The Hispanic population is steadily increasing and is the largest minority group in the US. There are many realtors that specialize in working with the Latino population. If your not one of them, now would be an excellent time to join them.
- Do you speak Spanish?
- Do you have someone on your team that speaks Spanish?
- Do you work with other Spanish speaking professionals (title companies, home inspectors, etc.)?
If you're not fluent in the language, don't despair. With a winning personality and strong dedication you can still be successful. Consider hiring other Spanish speaking team members or agents. They can be in charge of translating the basics of the contract and answering any questions you might not be able to understand. Don't rely on the client's children to translate for you! The home buying/selling process includes terminology that they don't understand and have never used before (I know, from personal experience).
Develop a list of Spanish speaking professionals that work with the home buying process; mortgage processors, title companies, home inspectors, and anyone else you regularly do business with. Start with a search on ActiveRain, see who is in your area that speaks Spanish, or ask other people for referrals.
When choosing their real estate agent MOST Latinos will ask their friends and family for a contact name. What does this mean to you? You want them to refer your name! Make sure that you implement a sound marketing plan for your Hispanic clients. Keep in touch with them at least twice a year. A simple phone call on their house purchase anniversary date, a card or small gift for a special event (such as a birthday or Quinceañera*), are simple and very affordable ways to make sure they don't forget you!
Like most Hispanics, if they liked buying their home through you, they will refer you to everyone they know!
* Quinceañera- the Latino's coming of age celebration for young women. This event happens on their 15th birthday. It is a very important date with a huge celebration, almost like a mini wedding (the young lady will have a "partner" and wear a white or pink dress, there will be other "partner couples", etc...) You should definitely find out if your clients have any young daughters under the age of 15! When you send a small gift on this special date, they will ALWAYS remember you. Contact me if you would like some simple gift ideas!
(This is a series of blogs that I will be posting about the Hispanic real estate niche.)
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