Actual - Real Estate

Forget the hype. You are getting ready to buy or sell a home, but before calling that Denver real estate agent you should learn the ins-and-outs of working with a Denver Realtor.

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

You should get started by understanding and avoiding some common Denver real estate agent myths.

-Lenders, title companies and inspectors give kickbacks to real estate agents.

T

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

Examples of combination products may in

is is false. In 1974 the Real Estate Settlement Procedures Act was created. This act prevents agents from getting any kind of kickback or favors from real estate vendors. Any vi

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

lations of this act would put the agents license and their livelihood in jeopardy.

-Real Estate Agents make too much money.

This is false. The median income for real estate

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

gents in 2006 was $47,700. Plus, about half the agents at large brokerage firms close less than 4 deals a year. Out of which, you pay office fees, overhead and expenses, errors and

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

Combination pro

omissions Insurance, office supplies, MLS fees and lockbox fees. Not many people can live on what is left.

-To get the best deal on a home call the agent listed on the for sale s

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

gn.

The agent on the for-sale sign is contractually bound to represent the best interests of the home seller. The home seller would like to get the highest price possible fro

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

any potential home buyer. If you pass along negotiable information (such as how much your willing to pay) to a sellers agent, that agent is contractually bound to pass that same

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

nformation along to the buyer. Having a buyers agent represent your best interests does not cost you and benefits you by having a real estate professional representing your best i

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

terests.

Real estate agents that belong to the Multiple Listing Service or MLS, all have access to the same Denver area homes for sale. Ask your real estate professional if they

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

re a member of the MLS. Then convert that phone time to spending time with the Denver Realtor that you’re comfortable with. Talk about the type of home you are looking for and yo

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

Following aspects would a

ur goals. This will help your Realtor really narrow in on the home that fits your needs. This approach will save you time and make for a smooth home buying experience.

-Pay a sm

dd to the challenges in developing combination products:

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

ller commission and you will make more.

This is False. A myth perpetuated by discount brokers. The claim they make is that sellers save money by paying less commissions. Th

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

truth sounds a lot less appealing. Discount brokers or less than full service agents cannot afford the complete marketing package that a full service realtor offers. Full servic

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

Realtors offering a complete marketing package tend to draw higher offers. A two percent commission reduction does not amount to much when your price gets discounted ten percent

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

ecause your agent could not afford to properly market your property. Top producing agents don’t discount their services, because they generally still net the Denver home seller mo

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

Professional from academic institutions, pharmaceutical industries, health care indust

e.

-When you pay more for a house, your agent makes more.

This is false and very misunderstood. I have heard it said that “every additional dime you pay for that house makes

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

the agent more money.” The misunderstanding is this. Let’s say we are talking about a difference in price between $300,000 and $310,000. A $10,000 difference in the price of a h

.

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

me means about $150 to an agent. On a $10,000 spread an agent does not care about the commission difference.

-Real Estate Agents are always late.

This is false. Agents need

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

Companies that provide selfless information through particip

to show their clients respect and that is earned by delivering what is promised and being on time. If your agent is not showing the respect that should be there, get another agent

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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