SANTA ANA, CA—Familiarizing multicultural buyers with US real estate practices is behind First American Title Insurance Co.'s multilingual library, the firm's strategic VP Maria Valentin tells GlobeSt.com. The process involved in purchasing a home here can be very different from that of the buyer's country of origin, she explains.

As GlobeSt.com reported last week, First American Title has launched a comprehensive multilingual website and in-language video library to help multicultural consumers pursue homeownership and navigate the title and closing process in the US. The firm developed the website and video library in response to growing demand from multicultural and international communities, and it points up the increasing influence of foreign buyers in the US real estate market.

“The title and closing process for real estate transactions can be really confusing for consumers, and especially those who are coming in from other countries and are unfamiliar with the way real estate is done in the US,” says Valentin. “We decided that an educational website would be the best way to teach consumers about the process in a language that they're comfortable with, probably their dominant language.”

Valentin says the firm subscribes to Geoscape, a company that supplies demographic information, and discovered that roughly 55 million people in the US speak a language other than English at home. “We really wanted to address their needs. Multiculturals, whether American citizens or foreign, want to achieve the American dream.”

Also significant is the fact that in some multicultural families the acculturation may be different among generations living in the same household. “Grandparents may not speak English, parents may speak both and children may speak primarily English,” Valentin says.

She adds that the firm finds Orange County to be a strong area for multicultural homebuyers. “The multicultural owner-occupied projected growth in the next five years is going to be about 13%. That's an additional 31,000 or 32,000 more owner-occupied multicultural transactions here.”

Aside from the language differences, even if buyers from other countries are familiar with the way real estate is done in their own country, they may not be aware that it's done completely differently in the US, Valentin adds. “Many countries don't provide title insurance, but that's very important for us because title insurance gives us such peace of mind. Educating the consumer about what they're paying for with title insurance was important. We really wanted to accomplish this with the website because they have no point of reference. Explaining the different types of insurance and what title insurance is is important.”

The firm's new multicultural video library is another great learning tool for buyers, says Valentin. “We find that many times the consumer would prefer to listen and look at the video rather than read. We're excited to be able to provide both, and we feel it will be a real hit with the consumer.”

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.