Servicing the Multicultural Homebuyer
Upcoming SlideShare
Loading in...5
×
 

Servicing the Multicultural Homebuyer

on

  • 563 views

This presentation is designed to educate real estate professionals on the language and cultural nuances of the multicultural consumer. The course provides the real estate professional with the tools ...

This presentation is designed to educate real estate professionals on the language and cultural nuances of the multicultural consumer. The course provides the real estate professional with the tools to assist the multicultural consumer understand the U.S. home buying process while keeping the real estate professional within the confines of fair housing laws.

Statistics

Views

Total Views
563
Views on SlideShare
563
Embed Views
0

Actions

Likes
0
Downloads
3
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • Explain how culture is a set of learned behaviors, beliefs, attitudes, values, and ideals that are shared by a particular society or population. Walk students through each cultural stereotype and ask them to legitimize or discount them.
  • Explain to the class that these summaries are only generalizations. For international business, it is important for the real estate professional to do his or her own research before going into a country to do business.Introduce this and the following sections as "general characteristics" among the various multicultural groups.  Emphasize that while they may not always apply, they are generalizations that have been found to influence the home buying decisions of the multicultural consumer. Explain that while there are subsegments within each of the various multicultural groups, behaviorally the dynamics described in the following sections are good benchmarks to utilize.
  • Demonstrate to students a body language example (i.e., crossed arms, hands on hips, pursed lips, rolling of eyes) to set the tone for the discussion.  Give example: In Los Angeles, there are often problems between Korean businessmen and African-Americans. Koreans do not use direct eye contact as a sign of respect. African-Americans believe direct eye contact is a sign of respect.
  • Present the list of norms as neutral, safe manners to use until one learns more. These have all been reported by various people as being generally used and accepted internationally. Emphasize that one should not become overly concerned about being correct. Just be aware of these norms and try to make them second nature.

Servicing the Multicultural Homebuyer Servicing the Multicultural Homebuyer Presentation Transcript

  • Oscar Gonzales Copyright 2013 Servicing the Multicultural Homebuyer
  • Oscar Gonzales Copyright 2013 Introductions
  • Oscar Gonzales Copyright 2013 THIS IS NOT AN EXERCISE IN DIVERSITY!
  • Oscar Gonzales Copyright 2013 It’s About Business DevelopmentMulticultural Marketing is about economics and profitability.The customer segment we traditionally left to someone elsethat required more guidance might now be our economiclifeboat. That economic lifeboat is the “Multicultural Consumer”
  • Oscar Gonzales Copyright 2013 Session Goals and Objectives• The course is designed to educate real estate professionals on the language and cultural nuances of the multicultural consumer.• The course provides the real estate professional with the tools to assist the multicultural consumer understand the U.S. home buying process while keeping the real estate professional within the confines of fair housing laws.
  • Oscar Gonzales Copyright 2013
  • Oscar Gonzales Copyright 2013Profile of Realtors & Homebuyers • Median age of a Realtor is 56 • Largest share of homebuyers years old are 25-34 years old; Median age overall is 45 years old • 57% are female • 37% are first-time • 75% of Realtors have real homebuyers estate as their only occupation • 21 % are single females; 12% are single males • 9% of Realtors are foreign born • 15% of first-time home buyers are foreign born; 7% are repeat
  • Oscar Gonzales Copyright 2013 Profile of Realtors & Homebuyers • 56% of Realtors have a smart • 88% of homebuyers used the phone with wireless internet internet to search for a home and email access • 89% used a real estate agent • 91% of information on the or broker website is the members own listings • 30% of buyers used print newspaper ads to find info on • Almost 1/2 of members are homes for sale using social media. • 2% of buyers found the home • Realtors spend a median of they purchased using print $250 to maintain their ads websites
  • Population Trends
  • Oscar Gonzales Copyright 2013 U.S. Population by Race Year U.S. White Black Asian Hispanic Other 2011 312,211,832 198,274,006 38,047,665 14,677,490 52,141,065 9,071,606 2016 326,157,434 203,590,818 39,443,305 15,531,613 59,225,877 8,365,821 % Change 4.47% 2.68% 3.67% 5.82% 13.59% -7.78% U.S. Census 2012
  • Oscar Gonzales Copyright 2013 U.S. Foreign Born Population
  • Oscar Gonzales Copyright 2013 U.S. Population Projections 2008 - 2050 Percent of Total Population 2008-2050 90.00 80.00 70.00 60.00 White 50.00 Black 40.00 Asian Hispanic 30.00 20.00 10.00 0.00 2008 2010 2015 2020 2025 2030 2035 2040 2045 2050 12
  • Oscar Gonzales Copyright 2013 U.S. Median Income by Race Year U.S. White Black Asian Hispanic 2011 50,289 52,488 36,780 60,415 39,646 2016 50,832 53,107 36,573 61,010 39,834 % Change 1.08% 1.18% -0.56% .98% 0.47 U.S. Census 2012
  • Oscar Gonzales Copyright 2013Multicultural Buying Power Source: University of Georgia Selig Center
  • Oscar Gonzales Copyright 2013 Immigrants and Boomers In his book, Immigrants and Boomers, author and noted demographer Dowell Myers describes how each of these two powerful demographic influencers may hold the keys to resolving the problems presented by the other. Myers argues that during the Myers and other demographers demographic transition, the new believe that immigration can help to prospect of diminished skills in the supply some of the workers needed to future workforce and a reduced support the rising number of seniors middle class could undermine the and to replace them in the labor force continued growth in home prices. as they retire and can help compensate for the smaller number of Retirees will transition from being net younger adults who are likely to buy taxpayers to net recipients of health homes from the increasing number of and pension benefits, and they will be older Americans. supported by a smaller workforce that is struggling to meet its own needs. New arrivals alone can offset about one-quarter of the increase in the Seniors are also net home sellers and senior ratio. Myers believes there will be 67% more people in the selling age relative to the younger adults who are likely to be buyers.
  • Oscar Gonzales Copyright 2013Texas DemographicAnalysis
  • Oscar Gonzales Copyright 2013 Texas Population 2011 - 2016
  • Oscar Gonzales Copyright 2013 Texas Foreign Born Population
  • Oscar Gonzales Copyright 2013 Texas Housing Tenure – Owner Occupied
  • Oscar Gonzales Copyright 2013 Texas Housing Tenure – Renter Occupied
  • Oscar Gonzales Copyright 2013Hispanic Acculturation SegmentsAmericanizado• Hispanics in this segment are typically English dominant (nearly no Spanish); born in US and often 3rd+ generation; has few Hispanic cultural practices.Nueva Latina• Hispanics in this segment are typically English preferred (some Spanish); born in U.S. and typically 2nd generation; some Hispanic cultural practices and often “retro-acculturate”.Bi-Cultural Hispanics• Hispanics in this segment are typically bilingual (equal or nearly); immigrated as child or young adult; has many Hispanic cultural practicesHispano• Hispanics in this segment are typically Spanish preferred (some English); immigrated as adult and in U.S. 10+ years; pre-dominant Hispanic cultural practices.Latinoamericana• Hispanics in this segment are typically Spanish dominant (nearly no English); recently immigrated as adult (less than 10 years ago); primarily Hispanic cultural practices and identifies with home country more so than U.S. Hispanic.
  • Oscar Gonzales Copyright 2013 Asian Acculturation Segments Very Westernized Asians • Asian population categorized as AA1 (Very Westernized Asians) Bi-Cultural Westernized Asians • Asian population categorized as AA2 (Bi-Cultural Westernized Asians) Bi-Cultural Asians • Asian population categorized as AA3 (Bi-Cultural Asians) Bi-Cultural Asian-Identity • Asian population categorized as AA4 (Bi-Cultural Asian-Identity Asians) Very Asian-Identity • Asian population categorized as AA5 (Very Asian-Identity Asians)
  • Oscar Gonzales Copyright 2013Exercise: Stereotype BrainstormDiscuss your reactions to what you have heard: Write stereotypes or generalizations you have heard •How did you feel about using stereotypes? •How did you feel about those used to describe members for each culture assigned to your group. The of your group? •Do they apply to everyone in a group? Are they fair? be positive or stereotype or generalization can negative.If there is little diversity in the area, discuss with othergroups: religious, disabled, wealthy, older persons, as well asmen, women and real estate professionals.Discuss how people distinguish themselves from others intheir own groups. (i.e.,Real estate agents).
  • Oscar Gonzales Copyright 2013Assumptions, Stereotypes and BiasesPeople make generalizations as a way of coping withthe confusing details of experience. Generalizationsare useful and necessary, as long as they remainguidelines and do not turn into rules. 24
  • Oscar Gonzales Copyright 2013 The Role of Culture Culture is a set of learned behaviors, beliefs, attitudes, values, and ideals that are shared by a particular society or population. Culture impacts how we think, feel, and more importantly, how we look at the world and is the most basic cause of a person’s wants and behavior. 25
  • Oscar Gonzales Copyright 2013 Cultural Summaries• Recent immigrants are influenced more by their traditions and customs than second or third generation immigrants who are accustomed to living and doing business in the U.S.• If you are working with multicultural homebuyers, their cultural practices and customs are likely to influence home buying decisions and affect the overall transaction. 26
  • Communication
  • Oscar Gonzales Copyright 2013Exercise:???? Spoken HereWhat languages are spoken in your community?Have you noticed an increase or decrease in differentlanguages spoken in your community?How many different languages are spoken in youroffice?How do you feel when others speak a differentlanguage around you? 28
  • Oscar Gonzales Copyright 2013 “Low” Vs. “High” High Context Low Context Prevalent in: Prevalent in: Asia United States Russia Canada Middle East Northern Europe Latin America Southern Europe Nonverbal communication is important. Precise verbal agreements are important. A contract is the basis of a relationship. A contract is binding and exists apart from a personal relationship. Time is fluid, and schedules tend to be flexible. Time is treated as a commodity, and schedules are carefully observed. Formality, face-saving communication, and relationships are There is a preference for informality and direct valued. A slower pace is needed to build relationships. communication. Results are valued. Accustomed to a fast pace of doing business. Observe punctuality.
  • Oscar Gonzales Copyright 2013LanguageBilingualism - an interesting phenomenon• Perfect fluent English-speakers suddenly shift into fluent Spanish or Chinese• An individual’s connection to their language can tell a lot about individuals level of assimilation and acculturation.
  • Oscar Gonzales Copyright 2013Tips on What Language to Use • Be sensitive to how they reply to your first words. – If they answer in Chinese, Vietnamese, or Spanish or heavily accented or broken English, ask them if they would prefer to speak in that language. – If you are bilingual, move into their respective language. – If you are not, assure them that you will guide them to the appropriate person and or department.
  • Oscar Gonzales Copyright 2013Additional tips for working withnon-English speakers • CHILL-LAX Often times, when we are dealing with non- English speakers, we become tense, irritable, and tend to raise our voices, as if by increasing the volume of what we are saying will help. • In speaking with non-English speakers, be sparse, simple and straightforward. • Do not use jargon, slang or colloquialisms.
  • Oscar Gonzales Copyright 2013Reading Non-Verbal Signs According to most communication specialists, 80% to 90% of a culture is reflected in nonverbal messages. These include: • Eye movement • Facial gestures • Hand, leg, and body gestures as well as body orientation and posture • Use of distance and touching • Tone of voice • Cultural contexting. Are there any universals of body language? There are, but they are generally very subtle.
  • Oscar Gonzales Copyright 2013 Business Norms and Etiquette Beyond using proper etiquette, which you use in the course of business, it is important to project positive attitudes toward multiculturalism, as well as adjust to the other person’s need for high or low context communication. 34
  • Oscar Gonzales Copyright 2013Orientation to the Hispanic Culture
  • Oscar Gonzales Copyright 2013 We are often asked what is the best, most appropriate and respectful name to use describing this population: • Latino (a)? • Hispanic ? • Chicano (a)? • Mexican-American • Cuban-American • Puerto Rican • Dominican • etc….
  • Oscar Gonzales Copyright 2013The simple answer is that it depends on to whom you are talking.Individuals choose to state their ethnic identification in many differentways: - Sometimes geographically / by national origin and - Sometimes politically (Chicanos).• Good rule of thumb – ask your client which terms they prefer.
  • Oscar Gonzales Copyright 2013 Valid Hispanic Generalizations Personalism, Passion and Loyalty1. “Personalismo” roughly translated means “personalism.” “Personalismo” communicates the profound emphasis that Latino culture places on the subjective experience and quality of the person-to-person interaction. • Latinos are socialized to place great emphasis on this aspect of human interaction. When serving Latino clientele, it is very important to be cognizant of the quality of your interactions.
  • Oscar Gonzales Copyright 2013 Valid Hispanic Generalizations2. “Pasión” means passion. • Latino culture is known to facilitate the free expression of emotions in certain contexts. One of these contexts is where the quality of inter-personal interactions indicates that the individual with whom you are dealing is “safe” and non- rejecting.3. “Lealtad” means loyalty. • Once an individual has proven himself via his/her “personalismo” and the client has invested the relationship with “pasión” (passion), loyalty follows.4. “Sharing” • It is often difficult for Westerners, raised in an environment that is focused on the individual, to understand this significance. • A historian might relate it to the tribal life of the indigenous peoples of Latin America, many of whom lived in communal situations where the needs of the group took precedence over the needs of the individual.
  • Oscar Gonzales Copyright 2013 Valid Hispanic Generalizations5. The Role of Shame – “¿Qué Dirán?” (“What will they say?”) • One of the results of living in a culture that places a great deal of emphasis on the group is the significance of shame. • Fear of shame: Immigrants and those not fluent in English from cultures where shame plays an important role are particularly sensitive to humiliation and appearing foolish.
  • Oscar Gonzales Copyright 2013 Valid Hispanic GeneralizationsFamily UnityIn Latin America, however, the definition of the family conveys moreof a sense of inclusion.The “extended family” is considered more important and proximate.Uncles, aunts, cousins, godparents (padrino, madrina), compadres andcomadres (best friends) all are invested with a sense of belonging andobligation to the core group.
  • Oscar Gonzales Copyright 2013 Valid Hispanic GeneralizationsFamily UnityParent-Child Relationship• Children are highly prized and considered a blessing from God.• Children are an integral part of the family. There are some aspects of child-rearing that receive less emphasis in Hispanic vs. non-Hispanic families such as toilet training and weaning from nursing.• This aspect of the culture is important for your work in real estate in that members of the extended family may serve as sources of information and referral.
  • Oscar Gonzales Copyright 2013 Trust to the Latino• All else being equal (i.e., if they have not had previous negative experience or heard of others’ negative experiences), they will approach an unknown type of business relationship with a trusting attitude.• However, if that trust is violated, it is not easy to win it back.
  • Oscar Gonzales Copyright 2013 Orientation to the Asian Culture
  • Oscar Gonzales Copyright 2013 Asian Languages • Chinese is now the second most prevalent foreign language spoken in U.S. households after Spanish. • In California, five of the top 10 languages spoken are Asian and Chinese is now the third most common language spoken in New York City.
  • Oscar Gonzales Copyright 2013Valid GeneralizationsFamily-Oriented• Great emphasis is placed on strong family relationships.• It is common for parents to make a generous down payment or purchase a house for their children.• It is also not uncommon to find women in charge of household finances.
  • Oscar Gonzales Copyright 2013Valid Generalizations A child in an Asian household normally learns or is exposed to the following values: • Achievement and success • Activity and involvement • Efficiency and practicality • Progress • Material comfort • Humanitarianism • Youthfulness • Fitness and health
  • Oscar Gonzales Copyright 2013Valid GeneralizationsEvery group or society in Asia has its indigenousculture, and cultural influences which may vary greatlyfrom country to country, or even neighborhood toneighborhood.For example: White is usually associated with death inmany Asian cultures. However it is regarded as purityand cleanliness in Western countries.
  • Oscar Gonzales Copyright 2013Communication• Similarity to other Asian cultures• “Yes” doesn’t mean “Yes”• “Maybe” means “No”• You will never hear “No”• Avoid embarrassing self and others
  • Oscar Gonzales Copyright 2013Non-Confrontational Nature • While there are exceptions, most Asian Americans are conservative and reserved by nature. • When an issue occurs, they will not disagree openly in an effort to save face and respect the other party. • Although generally non-confrontational, Asians won’t hesitate to voice their opinion when necessary.
  • Oscar Gonzales Copyright 2013Church or Philosophy • Strong sense of faith • Catholics • Baptist • Buddhist
  • Oscar Gonzales Copyright 2013 Orientation to the African-American Culture
  • Oscar Gonzales Copyright 2013FamilyAfrican-American families share manyfeatures with other ethnic families including: – Approaches to marriage – Family formation – Gender roles – Parenting styles
  • Oscar Gonzales Copyright 2013Historical and CulturalInfluencesCharacteristics of family include: – Tightly extended family units. – Matrilineal organization of family. – Family as clan organization can be seen as the predecessor to the extended family structure of modern African-American communities. – Grandparents, especially grandmothers, play a crucial role in the maintenance of the African-American family.
  • Oscar Gonzales Copyright 2013Cultural Influences• Spirituality• Mutual support• Ethnic identity• Adaptive extended family structures• Church as offering both ideological and instrumental support
  • Oscar Gonzales Copyright 2013Multicultural groups are knownfor:• Close space perception• High context communication and avoiding the “Intimidator” Factor• More oriented towards “being” in relationships than “becoming” one• Flexible about time vs. rigidity• Likely to place a premium on flexibility in relationships• More comfortable with close personal contact than traditional Western culture• Avoidant of direct eye contact in certain situations• Freer with physical expression
  • Oscar Gonzales Copyright 2013Multicultural Marketing
  • Oscar Gonzales Copyright 2013 Approaches to Multicultural Marketing and Outreach
  • Oscar Gonzales Copyright 2013Multicultural Marketing Marketing to multicultural consumers requires a media neutral planning approach. Marketers can no longer assume that multicultural marketing is done only in ethnic language media or using only conventional media.
  • Marketing to the Hispanic Homebuyer
  • Oscar Gonzales Copyright 2013 DO YOUR RESEARCH!!! Volkswagen Ad Offends Latinos March 18, 2006 In 2006 Volkswagen put up its new billboards for the sporty car with the slogan "Turbo-Cojones". In English, the word is used as a catch-all term for daring, but in Spanish, it is an impolite way of saying "testicles." Volkswagens intent was to pitch the sporty, fast car to young, bilingual Latinos, but it backfired.
  • Oscar Gonzales Copyright 2013 The Decision Making Process• Females, extended family and trusted friends often play a role in the home buying decision.• Males typically play the role of provider, and in negotiations they will usually take control.• The female, albeit often behind the scenes, plays the important role of home administrator.• Since fulfilling their children’s needs is very important to Hispanics, understand that kids are also your clients.• When it comes to their decision about purchasing a home, single parent families will often look to their extended family for help.
  • Oscar Gonzales Copyright 2013 Emerging Opportunities• Marketers attempting to meet the needs of the Hispanic community should keep in mind the role language plays in establishing trust and motivating purchase intent.LANGUAGE…Spanish is a way of life for Hispanics
  • Oscar Gonzales Copyright 2013 Television, the Most Widely Used Ad Medium, is Even more Important in the Hispanic Market Avg. # Hours Per Week Spent with Each Medium Non- Hispanic Hispanic Hispanic Index TV 25.90 17.81 143 Radio 16.57 14.75 112 Magazine 3.35 3.74 90 Newspaper 4.29 5.04 85 Source: Market Segment Research & Consulting, “The MSR&C Ethnic Market Report”
  • Oscar Gonzales Copyright 2013 Radio• Radio is an excellent, local medium for reaching Spanish speakers, depending on the objectives of your initiative. It can serve as a more intimate complement to wider campaigns as well as give attention to other local grassroots advertising.
  • Oscar Gonzales Copyright 2013 Print• Be aware of the limitations of print advertising in reaching the Hispanic market.• Tailor content to the reading levels of your target audience.• Be mindful of newspapers and magazines that are actually relevant to the cultural needs of the Hispanic homebuyer.
  • Oscar Gonzales Copyright 2013 Print• Distribution has been another major obstacle to readership. It is sometimes very difficult to find Hispanic or Spanish language magazines or newspapers in major outlets, with the exception of stores in areas of high Hispanic concentration.
  • Oscar Gonzales Copyright 2013 Print • In spite of all of these challenges, marketers should start to invest in print. The more interesting and appealing print outlets are, the more Hispanics will pay attention to them. Remember that the Hispanic culture is more oral than literate and that your investment may take longer to generate a return.
  • Oscar Gonzales Copyright 2013 E-merging Opportunities - Hispanics• The Internet makes it possible for Hispanic consumers to learn about news in their countries of origin via web sites.• The Internet makes the need to assimilate much less pressing than ever before.• Biculturalism is the most likely Hispanic trend. Hispanics can increasingly navigate between the two cultures and behave in way relevant to them.
  • Oscar Gonzales Copyright 2013 State Farm
  • Marketing to the Asian Consumer
  • Oscar Gonzales Copyright 2013 Asian Buying Power While Asians number less than many other population segments, their economic power and potential bottom line impact in many product categories and brands is disproportionately large.
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums - Asian• Print – Dominant media vehicle. Primary source of news and information. – The major publications among Asian- Americans have a diverse editorial focus, reflecting the various geographic origins of the community. • (i.e., Mainland China, Hong Kong, Vietnam, Pakistan, India, Korean, etc..)
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums - Asian• Print – Most are published weekly or monthly, with only a few published daily. – For some Asian groups the majority of the publications are “in-culture” but printed in English, reflecting the high English language competency within some Asian cultures.
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums - Asian• Television – Asian language television programming is growing rapidly and is available through satellite, local cable, as well as UHF. – Asian television features locally produced programming as well as the latest news/entertainment content from Asia. – California is the most developed of the Asian broadcast markets.
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums - Asian • Radio – A number of programs and stations available in each major geographic market. In most major markets radio programming is available in the multiple languages (i.e., Mandarin, Cantonese, Vietnamese, etc..) – Availability of Asian radio has been growing rapidly within the last 5-10 years. – National and local media is available in top Asian DMA’s (i.e., Los Angeles, New York, San Francisco, Houston, Seattle, Atlanta, etc..)
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums – Asian-AmericanInternet Usage• Among Asian-Americans surveyed, nearly 90% of respondents were online and 70% visit ethnic websites/portals.• More than half the respondents shop online, which has doubled from last year.• Asian Indians and Chinese spend the most hours on the Internet and young Asian Americans between the ages of 25 and 34 are the heaviest Internet users.
  • Oscar Gonzales Copyright 2013 Marketing to the African-American Consumer
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums – African American • African-American consumers are continually seen as “monolithic” that can be addressed through mainstream. • Little if any research has explored African-American perceptions of advertising. • The most effective communications to the African American market are campaigns that highlight: – Family – Community strength – Culture (Source: New America Media 2005; Black Enterprise 2009)
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums – African American• African American consumers: – Are more receptive to advertising than White non-Hispanic consumers. – African-Americans found advertising more meaningful when it featured African-American models. – They are more satisfied with the “informational” value of advertising than White non-Hispanic consumers. (Source: New America Media 2009 Black Enterprise 2009)
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums – African American• Print – African-Americans read daily newspapers and magazines (mostly weeklies) on average. – Print media reaches only ¼ of the African- American population. (Source: New America Media 2009; Black Enterprise 2009)
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums – African American • Television – African-Americans watch about 5 more hours of television per week than their White non-Hispanic counterparts. – African-Americans are more susceptible to media’s effects because they often use television as a source of guidance. – Unfortunately, much of the research focuses on effects of television on African-Americans, and little address advertising or attitudes toward advertising. (Source: New America Media 2009; Black Enterprise 2009)
  • Oscar Gonzales Copyright 2013 Advertising in the Various Mediums – African American • Radio – A substantial majority of African American adults listen to ethnic radio stations on a regular basis. – African-Americans that are 40 years of age or older and those with annual incomes of over $40,000 listen to ethnic radio more often than the younger and less affluent. (Source: New America Media 2009; Black Enterprise 2009)
  • Oscar Gonzales Copyright 2013 Overall Best Points of ContactIn deciding to prospect in the Multicultural market, you need tolook for your points of contact: • Immediate family • Friends • Neighbors • Church (Catholic, Protestant, Evangelical) • Doctors • Dentists • Chiropractors • Teachers • Attorneys (e.g., immigration) • Bankers • Retailers (furniture store, children’s baby clothes, auto dealers, car parts) • Services (mechanics, gardeners, house-keepers, contractors, painters, dry cleaners)
  • Oscar Gonzales Copyright 2013 Three Fundamental StrategiesOver time, organizations in the real estate industry that have been successful in tappinginto this consumer base have utilized three fundamental strategies:• Understand and evaluate the demographics of their local market• Develop appropriate products and modified service delivery• Measure and evaluate outcomes
  • Oscar Gonzales Copyright 2013
  • Oscar Gonzales Copyright 2013Be Patient!Understand that the language, cultural and differingbusiness practices can take time to overcome…….and Don’t be afraid to ask for help. REALLY!
  • Oscar Gonzales Copyright 2013 Multicultural FactsFor those of you who watch what you eat, its a relief to finally knowthe truth about all those conflicting nutritional studies.
  • Oscar Gonzales Copyright 2013 Multicultural Facts 1. The Japanese eat very little fat and suffer fewer heart attacks than Americans. 2. The Mexicans eat a lot of fat and suffer fewer heart attacks than Americans. 3. The Chinese drink very little red wine and suffer fewer heart attacks than Americans. 4. The Italians drink a lot of red wine and suffer fewer heart attacks than Americans. 5. The Germans drink a lot of beer, eat lots of sausages and fats and suffer fewer heart attacks than Americans.
  • Oscar Gonzales Copyright 2013 Multicultural Munching SPEAKING ENGLISH IS CONCLUSION: Eat and drink what you like……… APPARENTLY WHAT KILLS YOU!!
  • Servicing the Multicultural Homebuyer