Actual - Real Estate

Why real estate agents are adding things like "value estimating buttons" to their web pages.

For a short time, some of the large “display” and “lead generation” real estate sites have tried to reduce valuing a home to a programmers equa

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

tion. The surfer enters an address or some other identifying data, and voila! - a value appears. Unfortunately the value is often very incorrect. So, why are real estate agents adding “Value Estimator” buttons to their pages?

The add

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

Examples of combination products may in

tion of this type of "resource" to agent web pages is inevitable. As technology evolves and as agents learn more about how to use technology and as they learn more about how to provide information to the surfing public, they will make c

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

hanges to their own web pages that will encourage surfers to visit. The move from the large real estate site has already begun. In April of 2007, the Northwest MLS and its 27,000 member real estate licensees will stop feeding their lis

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

ings to sites like Realtor dot Com.

Agents are learning how to make their pages more effective by optimizing for search engines, advertising their domains, and by providing better local content than the conglomerates. "Value Estimate"

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

Combination pro

uttons are a current example of these lessons learned. An “estimating formula” can be put on any web page for a “generic” valuation. It incorporates, assessment (each town can be near or far from market value), recent sales, recent sal

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

e to list price, days on the market, etc. The value is different for each town (and each agent) because the variables are different and are valued differently by agents.

Most agents and brokers have a similar formula in mind when they

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

peak in general terms about a property. Because they are in their market on a daily basis, they can easily modify the weight that the variables have on their formula. Some of the variables they consider are list to sell percentage, day

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

s on the market, and assessed value when it is current. When the larger conglomerate sites started putting "Instant Value" estimates on their pages, agents and brokers looked for a way to provide a similar estimation equation.

Whether

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

they use one they have developed themselves or use one of the free ones that are available, agents and brokers are adopting the technology that surfers are looking for. The struggle for most of the larger sites is, that evolving techno

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

ogy is available to everyone, and even the smallest companies often have very useful and informative local websites.

Many surfers are also starting to appreciate the ability of a local web page to provide much more relevant and current

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

Following aspects would a

local information about listings, taxes, schools, and businesses. Although many people use real estate as an excuse to surf the net, real estate has become one of the items consumers expect to be able to research when they get serious a

dd to the challenges in developing combination products:

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

out buying or selling. Agents and brokers are quickly providing new information and improving their sites in order to make themselves more useful to consumers. Many brokers and agents often surf other company pages for technology ideas

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

as well as "pocket listings".

Because real estate will always be a "one-off" purchase item, mathematical equations or computer programs will never produce a very accurate value. Market conditions, property conditions, location, social

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

prejudice or preference, and many other variables make correctly valuing a property more than math. Equations are only as good as their variables - ask any economist, statistician, or pollster. And everyone knows (even if they don't ad

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

it it) that there are unseen preferences for location that are only understood by humans.

But, the surfing public likes to see things like the "Instant Value Estimator" button on a site, so agents and brokers are adding them. For every

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

Professional from academic institutions, pharmaceutical industries, health care indust

value that is near the target price of a home, there are many times that many values which are completely incorrect, and until computers become intuitive, most intelligent consumers will consult a human that knows the values in their to

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

n better than the button. As long as the "Value Buttons" aren't taken too seriously, they can be fun to use.

There are many other unique things on local agent pages that help consumers. Things like Lava Flow Maps, Pollution Reports, o

.

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

r explanations of the difference in a Septic versus a Sewer system are a few examples. Local real estate pages are usually the best source for real estate information, and agents are working hard to improve them for consumers.

So have

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

Companies that provide selfless information through particip

un with the button. And don't worry when thousands of agents and brokers pull out of the big sites. It is a natural evolution of the Internet, because agents are able to provide better resources on their own pages for consumers locally

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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