Bridging the Cultural Gap in Real Estate
Real Estate agents are just the people to meet, if you want to interact with someone who has had exposure to diverse cultures. Their job requires them to come in contact with people from all over the world, looking for their dream house or condo. This is the reason why Realtors don’t sit back and wait for immigration to finalize; they step ahead and pull the immigrants into the world of real estate properties. According to research, immigrants tend to be more serious about buying their own house as soon as they save up enough money. It gives them a sense of belonging; putting down their own roots and becoming a part of their chosen homeland.
So these are the most ideal clients for real estate agents, as they are more likely to select a house and then buy it. But Realtors need to learn about the cultural tendencies of their prospective clients, as these affect their decisions. If they are sensitive towards their multicultural clients’ needs, there is a positive impact which leads to future transactions.
According to the Census Bureau, the main reason for the growth of the US population is immigration. This of course, in effect, gives rise to home purchases, which results in an increased economy. This is the reason why it is essential to understand the norms and customs of multicultural immigrants. The more Realtors learn their customs, the easier it will be to sell them a house.
Natalia Siniavskaia of the National Association of Home Builders states that even though immigrants start off in rental houses, the desire to buy their own houses keeps burning in them. She conducted a study in which her deductions concluded that by the year 2020, 2 million multifamily units and 1.2 million single-family units will be occupied by immigrants. She made this estimation according to the influx of immigrants in US each year.
All Realtors need to carefully analyze the various cultural differences and adhere to them. Some expert real estate agents encourage fellow realtors to ask their multicultural clients about their norms and customs. This would result in a lasting, happy and healthy working relationship. The important thing is to understand their psychology and what their needs are, with respect to their homes. Treating immigrants with respect should be every Realtor’s motto!
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