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Actual - Real Estate Secrets Revealed: Make the Most of Your Home Buying Experience
When Christy Corder -- a first time home buyer just out of law school -- decided to buy a home, she wanted to get the best deal possible, but was too busy studying for the bar exam to do all the work herself. She didn't have the
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
time to "shop around" with a dozen different Realtors - most of whom were incompetent anyway.
In a competitive market where there are practically more people with a real estate license than with a driver's license, Christy real
In a competitive market where there are practically more people with a real estate license than with a driver's license, Christy real
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
zed that agents will do anything to get a customer's business... ANYTHING! To capitalize on that fact, she developed a plan she could use on any real estate agent, in any market, and not only got them to bend over backwards for
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
er, but she was assured that she would receive a nice chunk of that agent's check at closing if all of her requirements weren't met.
Some of the tactics Christy used are as follows:
Quickly separate the winners from the lose
Some of the tactics Christy used are as follows:
Quickly separate the winners from the lose
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
s.
Due to the fact that most agents couldn't negotiate their way out of a paper bag, Christy needed a way to quickly identify the best agents who could get her the best deal on her home from the rest of the crowd. That way,
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
he didn't end up finding a home with an agent she might not want negotiating on her behalf.
Christy had a couple agents in mind, but rather than wasting time looking at a bunch of homes with each of them, she decided to construc
Christy had a couple agents in mind, but rather than wasting time looking at a bunch of homes with each of them, she decided to construc
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
t an interview for each of those agents. After her interview, she would either identify an agent worth working with, or look around some more. Either way, she wasn't going to waste a minute of her time looking at homes with an
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
ncompetent agent.
Guarantee they are going to be the ones doing all of the work. In an earlier attempt to find a home, Christy found more homes she wanted to see on her own than the agent she was working with found. She
Guarantee they are going to be the ones doing all of the work. In an earlier attempt to find a home, Christy found more homes she wanted to see on her own than the agent she was working with found. She
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
didn't have the time to do all of her agent's work, and knew that her agent SHOULD be able to find everything she was finding. However, typical commission structures give no incentive (or disincentive) for agents to do that work
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
Christy changed that by making her agent agree up front that she would be compensated fairly out of the agent's commission if she found the house herself. As a result, not only did her agent search the MLS several times a day,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
but he went above and beyond the call of duty to find other homes not in the MLS -- and he found them before 95% of other Realtors found them!
Keep them on their toes with a "cancel anytime clause". Any agent who wanted
Keep them on their toes with a "cancel anytime clause". Any agent who wanted
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
Christy to sign an agreement committing her to use them for the next 6 to 12 months just wasn't going to cut it since most agents sit back and relax as soon as they get a buyer to sign any such contract. Once Christy found that
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
er agent "passed the test", she told him she would sign a 12 month contract, but reserved the right to cancel her contract with that agent at any time - for any reason. That way, if the agent got too busy for her, wasn't finding
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
enough homes for her to look at, or turned out not to be as competent as he initially appeared to be, she could get rid of him.
Force them to stop selling homes as if they were used car salespeople. Nothing irritated Chr
Force them to stop selling homes as if they were used car salespeople. Nothing irritated Chr
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
sty more than agents who kept pointing out the obvious with each home -- as if she were blind and didn't notice that the home had vaulted ceilings, or which bedroom was the master bedroom! Christy felt that an agent's job
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
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
isn't to show off the painfully obvious positive features of every home they see -- but instead to watch out for her interests and find out everything WRONG with that home. She developed a condition which any real estate agent w
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ho wanted to work with her had to agree to -- up front. That condition essentially guaranteed her agent would never waste her time with "used car sales" tactics, and instead act as her advocate -- making sure she doesn't buy a h
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
me that she won't be 100 percent satisfied with after her purchase.
All of the agent's work will cost her nothing, and on top of that, if desired, she could make money from her agent. Considering she was just out of scho
All of the agent's work will cost her nothing, and on top of that, if desired, she could make money from her agent. Considering she was just out of scho
.
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
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
l, Christy didn't have much at all in savings, and she wanted all of that to go towards buying her house and furnishing it. The last condition Christy required of her agent was that she didn't pay him a dime out of her pocket.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
n fact, she devised a very interesting plan that leveraged her contacts with the community to make money with her agent instead of ever having to pay a dime in steep commissions if she wanted to work with that agent in the future
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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