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Course Objectives
1. Present a snapshot of the changing face of the real estate industry
2. Increase adaptability to market trends that can affect profitability
3. Become more effective service providers and community leaders
Learning Outcomes
1. Analyze U.S. demographic information2. Examine cultural stereotypes, assumptions
and biases3. Explain how inclusion practices will increase
your business4. Identify effective communication methods
that lead to improved service of a multicultural clientele
9
Learning Outcomes (continued)
5. Summarize the One America Principles and Fair Housing Laws
6. Describe a variety of business norms and etiquette considerations for working with multicultural clients
7. Develop a plan to incorporate inclusive practices into your business
9
• The Story of Your Name• About Me
OPENING EXERCISE
10
Section 1: Learning Objectives
1. Discuss the importance of diversity2. Explain how cultural sensitivity can increase
business3. Describe how certain values are viewed
differently by different cultures4. Examine stereotypes, assumptions and
biases
13
Diversity Definitions
– Culture– Ethnicity– Race– Minority – Generations– LGBT– Religion/Faith– Handicapped/Disabled
15
Black/African-American Hispanic-/Latino-American Asian-American White/Caucasian-American
RACE AND ETHNICITY
15-16
Is the U.S. a “melting pot” or a “stew”?
Why?
GROUP DISCUSSION
16
Generation Years Other NamesKey Formative
Events and Experiences
Civics (combination of two generations)
1901-24 (GI Gen)1925-45 (Silent Gen) Traditionalists, Greatest Generation
The World Wars, the Great Depression, GI Bill, the birth of television, the rise of the
suburbs
Baby Boomers 1946-64 Me Generation, Hippies, Love Generation
JFK assassination, Vietnam War, Cold War, Civil Rights
movement, rise of the counterculture
Generation X 1965-79 Xers, Baby Busters, Slackers
Hyperinflation and economic turbulence, Fall of Berlin Wall and Soviet Union, troubles in
Middle East, decline of “nuclear family”
Millennials 1980-95 Generation Y, Generation Next, Echo Boomers
Dawn of the Internet, 9/11, Hurricane Katrina, emergence
of mobile technology and social media, 2007-8 financial
meltdown
Generation Z (no agreed-upon name) 1996-present iGen, Global Generation,
Generation Wii
Election and re-election of Barack Obama, Arab Spring and turmoil in Middle East
(too soon to tell?)
“Home Buyer and Seller Generational Trends,” NAR
Research 17
LGBT
• Lesbian, Gay, Bisexual, Transgender• Diverse in terms of race, ethnicity,
age, education, political affiliation and income
18
Additional Categories
• Religion/Faith• Handicapped/Disabled
As with LGBT, these categories show “diversity within diversity,” as they vary in terms of race,
ethnicity, age, education, political affiliation and income.
18
Year U.S. White Black Asian Hispanic (all races) Other
2010(actual)
308,745,538 223,553,265 38,929,319 14,674,252 50,477,594 12,481,334
2020(projected) 335,805,000 260,629,000 45,365,000 17,988,000 59,756,000 11,822,000
% Change 8.90% 16.58% 16.53% 22.58% 18.38% -5.28%
Total U.S. Population by Race and Ethnicity
19
Source: 2010 U.S. Census
Impact of International Buyers
20-21
1. Using your laptop or tablet visit: www.realtor.org/global 2. Locate the International Business Report for your state.
International Real Estate Research Reports State by State International Business Reports
3. Once you find it, start filling out the table on Page 22.
EXERCISE: GLOBAL IMPACT
22
Changes in Buying Power
The $1.2 trillion Hispanic-American market in 2013 was larger than the entire economies (2012 GDP measured in USD) of all but 15 countries in the world.
In 2013, the combined buying power of African-, Asian- and Native-Americans was about $1.9 trillion.
By 2018, approximately 1 out of 5 Americans will be Hispanic and the total buying power of that group will be $1.6 trillion.
23
Source: The Selig Center, University of Georgia
Stereotypes, Assumptions and Biases
Generalizations are useful, as long as they don’t become rules
Use words like “many” or “some” and avoid words like “all” or “none” when talking about individuals/groups
Summarizing allows us to be open to revising our opinion
24
Write one stereotype you have heard for each group on a sticky note and place the sticky notes on the appropriate flip-chart pages.
The stereotype can be positive or negative.
EXERCISE: STEREOTYPES
25
The Role of Culture
• Culture is learned behavior, beliefs, attitudes, values and ideals shared by a group of people.
• Culture impacts how we view the world.
• Culture is the most basic cause of behavior and desire.
• Culture is hard to change because it is formed over a lifetime.
26
Categories
• Self expression• Outlook on life• Racial attitudes• Honesty and
reliability• Character• Time orientation
• Social classes• Religion• Orientation to
nature• Group objectives• Work ethic• Talents and skills
26-27
Honest vs. Loyalty
Rank them in order of importance.
Why did you put one over the other?
GROUP DISCUSSION
28-30
Section 2: Learning Objectives
1. Discuss the One America Principles and Fair Housing laws
2. Describe the Philosophy of Inclusion
3. Review the Equal Service Model
4. Examine Fair Housing cases
33
Read the case study on page 35.Do you believe this is an example of aFair Housing violation? Why or why not?
EXERCISE: FAIR HOUSING CASE STUDY
35
The One America Principle
One America Principle
Celebrate
Differences
Embrace Shared Values
Opportunity
Responsibility
36-37
Beginning on Page 39, answer “True” if you believe the action is a Discriminatory Act or “False” if you do not believe the action is discriminatory.
EXERCISE: DISCRIMINATORY ACT OR NOT?
39
▪ Defined as the unlawful practice of guiding potential homebuyers toward or away from certain kinds of neighborhoods and/or housing based on their belonging to one of the protected classes.
▪ Can be positive or negative, and in some cases can be prompted by the buyers themselves. In any event, this is illegal under the Fair Housing Act.
Steering
40
Typical violations:
–Selective use of geographic placement, media outlets and human models in advertising.–Actual discriminatory language in ads.
* Note: There are a few exceptions to this.Check local, state and federal laws to find out
if your listing may qualify.
Advertising
41
Article 10 of the NAR Code of Ethics:Reaffirms NAR’s commitment to Fair Housing
Outlines REALTORS®’ unequivocal commitment to equal opportunity in housing
Includes sexual orientation and gender identification in the list of ways REALTORS® will not discriminate
NAR Code of Ethics
42
YES
YES
YES
1. Do I have systematic
procedures?
Equal Professional Service Model
2. Do I have objective
information?
3. Has my customer
set the limits?
4. Have I offered a variety of choices?
NO
44-46
EXERCISE: PROFESSIONAL DEVELOPMENT
Read the exercise on page 47.
Devise at least one strategy for educating and cultivating inclusion practices among your colleagues.
47
Business Building Block:Personal Practice
In an effort to provide equal service, we must begin to think of the type of questions we ask potential clients. In each of the categories beginning on Page 50, create questions that can be used with any customer.
50
Section 3: Learning Objectives1. Discuss the significance of understanding cultural variations
2. Explain the influence of culture on the home buying process
3. Describe the role of verbal and non-verbal communication
4. Demonstrate appropriate cultural business etiquette
53
High Context vs. Low ContextPrevalent in: Asia, Russia, Middle East, Latin America, Southern Europe
Prevalent in: United States, Canada, Northern Europe
Nonverbal communication is important.
Precise verbal agreements are important.
A contract is the basis of a relationship.
A contract is binding and exists apart from a personal
relationship.
Time is fluid and schedules tend to be flexible.
Time is treated as a commodity and schedules are observed.
Formality, face-saving communication and relationships
are valued. A slower pace is needed to build relationships.
There is a preference for informality and direct communication. Results
are valued and punctuality is observed. Accustomed to doing
business fast-paced. 55
Non-verbal Communication
80-90% of a culture is reflected in non-verbal communication.Are there any non-verbal messages that can be considered universal? Are there any positive non-verbal signals in your culture that would be considered an insult in others?
56-57
Comparing Cultures
Self and Space Time and Time Consciousness Relationships Communication and Language
58-60
EXERCISE: COMPARING CULTURES
Step 1: In each of the four areas, review both columns and underline the characteristics that best fit your culture.
Step 2: In each of the four areas, review both columns and underline the characteristic that would likely be most challenging.
Step 3: How can you adapt?
58-60
Different Perspectives
• Numbers
• Location and Orientation
• Offers and Contracts
61
Build Cross-Cultural Communication Skills
• Pay attention to the person as well as the message• Don’t assume you know what the other person
wants• Emphasize and create rapport• Share meaning• Request info in a way that doesn’t inhibit the
person’s response or create bias
62-63
Top 10 Basics for Multicultural Business Norms and Etiquette
1. Talk less, listen more
2. Be sure to use correct names and titles
3. Show deference to the elderly
4. Learn at least a few phrases in a client’s native language
5. Respect the concept of “face”
6. Don’t try to create an instant friendship
7. Use common sense
8. Do not make jokes
9. Show appreciation for the other’s customs, music and art
10. Acknowledge mistakes and apologize when appropriate63
Business Building Block:Exposure To Other Cultures
To enhance our understanding of diversity, this exercise requires you to:
1.Identify two ways you will learn more about and/or experience other cultures.2.Describe the action steps you will take. 3.Establish a plan for completing the action steps.
65
Section 4: Learning Objectives
1. Summarize the importance of understanding the local market
2. Find sources of local demographic information and analyze the data
3. Describe the dynamics of multicultural marketing
69
Local Demographic Trends
Identify trends to expand your business
Develop needed services for different cultural dynamics
Remain mindful of Fair Housing Law
70
Demographic Do’s and Don’ts Don’t use your findings as a basis for treating certain people
differently or providing less service
Do use the information to understand, reach out and expand your efforts
Don’t provide demographic information directly to clients (instead refer to a reliable source)
Do stay current on state and local laws on the collection and use of demographic data
71
1. Using the circle on Page 72, estimate the population percentages of your market.
2. Visit one of the sources in your course book to find the actual percentages.
3. How did you do on your estimate?
EXERCISE: LOCAL DATA
72
A new international business is coming to town.
After reviewing the case study on Page 73, your job is to identify how you should best prepare for the increase and change in real estate needs and the diverse client base it may bring.
EXERCISE: A NEW MARKET
73
Multicultural Marketing
– Learn as much as possible about that culture– Do not assume all minorities are alike– Be careful when translating– Use native-language media appropriately– Consider recruiting sales associates and staff who
speak the language
74-75
Multicultural Marketing (continued)
– Be sensitive of cultural slurs, clichés and taboos– Be prepared to educate– Consider hiring a marketer who specializes in a
particular culture– Explore ways to get involved in the community
74-75
Community Outreach
• Immediate family• Friends and neighbors• Places of worship• Medical professionals• Schools and teachers• Government offices
• Local media• Attorneys• Bankers• Retailers• Other service providers• Multicultural real estate
professionals
76-78
Advertising and Fair Housing
• What do potential customers think your ads say?
• Is it possible the ad excludes any potential prospect or group?
• With regard to property ads, does the ad focus on the attributes of the property OR on the person who might own/rent the property?
79
Read the exercise explanation on page 81. Create a marketing plan that promotes homeownership to this growing minority population.
EXERCISE: MARKETING HOME OWNERSHIP
81
Business Building Block:Local Data and Advertising
Three major areas were covered in this section. In this exercise, you will be asked to:
1. Identify what other local market data you will use to grow your business
2. Describe how and when you will expand your community outreach
3. Review and modify (if necessary) your current advertising
82
Section 5: Learning Objectives
1. List business goals that reflect the One America Principles2. Summarize the variables within an inclusive business plan3. Develop strategies that reflect a commitment to
inclusiveness4. Produce an action plan
85
Translate Into Goals
Services, Customers and Clients
Reaching the Community
Professional Development
The Company
86
Services, Customers and Clients
Promoting homeownership
Promote listings
Marketing listings and obtaining buyers
Obtaining listings
Facilitating closing
86
Reaching the Community
Getting to know the community
Getting the community to know me
87
Professional Development
Improve language and communication
Increase cross-cultural awareness
Develop cross-cultural relationships with potential customers and other multicultural businesses
87
The Company
Recruiting and hiring
Training
Providing administrative support
Developing a company image
87-88
Read the exercise explanation on page 89. Devise strategies for increasing the visibility of you and your company within a particular community.
EXERCISE: REACHING A NEW COMMUNITY
89
Your Business Plan People Resources Services Plan Components
90
People You Your company Potential buyers, sellers, renters,
landlords Your community
90
Resources Time Money Real estate skills Cultural skills and awareness
90
Services Listing properties Communications Marketing Servicing skills Community outreach
90
Plan Components Mission and goals Strategies to attain the goals Action plans to implement the strategies
91
Sample Strategies for Inclusive Business Plans
• Marketing Homeownership• Working With Buyers• Marketing Listings• Improving Post-Contract Assistance• Prospecting and Listing Sellers• Reaching Your Community• Developing Professional Skills• Fostering Inclusion Throughout the Company
92-94
Read the exercise explanation on page 95. Come up with strategies for fostering inclusion within your company.
EXERCISE: DEVELOPING INCLUSIVE STRATEGIES
95
There is no value without goals, or without action plans to reach those goals. What actions will you take, and when will you take them, to achieve your goals?
LAUNCHING YOUR PLAN
96
Business Building Block:Launching Your Plan
In this final Business Building Block exercise, you will be asked to:
1.Review the Business Building Block Exercises from each section2.Establish measurable diversity goals for yourself and your business3.Develop actions to reach your goals
96-97
Thank You!