We are pleased to report a group representing the eight shareholder/participating associations from REcolorado and IRES, as well as the chair of the Pikes Peak Association of REALTORS, has been meeting to discuss one Front Range MLS.
The group has been making progress. As they achieve milestones, they will be sharing communications that will be passed on to all REcolorado and IRES subscribers.
Their most recent meeting was held on May 25. A report issued by the group is below.
At the request of the 8 association presidents/chairs, a meeting was held last Thursday, May 25. In attendance were the presidents/chairs of the shareholder/participating associations, the chair of the Pikes Peak Association (they are not involved yet, but considering,) the CEOs of both IRES, and REcolorado, and the chairs of both MLS boards of directors.
The meeting was specifically held to create a strategic plan and deadlines to facilitate a merger between the two companies. T3, the original facilitator hired to start this process, provided a letter of intent that was signed by both parties. It included a 15-point roadmap that should help lead the way to this merger.
In the meeting, the first six points were addressed, deadlines given, and tasks assigned. The presidents/chairs will be focused on providing a list of facilitators and creating an ownership model. REcolorado and IRES will work together to create a core mission statement, provide financials to each other, and they will choose one of the facilitators identified by the association presidents/chairs.
Both companies have agreed to use a facilitator and are committed to the process of merging. Additionally, REcolorado and IRES agree to the common goal of having this completed by November 1, 2017. However, all understand the date may vary based on unforeseen challenges.
In the end, the meeting was successful, productive and efficient. Both companies have jumped right in to complete their tasks and we feel confident that we are on the road that will lead us to one Front Range MLS.