Answers - Real Estate

When you decide to sell a house you usually want it done in a short period of time. You want to use the best methods to attract that perfect buyer, and you'd like to do it at the least possible cost.

With that in mind, some people get

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

creative. Instead of merely calling a Realtor and listing the house, they try to think of ways that might work better. Here are 5 different ways to choose from:

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

Examples of combination products may in

that no matter who sells it, your listing agent will be paid a share of the commission.

2. Give every Realtor in the area access through an "Open Listing."

3. Talk two Realtors into doing a "Co-list."

4. Sel

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

l it yourself as a FSBO and welcome participation from Realtors - meaning you'll pay them the normal selling side of the commission while you retain the listing side.

5. Sell it yourself as a FSBO and exclude participation fro

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

Realtors.

Only two of these methods are beneficial to you.

#1: Give an agent an exclusive and
#4: Sell it yourself and welcome Realtors.

Here's why:

Selling with an agent

When yo

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

Combination pro

u give an agent an exclusive listing, that agent will do your marketing. He or she will promote your house to buyers and also to other Realtors. He'll also help you with all the selling details such as arranging inspections, letting

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

he appraiser in while you're off at work, and staying on top of the closing process.

On the other hand, when you extend the invitation to all Realtors to sell your house, none of them will market it. No one will want to waste their t

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

ime because someone else could come in and sell it and they wouldn't even know it unless they had called you. The chance of selling with this method is slim.

Co-listings aren't much better. Each agent knows that no matter what, they'r

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

going to split the listing side of the fee with someone else. Neither will want to spend money on marketing and neither will be very interested in escorting other agents to the house. They only have so many hours in a day, and they ca

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

n better spend that time marketing houses that will result in a full commission.

Selling as a FSBO

When you sell it yourself and welcome Realtors you'll have to do the work of promoting the house to them, but they'll be intere

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

ted because they'll know if they sell it they'll be paid.

You DO want Realtors to bring their customers, because the majority of buyers do go first to an agent. Secondly, when buyers approach a FSBO they expect you to lower your price

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

Following aspects would a

and give them the benefit of the money you aren't paying the Realtor. I know, you'll tell them the price already reflects that fact, but that idea is hard to overcome.

Should you choose a Realtor or market it yourself?

That

dd to the challenges in developing combination products:

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

all depends on your time constraints, your knowledge, your personality, and your tolerance levels. If you're at home all day every day, and if you know a lot about the market and the selling process, you might be successful as a FSBO.

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

However, if you have to get out of the house and go to work every day, or if you aren't sure of the steps that must be taken before closing, you need an agent. You also need an agent if you are shy or if you are easily upset by ruden

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

ess.

Some buyers can verbally tear a house up to such an extent that you wonder why they would even consider buying something they hated so much! Of course they don't hate it, they're just trying to beat down the price, but it can sti

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

l be unsettling. If that will upset you, let your agent hear it so you don't have to.

Your agent is also a good buffer to use during negotiations. Buyers who are talking directly to you are apt to say "Would you take…" and expect an i

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

Professional from academic institutions, pharmaceutical industries, health care indust

mmediate answer. And unless the offer is "Full price, all cash, and no contingencies," you should never respond to a verbal offer, nor should you answer immediately.

For one thing, verbal offers don't contain important details - deta

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

ls that can come back later under the label "Misunderstandings." Secondly, if forced to answer immediately you don't have time to thoroughly consider the offer. It's better to have a little time to think before you answer.

If a buyer

.

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

does ask you that question, your answer should always be "I don't know. Put it in writing and we'll consider it."

If you do choose to hire an agent, remember that he or she is working to earn a living. So don't ask to have the

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

Companies that provide selfless information through particip

commission rate lowered just for you. The agent may agree if you really push, but you'll get less service and your relationship with the agent will be compromised.

Hire good people, pay them what they're worth, and let them do the job

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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