RE/MAX Mi Casa Broker/Owner, Joe Castillo, offers these tips.
1. Join the National Association of Hispanic Real Estate Professionals (NAHREP). “They do a great job of helping individuals understand how best to work with Spanish-speaking clients,” Castillo says.
2. Consider yourself a credit coach. Many Hispanics value living debt-free and with cash only. Be prepared to educate clients on how to safely establish credit.
3. Expect unconventional funding. “Gift-funding and co-borrowers are also common, even if the person will not live in the home,” Castillo explains.
4. Embrace the whole family. “With certain Hispanic cultures, multiple generations might be included in the decision-making process for the home, whether they plan on living there or not,” Castillo says.
5. Have a long-term vision. Work on building client relationships and on giving back to the community over one-time transactions.