Answers - Real Estate

Every few years a real estate boom hits and new agents enter the field by the dozens - all excited about the big money to be made just by "being there."

Then the boom ends and those agents are faced with re

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

ality: If you want to make a living in real estate you not only have to work hard at all details of listing, showing, and closing sales - you have to work hard at marketing. If you don't, customers and clien

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

Examples of combination products may in

ts will be scarce.

Before you have listings to sell, you must market yourself to homeowners. And with about one million Realtors working in the United States, you have to think of a way to make yourself sta

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

nd out from the crowd. Placing the same tired "here I am" ads that everyone uses is more effective than nothing, but barely.

So - first you need to look at your own business and see what you do that's bette

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

than your competition. It could be specialized knowledge in a certain niche, it could be extra service, it could even be a fanatic dedication to returning calls promptly. But it has to be something. If you

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

Combination pro

choose a niche, be sure it is a certain kind of property, and not a certain kind of person.

Never suggest discrimination.

Then you need to seek out ways to get your message to the people. I recomme

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

nd choosing a "farm area" and using direct mail. Just be very careful to write a professional, "you-directed" letter. Tell them how you'll help solve their problems; don't ask them to solve yours.

Of course

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

you need to hand out business cards at every opportunity - even if you have to create the opportunities. Talk to people and be willing to give free advice when asked. Make friends with EVERYONE. You never k

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

ow when that boy who carries your groceries out will go home and tell his Mom that he's met the best Realtor in town. Be creative, keep your eyes open, and market at every opportunity.

Marketing to buyers i

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

s more difficult, because you don't know who they will be. The good news is, NAR did a study and reported that over 77% of home buyers search first on the internet. That gives you the opportunity to market y

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

ourself and your listings at the same time. Just be sure to create a strong presence, because a listing on page 44 of a search won't do you much good.

Marketing your listings is another two-part process. Fi

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

Following aspects would a

rst you have to determine the words to use, and then decide where to put them.

Where to put them is the easy part. The internet is the obvious first choice, but you also have the MLS, a local Homes magazine

dd to the challenges in developing combination products:

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

perhaps the newspaper, and direct mail to clients who might be interested. E-mail also offers a good opportunity to reach a large number of people at no cost.

The words are a little more tricky. Writing an

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

ad that sounds just like every other ad will get you past the gatekeepers at MLS who insist on some ad copy, but it won't bring you buyers excited to see your listing.

The creativity went out of house ads

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

when the ADA and Fair Housing laws told us that we couldn't use any words or phrases that might be considered discriminatory. Therefore we could no longer say "You can walk to the mall," or "You can hear the

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

leaves rustle in the trees."

When ads were financially restricted to just a few words it became impossible to write good descriptions. But now, the internet allows unlimited words, so there's no excuse for

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

Professional from academic institutions, pharmaceutical industries, health care indust

boring ad copy. Your real estate marketing can once again be creative, descriptive, and exciting. Your flyers also allow space for your creative efforts - so use it!

Stay away from mere features and bring b

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

ack benefits. I don't think anyone has outlawed the word "enjoy" yet, so you can tell buyers that they'll enjoy the breeze, or the view from the deck, or the flickering fire in that massive rock fireplace. I

.

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

n other words, you can tell them there's a view, you just can't suggest that they can see it.

My first broker, way back in the Stone Age, said: "Put the reader in the house." That advice is as true today as

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

Companies that provide selfless information through particip

it was then. Make them "feel" how fantastic it will be when they live in that house.

In return, you'll get faster closings, happier sellers, a better and better reputation, and... more money in your pocket

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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I'm reading the magazine and there's an interview with Meg Whitman, the CEO of EBay, about growing a business. Because I admire successful businesses and people, I digged in and started to read.

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Answers - The Two Sides to Real Estate Marketing

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