Actual - Real Estate

Our office has been flooded for the last few months with emails & calls about the new Foreclosure Mastery™ program. We must have struck a nerve with quite a few Agents who are looking for a new way to generate business in markets acros

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

s North America. The buzz surrounding this topic has been great and actually more than I expected. One thing we couldn't predict was exactly how much of a lack of information there was for Agents on Foreclosures.

So, if you'll share a

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

Examples of combination products may in

few minutes of your time with me today, I promise to add a little insight to your life on Foreclosures and how they can be a source of new leads for sellers that ultimately end as listings. Before I star

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

t, and end up generating even more emails and calls, please know that by no means is this short little email's intent to answer everything about Foreclosures. I will simply answer the most frequently asked questions that we've fielded

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

ver the last few months.

There are basically only three types of Foreclosures:
1) Pre-foreclosure
2) Foreclosure
3) Post-foreclosure (REO).

Pre-foreclosure

Pre-foreclosure describes property

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

Combination pro

in a state of default prior to the Foreclosure Auction. A property enters the Pre-foreclosure phase once the lender posts a notice of public record that the property owner is behind, and they intend to exercise their right to Foreclose

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

the property. The amount of time before auction varies from state-to-state but averages between 3 - 6 months.

So, a Pre-foreclosure is a property where the owner is behind on payments (usually at least a couple of payments), and the

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

ank has recorded official notice to the public that they will take back the property if the owner does not arrange for an alternative plan.

As you may wisely project, a homeowner in Pre-foreclosure can be a fairly motivated seller and

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

have a strong desire to sell once they understand (or decide) that selling is their best way out of trouble. An Agent skilled (or trained) in dealing with these types of sellers can get the property listed and sold before the auction

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

date.

Pre-foreclosures can be an excellent source of about 100-600 new leads per 100,000 households.

Foreclosure

You cannot do much with a home in this state. Typically, depending on the

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

rea and lender, 24 - 48 hours before the auction is too late. At that time, the home goes to the highest bidder at an auction, which is typically held at the county courthouse steps (location may vary depending on the area).

I won't g

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

Following aspects would a

o into too much detail now, but the Foreclosure tactics at the auction can be very fruitful for an Agent. As you can imagine, there are a plethora of Investors & Bank contacts that a wise Agent can take advantage of. All of which could

dd to the challenges in developing combination products:

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

lead to new business.

Although for the most part, once the home goes to auction, it's not a good source of seller leads... that is unless you can make contact with a bank or investor representative that may want to list with you once

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

they take possession of the home.

Post-foreclosure

A home in this phase is typically what Agents think of when they hear a property labeled as a Foreclosure. The bank has taken back the property from the

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

omeowner and now refers to the home as Real Estate Owned (REO for short).

Many Agents think these are a lost cause because there is often a local Agent who has positioned themselves to get the lion's-share of the REOs in any given are

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

a. This may or may not be true, and an Agent can re-position themselves so they can get a chance at these properties.

Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have establis

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

Professional from academic institutions, pharmaceutical industries, health care indust

hed relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.

Conclusion

So, for the most part, the best source of new leads from Foreclosure

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

can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market co

.

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

uld have even more.

Why hasn't this opportunity been made available before?

Well, before now, all the pieces were not readily available. Today, the technology is in place, the turnkey business-in-a-box-system is built, and the ma

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

Companies that provide selfless information through particip

rket for this business is very ripe & growing.

So, if you are tired of your competition and are interested in carving out a brand new niche for yourself that 99% of Agents don't know about, you can find out how by visiting our website

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.actual.org.ua/article/138526/actual-Real-Estate-Foreclosures--A-Real-Estate-Agents-Guide-Part-1.html">Real Estate Foreclosures - A Real Estate Agent's Guide Part 1</a>

BB link (for phorums):
[url=http://www.actual.org.ua/article/138526/actual-Real-Estate-Foreclosures--A-Real-Estate-Agents-Guide-Part-1.html]Real Estate Foreclosures - A Real Estate Agent's Guide Part 1[/url]

Most people incorrectly believe that making money online only involves putting up a website selling a product or service, and then promoting it. In reality, if people figure out you're only in business to make money out of them, they will NOT buy your products.

So you have never taken out a loan? You don’t have a credit card and you don’t have a mortgage? You always pay cash? You’re a student, a recent widow, a divorcee or from an ethnic minority group who have a tendency not to have any lines of credit? If you are any of the above then your credit score will not necessarily reflect your ability to pay as you have little or no credit history whatsoever. This will make it difficult to obtain any form of loan and in these circumstances you may have to take out a bad credit loan. How prevalent is this?

Tags

Links

Actual - Real Estate Foreclosures - A Real Estate Agent's Guide Part 1

Related Articles: