ARE THERE ONLY FIVE HOME-BUYING TRIBES?

Realtor Magazine* cites an interesting article by a marketing company who segmented homebuyers into five “tribes”-- in which they promise that consumers will recognize themselves as at least one. They believe real estate salespeople can target their advertising based on the following tribes:

Tribe One: Achievers. 25% of the market. Pacesetters in business. Professional, ambitious, hardworking, family oriented and “outer directed”, taking clues from those they admire. The home they seek is high-end and reflects their success with luxury amenities and au-pair lodgings. Marketing to this tribe requires a sophisticated, low-key approach that appeals to status.

Tribe Two: “Authenticks”. 20% of the market. Highly educated, white-collar professionals, creative entrepreneurs, individualistic and community oriented. This tribe is environmentally concerned and world conscious. Their home is a “retreat” to unwind and pursue personal interests with open, airy floor plans. These homes are expensive and give a connection to nature. Marketing for this tribe is relationship based, relying on personal connections and referrals.

Tribe Three: Heartlanders. 20% of the market. This tribe is the guardian of traditional values: family, country and community. Usually small business owners or managers, this tribe is comfortable in sub-divisions. They enjoy traditional American home styles reflecting their locale, such as Cape Cods and Colonials. The Heartlanders need support and “hand holding” while home buying. They have an aversion to change and don’t want to be rushed.

Tribe Four: Trenders. 20% of the market. Early career strivers who want to become Achievers, this tribe is usually unmarried, young and style conscious. Trendy neighborhoods and urban locations outweigh a home’s design, though they’ll appreciate a vintage or contemporary home priced right in a convenient locale. Marketing to Trenders requires techno-savvy tools to sell the sizzle. Most of all, respect their opinions. Don’t come off as a parent-figure.

Tribe Five: Self-Sufficients. 15% of the market. Same income bracket but older than Trenders. Practical. Independent. Lean toward tradition style homes, but design isn’t critical. They consider fixer-uppers and like being close to recreation. When marketing to this tribe, stress value and comfort. Fancy features or statistics don’t impress. They like knowing a home’s hidden potential.

Do you think these five tribes accurately represent the buyer’s market? Would you delegate your buyers to any of these tribes—and be comfortable with this label and marketing strategy? Let me know what you think.

Very best,
Julie Jones

*REALTOR Magazine. September 2008. Page 29.