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How Real Estate Builds a Wealth Legacy for American Families

Home Industry News
Commentary by Oralia Herrera
June 21, 2023
Reading Time: 2 mins read
How Real Estate Builds a Wealth Legacy for American Families

Real estate is about more than simply helping someone buy or sell a property. It’s about creating a base from which a family can build a legacy. As their chosen agents, we must help them buy that first home and push them toward sustainable investments and success. By providing them with the tools necessary to build their wealth, we’re getting one step closer to closing the wealth gap in the Latino community. By brainstorming goals, helping set attainable targets and introducing our clients to others who have succeeded in realizing similar dreams, we make their own dreams feel that much more achievable.

Your best client is often the hungriest. Latinos, especially recent immigrants, want the most for their families and are willing to work hard and sacrifice for them. According to the State of Hispanic Homeownership Report, over the past decade, Latinos accounted for over half of the nation’s population growth and over 80% of labor force growth. In my business alone, I’ve helped over 800 Latino families start their investment journey and find homes, most of which were their first homes, some of which were eventually investment properties.

Reminding ourselves that this career is about more than just the commission we earn will be the driving force that elevates us from a broker/REALTOR® to confidant, someone whom people can always come back to for help. Obedience and care are just two stepping stones that will help you build a fruitful and lasting client relationship, taking that client and turning them into friends, and eventually even family.

Nothing beats market knowledge

Selling real estate is easier when you’ve gone through the process yourself. I became a homeowner at 18 and helped my parents buy homes as their interpreter before I got my license. I learned from doing. It’s also important to note that while seeking to build these lifelong bonds, one must not forget the reason a client has approached you to begin with: the expertise and guidance you can offer them in the real estate field. 

While one might assume the client is receiving the most out of these transactions, I fully believe that it has been me who has gained the most. I can honestly say each family I’ve had the blessing to help has poured their trust, friendship and love into me. They’ve molded me into the person I am today.

My years as a REALTOR® have taught me in more ways than I can count. Real estate will give you what you put into it. The more you work in the field, the more you will gain; however, I’ve come to learn that the greatest satisfaction this career will give you is seeing your clients achieve the financial freedom some only dreamed of and ultimately retire with dignity—all because you were able to help them invest in building a legacy. 

That is priceless. 

For more information, visit https://nahrep.org.

Tags: FeatureHispanic HomeownershipHomeownershipMLSMLSNewsFeedMLSSpotlightNAHREPReal Estate MagazineState of Hispanic Homeownership Report
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Oralia Herrera

Oralia Herrera is broker/owner of CENTURY 21 TK Realty Inc. and founding president of the National Association of Hispanic Real Estate Professionals’ (NAHREP) Chicago North chapter.

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