Answers - Real Estate

As a real estate agent, technology is important to you. You use it every day to conduct business, do research, access potential clients and to communicate. You know technology use is growing. What you may NOT know is that technology and home offices are quite possibly one of the biggest selling points a house can offer.

While family size

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

is still declining, the number of people working full-time or part-time from home (and those executives that need full-office access from home) is on the rise.

Statistics You Can Use:
According to the most recent US Census reports, the number of individuals working from home has nearly doubled since 1980. See if the followin

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

Examples of combination products may in

g Census statistics on the “home office” workforce in the United States describe your ideal buyer(s):

The greatest number of individuals that work from home are ages 25-59, with the largest percentage of those being age 40-44 years old

Substantially more women work from home than do men (the only exception is ag

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 range 55-59, with 0.9% more men than women)

Most of those working from home fit into the following business categories (in descending order):

Management

Sales

Business and Financial Operations

Profession and Related Occupations

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

Service Occupations

Personal Care and Service Occupations

Office and Administrative Support Occupations

The overwhelming majority (67.4%) of these individuals work 50-52 weeks per year and 65% worked for 35 or more hours per week

48.4% have a bachelor’s degree or some colleg

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

Combination pro

e and 12.9% have a graduate or professional degree
(NOTE: The figures above do not include individuals working full-time, who work from home on a part-time basis, while commuting to work part of the time.)

Convert Spaces into a Home Office:

When advising listing clients on how to best

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

stage their home, you may want to encourage them to dedicate a space to creating a home office for showings. Even if the house can’t dedicate a bedroom, there are other ways to capture under-utilized spaces for this purpose. Have your client consider converting a utility room, a too-small family room or even an isolated nook of a larger room. <

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

r>
“Found spaces” lend themselves well to home office creation. Odd shaped areas, like extra large landings between floors and wide hallways that continue well past the entry doors to rooms on either side, can become a home office. Your listing client may also capture a section of a sunroom or enclosed porch, reassign the use of a butler’s

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

pantry, redecorate a master bedroom’s “sitting area” or convert a large walk-in closet. Any of these could function beautifully as a home office.

Unlike standard living areas, creating a home office in a more remote, less easily utilized/accessed space is ideal. When working in a home office, being out of the direct line of family liv

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

ing is a bonus, not a problem.

So consider re-assigning a pool house, part (or all) of an attached or detached garage, attic areas (over the main house or garage or other buildings), or basement areas.

(NOTE: Rural homes, in particular, are becoming more attractive to those buyers who wish to escape the city and b

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

egin (or continue) working primarily from home. Current technology makes the dream of working from home, more economical and more viable than ever before.)

Help Your Listing Clients Prepare: If you are guiding your listing clients as they create home office spaces, remind them to ensure the space has:

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

Following aspects would a

dequate plugs

excellent lighting

a good view (if possible)

phone/DSL wiring

ample storage

cable (for additional ISP options and the ability to monitor stocks and the news)

The home office should be both comfortable and efficient. Storage matters here – but it doe

dd to the challenges in developing combination products:

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

sn’t have to be built in – it will show just as well with freestanding desk and filing areas, cabinets, and bookshelves. Don’t forget a comfortable reading chair with a table and lamp, if space permits.

You may want to discuss the option of renting office furniture “month-to-month” during the listing period with your listing client

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

-- if the home office concept is particularly hot in your area. Market the House: Remember… it’s usually a single room that sells a house. If you focus on creating an impressive home office space – it may be the key to accessing the exact demographic you want to reach! You aren’t just selling a home; you are appealing to an

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

ndividual.

Be sure you “play up” the home office asset when you market the home.

Ask questions of potential buyers to help them recognize the benefits a home office may offer their current job (or an anticipated future job or business)

Outline the particulars of the office in your written d

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

escriptions, photographs and virtual tours
(NOTE: Consider creating a list of homes with nice home offices as a “niche market” for yourself. Create flyers that you can include in information packets, relocation packages, or post these on the web as special interest listings.)

Market the Home Office Co

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

Professional from academic institutions, pharmaceutical industries, health care indust

ncept: Utilizing technology to “telecommute” or work from a home office makes sense. And with today’s fuel prices… it makes dollars! One selling point for using a home office, even just two days a week, is how much money will be saved without the commute. You may also want to mention the family time that can be gained, which would othe

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

rwise be spent on the road.

Realize that there is a growing entrepreneurial sentiment, a common dream of working from home that many individuals nurture. Even if they have not recognized the need of a home office, the appeal of having one is great and offering homes that boast that option is alluring.

Using this information

.

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

to appeal to potential buyers can help you sell your listing client’s homes faster, for more money. A small investment to create an effective office space can pay big dividends.

Technology and work have “come home” for many people. Make it available to your clients and help them sell their home faster – even in the toughest housing mar

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

Companies that provide selfless information through particip

ket. When you market a home, you aren’t selling walls with a roof … you are facilitating a lifestyle!

(NOTE: If you would like more information on the demographics of home office workers, visit www.Census.gov, where you will find demographics specific to your own state.)

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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Answers - Home Offices Sell: Fast-Track Your Real Estate Listings for Quicker Home Sales

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