BrokerageIndustry News

Sawbuck Realty expands to Los Angeles

Company gets $2 million in round of financing

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Sawbuck Realty today announced an expansion to the Los Angeles area, including Los Angeles and Orange counties and the Inland Empire. The company has rolled out new features on its redesigned Web site and also announced that it has closed on $2 million in a round of financing, which will be used to drive further expansion and improve the company's Web site. A.H. Belo Corp led the financing round. Launched in January 2008 in the Washington, D.C., area, Sawbuck Realty offers mortgage and closing services through third-party providers and subsidizes a portion of those costs for its buyer clients. Sawbuck promises to pay $1,000 if a client finds a better mortgage and closing-cost deal than it offers through its partners. The company has in-house agents who work with buyers and has launched a partner agent network through which sellers can work with outside listing agents and receive a 20 percent refund from the listing commission at closing. Among the new Web site features that ...