Actual - Real Estate

Part One: Are Expired Listings Really Worth It?

Expired listings are a hot real estate marketing topic lately. Some agents swear by expired listings and cla

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

im to earn nice commissions of them every single month. But for the majority of real estate agents, expired listings remain an elusive target with no consistent res

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

Examples of combination products may in

lts. Plus, expireds have a bad reputation of being difficult to deal with, and hard to list.

Are expired listings really a profitable source of real estate busines

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

s, as some agents and real estate trainers claim, or are they just a waste of your time and money? The answer is ahead....

As a real estate agent, you have two opt

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

ons to generate business and income. One way is to "buy" the business.

If you do have the budget, a few thousand dollars spent on advertising, marketing, direct ma

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

Combination pro

l campaigns, web, and promotions can bring you plenty of leads and listings. Arguably, it is an easier way to earn a living in real estate, but obviously more costl

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

y. But when the money flow stops, so does the business.

Seasoned veterans who combine extensive advertising and marketing with a large pool of referrals from past

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

lients can earn a great living this way without too much effort, or a need to prospect.

On the other hand, big marketing is out of the question if you are a rookie

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

agent on a tight budget.

You could just hope and wait for the next client to contact you from a sign call, or your web site, but that's a risky proposition, especi

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

ally in today's market. To make a living, you must roll up your sleeves and do some active prospecting - you going out there looking for business: open house, door

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

nocking, cold calling, For Sale By Owners, and expired listings.

Over the years, I have tried every one of those methods with various levels of success. They are a

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

Following aspects would a

l inexpensive, easy to learn, and each can be profitable, when done with consistency.

But out of all the prospecting methods, only expired listings offer you three

dd to the challenges in developing combination products:

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

great benefits:

1. EASY TO FIND
It's a good day of door knocking if you end up with a couple of hot leads. Even For Sale By Owners can be rare. On the

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

other hand, every day your local Multiple Listing Service hands you on a silver platter addresses, names, and many times even phone numbers of folks that wanted to

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

ell but didn't.

2. EASY TO CONTACT
Compared to Mrs. Jones that has lived in her house for the last thirty years and is terrified to even talk to a real

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

estate agent, expireds are easier to deal with (most of them, anyway). They have been through it already and for the most part know the drill.

3. EASY TO LIST

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

Professional from academic institutions, pharmaceutical industries, health care indust

/b>
Expired listings usually expire because of one thing: the price is too high. But if they are motivated to sell - and many expireds must sell - the reality

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

f today's market often sets in, and they can be easier to deal with than a regular home owner with plenty of time, low motivation, and little desire to move.

In th

.

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

e Part 2 of The Expired Listings article, I'll share with you some tips on how to make listing expired listings easy and profitable, even if you're a new agent with

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

Companies that provide selfless information through particip

no experience with expired listings. Meanwhile you can visit ExpiredPlus and find out how even a rookie agent can list 1...2...3 or more expireds every month

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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Actual - Expired Listings - Part One

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