Casa Latino, one of the first real estate franchises to target the Hispanic home buyer, has received approval to start offering franchises in California. According to the company's press release, the franchise royalty model "encourages a variety of agent compensation programs which enhances a broker's ability to recruit agents."
On Saturday, the Hartford Courant profiled the Connecticut-based company. According to Robb Heering, founder of Casa Latino, Hispanics are particularly vulnerable "to unscrupulous real estate brokers and lenders who induce them to buy homes they can't afford."
"We're trying to help create the Latino middle class in America," Heering said. "That's best done through homeownership. Our goal is, we can do well by doing good."
More than half of the 12 million Hispanic households were homeowners in 2005, compared with 48 percent of 9 million Hispanic households in 2000, notes the paper. In 20 years, the National Association of Hispanic Real Estate Professionals estimates that 40 percent of first-time home buyers will be Hispanic. Casa Latino certainly isn't alone in the space; late last year, Coldwell Banker launched Casa Coldwell Banker.
· Casa Latino [casalatino.com]
· Casa Latino Sets Sights on California [PR Leap]
· Helping Hispanics Buy Their Homes [Hartford Courant]