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Marketing to Hispanics in Cabarrus County NC

By
Real Estate Agent with Century 21 Cornerstone

According to the US Census Bureau there is an estimated population of 156,395 people living in Cabarrus County NC.  Of that population it is estimated that 7.6% are Hispanic.  Its a very small percentage but does come out to roughly 11866 people. That is still a good number of people who are just waiting to find out how their dreams to own a home can come true. 

From speaking with clients and personal friends there seems to be a mentality in the Hispanic community that home ownership is only for those with tons of money to spare.  I will admit even I was under this perception until we purchased our home.  So how do we get the word out there that home ownership is within their reach too?

Of course, the obvious answer is advertising.  There are usually lots of local Spanish speaking newspapers, magazines and publications that can have some great rates for ads and will gladly help you translate your ads.   This will usually help to cover a majority of Hispanics in our area since there are not any local Spanish tv channels. There are also a couple of Spanish speaking radio stations that are always willing to negotiate a deal.

Another great avenue I have found is actually getting involved with the community!  I do this not only to advertise but to help out my community.  There are many Spanish geared soccer leagues for kids as well as adults.  They are constantly looking for businesses to sponsor them in some way and are great at getting the word out.  Also there are lots of community centers in Cabarrus County that work in helping out kids and parents learn English and assimilate into the American culture while celebrating their own.  They are ALWAYS looking for people to help out in any way possible.  

One of the best avenues for responses for me has actually been passing out flyers in the Hispanic geared businesses.  I have gone up and down streets putting my flyers and business cards in all Hispanic meat markets, bakeries, restaurants and general stores.  The owners of the business are always very willing to allow you to leave your material and if you talk with them a little they will even help to sell YOUR business to THEIR customers.  

Whatever you do, it is great to realize that right now this is a big market.  Many Hispanics are willing to work with you if you can show them that you are serious in making their home ownership dreams come true.

Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
I agree with you that getting involved in the Spanish-speaking community will be the most effective way to break through.  Good luck with that... I bet you'll be great!
Sep 04, 2007 02:06 PM
Jessica Pineda
Century 21 Cornerstone - Kannapolis, NC
Thank you very much Margaret I appreciate the comment and the support!
Sep 07, 2007 02:28 AM
Jon "J.R." Finger
Fairway Independent Mortgage Corporation - Charlotte, NC

Jessica,

What percentage of your customers are you finding are in need of W-7 loan programs verses the percentage that have legitimate social security numbers? I speak Spanish and am often called in by realtors to translate when someone needs a loan who is Hispanic. Problem is that many times with the W-7 programs, it is very difficult to get someone through the entire process, approved, underwritten and funded.

Sep 15, 2007 02:26 PM
Cheryl Powell - The Powell Team
Southern Homes of The Carolinas - The Powell Team - Harrisburg, NC
Concord,Harrisburg & Charlotte NC Area Real Estate

Hello Jessica and welcome to the Active Rain Group, Cabarrus County North Carolina...The Racing Side of Charlotte!

Speaking Spanish is a great skill to have as a Realtor in the Charlotte Area market.  My husband speaks Spanish, but I don't... I sure do wish that I did!  Studies that I have seen show astronomical growth in Hispanic home buyers in the Charlotte Area real estate market.

I recently discovered that Self Help Credit Union does W7 loans if you need this alternative for any of your clients.  My contact there is Joi Smart, 704-409-5909.  They also offer many other unique programs for buyers who can't qualify for a traditional conforming loan.

Jan 16, 2008 07:19 AM
James Arias
Bilingual Marketing - Santa Rosa, CA

Muy bien Jessica !!

That's right, the Hispanic market is growing big time. There is a great lack of information available in Spanish about the home buying process and closing that gap is our responsibility. Jessica congratulations advertising in Spanish news papers, radio and local tiendas, restaurantes etc is a really good idea, as an advice, you can combine all of that with online advertising, On some statistics from Harvard they say that 78 % of the Latino community living in the USA use the internet, so having a website in Spanish or bilingual is a must!

Best regards

James Arias 

Jan 17, 2008 01:14 AM
Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

I recommend the following study commissioned by Esperanza and prepared by Notre Dame, Institute of Latino Studies: Promoting and Maintaining Household Ownership among Latino Immigrants, by Martha Argelia Martinez.

The W 7 Loans, also known as the ITIN Loans, are available to individuals that file their taxes using the ITIN (and the IRS Transcript has to concur with the original 1040); the borrower must also be receiving compensation via pay-stubs (self employment is possible, but extremely difficult with the ITIN community); they must have at least 3 alternative trade lines typically with zero lates in the last 12 months; and usually the qualifying income is based on current documented income.

These are just some of the basic requirements, but for more information on the ITIN Loans, click here or go to http://www.eliudgautier.com/itin.html

ITIN Real Estate Specialist

Jan 17, 2008 07:35 PM
Tim Winters
Sentext Solutions - Waxhaw, NC
Text Marketing Expert
Jessica, you made so many good points.  FYI- Top Producer 7i has over 650 real estate specific letters and emails already translated/converted for the Spanish-speaking community.
Jan 18, 2008 03:44 AM
Jessica Pineda
Century 21 Cornerstone - Kannapolis, NC

Thank you all so much for your comments!

Cheryl- Thank you for the tip on the self help credit union.  I had spoken to them about a year ago and had lost touch with my contact.  Thank you for bringing them back to mind!

Shawna-  I have learned that the hard way.  I usually ask all that before I even refer people to a mortgage lender because that way I can gauge their interest in actually buying a home.

James- You are so right.  Online is where its at right now!  My company is actually in the works of getting a new website and they plan on giving me a dedicated page in spanish!

Eliud- Thank you for those helpful tips!  Hopefully we can work together in the future!

Tim- Thank you for that information I will be sure to utilize it in my business! 

Jan 19, 2008 08:45 AM
Cheryl Powell - The Powell Team
Southern Homes of The Carolinas - The Powell Team - Harrisburg, NC
Concord,Harrisburg & Charlotte NC Area Real Estate
You're welcome Jessica.  Hopefully we will be able to do a cross sale in the future!
Jan 20, 2008 05:45 AM
Cheryl Powell - The Powell Team
Southern Homes of The Carolinas - The Powell Team - Harrisburg, NC
Concord,Harrisburg & Charlotte NC Area Real Estate

CONGRATULATIONS Jessica!  Your Post, "Marketing to Hispanics in Cabarrus County", has been added as a Featured Post in the Active Rain Group Cabarrus County North Carolina...The Racing Side of Charlotte. I hope you will post frequently to our Group.

 

Jan 30, 2008 04:07 PM
Charlotte Home Loans Your Charlotte Mortgage Lender
Charlotte, NC

This is a great post. I wold love to be able to tap into this market, but sadly I thought I'd be all cool and learn French in highschool! My son at 8 knows more Spanish than I could imagine.

In my experience there is a language barrier that is tough to get past. Any good ideas on how to overcome that, besides the obvious "learn spanish!"? My schedule does not permit that right now.

Jan 31, 2008 04:44 AM
Team Honeycutt
Allen Tate - Concord, NC

Thanks for this post. We have a great Latino Divison at the Allen Tate Co

Sep 24, 2008 04:37 AM
Josh David
Bridgeview Bank Mortgage - Tampa, FL
Purchase Specialist... www.joshdavid.us

Hi Jessica, yes the Latino market is becoming a presence here in Charlotte. MY family is Spanish, but because I was raised in teh midwest where there are hardly no Latinos, I do not speak spanish. I speak enough to get me by, but not near enough to conduct business.

This is my goal for 2009, to get my real estate license and also speak fluent Spanish!

Feliz Navidad & Feliz Ano Nuevo

JD

Dec 15, 2008 10:19 PM