Most Recent News Regarding Failed Front Range MLS Merger

For the last 18 months, REcolorado, as well as shareholders of REcolorado and IRES, have made a merger a top priority. Despite IRES shareholders, REcolorado shareholders, and the REcolorado Board of Directors approving the merger, it was the IRES Board of Managers who derailed the deal. And in the interest of full disclosure, we want to let you know why.

The IRES Board of Managers continued to make conditional demands, including:

1) the addition of a withdrawal provision that would give them the ability to walk away from the merged company after one year. (Could you imagine selling a home with a clause that rendered the contract null and void if the new homeowner chose? Yea…not a good idea.)

2) that REcolorado and IRES continue to operate separately. This meant our subscribers would continue to use two systems, operate under two sets of rules, and pay two bills for at least a year. (We’re assuming that doesn’t sound like a merged company to you either.)

REcolorado is 100-percent committed to moving forward with merger negotiations if the IRES Board of Managers would agree to remove these provisions.

Despite this roadblock, REcolorado is moving forward with its vision of one MLS on the Front Range and beyond designed to serve the best interests of real estate professionals and their clients. And you can help. If you share this vision, we encourage you to contact your Association, REcolorado Board of Directors, and IRES Board of Managers and tell them you want one MLS for a long-term solution to provide consolidation which is the best for brokers and agents. Visit MLS of the Future to learn more.