Actual - Real Estate

Here's a question that is often asked:

How and when do I get Realtors/Agents involved in my For Sale by Owner (FSBO) marketing p

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

rogram without them thinking I'm denying or stealing their listings? I don't want to alienate them.

Here's my answer:

You're ab

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

Examples of combination products may in

solutely right! You don't want to offend anyone, especially the Realtors/Agents that are farming in the same area that you are. 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.

accomplish this, you need to develop and enhance some relationships early in your marketing program.

First, do a little researc

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

h and choose the real estate professional(s) in your farming area that do the majority of the listing business. Take a look at Re

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

Combination pro

ltor/Agent "For Sale Signs" and keep a tally of the agent names you see.

Your first approach should be to the agent(s) with the

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

highest sign count. They are "Listing Agents" and this is exactly what you are looking for. Many of them don't sit "Open Houses,"

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

or other associated functions. Instead they spend all of their time "Listing" properties. They are very happy to let other agent

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

show the property and sell it, knowing they will receive their fair share of the commission for the listing.

Second, when you h

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

ave narrowed down your agent list and made your choices, send each of them a letter introducing yourself and suggesting a meeting

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

to review your program.

At a minimum, your letter should address the following points:

1. Odds suggest FSBOs will not sell thei

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

Following aspects would a

r home without the assistance of a Real Estate Professional.

2. As a part of your marketing efforts to FSBOs you would like to i

dd to the challenges in developing combination products:

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

nclude information about them and the services they provide to the FSBO. That way we are in a position to take the listing when t

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

e FSBO realizes they are better off letting a pro sell their home.

3. If the (the Realtor/Agent) finds a homeowner who elects to

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

market their home by themselves, they will refer you and the services that you provide.

4. A reminder you will be contacting th

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

m in the next couple of days to arrange a meeting to review this concept and how both of you can benefit, and

5. By working toge

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

Professional from academic institutions, pharmaceutical industries, health care indust

ther you can achieve so much more than working as individuals.

Third, follow-up each letter with a phone call and set the appoin

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

tment to review your FSBO marketing program. Prepare and practice your presentation. Be sure to cover the benefits to the Realtor

.

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

Agent. There are many.

By establishing and cultivating this relationship with Realtors/Agents you are effectively doubling your

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

Companies that provide selfless information through particip

marketing efforts and maximizing your business. And all it takes is a good FSBO Marketing Kit, some planning and, a little effort

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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