A recent report from the Urban Institute shows that Hispanic homebuyers are poised to become a leading force in the U.S. housing market. By 2040, the report predicts that 70% of homebuyers will be Hispanic.
Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic.
Real estate industry veteran, Flavio Jimenez, will lead the division as vice president of business development for the Hispanic market. Jimenez is the host of a weekly radio show, the Flavio Jimenez Show on 1460 AM Deportes Vegas, which has run every weekday for 18 consecutive years. He will lead Fathom’s efforts in enhancing the company's position in the Las Vegas market, which is characterized by rising home prices and number of homes sold.
After working as a real estate agent for 23 years, Jimenez believes this is his chance to serve a market that’s been severely neglected. He said, "Through all of my experience, none of the brokerages I worked for truly understood the Hispanic market. Because none of them had a real interest in understanding the Latino community, I created Source Realty to provide better representation for this important, but highly underserved, demographic. Partnering with a national team like Fathom, whose desire to invest in the Hispanic community mirrors my own, should allow us to provide the best possible service to the Latino community as we help them with all aspects of their real estate needs."
Fathom CEO Joshua Harley, said, “We recognize that there are many underserved communities in this country and it's refreshing to see companies take more intentional steps to address them. However, we believe that the Spanish-speaking community is still rarely talked about in the real estate space, and it's our desire to fill the void. Our industry needs to evolve in new and creative ways that remove barriers and meet the growing needs and demands of Hispanic homebuyers.”
Harley also stated that the company plans on breaking down language barriers and educating Hispanic consumers on real estate investing. The company plans to prop up the community, he stated, “First, by helping them better understand how to buy, sell, and invest in real estate, through education, as a foundational wealth and legacy strategy. Second, by providing multiple scholarships each year to those in the Hispanic community seeking their real estate licenses and who wish to give back to their communities. Third, by further developing our Spanish-speaking operations to better support this initiative through our real estate, mortgage, title, insurance, and technology companies. And fourth, by creating print and digital resources, and technology tools in Spanish to help members of this important community better understand the process and remove many of the barriers they currently experience.”
Fathom president and chief financial officer, Marco Fregenal, said, “This announcement demonstrates that we're going beyond simple lip-service when we say that we care. We're taking action by pouring education, service, technology, and financial investment into these communities to ensure our Spanish-speaking friends and family have everything they need to live the American dream like I've been so blessed to enjoy.”
For more information, visit www.fathomrealty.com.
