Merger talks between IRES and REcolorado were ongoing throughout the end of last year and are in full swing, as we kick off 2018.
As reported previously, discussions are focused on the details of the Binding Agreement to Merge, which was signed by IRES and REcolorado last year. In addition, merger documents are being reviewed by attorneys representing all parties.
What are next steps? The IRES owners and REcolorado shareholders are meeting on January 29 to review merger documents and discuss any outstanding issues. Once all documents are finalized, they will be provided to the boards of each organization, and then the IRES owners and REcolorado shareholders for final approval.
Upon receiving shareholder & owner approval, a closing date will be announced. A thoughtful and collaborative approach to integrating the two MLS organizations will begin once the deal is closed.
IRES and REcolorado have heard from many of you asking, “What is taking so long?” We want to thank you for your ongoing interest and patience, as volunteers and MLS staff work through important details. Although the timeline has stretched, we are making progress toward creating a single MLS that will serve Denver Metro Area and northern Colorado, just as you have asked.
We will continue to keep you informed as new information is available.
5 thoughts on “IRES – REcolorado Merger Update”
All members ,should vote, as they are the ones paying for / using the services?
Why upper management&shareholders decide? If not for members, there would be no MLS…..
Thanks so much for weighing in, Monica. We are taking all feedback under consideration. Please know you can reach us here and through the feedback button located within IRESis.
In case this clarification helps, Monica, we are “members’ of a Board or Association of Realtors, and we are “subscribers” to IRES and/or REColorado MLS services. Unless things have changed since I was last involved, Directors are appointed by the Boards to represent members and provide guidance and governance to IRES. We can express our opinions directly to the Directors, or route comments to them through IRES by phone or online feedback as suggested by the IRES, LLC responder.
It would seem that it is in everyone’s interest to expedite the merger process. As a buyer’s agent who cannot access properties that are exclusively in IRES or a seller’s agent who cannot advertise the listing, who is the looser here? It is the consumer or general public whom we are taught to put first before our own interests.
Thanks for posting your views, Doug. We always appreciate feedback.