Spanish-speaking homebuyers comprise one of the fastest-growing, yet underserved markets, in the U.S.
Last year alone, Hispanic households grew by 320,000, and Hispanics accounted for 40% of all U.S. household growth.
According to the Urban Institute, Hispanics will account for 55.5% of new homeowners from 2010 to 2020.
Spanish is the most spoken non-English language in U.S. homes: 37.6 million persons ages 5 years and older speak Spanish at home, according to the Pew Research Center.
The potential of this market is striking, since just 46% Hispanics currently own their own homes, reports the National Association of Hispanic Real Estate Professionals (NAHREB).
Future growth projections are staggering: Demographic projections indicate that the U.S. Hispanic population will reach nearly 120 million by 2050, a 592% increase since 1970, NAHREB reports.
The desire to buy is also there: As Gerardo “Jerry” Ascencio, chairman of the NAHREP Foundation and broker-owner of San Fernando Realty poignantly has said, “Nobody in the Hispanic community dreams and aspires to be a tenant.”
New Bilingual Automation Technology for MLS data
Imagine your virtual tours, website, curbside marketing efforts and rental inquiries all featuring the ability to present MLS data in a perfect sentence-structure… even in Spanish. This is not the conversion of your web text into Spanish text. That’s older technology. This technology has a name; and her name is “Eve”.
“Eve” generally is used to answer the phones for a real estate brokerage or team by routing calls, providing automated information on properties and generating curbside leads. She also narrates virtual tours and YouTube property videos without the need for expensive voice talent. YouTube can translate “Eve’s” English narration into 60+ languages.
Eve is intelligent enough to automatically route Spanish-speaking inquiries to Spanish-speaking agents. This technology takes the language barrier “off the table” and allows “English-only” agents to participate in Spanish-speaking lead generation efforts. More importantly, Eve can call many agents simultaneously to assure that an agent is available to accept the call; versus sending potential clients to an agent’s voicemail.
Granted, many if not most Spanish-speaking buyers prefer to work with someone who speaks Spanish, but without a process to assist these buyers, you lose the potential to refer this lead to someone on your team or in your office who does speak Spanish, or worse, to another company.
From licensed MLS data, Eve currently updates approximately 3 million properties in both English and Castilian Spanish about every 120 minutes. We’d like to show you what your listing data sounds like when it’s converted to an audio format. More importantly, we’d like to show you how it can be applied in your business.
Don’t let language skills be a barrier to generate business from one of America’s fastest growing home buying markets, even if you don’t “Habla Español.”
A sample (best viewed on a mobile device) is located here: http://42y.us/pjUE