In a market where the majority of properties receive at least one reduction and completions that are 10% under asking price are the norm, it takes grit, great advice and a degree of bravery to buck the property trend.

For the right home in the right location these are crucial qualities an agent must deploy, and it’s the attitude we took when first invited to view a stunning house in Chelsea’s Glebe Place.

Invited to meet the owners, alongside my wife – a fellow specialist in the prime London market – we were able to talk family-to-family and really look each other in the eye to realise this was going to be the perfect fit.

Maskells was appointed to handle the sale due to the personal nature of the service we could offer, as well as our direct assurance that we would be with the owners every step of the way and deliver the best outcome possible.

We sought to move the dial and take control.”

In a market where template strategies are garnering limited results, we put in place a dynamic and well-structured plan that would create a seller’s market surrounding the property. We sought to move the dial and take control.

We felt this sale needed a different approach, and that would require bravery from all parties.

We’ve been operating in the Kensington & Chelsea and wider Prime Central London (PCL) market for 60 years, and understood that this was a truly unique house and, therefore, impossible to value – taking into account the fact it had never been on the open market.

Rather than price high, we priced low.”

So, rather than price high, we priced low. This takes bravery but we advised the owners that this is what we would do if acting for our own family as it was our best chance of success.

We agreed on an asking price of £4,500,000 which was well below our expectations, but we knew once a buyer was locked in their heart would rule their head due to the house’s exceptional qualities.

We advised on a bracket of value that was triangulated by clear comparable value. But explained to the owner that due to its status as a trophy house it could (and should) sell for more.

But the best way to achieve this is through competition and exploiting “loss aversion” and “validation” as psychological principles that are essential in extracting the most from the market.

We entered an initial off-market phase targeting the best suited buyers – most of whom had a buying agent. A house of this sophistication will be attractive to the most sophisticated buyers, almost all of whom will be professionally represented.

70 viewings

We carried out nearly 70 viewings across a four-week period, with seven buyers entering a bidding process, which led to the home eventually being secured for in excess of 20% over the asking price, and contracts were exchanged in four working days.

Across 2025 to date, Maskells combined sale prices are within 0.35% of combined asking prices, with over half of the sales completed receiving offers from more than one party at the point of acceptance.

In June, July and August this year we sold more property than we did in 2024, which was in itself a record year for our firm.

Subdued market

This is a market where activity is subdued across the board, however, buyers are out there and ready to move when the right home, in the right location, at the right price point becomes available.

We need to be bold, we need to be brave, and we need to be motivated.”

To activate the market, we need to be bold, we need to be brave, and we need to be motivated to deliver the best results.

As I have said many times before, fortune favours the brave, and those sellers who price keenly are generally those doing the best.

Jamie Hope is Managing Director of Sales at Maskells

More on prime London