Bay Equity Home Loans had a strong opening act at the 2015 National Association of Hispanic Real Estate Professionals (NAHREP) convention in Chicago.
Hispanics accounted for 320,000 of household formations in 2014, a full 40 percent of the U.S. total, and part of Bay Equity’s Core Values is a commitment to understand the communities it serves, said Raul Espinoza, Senior Vice President of Sales for Bay Equity’s Private Client Group.
Espinoza, who also serves on the board of governors for NAHREP, sat on a panel discussion on best practices for engaging the Hispanic community through outreach and education.
“Our partnership with NAHREP has been invaluable in understanding the Hispanic homebuyer and will continue to lead us to great opportunities in new markets,” Espinoza said. “The U.S. Hispanic population has the purchasing power of $1.5 trillion – roughly equal to that of Canada – and is expected to grow to $2 trillion by 2020.”
Using his connections in the Latino Hollywood community, Espinoza recruited actor and activist Esai Morales to come to the opening general session, followed by a meet and greet photo opportunity at the Bay Equity booth.
“We looked at this convention as our big opportunity to introduce Bay Equity to this market and with Esai’s help, we hit it out of the park,” Espinoza said.
Bay Equity President Casey McGovern added: “I’ve been to hundreds of trade shows, and I’ve never seen a lender take over an expo hall like we did. People lined up for two hours to meet Esai and take a photo. It gave Bay great exposure and the name recognition we were looking for.”
Understanding the different communities it serves is a big part of the Bay Equity Core Values to “BE Service Focused” by committing to treat the customer as the top priority, and to “BE Family” by contributing to the community.
“No one understands Hispanic homebuyers, sellers and practitioners like NAHREP,” Espinoza said ”Our partnership with NAHREP has been invaluable in understanding the Hispanic homebuyer and will continue to lead us to great opportunities in new markets.”