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The latest news on this change — carefully culled from the world wide web by our change agents. They do the surfing, so you don't have to!

Cookie-Cutter Challenge

Cookie-Cutter Challenge

Many New Yorkers who are out to sell apartments or condominiums are facing a unique challenge–competition under the same roof. When a property has virtually the same amenities and square footage as another one down the hall, it's difficult to set yourself apart.

"All of a sudden it goes from being a home or a special space to a cookie-cutter apartment," broker Bahar Tavakolian told the New York Times. "It's like when you walk into a party wearing the same dress as someone else, you get uncomfortable."  While some brokers approach this situation with an all-out war strategy (read: sending covert spies to open houses for reconnaissance work) others have suggested a friendlier approach.

Many neighbors who are selling in the same building have chosen to join forces and hold group open houses. They figure if one property sells, it's good for everyone. One set of neighbors has even begun marketing their side-by-side apartments as a package deal; if one buyer wants both properties they can knock down a wall and have a huge suite.

This isn't unique to New York. As you sell your home, you could face competition from similar properties within your complex or neighborhood. What kind of approach will you take? [New York Times]

Posted: 8/11/08