By: Dr. Lee Davenport
Hispanic Heritage Month runs from September 15 through October 15 this year. The Latino community plays a huge role in the real estate world—on the business and the client side—and deserves its recognition.
In a new episode of the Atlanta REALTORS® Rundown, guest host Manny Recinos interviews the National Association of Hispanic Real Estate Professionals (NAHREP) Past President, Theresa Palacios, who chronicles her journey into real estate.
The daughter of Hispanic immigrants, Palacios says that as a child, she was the only member of her family who spoke English at the time. Her father sat her down one day and explained that the family wanted to purchase their first home. He enlisted Palacios’ help, asking her to translate between the family and the real estate as they went through the home-buying process.
Palacios remembers the day she and her family walked into their first home and said that at that moment, she understood the power of homeownership. Though she may not have known it at the time, thus began her journey into real estate.
A member of the Atlanta REALTORS® Association for the past 20 years, Palacios knows the business inside and out and is an integral part of the association. In this podcast episode, she talks about the vital role the Latino community plays in real estate, and she highlights the many ways in which NAHREP supports real estate professionals of Hispanic Heritage.
Listen to the full podcast episode here:
Important Facts About the Latino Community in Real Estate
At the height of the pandemic in 2020, Realogy celebrated the vast accomplishments and influence the Latino community has on real estate. Some key facts include:
- As a group, the Hispanic/Latino community was primarily responsible for the recovery of the housing market during the Great Recession. The 2019 State of Hispanic Ownership Report showed the Hispanic population is responsible for 51.6% of all homeownership growth from 2009 to 2019, adding a total of 1.9 million homeowners in those 10 years.
- The Latino community, said Limon, is more apt to help each other out and ensure a sustainable future for the population. An estimated 44% of the population will use extra income to assist a family member or friend in need.
- As of 2020, the Latino community was the only demographic that increased homeownership rates every year for the five years prior, making the population an important focal point for the industry—even amid the coronavirus crisis.
Dr. Lee Davenport is an Atlanta-based real estate coach who trains agents, teams, brokerages, and other business organizations on how to use today’s technology to work smarter. Join Lee’s free RE Tech Insider’s Club by visiting www.LearnWithLee.REALTOR.