Answers - Real Estate

A homeowner just put their house on the market and their real estate agent recommends an open house every Sunday until the home sells. Is t

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

his a good idea?

A different homeowner lists their home and their agent refuses to do open houses since they just waste time and money. Wh

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

Examples of combination products may in

ch agent's system is correct?

Frankly, I don't think either of these systems is a good idea. Too many open houses can make a seller look d

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

sperate. But refusing to do open houses because they don't work might not be in a seller's best interest. As a Realtor, I assess each home

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

nd family situation to come up with an open house plan that will work for my sellers.

Homes do sell at open houses! Do you live in a high

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

Combination pro

demand neighborhood with lots of drive by traffic? Will families be passing by on their way home from church or on their way to restaurants

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

and shops? Is your home priced correctly for the neighborhood?

If you can answer yes to these questions, an open house may be an effective

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

marketing tool for your home. Potential buyers who like specific areas will stop to see what is available. If the home is well priced, I ha

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

e seen buyers write offers on the spot.

One thing to consider is the internet has changed the real estate market. It allows buyers to be v

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

ery informed by doing research prior to attending open houses. Often net savvy buyers are working without representation and see the inside

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

of homes only at open houses.

If your home is well off the beaten path or you were the only one in the development to add all of the upgr

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

Following aspects would a

des, open houses might not be successful. Buyers won't follow more than 3-4 directional arrows and travel more than ? a mile out of their w

dd to the challenges in developing combination products:

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

y. Likewise buyers are frustrated when they do stop but realize that the price tag is $50K higher than the rest of the neighborhood because

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

there are granite counters, cherry wood flooring and custom birch cabinets. If your home falls in either of these categories, open houses

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

ight not be successful.

Does your family situation make open houses convenient?

If the only family time you have at home is Sunday

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

afternoons, it is ok to say no to open houses. Some homeowners want scheduled showings with qualified buyers only. This limits access to yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

r home and keeps "looky-lou's" to a minimum!

Timing and Duration of Open Houses

For most homeowners, I suggest one open house per

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

month and not longer than 2 hours. (I will do two per month, if the homeowner's schedule allows.)You should schedule the open house at leas

.

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

one week in advance. This allows time to place ads in the paper as well as on the internet.

Open houses are a valuable tool in selling yo

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

Companies that provide selfless information through particip

r home. To be effective, they must be combined with other tools in a complete marketing plan to sell your home.

Copyright 2007 Teri Eckhol

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.answers.org.ua/article/148696/answers-Open-HousesDo-they-Work-in-a-Buyers-Market.html">Open Houses—Do they Work in a Buyer's Market?</a>

BB link (for phorums):
[url=http://www.answers.org.ua/article/148696/answers-Open-HousesDo-they-Work-in-a-Buyers-Market.html]Open Houses—Do they Work in a Buyer's Market?[/url]

There are many people who are interested in forex trading. But before you start trading in forex, getting a good online forex trading education is important. The forex market is largely a technical market with its own forex terms and processes so it is important you grasp the fundamentals with an online forex trading education.

It shouldn't matter much, but many new market timers find that their own personal mood fluctuates with the markets, moving from extreme euphoria as the markets soar to new heights to deep despair when the markets plunge to abysmal lows.

Advisors are always talking about the importance of diversification. But what does it mean? There are ways to diversify your portfolio that don't require you to be an investing genius. Even beginners are able to diversify their portfolios, and they should.

Tags

Links

Answers - Open Houses—Do they Work in a Buyer's Market?

Related Articles: