Answers - Real Estate

Ok, you've decided to buy a home. Did you know that it is possible for you to get a huge rebate at closing on the next home you purchase. How, just ask your agent for 1

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

/2 their commission.

Now, you may be asking "why would an agent give me 1/2 their commission"? It's easy to understand if you just follow the next few steps.

Step 1 -

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

Examples of combination products may in

nderstand that 90% of all the real estate activity is accomplished by only 10% of the agent work force. That leaves 90% of the agents out there "going hungry". Your job

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

is to find a hungry agent.

Step 2 - You've decided to buy a home and would like an unadvertised rebate. Let your fingers do the walking. Just call any broker and say t

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

at you would like to do business with an agent at their company who will rebate 1/2 their commission. State that you want an agent who has at least 3 years experience an

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

Combination pro

is preferrably a "desk fee" type agent. Ok, new term "desk fee". That is an agent who gets to keep all the commission with no split to the broker. At my office, I pay

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

$350 a month and get to keep all commissions generated with no split to the broker. Because I keep all the commission, I don't have to get broker agreement regarding sale

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

office commissions. Call 5 or more offices and have each broker do the research for you. They should be able to find you a few candidates.

Step 3 - You need to prove

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

to the agent that you are a willing and able buyer. Go to a lender and ask to get "fully qualified" to buy a home in your price range. This will take you one step beyon

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

the normal pre-qualification step. Now, get the "full qualification" letter, so you can present it to the agent you choose. With this letter in hand and your ability t

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

buy, you will appear like "GOLD" to the agent.

Step 4 - Ask the agent to send you listings that meet your needs, you agree to pre-drive before viewing (state that this

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

Following aspects would a

is your trade off to get 1/2 the commission). After seeing a home of interest, call the agent to view.

Step 5 - When you find a home that meets your needs, you will hav

dd to the challenges in developing combination products:

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

have to make known on the Purchase and Sales Agreement, how the rebate is to be received. I have done rebates with the following terminology when closing costs were inv

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

lved:

Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buye

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

s closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).

As you can see this is a win-win for all those involved. You,

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

he buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice comm

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

Professional from academic institutions, pharmaceutical industries, health care indust

ssion and the listing agent gets the property sold netting his commission.

Hint: Always make sure that your lender allows rebates, gifts, etc. before doing business wit

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

them. Some are so restrictive that they don't allow rebates even though they may be allowed in your state.

Step 6 - Keep in mind that rebates aren't allowed in all sta

.

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

es. Currently, the states of AK, ID, IA, KS, KY, LA, MS, NJ, OK, OR, Tn and WV don't allow rebates or are restrictive in agent incentives. If you reside in one of these

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

Companies that provide selfless information through particip

states, ask an agent or call the real estate law division.

With Steps 1 to 6, you should now have sufficient knowledge to get a nice rebate on the next home you purchase

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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