Answers - Real Estate

Experienced Realtors are strong believers in marketing a property to the fullest extent of their capabilities. There has always been discussion on the merits of Open Houses.

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

While some real estate professionals believe that Open Houses are a necessity, they are not always quick to point out the many drawbacks with hosting an Open House.

The fi

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

Examples of combination products may in

st and most important thing you need to know is: Open Houses DO NOT SELL Homes, Realtors® Do!

Nearly all of the homes that are sold in the real estate market are sold becau

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

se a realtor had a meeting with the client who came to see the home. Most of the real estate agents have two main reasons for hosting the Open Houses. The first reason being

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

because they will usually meet promising clients who will usually come back and buy a house after the Open House. This will provide great business for the real estate team,

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

Combination pro

ecause all the buyers have seen is a classified ad. The classified ad usually will not have the details for the home posted, therefore the buyers are not getting all the fac

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

ts that they should. When the buyers are not getting all the facts, it is nearly impossible that the home can be described as “perfect” for the buyer. A professional realtor

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

will give you a lot more than an ad. They will sit down and give you all the details for the home, and then research a home just for you based on your preferences. Doing thi

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

process is more likely to find the buyer a “perfect” match. Open Houses will just lure buyers that want to see which homes are attainable. An unprofessional realtor will ju

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

st see it as an opportunity to meet a confused buyer, and is hoping to get a new client for the Realtor®.

The second reason is quite straightforward. Open Houses are hosted

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

because some sellers will fall in love with the home at first sight. The Realtor wants to keep the slim chance that a buyer will walk in and immediately make an offer for th

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

Following aspects would a

home. What really happens is the buyer is not ready yet, and soon they will have a home that they are not satisfied with. That is why they take the time to give the buyer a

dd to the challenges in developing combination products:

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

ll the details that are needed, and then let them purchase their homes.

Experienced Realtors will provide you with the quality customer service you deserve. They will host

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

pen Houses as the client wishes, but they would much rather have the buyer to be in our office so that they can give them all the details that will make them ready to buy th

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

home. While they host an Open House for you, they will not be in their office trying to follow leads and come up with marketing ideas to find unqualified buyers. A recent s

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

tatistic shows that less than 1% of all the homes sold come from open houses. They should also know that from their own personal experience.

Even though someone living clos

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

Professional from academic institutions, pharmaceutical industries, health care indust

by is having an Open House, your property will receive just as much attention. Experienced Realtors work diligently to provide good marketing in large amounts through the i

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

ternet, personal contact with other clients, and in print. Experienced Realtors are among the few Realtors that will find a property that is right just for you. Even if the

.

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

buyer is not a client of theirs, they will still show all the properties that they have to offer. The great customer service that being offered has been a big factor in succ

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

Companies that provide selfless information through particip

ss!

If you would like more information about Open Houses or anything else offered, do not hesitate to contact them. They would be glad you provide you with more information

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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