Vanity, one of the seven deadly sins, is an unfortunate human failing; it can also be an expensive one.

It’s a sad fact that here in Britain we have an obsession with the value of our homes. Sometimes I wonder if people think more about the money and the perceived wealth attached in the eyes of others to the home they own than whether it’s actually the right home for them to live in at all.

But there are more important things to worry about when it’s time to sell than impressing neighbours by asking more for your home than anyone nearby has ever asked for theirs. On too many occasions I find people wanting to talk up their asking price even when they know they will in effect be shouted down by the offers they receive.

One of the problems with asking too much is that the inevitable drop in price will come. The change will flag up on property portals and potential buyers can immediately sniff vulnerability. If you’ve come down once they will try to knock you down again, something that’s very hard to resist.

You can do something about this; just take the sound advice of the estate agent who gives you what you know to be the correct valuation rather the word of an agent who suggests a high price to flatter you.

There is literally no future in being unrealistic over the asking price and going too high before coming down could actually see you end up with even less than you might have got if you had followed correct advice.

Only a few months ago, lower offers never came because people were competing to buy. This year it’s different. Setting an asking price, and aspiration, that make sense can capitalise on the prospects of a quicker sale.

Don’t be deceived, or deceive yourself, with notional fancy figures. Go into the selling process with your eyes wide open and ready to accept the reality of today’s market. You might not like the fact that you’ll get less than you imagined but I bet you’ll have no qualms about bidding downwards on whatever property it is you want to buy!

Colin Shairp,

Director, Fine and Country Southern Hampshire and Town and Country Southern estate agencies, Drayton.<