NAR: Public Awareness Campaign: Hispanic Research

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Home > News Media > Public Awareness Campaign > PACHome > Hispanic Research

Public Awareness Campaign: Hispanic Research

Hispanic Research Findings
According to the Joint Center for Housing Studies at Harvard University, over the past decade, ethnic minorities and immigrants represented 40 percent of all new U.S. homeowners. As the largest of these minority groups, the Hispanic population represents tremendous buying power. A study conducted by the Tom�s Rivera Policy Institute at the University of Southern California forecasts that between 1.5 and 2.2 million Hispanic households will buy homes by 2010.

Hispanic consumers need to know who can help them with real estate transactions and understand the value that REALTORS� provide. The Public Awareness Campaign's Hispanic outreach efforts are designed to communicate these messages.

Since 2005, the National Association of REALTORS� has conducted an annual tracking study of Hispanic consumers to assess their attitudes toward homeownership as well as overall awareness of REALTORS� and their perceived value in the real estate transaction. In 2007, the questionnaire this audience was revised to allow more direct comparisons with the general consumer findings.

Methodology
Three hundred telephone interviews were conducted between September 17 and October 10, 2007. The interviews were conducted in either Spanish or English, depending on participants’ preferences.

Respondents met the following qualifications:

Hispanic U.S. residents between 25-54 years old
Responsible for household decisions regarding real estate transactions
Speak Spanish at home at least some of the time
View at least 5 hours of Spanish language television per week
Bought a home, condominium or other residence in the past 12 months or is planning to buy a home, condominium or other residence in the next 12 months

As in past years, data collection controls were established to ensure consistent and reliable data:

No more than 55 percent of respondents were female
No fewer than 70 percent of respondents had purchased or sold real estate in the past 12 months

Summary of Key Findings
The Public Awareness Campaign ads targeting this audience are clearly having an impact and expanding Hispanic market opportunities for REALTORS�.

In 2007, most of the attitudes and beliefs that Hispanic consumers have toward REALTORS� were very positive:

88 percent believe there is an added benefit to working with a real estate agent who is a REALTOR�
83 percent agree that REALTORS� are a good source for financing resources, home inspections, and other services related to the home buying and selling process
83 percent think REALTORS� earn their commission
82 percent think REALTORS� make buying a home easier
79 percent agree that REALTORS� work hard for their clients
78 percent believe REALTORS� help owners sell their house for a higher price than if they sold it themselves

Public Awareness Campaign advertising has also affected this population’s behaviors. According to the 2007 survey, 46 percent of respondents had used a REALTOR� to help them buy or sell a home, compared with only 18 percent in 2005.

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