It has happened. Hispanics are now the largest minority in the U.S., surpassing the African-American population. Yet, the percentage of home ownership among Hispanics is substantially less. According to 1999 U.S. Census data, only 35 percent of Hispanics are currently homeowners compared to the national homeownership rate of 45.5 percent.
A huge opportunity exists for loan officers—regardless of interest rate moves. Ron Quintero, a well-known coach for loan officers and www.makemyphonering.com, says that, "in planning for the next big shift in the economy, one of the pillars of your business should be marketing to the ethnic market." (This market includes not only the Hispanic population; it includes African-Americans, Asians and/or any other ethnicity.)
This article is not intended to be totally comprehensive; its intention is to get you started in developing a niche market with the Hispanic community.
The first question you might ask is, "Can I capture a percentage of the Hispanic market—even if I am not Hispanc—or speak the language myself?"
Written By: Karen Deis
