Sorimo - Estimation

Do you own a property that you’d like to sell or rent out? Whether it’s a house or an apartment, the first thing you need to know is how much you could get from selling or renting it.

If you want to estimate the value of a property, there are a number of online calculators out there that are useful for getting a rough idea. These platforms have access to a wealth of data they can use to compare your property to others that were recently sold or rented out in your area.

But these are just statistics based on some key data items, such as type and size of property, number of bedrooms and bathrooms, general condition, outside space, garage and so on. These algorithms don’t understand the specific, subjective details that might influence the market value of the house or flat.

Market value means the average likely selling price for your property under normal market conditions, taking into account all of its pros and cons.

It’s even more complicated to estimate rental value, because there aren’t many reliable calculators available. The Wallonia regional authorities provide an online tool called “indicative rental scale” (grille indicative des loyers), but it’s based on the Wallonian decree concerning tenancy agreements rather than masses of statistical data. In the Brussels region, the https://loyers.brussels website (available in French or Dutch) also calculates an indicative rental value (loyer indicatif de référence) for your property, but this is just for guidance purposes.

Ultimately, whether you’re selling or renting, calculators are not really the best solution, as they can only provide an indicative value. If you want a reliable estimate for selling or renting your home, you could enlist the services of a property expert or a surveyor, but this will normally cost you somewhere between €200 and €400.

The best option is to contact an estate agent. No one understands the local market better than an experienced estate agent. Their day-to-day work involves visiting and arranging viewings, as well as selling and renting properties of all different types and they always have their ear to the ground.

Estate agents have a wealth of local knowledge and are used to taking the more subjective factors into consideration, such as location, orientation, room layout, natural light, property condition, proximity to public transport, shops and schools, quality of life in the area, privacy, visual and noise pollution and more. They can also suggest ideas for potential developments or extensions and assess the need for renovation works or corrective maintenance.
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Estate agents estimate the value of your property based on all criteria that could influence the value either upwards or downwards. The agent’s valuation report combines their own local knowledge with the theoretical data used by online calculators to establish the market value and intrinsic value of the property.

This is the theoretical value based on property size, number of façades, bedrooms and bathrooms, plot size and a price comparison based on the local property market.
As well as providing a more accurate estimate of the value, this valuation is free of charge and with no obligation. Then the agent’s professionalism comes into play, as they devote all their energy to achieving their estimated sale or rental value. If you decide to take the plunge, an agent is best placed to highlight the advantages and reassure potential buyers or renters if they mention any issues when viewing the property.

So, in summary, you should choose the most suitable valuation method for your situation. If you just want a rough idea of the likely value of your property, online tools should be fine. However, if you’re looking to sell or rent in the near future and you need to know the true market value of your property, the only person who can really help is an estate agent. They can also offer a fast turnaround.

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