Advice Pool - Real Estate

Here are some ways in which you can sweeten the pot and beat your competition to a sale

Out here in the field we are seeing home prices dropping as sellers respond to housing market pressures. Some sellers are

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

still expecting premium sales prices for their homes, but the transitioning real estate market is resisting high prices and causing sellers to re-evaluate their expectations.

It's a whole new ball game and, if you wan

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

Examples of combination products may in

t to play, you need to know the new rules. Getting an agent to stick your home on the local MLS system and waiting for the offers to come in won't cut it anymore. Today, traditional sales methods are not enough to sell

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

your home in a reasonable time for a decent price. Home buyers have too many choices and home options to choose from. They are driving the market and your home is only one of many that they are evaluating.

The obviou

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

s response to the market, which has been adopted by many sellers, but at a price, is to reduce the price of your home below other comparable houses in your neighborhood. Although many sellers have built in some wiggle

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

Combination pro

room between their asking price and their bottom line, buyers are asking for reductions that will significantly erode the seller's profit, sometimes to zero. Those who have a need to move quickly, for employment for ex

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

ample, will even take a loss in order to remove the burden of two mortgages or ending up renting. This situation, by the way, offers real estate investors an opportunity to pick up some good bargains.

Even in today's

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

market, you don't have to drop the price of your home to the point of taking a loss. There are other ways in which you can add value to your home, even if it is only perceived value, that will enable you to make a good

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

profit and still sell in a reasonably short time. The use of sales incentives can be a very smart and cost-effective way to add value to your home without sacrificing much of your asking price, if any. Here are some

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

things that can sweeten the pot and make your home a more attractive choice to potential buyers:

1. Offer a 3% commission to the buyer's agent. Some agents will not show your home for less than that and they will most

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

likely pick your home apart in front of the buyer if they do show it.

2. If you're in a homeowner's association, pay the new buyer's fees for the first year or more.

3. Buy a home warranty, which protects all the ap

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

Following aspects would a

pliances in the house including the air conditioning and heating systems. The cost is usually less than $450 for one year.

4. You can pay all or part of the buyer's closing costs, which can be deducted at closing from

dd to the challenges in developing combination products:

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

your sales proceeds, so you have no out of pocket expense.

5. Pay the buyer's property taxes for a year or some period. You may already have paid a portion or all of it anyway. Again, no out of pocket expense.

6. If

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

you have oil heat or propane, give the buyer a full tank of fuel.

7. Offer free grass cutting or landscaping for a period of time.

8. Provide all new carpeting or kitchen appliances or leave furnishings that the buy

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

er may want.

9. Offer to pay the buyer's property insurance for a year or more.

10. Buy down the buyer's mortgage points by a point or two. This adds significant value to the buyer in terms of dollars saved and it

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

will cost you little.

If you think about it, you can probably come up with more. I have suggested and used these and other methods for distinguishing my clients' homes in this tough seller's market. In addition, if yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

u spruce up your home with new paint, especially the front door and kitchen, landscape your yard, clean thoroughly throughout, and stage your home to put it in it's best light, your home will outshine the others in you

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

r neighborhood.

One final suggestion - hire a competent real estate agent. An agent will ensure that you don't leave money on the table and help you with all the ways in which your home can be the best buy on the bloc

.

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

k. I can always justify my commissions because I get the home seller more money than he could on his own. A top-performing pro will make you money and not cost you. Just ask the many 'for sale by owners' who ended up h

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

Companies that provide selfless information through particip

iring an agent after an unsuccessful attempt to sell on their own or the ones that ended up getting much less than their asking price. But if you are determined to go it alone, the above tips should help.

Ciao for now

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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