Mays Business School, July 1st, 2004
The Real Estate Center recently conducted an extensive survey to determine attitudes ethnic groups have toward real estate agents. In The ” Home Buying Among Ethnic Groups” telephone survey, approximately 4,000 Texans, including Hispanics, Caucasians, African-Americans and Asians, were quizzed about their attitudes and expectations of agents.
The report shows that real estate companies looking to expand into America’s growing ethnic populations need to do their homework and not treat all homebuyers alike, explains REC Associate Director Gary Maler.
“All homebuyers expect the same basic set of real estate services,” Maler says. “However, the delivery and approach used by an agent should vary depending on many factors, including ethnic background.”
For example, survey respondents want agents to manage the closing process in its entirety. They consider it important for the agent to explain the process, explain contracts, set the right asking price and negotiate on their behalf.
More results from the study can be found at the Real Estate Center’s site.