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House prices are, on average, 16.2% lower than they were a year ago, according to the Land Registry. And while low house prices are great news for buyers, if you are selling your house you may feel like you’re in a no-win situation. No one wants to sell their biggest asset at a loss, but if you really want – or need – to sell you may think it’s the only option. When prices are low, buyers become more savvy, and much more demanding, but that doesn’t mean sellers can’t be too. Follow these top tips to feel more confident about selling at a price you’re happy with.

1. Don’t undervalue your home

Falling house prices don’t automatically mean that your home is worth 40% less than you bought it for. Not only is every home different, but every region is too. Overall house prices have fallen £30,728 in the last year overall, but in Wales they have only fallen £14,804 (Land Registry, April 2008/09). View regional property prices

2. Remember local variations

As well as regional variations some towns and cities might have their own pricing variations. If you live in a particularly desirable area, houses near you may have held their prices well in the last few years. See how much houses have been selling for near you recently, for the bigger picture. Buyers will be doing their homework, so make sure you do yours.

3. Valuate, valuate, valuate

Once you have an idea of housing market in your region, get three valuations, and choose the one you are (realistically) happiest with. It is most likely that this will be the middle valuation. Start with a valuation from Hometrack.

4. Increase the value of your home

This doesn’t necessarily mean spending thousands of pounds on an extension – it is the perceived value that buyers place on things such as a well kept garden, or freshly painted walls. If you do have the budget for a major renovation, the perceived value of extra space is £21,207, but the average actual cost of extending is £17,402, according to a recent Halifax survey. Find out more here about increasing the value of your home on any budget.

5. Shop around for an agent

Compare estate agents, getting recommendations from friends and neighbours. 'Qwicksell & Sons' might have a low commission, but what are you getting for your money? You want an estate agent who will promote your home in the best way possible. Make sure the images and description they’re using is up to scratch, and if it’s not, get them to change it. As a starting point, read reviews of estate agents in your area.

6. Make a good first impression

Give potential buyers a great first impression by tidying up your front garden, or driveway, and making sure your entryway is as welcoming as possible. It might be worthwhile getting in a gardener to give the front a professional touch, or a decorator to give your door and hallway a fresh coat of paint.

7. Woo the buyer

Be obliging and flexible when it comes to meeting buyers. They might request to view your home at a time that isn’t right for you, but you could be turning down a great opportunity. And remember the little things count, so make them feel welcome with a cup of tea and a biscuit. If buyers feel more comfortable with you, they will feel happier about doing business with you.

8. Be realistic

Be positive, but don’t expect to sell your home at its 2007 price – it’s generally accepted that boom prices were unrealistic, and we are now living in a very different economic climate. In July 2007 the average house price was £187,687 – this now sits at £154,016 (according to the Nationwide). Check historic house prices for your region

9. Think like a buyer

Get inside the buyer’s mind by reading ‘How to succeed in a buyer’s market’. The buyer is not your enemy – they have good reasons for getting their home at a reasonable price. By empathising, you should be able to talk to your potential buyers on the same level.

10. If you still can’t sell...

... don’t take it personally, and re-evaluate your situation. Even with lower property prices many potential buyers are still finding it difficult to get an affordable mortgage. Ask yourself if you do really need to sell, or if you can improve instead of move.