Two Seattle companies are hoping that they can help streamline the way people buy or sell homes. DocuSign announced today that agents at Redfin — the fast-growing real estate brokerage firm — will use its electronic signature technology during transactions.
It’s a big win for DocuSign in its hometown, and interestingly enough comes just a few weeks after the Northwest Multiple Listing Service endorsed a competing electronic signature technology from Authentisign.
Earlier this year, DocuSign declined to comment on why the NWMLS went with a rival service. In a press release this past summer, NWMLS CEO Tom Hurdelbrink said that: “Authentisign will enable our members to provide their clients with a secure and efficient method for electronically executing contract documents.”
Redfin, which operates in 18 markets and just scored $14 million in fresh cash, certainly has been at odds with the NWMLS throughout its history. And because of that, it’s not a total surprise that it would choose to take its own course, especially when given the opportunity to partner with another Seattle-based startup.
And, of course, since Redfin operates in markets across the country, it too must choose a product that works well in various locations. Jim Lamb, senior product manager at Redfin, said they found that service in DocuSign.
“With DocuSign, Redfin customers can complete their entire transaction on their own terms, at their own convenience,” he said. “These are documents that should be signed to the sound of corks popping, not fax machines beeping.”
DocuSign has long worked with various real estate companies, and its service is the exclusive eSignature provider of the National Association of Realtors. DocuSign reported last week that usage of the product by NAR members has doubled over the past year.
Redfin is backed by Madrona Venture Group, Vulcan, Draper Fisher Jurvetson and others. DocuSign raised $27 million in venture financing last December from Ignition Partners, Scale Venture Partners, Sigma Partners, salesforce.com and others.