In many parts of Florida, not speaking Spanish can eliminate half of your potential market. While speaking Spanish isn’t essential to have a successful real estate business in many areas of the United States, learning a second language is a powerful tool that you may want to tap into.
A second language can help you earn clients that are immigrating to, investing in or purchasing vacation properties in your area.
You might argue that none of the agents in your area speak more than one language, but that’s exactly why you should! It’s one heck of a niche.
The United States is a Melting Pot
In most areas of the United States, it’s a safe bet that the majority of your clientele will speak English. Nonetheless, the United States is becoming a more diverse country.
Sooner or later, people who speak other languages will likely move into your area. Knowing their home language will make you the ideal real estate agent candidate.
Even when immigrants make an effort to learn the native language, real estate vocabulary isn’t usually within the first few lessons of language-learning software. It’s actually a pretty advanced concept that may not even be taught in any lessons at all.
More so, buying a home is a big investment. Buyers and tenants tend to have a lot of questions, and they usually aren’t experts in real estate. It’s a daunting process to go through in your first language.
It would make sense that when a client finds a real estate professional who speaks their native tongue, they grab on and hold tight.
More so, making someone feel at home when they first move to a foreign place can create a bond between you and the client.
They’ll come to you when it’s time to sell their home and purchase a new one. And they’ll remember how comfortable you made them feel when they moved here—and they may even recommend you to friends who are also immigrating.
Investors Like to Diversify
Big-time investors like to put their money in different countries. That way, their investment isn’t tied to any one economy.
When you’re the only real estate agent in the area who speaks a certain language, you become the person these investors go to for help.
Spanish isn’t the only language that’s useful. Learning a language can help you attract investors from all over the world. A few deals with some of those players can make you a lot of income.
You’ll be going above and beyond to cater to them in a way that no one else in your area does. Of course, they’re going to want to stick with you. And, they may even refer a few of their friends to you.
You Might Live Where People Like to Vacation
There’s a popular saying in Florida – “I live where you vacation.” Personally, I live very close to Disney World and Universal Studios. I’m also not too far from the beach!
These local attractions drive families from all over the world to purchase vacation properties in the Orlando area. Speaking a second language helps secure clients.
(HINT: Give these buyers/tenants the inside scoop on your area. If they enjoy vacationing where you live, they may recommend the area (and you!) to their friends.)
Now, you may not live next door to the Happiest Place on Earth, but you probably live near something that will cause people to purchase vacation homes near you.
Don’t disregard this idea because you feel like you’re in the wrong place. Your area isn’t too boring for that kind of market. In fact, the peace and quiet may be what drives people to you.
You may be on the outskirts of a big city, a national park, an amusement park—wildlife! Figure out why people may want to come to your area for the holidays and market to that group!
It Helps Outside of Work, Too
Learning a second language can only improve your life. Here are a few of the many perks:
- You’re using your brain muscles to continue learning – something many of us do when we get out of school or after our first few years in the industry. And you know what they say, use it or lose it! Studies show that learning a new language can even improve your decision-making skills.
- People will think you’re smarter when you speak a second language. People are always impressed by those who can do difficult things. You’d get the same kind of response if you were great with a musical instrument or wrote an intriguing novel — but, this, you can actually apply to your career.
- It will make traveling a heck of a lot easier. You’ll have a whole new section of the planet that you’ll feel comfortable visiting.
- Learn the language with your spouse or best friend, and you can tell each other secrets in public without anyone eavesdropping! Foreign languages also add an extra layer of privacy when you’re on the phone in public.
- When you hear someone having difficulties communicating, you may be able to step in and help. There’s no better feeling than the look of relief and gratitude on someone’s face when you come to rescue them through translation.
Learning a second language benefits you, your business, and the clients whom you interact with. You have the power to make someone else’s home-buying experience feel safe. Don’t overlook that opportunity.
Do you speak a second language?
Share the perks below!
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.