Understanding Hispanics in your Market

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Real Estate Agent 10301214054

Understanding Hispanics in your Market

Who are Hispanics?

Hispanics are members of a very diverse group in terms of socioeconomic positions, religions, racial classifications, and national origins.

Consequently to better understand Hispanics in your Market, you must understand that this is not an easily identified racial group. Using Census terms, Hispanics race can be white, black, Asian,Arabic, National Islander, or any other combination of races. Origin can be viewed as the nationality group, lineage, or country of birth of a person or person's parents or ancestors before their arrival in the United States. People who identify their origin as Spanish, Hispanic, or Latino may be of any race.  

Characteristics of Hispanics in your Market   

What Constitutes the Hispanic Market?

The Romans named the Iberian Peninsula Hispania, and from there the name of the modern nation of Spain derived. Hispanics in in the United States, therefore, are all those who are descendants from countries conquered or dominated by Spain. These people who trace their origins of the following countries:

Agentina

Bolivia

Colombia

Cuba

Dominican Republic

Ecuador 

El Salvador 

Guatemala

Honduras

Mexico

Nicaragua

Panama

Peru

Paraguay

Uruguay

Venezuela

Of course this includes the people of Puerto Rico and Spain as well. Brazil usually ar not included because of linguistic identity,that is Portuguese language. Nevertheless, Brazilians share backgrounds that characterizes Hispanic countries.

Understanding Socioeconomic Trends

When planning to market services to Hispanic communities it is important to understand the difference between the different socioeconomic backgrounds of the population denominated Hispanic. Those that trace their origins to the elites of Latin America are very different from those who were the working classes in their countries of origin. These are much different from the middle class who immigrated to the United States.

The Elite - Most likely not considered by the Census Bureau

This is a small number, some of them are afraid to live in their countries because of concern of their own security. Others have their primary home in the US, travel back and forth to their countries and live a very affluent life.

 

The Middle Class

The middle classes in Latin America strongly attach to their societies. The do not easily immigrate to the US because they leave behind status, prestige, credentials, licenses, an so on. Most of the time these are professionals that have come to the US due to a government or economic crisis of their country of origin. Those who stay in the US do extremely well. They do well because they had a head start in their country.

 

The Working Class Mass

The working class is the bulk in the US Hispanic consumer. This is the large contingent characterized by those who come to the US, many illegally, to find a better standard of life. These individuals had very little, or nothing to lose. They came to the country for survival, not luxury. Many times the younger members of the family come to live the  American dream ans send money home, after many years and much .hardship decide to send for their families.

The reality is that these consumers start with little consumer knowledge and evolve into the US consumer society. This segment is where we have a large potential to sell our services. 

 

Well I hope this helps you Understanding Hispanics in your Market, and will allow you to provide a better service to the largest growing minority population in the US.

 

Now ques where is my national origin? If you have any questions please contact me

 

                                                          

 

Posted by

 

The DeVargas TeamMeet Sandra DeVargas

Sandra’s specializes in Luxury, Investment, and Commercial properties in the Western New Your area.


Acting with uncompromising passion and integrity, Sandra’s high level of engagement in the business and real estate communities keeps her finger on the pulse of what is happening in real time, giving you the advantage.


Sandra’s knowledge in business development on an international basis covers the United States, the Caribbean, Central America and South America. Sandra and her team have been able to assist many national and international companies as well as individuals, with all their relocation needs. While serving as Corporate Relations Officer at a real estate company for several years, Sandra developed and built strong relationships with Sandra DeVargascorporations, clients and agents in the Western New York area. Sandra has a two decades of with strategic international marketing for manufacturing and service industries. She has worked as an advisor and consultant for the Government of the Republic of Colombia South America. She is fluent in Spanish and English.  Sandra has a BS in Architecture and a Master’s degree in Planning and Administration of Regional Development. Sandra has achieved the coveted Realtor designation of Certified International Property Specialist (CIPS) and is a member of the Global Property Specialist (GPS) network through Keller Williams Realty International. Because of Sandra’s experience and bicultural business knowledge, she brings a unique skill set to help individuals and businesses relocate to and from Western New Your

Comments (5)

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Sandra:  Very valuable information you offer here.  Thank you.  The Hispanic Community in my Will County/Joliet area is a vibrant and quickly growing community.  And very diverse.  The need for mortgage services has grown dramatically as a result.  I am currently in the process of trying to find a bilingual loan officer to work in tandem with me to better serve my Hispanic Borrowers.  I feel it will better serve them, but also help in making them more comfortable and relaxed throughout the mortgage process.  It's something that I have felt lacking in my own capabilities to serve in an exemplary way and an issue that I need to address. 

Your post helps me better understand ... and that helps me be a better Mortgage Lender when extending services to this important community and receiving referrals from my referral partners.  I appreciate that greatly ...  

Gene

Jun 08, 2013 02:26 AM
Sandra DeVargas
Buffalo, NY
The DEVARGAS Team at Keller Williams Realty

Dear Gene:

 

I understand your challenge, I also provide real estate services to the Buffalo/Niagara Hispanic community. The Hispanic consumer is very loyal, once you have gained their trust, through professionalism and cultural sensitivity; they will be your clients FOR LIFE, and refer all family and Friends. I encourage you to invest in printed information, marketing and a bilingual/bi cultural loan officer.

Sandra DeVargas

 

 

Jun 08, 2013 03:04 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Sandra - Thank you for the very good information about understanding Hispanics in your market.

Jun 08, 2013 05:45 AM
Brian Schulte
Allison James Estates & Homes - Sierra Vista, AZ
SFR, Sierra Vista, AZ

Is not the study of one group the learning of all. We are all humans and should keep smilin'

Jun 08, 2013 02:43 PM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Sandra:  Thank you so much for writing back to me in such depth and with such great info.  I too have found what you say to be very true.  My Hispanic clients have been a joy to work with.  I do look forward to working with a new bilingual officer in the very near future.  I think they will bring much to New Lenox/Will County office and be extremely beneficial to our clients ...

I hope you will send any respected contacts my way, should you run into an IL licensed bilingual LO in my area.  Your referral would mean alot ...

Gene

Jun 10, 2013 01:02 AM

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