Growing in Diverse Markets

Aug 3, 2016 10:49:39 AM

Mega Agent

Keller Williams agent David Acosta is using Keller Williams University (KWU) training to attract a growing demographic of agents and homebuyers.

Today, one in every four children born in the United States is Hispanic, and 20 percent of millennials self-identify as Hispanic. In 2014, the Latino population in the United States totaled 53 million, and by 2050, that figure is set to increase 126 percent to 120 million. This increase means change and opportunity for the real estate industry.

For starters, as purchasing power among this segment of the population increases, so will the number of Hispanic home buyers. It follows that the number of Hispanic real estate agents will also be on the rise, which is just one of the reasons KWU has translated its core training courses into Spanish. David_Acosta.png

Keller Williams mega agent, David Acosta, leads a team in the El Paso market center, and has offices in Hollywood Hills, Calif., Chula Vista, Calif. He uses and teaches from Spanish-language Keller Williams University courses to attract new talent and better serve the growing Hispanic client demographic.

“These courses off er tremendous value to our agent population,” Acosta says. “John Davis, Chris Heller, Dianna Kokoszka, and the entire Keller Williams family are investing time and resources in making sure we can support our agents with the right training and tools.”

When Acosta first found out KWU was adding Spanish-language courses, he knew he wanted to teach them, and he also knew why. “ There is a need for Spanish-speaking coaches and instructors, not just for Keller Williams, but for the entire industry,” he says. “ The Spanish-speaking population and those with Hispanic descent attend classes and trainings in English, but most of the time they still think and learn best in their first language, so they have to be translating back and forth, and it takes a bit longer to acquire all the information and skills due to the fact that sometimes this information gets lost in translation.”

As an agent, Acosta finds these courses useful for the other agents on his team and in his market centers. “I share what I learn with the agents on my team, which helps me better understand and absorb the material faster,” he says. Acosta teaches Spanish versions of Ignite as well as courses on buyer mastery, seller mastery and lead generation. “Currently, we just share with our team the notes and reviews from Masterminds and the BOLD classes,” he says. He also works to make sure Spanish-speaking agents know that the courses are available to them. This draws big attention to Keller Williams Realty as the real estate company of choice for new agents.

“I certainly promote these classes,” Acosta says. “I share them with my team, with the team leaders and with the people in our market centers. I also share them every opportunity I have during speaking engagements and with diverse chat groups on social media.”

Commitment to Advocacy

Acosta’s commitment to better serving, representing and advocating for the Hispanic population, both in terms of his fellow agents and his real estate clients, led to his involvement with the National Association of Hispanic Real Estate Professionals® (NAHREP). Acosta was elected to the NAHREP Board for 2016. Acosta has secured a Top 10 spot on the NAHREP Top 250 multiple times.

Acosta_quote.pngNAHREP seeks to be “The Voice for Hispanic Real Estate®” and champions of homeownership for the Hispanic community. After Acosta first learned about NAHREP, he felt called to get involved, especially because he felt that the association’s mission and values aligned so closely with those of Keller Williams.

“It’s a privilege to be part of an organization that has so much clout in our industry,” he says. “I got involved and helped found a local chapter in my market in El Paso, Texas. From there, I participated in national events and got to see that NAHREP’s principles and philosophy are in complete alignment with the principles of Keller Williams.

As Gary Keller says, we have to come from a place of contribution, and being part of the ALC and any other board helps you prepare for running your business because it teaches you about committees, meetings, accountability, funding, goals and objectives, all of which have real value in the formation of a true businessperson.”

 

Through his involvement with NAHREP, Acosta has deepened his understanding of the growth of the Hispanic population and how this growth will impact the real estate business. According to NAHREP, “With annual purchasing power of $1.5 trillion, the nation’s largest and fastest-growing minority group is reshaping the way goods and services are delivered across the marketplace. In the housing sector, Hispanics are expected to become a key driver in the first-time home buyer market and will comprise as much as 55.5 percent of new homeowners.”

Presidents and cabinet secretaries regularly address the NAHREP convention.

“At the first NAHREP national convention I attended, President Bill Clinton, as a keynote speaker, shared numbers about the growth of the Hispanic population in the U.S. with an upward tendency,” he says. “ The 54 million Hispanics in the U.S. today comprise 17 percent of the country’s total population, up from 5 percent in 1970. Over the past 20 years, the number of Latinos under the age of 18 has increased by 107 percent. President Clinton mentioned that if the people in that room – meaning agents, lenders, title companies, escrow companies, et cetera – don’t serve and understand this huge segment of the population, they will be out of business.  These words stuck with me, and I decided to take advantage of that for both sales and recruiting opportunities.”

Growing in Multiple Markets

It only follows that the growth in Hispanic home buyers will also surely drive growth in the number of Hispanic real estate agents. As an agent committed to growing and expanding his business, Acosta has put these statistics to work in his personal business strategy.

Acosta_team.pngAcosta entered his third market in November 2015 and has been busy planning his continued growth for the remainder of 2016.

“We are mapping the trends as we grow in new markets,” he says. “Texas and California have a high concentration of both Hispanic clients and potential agents that have a strong work ethic and can relate to their customers.  is will help us grow our market share. Gary Keller keeps reminding us about deepening our bench with talent, and both these markets have a big pool of talent to attract to our teams and to Keller Williams.”

When it comes to attracting Hispanic talent to Keller Williams, Acosta believes that Keller Williams University with its commitment to Spanish language instruction, and the availability of resources like KW Global Property Specialists to connect agents with international buyers and sellers, will provide tremendous value to current and prospective agents.

“While the National Association of REALTORS® says the average age for an agent is 55, the population of Hispanic agents is greatly younger in nature,” he says. “Along with their entrepreneurial spirit, they are hungry for information which creates a great opportunity for their growth. KWU’s Spanish-speaking courses as well as KWU training videos, scripts and KW MAPS Coaching and BOLD, are all tools available to agents which support Gary Keller’s vision for an agent-centric culture.”

“You are never limited to just one area,” Acosta says. This year, Acosta is focused on expanding into four to five Southern California teams and he also has his eye on Dallas, Texas.

“Real estate is a local business,” Acosta says. “Being in multiple markets keeps us focused on identifying local trends and delivering results.”

Where will you grow next?

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