As an industry, Realtor's have been pretty slow to attract niche markets such as the Hispanic community.
In Los Angeles we are nearing a 50% population of Hispanic heritage. Many own real estate.
eMarketer projects the number of Hispanic internet users in the United States will rise from 13.3 million in 2004 (7.6 percent of all internet users) to 16 million in 2007 (8.4 percent). eMarketer cites an America Online/RoperASW survey of U.S. Hispanic at-home Internet users' online activities: 54 percent of respondents research health care products, 52 percent make travel arrangements, 43 percent shop online, and a somewhat surprising 19 percent buy pharmaceuticals online.
comScore reports there are over 2 million U.S. Hispanics online who prefer surfing in Spanish. According to MediaPost.com, Hispanics like to use the same search engines as the average person.
Key word analyze the traffic for "hipoteca" (which means mortgage) and you will see that the cost is only a $1 for top bid. Even though the term gets a relatively small amount of traffic ..1,255.
It is non-competitive traffic.
More data on Hispanic demographics:
~According to the Selig Center for Economic Growth, Hispanic buying power for 2002 totaled $580 billion, with a predicted compound annual growth rate of 8.7%. (The standard rate for non-Hispanics is 4.8%.)
~The center's study predicts that by 2007 the dollar power of Hispanics will rise to $926.1 billion.
~There are 39.9 million Hispanics in the US, and half of the adults among them are foreign-born.
~5.6 billion spent online by U.S. Hispanics in 2003
In a recent article in MarketingProfs.comthey point out that many of these foreign born individuals need to be educated as to the basics that we Americans take for granted. As an example, a tax preparer would point out that you must file taxes.
In the real estate arena, I am reminded about a news piece I read about a real estate agent who defrauded the life savings from a foreign born real estate buyer.
The buyer when asked why he trusated this unscrupulous individual replied, "I saw his California real estate license on the wall."
If you wish to expand your market reach consider marketing to the Hispanic community. Call us today to help you attract Hispanic real estate buyers and sellers online.
Much of this info is from Polling Hispanic Search Users.
