Friday Flash: DocuSign grows, IDX fees explode and Eliot Spitzer drops wisdom

Zillow sent an email to a bunch of MLS execs last week pitching the idea of moving from the Move-owned syndication platform ListHub to a direct MLS-to-Z listings feed.

The reaction was swift.

It reminded me of this quote from Eliot Spitzer:

“Never write when you can talk. Never talk when you can nod. And never put anything in an e-mail.”

DocuSign, a company that’s been pushing e-signatures in real estate for the past seven years, announced a massive funding round that places rockstar VC Mary Meeker on their board.

This company started early on a big problem that desperately needed solving, went through tough times, came through them, and now seems poised to grasp the brass ring.

Congratulations to them.

I’ve been hearing a lot of complaining in the broker and vendor world recently about skyrocketing IDX fees. This week I heard a couple of stories (which I can’t repeat) that were just mind-blowing.

If I’m running an MLS and facing a revenue crunch, I’d raise my core agent subscription fee before I’d mess with vendors and brokers. The fee an agent pays for MLS access is usually pretty reasonable. And frankly, they ain’t going anywhere.

Pissing off brokers in an environment where whispers of defection from the MLS abound seems considerably less attractive.

Please comment if you think I’m off base.

Agents, here’s a FSBO just waiting to be turned…

Wired reports that the owner of a massive Malibu estate has employed an unorthodox marketing plan to sell her home:

  1. Give away iPads with a custom app highlighting the home to potential buyers
  1. Spend an estimated $300,000 on a property video
  1. Price the home four times higher than it should be priced


Go get ‘er!

Have a great weekend.

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