Actual - Real Estate

Excerpted from Sell with Soul: The New Agent’s Guide to an Extraordinary Career in Real Estate
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
i>

As part of the research for my book, Sell with Soul, I read several “How to Succeed in 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
al Estate” books. I found that I disagreed with much of the advice I found, especially the advice t
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

“work regular hours.” As in, don’t take calls after 6 p.m., don’t work seven days a week, don’t dr
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
op everything to meet your client in 15 minutes.

Okay, sure, follow that advice if you have plenty
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro
of money, plenty of experience and no enthusiasm for your career. Are you telling me that you aren’
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
dying for the phone to ring? If you aren’t, you may be in the wrong business.

As a rookie agent,
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
you probably aren’t all that busy. At least, you aren’t busy doing activities that are bringing in
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
paycheck in the next 30 days. When the phone rings and a prospect wants something from you, you be
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
ter respond.

One Sunday evening early in my career I was putting dinner on the table for my husban
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
and his parents. My cell phone rang. I love my job, so it didn’t occur to me not to answer it. Tur
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
ns out it was a buyer I had worked with six months earlier who hadn’t bought anything. She and her
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
usband were open housing that afternoon and stumbled upon a home they had to have. And, God bless ’
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
m, they called me! If I hadn’t answered the phone, their next call would have been to the agent hol
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ding the open house and I never would have known.

I dropped everything, wrote up the offer, and ma
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
e $7,000 because I answered the phone. This happens, a lot. If your lifestyle doesn’t allow you to
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
e this responsive, maybe now isn’t the time for you to go into real estate. However, when you’re re
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
al successful, several years down the line, you may decide your personal life can’t take being on c
.

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
ll 24/7. At that point, it may be acceptable to forego a $7,000 commission, but in the beginning, I
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
assume it would break your heart to miss a call like this.

Do you get excited when the phone rings

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 - The $7,000 Phone Call

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