AgentNews Brief

Real estate agents would be well advised to learn Spanish

Half of first-time homebuyers are Hispanic, report says

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

Want more business? Try learning Spanish. Hispanics accounted for three-quarters of net growth in homeownership in 2016, and about half of first-time homebuyers belong to this group, according to an annual report released by the Hispanic Wealth Project. The number of Hispanic homeowner households swelled to 7.3 million in 2016 from 4.2 million in 2000, rising by 209,000 last year alone. And while the homeownership rate dipped to a 51-year low of 63.4 percent in 2016, Hispanics defied the trend for the second straight year. They posted a homeownership rate of 46 percent in 2016, up from 45.6 percent the previous year but still down from a peak of 49.7 percent in 2007. Yet Hispanics are apparently underserved by real estate agents. This all presents a clear opportunity for real estate professionals, according to the report, which was produced in collaboration with the National Association of Hispanic Real Estate Professionals. "eal estate and mortgage profession...