Hispanic homeownership is expected to explode over the next two decades, and the California Association of REALTORS® (C.A.R.) is launching a Spanish-language advertising campaign to educate first-time homebuyers about the home-buying process.
“More than 25% of Hispanic consumers who rent in California can afford to buy a home,” said C.A.R. President Dave Walsh. “We want to empower them with knowledge about qualifying, shopping and closing on a home. We’ve learned through our research that they’re concerned about affordability and saving for down payments. But, they’re young and ambitious and ready to make their move, and we want them to know REALTORS® can provide valuable guidance on all aspects of the homebuying journey.”
C.A.R.’s research found that four out of five Hispanic consumers surveyed are interested in buying a home but aren’t aware they can qualify. Price, neighborhood safety, and the size and number of bedrooms were the biggest factors driving homebuying decisions. Millennials and young Gen-Xers had the greatest interest in buying.
“We learned that 85% of Hispanic homebuyers saw owning a home as part of the American dream,” Walsh said. “They want a home large enough to accommodate their families, and they want to work with a REALTOR® who is bilingual, culturally knowledgeable, and can educate them about the homebuying process.”
The campaign will feature digital banner ads, paid social media, and radio spots in Spanish and English. Consumers can explore www.BringYourFamilyHome.com and www.guiandoteacasa.com, new English and Spanish-language educational websites, promoting financial literacy, the importance of credit scores, steps in the homebuying process, and how to contact a REALTOR®.
“Hispanic homebuyers are tech-savvy, starting their home-buying journey online but desire support later in the process as they look for guidance in financing and closing,” Walsh said. “REALTORS® are especially skilled and knowledgeable to assist every step of the way to make that dream of homeownership a reality and close the homeownership gap for the Hispanic community.”
About the California Association of REALTORS®
Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R is headquartered in Los Angeles.