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Update from NAR - Thursday -- Hispanic Markets

By
Real Estate Agent with Re/Max Boone Realty

Today's favorite speaker was Brenda who spoke about the Hispanic Market.  Do you know that 40% of baby boomers are in the Hispanic Segment.  That is HUGE! 

Do you need to speak Spanish or be of Hispanic origin to target this segment?  NO!  provide them with what they want and need and they will be your clients for LIFE.  Better yet, they will refer their friends to you!

An overview in General.  Those people age 30-87 want information provided to them.  The older crowd need you to walk (talk) them through the information, the mid set want you to provide them with paperwork detailing the process, and the younger of the set want you to confirm for them what they already know from the research they have actually already done. 

The crowd younger than this ---- they probably know more than you do, but if you can meet their needs first and fast they will move quickly. 

This market in general is the fastest growing segment of our market.  They are highly educated, have disposable income, and spend their money on what they truely want!  Having done transactions with the same Hispanic family 3 times in the last 2 years this is certainly a segment of the population that is great to work with.  I can say that my Hispanic clients have become some of my closest friends, are great to work with and help provide meaning for this career.

 

Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!
April- We work in a large Hispanic market as is most obvious with anyone who knows Florida. I think it is great to talk about markets, but then we need to talk about ALL markets, not just Hispanic ones. How can the NAR who uphold the fair housing laws and agree not to steer talk about Hispanic markets? Where is the line on which the feds say this is a fair housing issue and this is not? Can we then talk about Caucasion markets, Black Markets, Asian Markets? Or do we get to talk about them but then not ALLOWED to tell anyone where they live, what neighborhood they are buying in? Katerina
Nov 15, 2007 03:33 PM
April Ferrao
Re/Max Boone Realty - Columbia, MO

Katerina,

 

I don't know where the line is exactly.  I simply wanted to share the great speaker that I had been exposed to.  Had I had an opporunity to attend the Secrets of Selling to Multicultural Clients I would have spoken about that.  What is boils down to is understanding the market, understanding their needs, and how to reach that market.  The way I may market to someone under 25 would be significantly different than the way I would market to someone over 65, because their needs are different.  It doesn't have anything to do with fair housing, it's about getting the message out that I can assist them with their housing needs, no matter their age, origin, color, creed, etc is.  Everyone can receive the exact same marketing campaign, but different segments and different people will receive it differently so it needs to be customized to fit that segment.  This class was about communication and marketing and what works best for different folks. 

I could be wrong, but I assume NAR is not concerned that this would raise any fair housing issues or they would not offer such great speakers to discuss different marketing strategies for different segments of the population.  If the discussion of such is a violation of fair housing, then NAR should serious reconsider several of the speaker options offered at the Convention for next year.  Perhaps they should do away with the CIPS designation as well, since a lot of that deals with marketing and targeting different segements of people.

Nov 15, 2007 03:56 PM