Top Adding - Real Estate

When I meet with sellers about listing their home often times I hear the strategy of setting

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

the initial asking price high and then coming down in price if it does not sell. This is r

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

Examples of combination products may in

eally not a good idea in a traditional real estate market.

Over the last few years sellers

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

in Sarasota, Florida were successful using this strategy of listing their property with a hi

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

h sales. They were successful because Sarasota like other parts of the country was in an ex

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

Combination pro

treme sellers market. Our prices were continually going above the most recent sales price.

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

Now that the market has cooled off a little bit it is necessary to change strategies when d

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

eciding on an asking price.

If you start out with too high of a sales price, then decide to

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

drop it later your house has lost that initial flurry of activity that new listings typicall

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

y get. This strategy could hurt your chances of selling your home quickly.

I think home se

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

llers want to try this strategy hoping to find an uneducated buyer. Our real estate markets

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

Following aspects would a

have become very efficient. Real estate information is easy to get and it travels quickly.

dd to the challenges in developing combination products:

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

About 3 out of 4 buyers start their home search on the internet. Today's buyers are more sa

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

vvy and are more educated. Properties are listed on the MLS and most buyers have access to

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

these listings quickly. The chances of pricing your home very high and selling it to an uned

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

ucated buyer is slim.

Lets say you do price your home high and later lower the price. Once

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

Professional from academic institutions, pharmaceutical industries, health care indust

your home has been on the market awhile it becomes stale and is harder to get a good offer.

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

Potential buyers always ask how long a home has been on the market. If they see it has been

.

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

on the market awhile they will make lower offers. By overpricing your home in the beginning

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

Companies that provide selfless information through particip

, you could actually end up settling for a lower price than you would have normally received

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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Top Adding - Home Sellers: The Dangers of Overpricing Your Home

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