives buyers plenty of time to get cold feet. According to TwentyCi, almost 24pc of agreed sales fall through before completion.
“The best thing sellers can do is be prepared,” said Guy Meacock, director of buying agency Prime Purchase. “If you are selling a leasehold flat, get in touch with the management company – have three years of service charges and accounts lined up.
“Consider having your own survey done. Yes, it will cost money, but it needn’t be much and if any warning lights flash up, you can deal with them. Far too often a survey identifies something which could have been sorted by the seller, it’s extraordinary that sellers of high-value homes think buyers won’t have a survey or will ignore potentially deal-threatening issues that come up.”
If you do find an interested buyer, it will pay to be charming and generous – don’t expect to play hardball in the current market.
Last year, a client hired Katherine Watters, a partner at The Buying Solution, to help them find a family house in the Home Counties.
Ms Watters duly took them to view a farmhouse in Sussex. Their daughters quickly fell in love with the owners’ ponies which, by coincidence, their own children had outgrown. Since the owners were moving abroad, they couldn’t bring the ponies with them and therefore offered to leave them behind for the children to enjoy. They even threw in their horsebox.
The buyers were thrilled and the £4m sale went through.
“While this is a unicorn example, being flexible when it comes to incentives and considering what might make the process smoother can be the difference between a healthy sale and something that falls flat,” said Ms Watters.
“The market is such that ‘good will’ goes a long way.”


