Frequently Asked Questions

What is NAHREP?
The National Association of Hispanic Real Estate Professionals is a non-profit trade organization for real estate professionals that serve Hispanic home buyers. Industry veterans Gary Acosta and Ernest Reyes co-founded the organization in 1999 because they felt that Hispanic real estate professionals were under-represented in the industry, a trend they felt was reflected in the lower homeownership rates among Latinos.  Today the organization has more than 14,000 members in 48 states and 40 affiliate chapters nationwide.

What is NAHREP’s mission?
NAHREP’s number-one goal is to empower Hispanic real estate professionals – and real estate professionals that work with the Hispanic community – through training, seminars and certification courses that educate them about the cultural distinctions of the diverse Hispanic population. Armed with a greater understanding of cultural differences they can, in turn, better serve and guide Hispanic consumers and help to increase the rate of homeownership.

Is membership only open to Hispanic real estate professionals?
No. While NAHREP was formed to offer support to Hispanic real estate professionals, members do not need to be Hispanic to join. NAHREP proudly welcomes real estate professionals from all backgrounds and cultures who share the same dedication to helping the Hispanic community.

Is there really a difference in the rate of homeownership among Hispanics versus that of non-Hispanic families?
Yes. Recent census figures show that the rate of homeownership among Latinos is 20 percent lower than that of non-Hispanic families.

What does NAHREP attribute this gap to?
There are several factors that contribute to this gap:

• A general lack of understanding among Latinos of the home-buying process – from the purchase end to mortgage financing;
• A natural distrust of real estate and mortgage professionals that was influenced by attitudes and experiences from their homelands or gained by word-of-mouth by friends who have been victims of predatory practices;
• A general negative attitude about banking institutions and debt. In Latin American countries there is no such thing as FDIC and Hispanics would rather stuff their savings in a mattress rather than deposit in a bank.
• Lack of funds for a down payment.

You mention predatory practices – are Latinos targeted by lending institutions and real estate agents to buy homes with loans they can’t afford?
Unfortunately, Latino families often become victims because they don’t have the right information before they buy a home. That’s why arming themselves with information is a vital first-step in the path to homeownership.

What if a homebuyer lacks the down payment to get into a home, but has a strong employment record and other things working in their favor – do they have any options?
There are more options available to them today than ever before:

• Many lenders now offer 100 percent financing on home loans.
• Some local cities have down-payment assistance programs
• FHA loans are also a good resource for first-time buyers in most markets.

In all instances, it is vital that the homebuyer work with reputable professionals who are willing to explain all the options available to them and answer all their questions.

If a Hispanic family wants to buy a home, what is the first thing you recommend they do?
They should call NAHREP at 800-964-5373 and we will refer them to a NAHREP professional in their area or they may consult our web directory at www.nahrep.org and click on the Home Center. They should also research the various Spanish language, home-buying materials available to them for free. Freddie Mac and Fannie Mae have home-buying guides you can download off the Web for free.

In your opinion, is lack of affordable housing a real problem for Hispanic homebuyers?
Lack of affordable housing is an issue in many areas of the country for all first-time homebuyers. In many regions such as Southern California, the median price of housing is in the  $400,000s and first-time buyers are priced out of the market. In other regions such as Florida, entry-level housing is still abundant.

How does NAHREP help the Hispanic consumer?
For now, NAHREP’s mission is to educate real estate professionals on how they can better serve Hispanic consumers and to provide a vital locater service so consumers can find NAHREP professionals in their local area through NAHREP’s website: www.nahrep.org or by calling NAHREP’s toll-free number at 800-964-5373.

Does NAHREP advocate a position on political issues or candidates like other national trade groups?
NAHREP has taken a stand on issues such as proposed reforms to the government-sponsored enterprises and RESPA. With a member base of more than 10,000, NAHREP has the opportunity and responsibility to influence legislation that supports the Latino community on housing issues.

What has your national organization been able to accomplish?
In a few short years, we have created a national forum for under-represented Hispanic real estate professionals. NAHREP offers these professionals support and training that will help them in the marketplace. By educating them through certification programs and seminars, we enable them to better serve the Latino community. This improved service and information directly benefits and empowers Hispanic homebuyers.

How does the organization function?
Like other national trade associations, NAHREP has a paid staff that handles the membership, event, sponsorship and communications functions. We also have a Board of Directors that is comprised of practitioners and corporate officers from all sectors of the industry. The Board provides the vision and the tone for the organization while the staff provides the infrastructure that keeps our office running.

What services does it provide to the members?
Currently, NAHREP provides certification courses that offer members useful information about cultural distinctions that often influence transactions with Latino homebuyers. We also offer seminars on a wide range of business topics that help members run efficient businesses.