Actual - Real Estate

The transitioning market has been difficult for many real estate agents, add the annual third-quarter slowing, and it’s time to rethink how you approach post-boom home buyer and seller leads. The first item you need to r

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

e-invent is how you handle and market to leads that you used to give sixty days to and then optioned your kick-out clause, much like home-sale kick-out contingencies in real estate contracts. Consumers today are looking

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

Examples of combination products may in

or an agent that has more on their mind than the clients commission check in the bank in the next couple of months.

An experienced eighteen-year agent recently came to me for consultation. After the headiness of the hot

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

sellers market, she bottomed out, business-wise. She didn’t even know what hit her, the last four years she pumped out closed transactions. In 2006,she has closed next to nothing through the first half of the year. This

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

tory is the marketing story of the year being repeated with many more experienced and new agents, in many markets.

What happened? Number one is that many agents in the gravy days didn’t have time to market, didn’t think

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

Combination pro

they had to market, or didn’t want to market their real estate practice. Order-taking real estate contracts worked just fine, and yes they proudly admit they never showed more than seven homes to any buyer. Second, the I

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

ternet grew as the first point of entry for the majority of home buyers and sellers to find relevant home information before selecting a real estate agent or brokerage. If you thought the Internet was going to go away be

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

ore the boom years and decided to put off having a presence on it during the boom years, you need marketing intensive care, ASAP.

The prescription is; reconsider that today’s real estate consumers are looking for local

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

arket information from a real estate resource, not a salesperson. You must be in the path of the consumer when they are looking for information. The path has grown to include many forms of technology; the appetite for in

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

ormation is 24/7. Consumers might not be consuming today, but industry statistics show they move every five-point-seven years, plus if you’re a resource they might know someone who is looking sooner than they are, a two-

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

or-one.

It’s easy to get in the path of today’s real estate consumer, go where they are. But you have to know who your consumer is. Put aside your old habit of thinking everyone is your consumer. Focus on a specific seg

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

Following aspects would a

ent, multi-family buyers and sellers, first-time buyers, relocation. Once you focus it will be easier to formulate a marketing plan. For instance, you decide to focus on first-time buyers. They are more likely to be larg

dd to the challenges in developing combination products:

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

technology adopters as a demographic, than empty nesters, who still make up the largest base of newspaper readers. In addition to a web site to get in their path, you need to consider blogging and pod-casting local real

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

estate tips and trends. Don’t forget the drip email, they love the follow up news and information. Use print and direct mail to announce big events that they can access from their PDA’s or I Pod’s. Have a website, and a

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

alue-added one that offers MLS access, neighborhood comparables, and mapping. Content is king, so the more local and deeper the information, the better.

Relationship selling is what all the big consumer product companie

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

do. They find a target audience and reinforce their resource to them on an ongoing basis, knowing they will consume at a point in time. This is contrary to the I-need-a-deal-today habit of real estate agents. When you n

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

Professional from academic institutions, pharmaceutical industries, health care indust

ed a deal today, you’re not a resource you’re selling, and today’s savvy real estate consumers will sell themselves, they look to you to be a resource to their selling or buying decision. Find ways to develop deeper busi

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

ess relationships with your current and past clients through sending small denomination gift cards in place of refrigerator magnets and calendars this holiday season. Don’t forget the new post-boom real estate consumers

.

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

hink it’s all about them, and they’re right.

The rising inventories and scary media headlines have slowed buyers and have greater anxiety in sellers. Buyers take longer to commit and sellers need to price-right. Your co

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

Companies that provide selfless information through particip

soling skills should be well honed today, because your clients look for it as one of your resources. Order taking, sixty-day client buy, sell or good-bye, invisible agent marketing, spell doom for agents in 2007 and 2007

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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Mortgage early payoff offers are popping up everywhere. Are they all the same? How do you go about comparing them? Most importantly, read these three warnings before spending much time, let alone money, on any of them.

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