Right now, you are probably missing out on the most significant opportunity in real estate.
Did you know that the Urban Institute predicts that between 2020 to 2040, 70 percent of new homeowners will be Hispanic? (This is an estimated 4.8 million new homeowners). Moreover, despite the pandemic challenges and inventory shortages, the Hispanic demographic was the only group to increase their homeownership rate over the past six years (2014 to 2020). The 2020 Hispanic rate of homeownership was 49 percent.
If you serve the Hispanic market, you are positioned for unparalleled success as the market grows. But unfortunately, there are not enough Spanish-speaking or bilingual agents to satisfy the growing demand. In the video below, Flavio Jimenez, Fathom Realty’s Vice President for Business Development, Hispanic Markets, explains how you can tap into this market and keep your pipeline full.
Understanding how the Hispanic market differs from other sectors is crucial. Most agents hope to have one or two transactions with a client — they sell or buy, and that is it. However, the smart agents who understand the Hispanic homebuyer will see the opportunity to develop long-term relationships and help their clients become investors.
If you are bilingual or speak Spanish, don’t wait to engage with the Hispanic market. In fact, it’s time more agents treat the Hispanic community with dignity and respect, representing them transparently and honestly, understanding their culture, and understanding their values.
Learn more about tapping into the potential of the Hispanic market here.
¹“2020 State of Hispanic Homeownership Report,” National Association of Hispanic Real Estate Professionals. https://nahrep.org/downloads/2020-state-of-hispanic-homeownership-report.pdf