Answers - Real Estate

It has been said before and will be said again, "The internet is changing the role of the Realtor." Realtors have held a firm gr

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

ip on the information needed to buy and sell a home for decades. They have not made it easy but with the help of the government

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

Examples of combination products may in

nd some forward thinking Realtors an increasing amount of information is being supplied to buyers and sellers via the internet.

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

This information is turning the tables on the traditional real estate model.

According to the National Association of Realtors

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

he national median average selling price of a home is $230,000. A traditional "full service" listing agent receives, on average,

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

Combination pro

a 6% commission when the home is sold. That amounts to $13,800. The average person buys and sells a home 3 times in their lifet

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

me and each home is more expensive than the next. That is a lot of money to have to pay a Realtor.

The traditional "full servic

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

e" or commission based Realtors claim that charging a 6% commission for a home is totally justified. There are many reasons that

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

traditional Realtors feel it is appropriate to use this model. The most common reasoning seems to be that they are professionals

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

and people pay a lot of money for services rendered by other professionals, i.e. lawyers and doctors. They use this to somehow

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

egitimize the practice of charging very large commissions to sell homes.

This is a very poor reason. It is blatantly obvious th

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

Following aspects would a

at most people would agree that the majority of professionals charge too much for their services. However, the cost for their se

dd to the challenges in developing combination products:

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

vices is more justified than the cost of using a Realtor. There are a number of important factors that differentiate a lawyer an

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

d doctor from a Realtor but the most basic is that lawyers and doctors have to go through an EXTENSIVE education process before

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

hey can even become what is considered a professional in their field. Selling a home can be a somewhat complicated process. Howe

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

ver, it is ludicrous to legitimize the high cost of selling a home based on professions that are as complicated as defending som

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

Professional from academic institutions, pharmaceutical industries, health care indust

one on trial for murder or performing open heart surgery.

Charging a large commission to sell someone's home is an outdated rea

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

l estate model. Realtors need to realize that the days of chauffeuring buyers and sellers around are over. They want to take the

.

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

wheel. Provide them with that ability. The Realtors that understand this are going to survive and thrive. If they are doing some

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

Companies that provide selfless information through particip

of the work they shouldn't be charged for it. It's time for a change and the internet is bringing it whether you like it or not

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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