Fatmouthnews.com - Cross Marketing for Real Estate Agents

An article in Realtor Magazine featured Steve Saunders. He started a company, www.fatmouthnews.com/, that sends out e-newsletters to specified email lists when a group of local businesses want to split marketing costs and get out to a broad market.

The concepts seems simple and fairly inexpensive. Has anyone used the service? If so, how has it worked?