Eric Diaz, CFO of OYE!, presented yesterday for the Hispanic Association of Real Estate Professionals (HAREP) on the Hispanic homebuyer in the real estate market. It was a packed house, complete with realtors, mortgage brokers, banking officers amongst others. The data-starved audience liked the workshop so much that HAREP has asked OYE! to return to provide a geo-specific analysis on the Phoenix/Arizona market.
The educational presentation on the Hispanic homebuyer — provided by OYE!’s data solution– was in line with HAREP’s mission which is: To advocate sustainable home ownership through education and the empowerment of real estate professionals who serve multicultural home buyers and sellers, to advocate for public policy that supports the facilitation of the relationships among industry stakeholders, real estate practitioners and other industry professionals.
The Hispanic Homebuyer Presentation
Hispanics will spend $180 Billion in mortgages and insurance in 2016 (Geoscape AMDS 2016 data). Real estate professionals need to know more about how both acculturated and non-acculturated Hispanics make home purchase decisions in 2016 and beyond.
This presentation (link below) provides insights into Hispanic interests, questions, and more in relation to topics of discussion for Hispanic homebuyers online and via public social media conversations.
- Spanish speakers are more concerned with the community where they are considering purchasing a home than more acculturated Hispanics
- English speakers discuss foreclosures most often while Spanish speakers mention condos more frequently
- Blogs and Forums are an untapped resource to learn about Hispanic home-buyer’s concerns/questions
- Most discussed among all Hispanics are Financial Issues when it came to purchasing a home (i.e. prices, value, mortgages)
- English speaking Hispanics are most likely to use Zillow and other real estate sites, while Spanish speakers rarely mentioned the tools
- Hispanic men are more likely to post online about home-buying in both English and Spanish than women
Social Media Snapshots of the Event
— Eric Diaz (@ediaz33) April 20, 2016
— OYE! Intelligence (@oyeintelligence) April 20, 2016
This analysis is based on 10,000 verified U.S. Hispanic conversations. The data was gathered from Twitter, Facebook, blogs, forums and the web at large. Data analyzed was gathered from the date range between Oct. 1, 2015 – March 31, 2016
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