| ERA Real Estate
(973) 496-5851 or beth.akersten@cendant.com |
Media
contact: Andrew Silver
(212) 704-4463/4557 or asilver@edelman.com |
Parsippany, NJ (July 8, 1998) – Responding to a trend that indicates Hispanic Americans represent the fastest growing segment of homebuyers, ERA Real Estate today announced the launch of a national Hispanic marketing campaign. Designed to help ERA brokers and sales associates reach the 27 million Hispanics living in the United States, the campaign seeks to educate ERA’s Rreal Eestate professionals about the cultural differences in working with Hispanic families and to help this growing segment of the population achieve the American dream of home ownership.
According to a recent survey by the Fannie Mae Foundation, the percentage of Hispanics who feel "totally confident" about qualifying for a mortgage has grown markedly over the past two years (38%, up from 21% in 1996). Hispanics also represent a major economic force in this country. In 1997 alone, their spending power accounted for over $250 billion in the U.S. marketplace. They are largest market of first time homebuyers and currently spend more than $30 billion on real estate annually.
ERA Real Estate’s Hispanic marketing initiative includes a detailed look at the who, what and whys of reaching this important home buying market. The campaign is designed to build on the skills ERA agents and sales associates already possess, and to provide them with the resources to guide Hispanic families through the somewhat complex arena of real estate transactions. Elements of the campaign include:
- Extensive guidelines on conducting free seminars in local communities addressing concerns of potential first-time homebuyers
- Print advertisements, direct-mail postcards, financing information, buyer/seller brochures and contract materials available in Spanish and English
- Media strategy to guide brokers and sales associates on proper placement of ads with the media most likely to reach Hispanics
- Questions and Answers on the most common issues facing brokers and sales associates in Hispanic communities
ERA conducted extensive research to determine the particular needs of Hispanic communities and applied those findings in the development of their materials. Many of the campaign materials focus on the social structure of a broker’s local Hispanic community. For example, many potential first-time Hispanic homebuyers may come from large, extended families where several family members, of varying ages, are involved in the buying process. Armed with this knowledge, ERA brokers and sales associates can be prepared for this type of situation and be able to provide information and assistance to all involved.
ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE: CD), is a leader in the residential real estate industry with over 25 years experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 2,600 independently owned and operated brokerage offices with more than 28,000 brokers and sales associates throughout the United States and 19 other countries. ERA is available to consumers on the Internet at www.era.com.
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