Answers - Real Estate

As a professional home stager I am asked on a daily basis the same question . . . does home staging really work? And on a daily basis my answer is the same.

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

Yes, it really does!

The other day I received a frantic call from someone who, because of a job transfer, had moved out of state. He had purchased two townho

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

Examples of combination products may in

mes strictly for investment purposes a couple of years ago . . . back when the market was hot, hot hot!. Both townhomes had much in common. They were 3/2's

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

in very nice gated communities . . . both sitting on the market, vacant, for over six months with no potential buyer in sight. The seller was getting desperate

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

. I listened to him for several minutes and then he popped the big question, the one I hear daily . . . does home staging really work? And my reply ag

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

Combination pro

ain was YES, IT REALLY DOES!

I agreed to go the next day to visit these townhomes and give my recommendations. Upon entering I could immediately see why noo

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

ne had shown interest in either home. They were 'VANILLA' in a Baskin Robbins world! Each were in great locations, had good basic floor plans, but nothing th

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

at would distinguish them from the hundreds of other townhomes on the market in the same area, for the same price. With builder beige carpeting, white walls,

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

light oak production cabinetry and standard light fixtures throughout, there was no personality in either home. Nothing exciting or memorable to make them st

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 out in todays competitive market.

The following are five reasons to show why, especially in today's market, it's important than ever before to stage a va

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

cant home:

* Homes that show well are the ones that are warm, inviting, and make an emotional connection with the buyer. Vacant homes rarely accomplish

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

Following aspects would a

this goal.

* Without furniture, there is no frame of reference, making it difficult for buyers to tell the scale and size of the room. Will the master be

dd to the challenges in developing combination products:

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

droom fit a king size bed? How about the great room - it looks too small for a sectional. When buyers have to start questioning . . . they normally walk away

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

.

* When homes are vacant, every flaw is exposed. Normal wear and tear, a chipped tile or small crack will be magnified. This will cause buyers to focus

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

on the negatives . . . rather than the positives. A professional stager knows how to redirect a buyers focus, emphasizing the positive features of the home w

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

hile visually diminishing the negatives.

* Only 10% of buyers can visualize, so when they walk into your home, 90% won't actually be able to visualize the

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

Professional from academic institutions, pharmaceutical industries, health care indust

home's potential. You don't have to be a gambler to see that these are terrible odds with probable poor results.

* A vacant home will send a message to

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

buyers that the seller is desperate to sell. Right or wrong, knowing the seller has already relocated gives the buyer a distinct advantage when negotiating, o

.

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

ften submitting a lower offer.

The fundamental thing to consider when deciding whether to furnish a vacant home is price. And statistics have shown that the

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

Companies that provide selfless information through particip

'price' of leaving a home vacant can be a lower selling price and a longer time on the market. You must ask yourself if this is a price you can afford to pay?

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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Answers - Vacant Home Staging - Does Vacant Home Staging Really Work - And If So... Who Can Afford It?

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