By: E&P Staff A.H. Belo Corp. led a $2 million round of financing in the online real estate broker Sawbuck Realty, which Wednesday began rolling out in markets where the Dallas-based company publishes dailies.
"We're excited about the support from Belo," Sawbuck CEO and co-founder Guy Wolcott told Belo flagship The Dallas Morning News. "This investment gives us the resources we need for further Web site development and to continue national expansion."
Wednesday, Sawbuck will launch its real estate search services in the greater Los Angeles and Inland Empire markets of Southern California, where Belo publishes The Press-Enterprise in Riverside. Sawbucks will become part of the Morning News' dallasnews.com Web site in early August, and in October plans to launch a site in Rhode Island, where Belo publishes The Providence Bulletin.
Because Sawbuck is a real estate broker, it can list all Multiple Listing Service properties in a market.
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. The site promises to pay $1,000 if a client finds a better mortgage and closing-cost deal than it offers through its partners, a company announcement said.
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