By John Voket
With the increasing number of multicultural consumers pursuing homeownership, I was happy to learn how one company is responding to the needs of this new wave of real estate consumers with new and helpful web-based services.
First American Title Insurance Company, a subsidiary of First American Financial Corporation has launched its new multilingual website and online video library, FirstAmMulticultural.com, to help multicultural consumers navigate the real estate title and closing processes in the United States.
According to news from the company, First American Title developed the website and video library provides easy access to educational real estate videos and resources in six languages, including English, Spanish, Chinese, Japanese, Korean and Vietnamese catering to 78% of those who speak a language other than English at home.
Maria Valentin, vice president, First American Title explained that the title and closing process in the U.S. is very different than it is in the rest of the world, and many multicultural customers are seeking greater familiarity with it.
As multicultural buying power in the U.S. is expected to increase significantly in the next few years, this multilingual website and video library aims to help bridge cultural, ethnic and language barriers, and provide a valuable resource for individuals looking to make their homeownership dreams a reality.
The six languages currently offered at the website were chosen because they represent those most often spoken in U.S. homes where English is not the primary language. Those in-language website and videos cover the following topics:
*Buying or selling a home
*What is title insurance?
*10 common title problems
*Types of title insurance policies
*Cost of title insurance
*History of title insurance
*What is escrow?
*Understanding the Good Faith Estimate
*Understanding the HUD-1 Settlement Statement
*The title search process
*What is a 1031 exchange?
*Homestead Act in Texas
First American Title also includes interactive workshops on cultural intelligence, designed to educate real estate professionals on how to best serve the real estate closing needs of multicultural communities.
Reprinted with permission from RISMedia. ©2014. All rights reserved.