Answers - Real Estate

1. Correct Pricing - In a buyer’s market, shoppers have plenty of options to choose from. The larger the inventory, the more choices buyers have - and the more price-competitive you need to be. Buye

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

rs will discard overpriced homes and concentrate on those that are not over-priced. All broker listed real estate is either over-priced by the amount of the commission or at least less price flexibl

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

e because of the commission. You have a huge advantage selling privately. Don't blow it by trying to compete with broker listed properties in price! You don't have to reduce your price by six or se

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

en percent; just one to two percent will make worlds of difference. You will sell faster than the brokers and you will still net more than had you used a broker in the first place! A current apprai

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

sal by an independent, certified appraiser is simply the best tool available to you to obtain your current market value. Plus, it gives you a negotiating tool to help sell for the most money. Don't

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

use an appraisal that you got for a refinance or loan. The news is full of stories of properties that were over-appraised for a loan. Tell your appraiser that you are having the appraisal done to a

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

rive at a sales price, not to get a loan. Don't tell them what prior appraisals have come in at. Don't tell the appraiser what you think the property is worth. Let them be as objective as possib

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

le. You can tell them how quickly you'd like to sell though. This can make a difference in your asking price. Remember that price isn't always just a matter of "what it's worth". It's also a func

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

tion of your goals.

2. Exposure - Lack of exposure is the single biggest mistake sellers make other than incorrect pricing. Buyers use many different methods to find homes including the web, public

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

tions and plain old “driving around”. You need a comprehensive program to ensure you are reaching the maximum number of buyers. Don’t skimp on marketing! Where you make your money is in your commis

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

sion savings, not in “how cheap can I do this”! Use the web. Use FSBO homes magazines. Use the newspaper. Use flyers. Use signs. Use word of mouth. I recommend a marketing budget of 1% of the

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

properties asking price. Most of the time you'll never spend that much, but if you budget it, you won't get caught underspending either.

NOTE: If items one and two above aren't done properly, items

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

three and four below won't help at all. Buyers will either bypass you altogether because you're priced too high or they'll never know you are for sale in the first place. There are only two keys to

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

selling real estate: Price it right and expose it to buyers. If you don't do both properly, your sales experience will likely be a bad one.

3. Curb Appeal - Buyers make an initial decision to loo

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

k at a home based on price and then on curb appeal. If you’ve priced it right you can ensure a buyer will want to look at your home by improving curb appeal.

Landscaping - Keep lawns cut, edged and

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

se a trimmer for areas the mower can’t reach. Remove and replace any overgrown shrubs which obscure the features of the home. The top of shrubs should never block any of the front windows. Plant lots

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

of flowers (800% potential return on investment!). Pick all weeds and make all needed repairs to screens windows, shutter and peeling or worn paint.

Front Entryway - An attractive front door welcom

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

es buyers. Repaint or clean it and any windows in it or around it. Clean off any scuff marks and add a seasonal welcome wreath. If the screen door is in fair or poor condition, remove it. Sweep all w

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

lkways and porches.

4. Prepare Your Home’s Interior - This is so important that an new industry, called “staging” has spring up. Ever been in a beautifuly decorated model home? Remember how you wan

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ted to immediately move in? One of the main goals of staging is to de-personalize and declutter your home. Buyers want to see their home, not your home. Equally as important is to clean, clean, clean

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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