The 2000 Census – A Recruiting Road Map

The 2000 US Census, in the right hands, can be a road map to where real estate sales activity is headed in the fast-growing multi-cultural market.

Real estate brokers must structure their recruiting programs to keep pace with the changing faces of the nation’s home sellers and buyers.  “There is little doubt that those who don’t reach out will lose market share to companies who are staffed with people with language skills and technology.  It is essential to that brokers critically define the changing skill sets that are needed to market in a specific demographic area. “Understanding census information can move real estate firms comfortably into cultural centers of influence”.

Although official Census 2000 results won’t be released in their entirety for some time, advance information has been made available on which I make my points regarding the importance of attracting multi-cultural agents, who will – in turn – attract and service multi-cultural customer bases. 

One startling fact is that the U.S. Hispanic population has skyrocketed by 58 % since 1990.  The Asian population, which is the second fastest growing segment, expanded at 52% in the same period.

“The National Association of REALTORS®, the real estate industry’s largest trade group, recently completed a summit with the China Real Estate Association.  This is a validation that multi-cultural marketing to both agents and consumers will be a necessary focus for success in the near and long-term future.”

The growth rate of the black population came in at 19%, which is less than 33% of the growth of the Asian population.  Meanwhile, white population growth was barely on the radar screen with only single digit numbers.

So how does a real estate brokerage firm take strategic advantage of this coming phenomenon? 

Build your recruiting outreach program with the following list of strategies:

• Survey your firm’s database to determine the quantity and quality of inquiries and sales received from specific market segments.

• Survey your own agents to determine if they have any foreign language skills, and post the languages spoken on the firm’s web site and in print advertisements.

• Ask your own agents to recommend agents with foreign language skills and cultural centers of influence with whom they have had co-op transactions.

• Develop a database of names gleaned from agent referrals and transaction records. Start by identifying agents and clients with surnames that might indicate they have a cultural link to a specific market segment.  (Surname databases for matching to internal records are available from the Census Bureau and other sources.)

• Promote in envelope stuffers, fax cover sheets, flyers and ads that your firm offers career opportunities for people proficient in foreign language and computer skills that will allow them to communicate via email in those languages.

• Target recruiting and sales advertising to newspapers, magazines and radio stations that attract growing ethnic populations.

• Develop foreign language advertisements and direct mail pieces for these markets.

• Add the fact that your firm has foreign language skills to its telephone system message on hold.  Depending on the mix of foreign customers, you may wish to record your message in both English and other languages.

• Offer cultural sensitivity marketing and sales training courses as part of your continuing education classes.

• Offer career nights, agent orientation and homeownership seminars in multiple languages.

• Set up systems and procedures so that every inquiry for career or real estate services receives the same information and level of service.

New skills are required to attract the recruits of the future who can communicate with the clients of the future. Now is the time to invest in your future by focusing on recruiting the agents of the future.