Property valuation: notary or estate agent, which should you choose?

You are weighing up a property valuation by a notary against a valuation by an estate agent. Both exist in Belgium, both give you a figure, but they do not answer the same question. One carries weight with the tax authorities and before a judge. The other is calibrated on what a buyer will actually pay in the months ahead. Here is how to decide, depending on what you intend to do with your property.

What a notary does when valuing your property

A notary works above all from transaction data. They consult the deeds signed in their region, the prices actually registered, and they apply a comparative method to similar properties. Their valuation aims at the market value: the price a normally informed buyer would pay under normal market conditions, without particular pressure.

This approach has one clear strength. A notary is a public officer bound to impartiality. They do not sell your property and receive no commission on the price obtained, so they have no reason to inflate the figure or to talk it down. Their report is accepted by the tax authorities, by the courts and by insurers.

It also has a limit. A notary reasons from the registered past. They know the deeds that have been signed, but not always the properties currently in the window, nor how many prospective buyers came forward last month for a house like yours. In a fast moving market, that lag shows up in the final figure.

What an estate agent does when valuing your property

An estate agent starts from the other end of the chain: demand. They look at what is for sale today in your neighbourhood, at what price, for how long, and above all at what sells quickly and what lingers. To that they add what no database contains: the number of viewings generated by a comparable property, the remarks of prospective buyers, the objections that come up at every viewing.

They also look closely at your property. The orientation of the garden, the condition of the roof, the PEB energy performance certificate, the layout of the rooms, the noise from the street at five in the afternoon. These elements sometimes account for several tens of thousands of euros of difference between two houses in the same neighbourhood.

The result is therefore not a theoretical value but an asking price, together with a negotiating margin and a likely timescale. That is precisely what you need if your aim is to sell. An IPI accredited agent also puts their professional liability behind their analysis.

The cost: what each valuation really takes from you

This is where the comparison becomes very concrete.

A valuation by a notary is chargeable in the vast majority of cases. It is not part of the statutory scale of fees for deeds: it is a separate service, whose price varies from one practice to another and according to the complexity of the property. A written, reasoned report that can be used in an inheritance file logically costs more than a verbal opinion. Ask for the price in advance, as well as for exactly what the report contains.

A valuation by an estate agent is almost always free and without obligation. The reason is simple: the agent hopes to win the sales mandate. You are not obliged to give it to them, and nothing stops you inviting several.

That free service has a flip side you need to know about. A single agent may be tempted to announce a flattering price in order to obtain your signature, only to ask you for a reduction two months later. The defence fits in one line: compare several estate agents and set their figures and their arguments side by side before you sign anything.

When a notarial valuation is hard to replace

Some situations call for a figure that stands up before a third party. In those cases, a notarial valuation is not a luxury.

An inheritance, first of all. The declared value binds the heirs towards the tax authorities, who can contest an undervaluation and claim additional duties together with a fine.

A divorce or the ending of joint ownership, next. When two parties have to divide a property between them, a figure from an impartial public officer avoids months of discussion.

A gift, a guardianship, a dispute brought before the court: the same logic applies.

Outside these situations, if your only aim is to put your house up for sale, paying for a notarial valuation brings little. You will obtain a cautious and defensible value, but neither a pricing strategy nor a timetable. We have set out these cases in our article on a house valuation by a notary and on the right moment to call on a notary.

How to choose according to your situation

Three questions are enough to decide.

Do you need a figure that can be held against a third party? Inheritance, divorce, gift, dispute. If so, go to a notary and budget for the service.

Do you want to sell within the next twelve months? If so, a valuation by an estate agent is more useful, because it takes current demand into account and leads to an asking price.

Do you simply want to know where you stand? Start with a free valuation of your property to obtain an order of magnitude, then have it confirmed by a professional before any decision.

The two approaches are not mutually exclusive. In an inheritance file where the heirs also want to sell, the combination is frequent: the notary sets the declared value, the agent sets the asking price. The two figures can differ by a few per cent without anyone having made a mistake, because they answer two different questions.

Frequently asked questions

Is a valuation by a notary chargeable in Belgium?

Yes, in most cases. It is not included in the statutory scale of fees for deeds and is invoiced as a separate service, the amount of which varies from one practice to another and according to the complexity of the property. Ask for the price before ordering the report.

Can an estate agent value a property for an inheritance?

They can give you an opinion of value, but for an inheritance declaration a reasoned notarial report offers far better protection against a check by the tax authorities.

Why do the notary and the estate agent not announce the same price?

The notary calculates a market value from transactions already registered. The agent sets an asking price based on current demand. A gap of a few per cent between the two is normal.

How many valuations should you request before selling?

Three opinions from local agents are enough to spot an isolated figure, too high or too low, and to compare the sales strategies proposed as well as the commissions charged.

What to remember

The notary produces a value that is defensible before a third party. The estate agent produces a price that sells. Choose according to the use, not according to the prestige of the title.

If you are selling, the most profitable step remains to invite several local agents, free of charge, and to compare their analyses. You can compare up to three accredited estate agents in your municipality, with no cost and no obligation.