Our valley is about 30% Hispanic, yet there are very few resources in Spanish for navigating the real estate market. Even for Spanish speakers who speak English fluently, many prefer to do contractual work in Spanish, especially for a transaction as big and important as a real estate transaction.
Those who don’t speak any English need to have everything explained to them and often make the mistake of asking their children to translate. Unless their children are lawyers, they’re not going to understand all the legal language involved. The contractual language of real estate is difficult for English speakers to understand in English — how are Spanish speakers supposed to rely on their children to be able to explain this to them?
Unfortunately, despite the large Hispanic population in Colorado, all state-approved real estate forms are only available in English. I joined the Colorado Association of REALTORS®️ Diversity & Inclusion Committee to help try to change this. I also have offered free classes here in the Roaring Fork Valley to help Spanish speakers understand the process. I offer a free guide on my website that explains the process in detail and offers checklists to help Spanish speakers navigate all that is involved with a real estate transaction from beginning to end.
Many of my clients are second- and third-generation Spanish speakers who have grown up in the Roaring Fork Valley, started families and want homes and businesses of their own. This is a population that is growing and thriving. Owning a home is an investment that can help grow financial wealth and should be equitable to everyone. I am a true believer that knowledge is power. It’s important to me to serve my community with free materials so they can make educated choices and understand what their options are. I have partnered with local lenders and financial institutions who are fluent in Spanish to help with some of the classes I offer, and also to help work with my clients.
In my Buyer’s Guide (Guia del Comprador), I cover detailed information about every step of the process, from finding a broker and a lender (these two go hand in hand and are of equal importance) and getting pre-approved for a loan to negotiations, making an offer and what’s entailed during a closing (mostly signing your life away). The most fun is looking at houses, so I also explain how the MLS works and help my clients figure out their wants and needs to narrow down which houses and commercial properties they want to see.
The process is the same in any language — the most important thing is to find someone you can communicate with well and whom you feel comfortable with. I always joke that your agent becomes your best friend, at least for the time you are working together. Not only are you in constant communication, but they also learn about some of the most personal details of your life. These are big decisions, and you want someone who is not just working for a commission but wants to make sure you’re taken care of through every step of the process to help you understand what you’re getting into.
The more you know, the more opportunities you’re going to have in life. A guide to real estate in Spanish simply does not exist, so I created my own. I hope this can help the growing community of Spanish speakers who are second- and third-generation American-born citizens who want to grow their wealth to be able to succeed.
Download my guide at: gokennedyrealtor.com or email me at [email protected].