Sellers are becoming more pragmatic and pricing their properties more realistically, it has been claimed.

According to fixed-fee estate agent WOW Property, it is convincing sellers to accept a small loss now to avoid making a substantial loss next year, when the property market falls further.

Gareth Robinson, chief executive officer of the firm, said: "Many estate agents have been guilty of setting sellers expectations too high which has resulted in minimal viewings, fewer offers and in a falling market ultimately less money for the seller."

Mr Robinson highlights figures released by Rightmove, which show the average asking price is 4.9 per cent less than it was a year ago and stands at £221,691.

WOW Propert claims its average sale time is 57 days – 32 less than Rightmove – and it will advertise properties online nationally for a flat fee of £999.

Last month, it was claimed by property firm Knight Frank that house prices would slump by 30 per cent from their peak in 2007.

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