A Growing Hispanic Population and How Real Estate Agents Can Meet the Need

The Latinx market is all about growth, says Gary Acosta. And it’s all about business, too.

“These are folks who are passionate about the American dream. And they will be loyal to your agents and your brokers forever and a day,” the co-founder and CEO of the National Association of Hispanic Real Estate Professionals (NAHREP) told the “Good Morning RE/MAX” audience.

Speaking to all real estate agents but specifically to those interested in growth, Acosta advised against discounting the Latinx sector. They’re driving growth in all areas of the U.S., he said, not just in the more traditional markets of California and Texas but in the South, the Midwest and the Northeast.

“Hispanics are the youngest segment of our population, very entrepreneurial, have the largest workforce participation and are really driving growth in our economy, especially in the housing sector,” he said.

In fact, 50% of the growth in the homeownership space is attributed to the Latinx community, he said. Because of that – and that roughly a quarter of transactions with Latinx homebuyers are conducted in Spanish – NAHREP publishes an English-Spanish Glossary of Real Estate Terms, sponsored by RE/MAX.

NAHREP also produces the State of Hispanic Ownership report, which includes trends, nuances and an overview of the Latinx marketplace, as well as the State of Hispanic Wealth, which delves into how Latinxs view and approach homeownership.

National Hispanic Heritage Month, September 15-October 15, is the perfect time to discover new resources to help in serving this population.

“Obviously, our industry needs the professional apparatus that exists out there to help guide people through the homeownership process. It’s a very complicated process,” Acosta said. “If you’re somebody that’s maybe new to the country or doesn’t speak the language, then it is even all the more intimidating and challenging.

“Real estate professionals who have good skill sets, who understand maybe the nuances of various communities like the Hispanic community are an incredible resource in helping to facilitate the ambition and the drive for homeownership that we have in this country.”