The Sawbuck Difference

…From Traditional Real Estate Brokers

Sawbuck is a licensed real estate broker, but not like one you've seen before:

Sawbuck: Web site gives you transparent access to the MLS data, including active listings, contracts and recent sales. We give you powerful tools to interpret and analyze this data. And we do it with no strings attached.
Traditional Broker: Shows as little as possible on their site. Their goal is to direct you to an agent for detailed information. And once they know you're looking, good luck getting free (you've become a lead).

Sawbuck: Advisors are available by phone, e–mail and live chat to answer your questions—with no obligation, even anonymously—during the early stages of your search. But when you are ready to tour homes or discuss neighborhoods, Sawbuck partners with the best local buyer's agents, regardless of their parent broker.
Traditional Broker: Primary mission is to recruit new agents, so they've got plenty. And the business is set upto direct as many buyers as possible to these newer, lower–volume agents. Most buyers never benefit from the knowledge and experience of the brokers' top agents.

Sawbuck: Partnered with Bank of America to offer you a mortgage rate guaranteed to be the best deal in the market. Sawbuck makes no money on mortgages. We actually subsidize every transaction so you get a below–market rate with rock–bottom closing costs.
Traditional Broker: Almost all of the largest brokers have an in–house mortgage company, a joint–venture or a “marketing alliance” with a lender. In each case, the purpose is the same: to pay the real estate broker for “capturing” business for the lender. Agents (especially the newer ones) can be pressured to send business to the company store.

Sawbuck: Pre–negotiated on your behalf with leading settlement companies to drive down your closing costs. Sawbuck makes no money from settlements.
Traditional Broker: Most have an affiliated business agreement (ABA) or in–house title company. The purpose is to profit from your settlement—a legal kickback to the real estate broker. With more hands in the till, costs rise. First–time buyers are especially susceptible here, because they often know far less about settlements and trust their agent to direct them.

Sawbuck is an online broker, but not really a "discount" broker:

Sawbuck: Partners with top local buyer's agents in your target community. You work with experienced, proven agents who know the community, neighborhood and homes. Their local knowledge, experience and reputation help you find a better home at a better price. Listing agents know them by name and take their offers seriously, knowing they only represent earnest, qualified buyers.
Discount Broker: Has a handful of phone–based agents covering a massive metropolitan area. These agents write contracts at your behest, but may never see the house itself, and will probably never meet you. Sellers and their agents often look down on offers made through discount brokers. They assume (often correctly) that such buyers are bargain hunters looking to shave every dollar; they worry about surprises before closing.

Sawbuck: You get the lowest mortgage rate and lowest closing costs—guaranteed. You save thousands of dollars upfront and hundreds every year for the life of the loan.
Discount Broker: Offers to rebate a portion of the buy–side commission—somewhere between 20% and 50%. But read the fine print—most are scaling back their rebates, especially for lower–priced properties.

Sawbuck: You work with top local agents selected for their outstanding, personal service. They personally accompany you on home tours, accommodate your schedule and keep their ear to the ground for properties you might not have seen (and maybe aren't even in the MLS yet). In addition, Sawbuck Advisors are available by phone, e–mail and live chat at any time to answer questions or solve problems.
Discount Broker: To keep costs down, discount brokers must keep a tight rein on service. Most limit home tours, force them into pre–planned blocks of time or actually charge for them. And even then, it's only a licensed door–opener; not someone who knows anything about the house or neighborhood. You will likely never meet the agent writing your offer.

Sawbuck: We've lined up an unbeatable mortgage deal for you, guaranteed.
Discount Broker: Most have no mortgage offering, other than a few “recommended” loan officers. Some are starting to introduce for–profit mortgage operations, either in–house or through marketing alliances—just like the traditional brokers.

Sawbuck: We’ve pre–negotiated on your behalf with leading settlement companies to drive down your closing costs. Sawbuck makes no money from settlements.
Discount Broker: With some, you're on your own for settlement; others refer you to settlement companies that charge unnecessary fees and markups.