Answers - Real Estate

Home staging is an important marketing technique for selling homes, whether they are furnished or empty. As I have been receiving many que

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

stions lately regarding empty houses and how to sell them faster and for more money, this article will discuss the specifics of staging empty

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

Examples of combination products may in

properties.

Important points to remember about empty properties are:

• People buy «Homes» and not «Houses»: it’s therefore essential to gi

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

e them the feeling of a «Home» and you certainly won’t be able to achieve that with an empty space!
• A vast majority of people (over 90

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

%) can’t imagine what a house could look like with furniture in it and they have nothing to compare their own furnishings to in an empty spac

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

Combination pro

. Did you know that a room actually looks smaller empty than properly furnished?
• With nothing to focus on except the bare space, the

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

negatives will become more apparent to prospective buyers.
• An empty house gives an impression of a desperate situation and you can exp

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

ct to get lower offers than otherwise.

So, to sell your property fast and for most money, what do you need to do? Let’s start with the

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

outside: don’t forget to take care of the lawn and the landscaping – keep cutting the grass, trim the hedge and bushes, and plants/flowers ar

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

a nice touch in the summer. Rake the leaves in the fall, continue removing the snow in the winter and make sure that there is a clear path

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

to and around the house. Clean and paint the front door and the trim, if needed. On the inside, the house has to be spotlessly clean – ceili

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

Following aspects would a

ngs, walls, windows, floors and carpets. If needed, the house should be repainted in neutral, pleasant colors. You don’t need to stage th

dd to the challenges in developing combination products:

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

full house but it’s essential to focus on a few key rooms – entrance, living room, dining room and a master bedroom. Just a few pieces of f

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

urniture, art and accessories can suffice but they have to be well chosen and well positioned to make vignettes.

So, how do you stage an emp

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

y house? First, can you leave any of your own furniture behind for a while? If you can't leave anything, can you borrow from friends/family

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

any quality items? Another great alternative is renting furniture on a short-term basis. There are places in Montreal (and other cities)

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

Professional from academic institutions, pharmaceutical industries, health care indust

hich provide brand new, beautiful furniture and accessories specifically for selling an empty house. The stager will set it up in the most

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

advantageous way, add some accessories and a few pieces of art and voila! Some stagers have their own inventories as well and will rent you

.

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

he items required. Some creativity and some simple but efficient staging techniques will turn your empty house into a «home».

And remember,

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

Companies that provide selfless information through particip

first impressions can make or break a sale, so a bit of effort, time and money will go a long way to sell your house fast and for most money

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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