Answers - Real Estate

If you want to sell a property, you can choose to sell the home yourself or you can choose to sell your property through a real estate agent. A professional real estate agent can attract buyers, market a

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

property, and can get you a great price on your home. On the other hand, an agent takes real estate commissions that can average 5-8% of the selling price. By using a real estate agent, you are also effec

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

Examples of combination products may in

tively giving another person control of the selling process. If you are having a hard time making your decision, ask yourself a few questions:

1) What is my time commitment? If you are in a hurry to sell

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

your home or don’t have a lot of time, you may want to let a real estate agent handle the many tasks associated with selling a property. An agent will generally screen buyers, market your house, show the

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

property, do all the paperwork, and negotiate on your behalf. If you don’t know how to do all this, you will have to factor in learning time, as well.

2) What is my knowledge of real estate? Real estate

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

Combination pro

gents rely on an agent network and previous experience to sell a property. If you do not have knowledge of real estate but want to sell your home, you will want to research the market before you place you

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

r property up for sale.

3) Am I qualified to screen buyers and negotiate contracts? If you want to go the “for sale by owner” (FSBO) route, you will need to hire professionals to run background checks an

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

research sellers. In general, you will want to hire someone who can ensure that buyers qualify for financing and you will want to hire a real estate attorney to negotiate and draw up contracts. However,

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

you will still have to rely on your own instincts about which offers and which buyers are a good fit for you.

4) Do I need to stay in control of the buying process? Many property owners choose to sell th

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

ir home as a FSBO property because they want full control of the selling process. As the seller, you can choose the price, advertising strategy, open houses and much more. If you sell your home yourself y

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

ou can choose to see buyers by appointment and manage every aspect of the sale. A real estate agent may have their own ideas about the best way to sell a home. Also, consider that you know more about your

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

Following aspects would a

property than an agent. If your home has special qualities that a real estate agent does not appreciate, you may be able to offer more information and help to potential buyers.

5) What is the market lik

dd to the challenges in developing combination products:

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

? If it is a seller’s market, you may not have any trouble finding buyers and good offers for your home. In fact, you may have potential buyers lined up before you even put your property up for sale. If y

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

our home is in a very desirable location or is highly desirable for some other reason, you may face a buyer’s market, no matter what is happening with real estate. If, on the other hand, your area’s real

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

state market is a buyer’s market or if your home is undesirable to potential buyers for any reason, you may have a harder time selling it yourself.

6) Could my emotions get in the way? Selling real estat

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

e is all about emotions. You must engage with buyers and be pleasant in negotiations. If you want to sell your home, you can’t be too attached to the property or a particular price.

7) Would a hybrid rou

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

Professional from academic institutions, pharmaceutical industries, health care indust

e make sense? While most property sellers think that they have to choose between a real estate agent and a FSBO strategy, this is not the case. You can offer your home for sale yourself but hire professio

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

nals such as discount brokers, "paid-for-services" agents or settlement agents to help you. You retain control of the selling process but pay a commission to these agents to help you find buyers.

Selling

.

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

your home can be nerve-wracking. Deciding whether to do it yourself or whether to hire a real estate agent is a big step. Think carefully and answer all the above questions before you decide. The right se

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

Companies that provide selfless information through particip

lling strategy can save you a lot of hassle, so choose wisely.

This article is free for reproduction provided that the author biography, complete with links, is included along with this disclaimer.

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 - For Sale By Owner Or A Real Estate Agent - What Is The Best Way To Sell?

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