Since the beginning of 2022, interest rates have rapidly increased from 3% to 7%. The fastest increase in history. Resulting in a 29.5% drop in real estate transactions. During slow real estate markets, most real estate agents and companies hunker down to weather the storm by cutting expenses. Diamondback Real Estate, a Tucson based Real Estate Brokerage, decided to run headfirst into the storm by doubling down on their marketing. The result: a 285% increase in sales volume and expansion into the Phoenix market.
Diamondback Real Estate is a hybrid real estate brokerage and marketing agency. They not only operate as a traditional real estate brokerage, but they also offer unparalleled marketing for their clients and agents. This high-level marketing allows them to guarantee their clients’ homes will be seen by the most amount of people, resulting in their listings selling 60% faster, and for 2% more than the market average. They also use their marketing to find off-the-market properties for their buyers, which gives their clients more homes to choose from.
Diamondback Real Estate also works to build their agent’s brands. They believe their agent’s brand is more important than the brokerage’s brand. No one hires their agent based on what company they work for. They hire their agent based on who they are familiar with, who provided them with the most value, and who they get along with. That’s why the agent’s brand is more important.
Why the sudden increase in business? With the slowdown in the real estate market, other real estate agents and companies decreased, or completely eliminated, their marketing budget. Diamondback Real Estate increased theirs. Patrick Chamberlin, Broker/Owner of Diamondback Real Estate explained his reasoning for the somewhat risky move: “When other people stop spending money on marketing, it makes your marketing more efficient. And when something becomes more efficient, you feed it, not limit it.”
Diamondback Real Estate looks to replicate these amazing results in the Phoenix market. They opened their first Phoenix location at 1820 E Ray Road in Chandler last week. If you need any real estate services, or if you are a real estate agent looking to increase your business, you can reach out the Patrick directly at 520-345-4947.
