The Hispanic population in the U.S. is currently the fastest-growing ethnicity in the country, as noted in a recent report published by the National Association of Hispanic Real Estate Professionals (NAHREP). What you may not have been aware of is that, according to the Pew Research Center, six out of 10 Hispanics are under the age of 35. Pew also reports that the number of young Latinos—35 million—increased 20 percent from a decade earlier, making it one of the largest and fastest-growing youth populations in the country.
As a relentless CENTURY 21® sales professional, I give 121 percent to knowing my markets better than anyone and leveraging these two important segments of the home-buying and -selling population in order to grow my business and expand my customer base in a big way—and yours, too, if you get it right.
I’m both a Latina and a millennial, and I sell over 200 homes per year. My customer base is 99 percent Hispanic. I can tell you from experience that Latinos aren’t swayed by markets and trends. The driving force behind the decision-making of most Hispanics is the American Dream of homeownership. Purchasing and investing in homes is known throughout the Hispanic community to be one of the most efficient ways to build wealth and enhance community. And 81 percent of Hispanics 35 and under born in the U.S. believe just as their parents did, that purchasing a home is a sound investment, resulting in Hispanics purchasing homes at a dizzying pace. Hispanics are transforming how our industry does business—and everyone is clamoring to figure out how to position themselves to get a piece of the pie.
The good news is that breaking into this market isn’t complicated. Here are a few tips to get you started with selling homes within the Hispanic community:
- Let go of the concept that you must speak Spanish to work with Hispanics. You don’t, but you do have to prove yourself to be a very hard-working agent.
- Be prepared. Explaining every detail of the process to multiple family members during the transaction is part of your job.
- Know your audience. In the Hispanic family, the woman is nearly always the final decision-maker when it comes to choosing which home to purchase. Take the time to understand her wants and needs, and include her in every step of the process.
- Be professional and relatable. To Hispanics, you’re either family, or you’re not. Make sure to acknowledge everyone at every meeting, and be prepared to be invited to family gatherings (and make sure to attend). Once you’re part of the family, you can rest assured that you’ve won their business, as well as a substantial number of referrals for years to come.
The buying and selling power of this key population is huge. To leverage this segment to grow your business, make sure to prepare and educate yourself on how to market to, and serve, this growing population of eager and loyal homebuyers and sellers. When we get it right, everyone wins.
Nora Aguirre is an agent and team leader with CENTURY 21 Americana. For more information, please visit www.century21.com/century-21-americana-571c.