New Year’s Update: REcolorado – IRES Merger
Merger talks between REcolorado and IRES 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 all 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 quick, 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 and remain confident we will achieve our goal of 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. In the meantime, you are welcome to contact our Customer Service teams or your REALTOR Association if you want more information.
Related Post: REcolorado and IRES Continue Merger Talks
It would be fabulous to see you expand this merger to include the entire state of Colorado. Since we are licensed in and through the state it would be to our clients advantage to provide them with current information in other areas for second homes, etc., to avoid them turning to Zillow, Trulia and Realtor.com in order to obtain the information they need. Many times our clients are “only looking” so their areas are too vast in which to recommend another Realtor familiar with the area. They need to find their areas first and when utilizing the other options, we lose them as clients since we can’t provide the needed services and/or information.
Thank you,
Carla
Recolorado offers 6 months free to IRES members yet when Recolorado members sign up for IRES during the known merger, IRES did not offer the same 6 month free option. Please address this as the merger has been stretched longer than expected and many of us are paying for both applications awaiting the merger. Thank you.