Advice Pool - Real Estate

A friend stopped by today looking a bit down. When I asked him what was up, he started telling me about his house, and the fact that it has been o

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

n the market for a while without any offers.

“They’re telling me it’s a hot market and my price is right, but nothing is happening.” He’s ask

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

Examples of combination products may in

ng $299,000 and a local builder told him it would cost $300,000 just to replace the house. Never mind the panoramic view or the ten acres of old g

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

owth trees behind the house.

So what’s wrong? He listed with a major franchise chain and a top-selling agent. BUT that agent has been on vac

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

tion for the past month.

Everyone knows that agents get a commission even if they sell another agent’s listings. But they get half…and gener

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

Combination pro

lly have to share it with the office. In a hot market they may not need to go beyond showing their own listings. And if they do, they’ll show the

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

ones closest to the office. That was the other mistake my friend made: listing with a firm more than 20 miles from his home. Even his own agent

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

ill show the easiest listings first. Laziness is an unfortunate part of human nature.

What can my friend do? Fire her. But carefully.

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

f you, as a seller, are unsatisfied with the service you’re getting, the first step is to call the agent and state your concerns. Ask to see what’

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

been done to sell your house, how many showings they’ve had, what the buyer comments have been, and if they have any recommendations on price, min

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

r repairs, etc. Tell the agent that you expect some showings, or in a slow market, good communication. If your agent is not available or refuses

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

Following aspects would a

o return your call… go to the broker of the firm.

Then, give them a week to get on track. If you’re still unhappy, call back and tell them yo

dd to the challenges in developing combination products:

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

are cancelling the listing and you’ll be in to pick up their signed release. This is an important point. Do not withdraw your list

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

ng, because that signifies that the house is merely going off the market. If you sell it yourself or list it elsewhere, you will still be bound to

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

paying a commission if the purchase agreement happens prior to the last day of their listing.

If the broker refuses to let you out of the cont

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

act and you feel you have good cause to cancel, call your state Board of Realtors. They should be able to help you without you needing to pay an a

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

Professional from academic institutions, pharmaceutical industries, health care indust

torney. A listing IS a binding contract, but if one party refuses to act in good faith, the other one does have a right to break the contract.

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

The two most important points to remember are the word cancel and the signed release. Without those, you could end up paying a double commission.

.

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

And nobody wants to pay someone for not giving service.

One last word: don’t try to fire your Realtor if they’ve been giving service but you

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

Companies that provide selfless information through particip

happen to stumble over a buyer on your own. It’s dishonest, unethical, and the money you save isn’t worth the price of knowing you’ve been a cheat

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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Advice Pool - Home Sellers: How to Fire Your Realtor

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