Breaking News: REColorado Severs Ties with Realtor Organizations, Sells to New Company

Introduction

The real estate world is abuzz with news that REColorado, the 16th-largest multiple listing service (MLS) in the United States, has separated from its ties with local Realtor organizations and sold to a new company. This significant change will likely have far-reaching impacts on the real estate industry in Denver and beyond. In this article, we’ll delve into the details of the sale, the new CEO, and what this means for the future of REColorado.

The Sale

The new owner of REColorado is MAZL, LLC, a company registered with the state of Colorado in January 2024 by an individual named J. Burks. The buyer has remained relatively anonymous, with few details revealed about their identity or background. According to an industry insider, Greg Robertson, MAZL may be connected to a group of executives from real estate services companies in the Denver area.

New CEO and Transitional Board

Larry D. McGee, the owner and managing broker of Novella Real Estate, has been appointed as the interim CEO of REColorado during the transition. McGee has previously served as chairman of the REColorado board. The MLS has also established a transitional board of directors, consisting of:

• Brenden Baily, CEO of the Denver Metro Association of Realtors
• Jessica Reinhardt, past president of the Denver Metro Association of Realtors
• Melissa Maldonado, CEO of the South Metro Denver Realtor Association
• Janet Marlow, past president of the South Metro Denver Realtor Association

Background on REColorado

REColorado is one of the largest MLSs in the country, providing listing and sales data to over 20,000 real estate agents and brokers in the Denver metropolitan area. The organization has been affiliated with local Realtor organizations in Denver, but the recent sale marks a significant departure from this relationship.

Reaction to the Sale

Industry insiders and real estate professionals have been vocal about the sale, with some expressing concern about the lack of transparency and uncertainty surrounding the new ownership. Inman, a leading real estate industry publication, first reported on the sale, sparking a wave of speculation and debate among industry stakeholders.

Conclusion

The sale of REColorado to MAZL, LLC, is a significant development in the real estate industry, marking a new chapter in the MLS’s history. While the details of the sale are still emerging, it is clear that this change will have far-reaching implications for real estate agents, brokers, and consumers alike. As the industry continues to evolve, it is essential to stay informed about these changes and adapt to the new landscape.

Frequently Asked Questions

Q: Who is MAZL, LLC?

A: MAZL, LLC is the new owner of REColorado, a company registered with the state of Colorado in January 2024.

Q: What is the role of Larry D. McGee?

A: Larry D. McGee is the interim CEO of REColorado during the transition, having previously served as chairman of the REColorado board.

Q: What is the composition of the transitional board of directors?

A: The transitional board consists of Brenden Baily, CEO of the Denver Metro Association of Realtors; Jessica Reinhardt, past president of the Denver Metro Association of Realtors; Melissa Maldonado, CEO of the South Metro Denver Realtor Association; and Janet Marlow, past president of the South Metro Denver Realtor Association.

Q: Can you provide more information about the new owner’s identity and background?

A: The new owner, J. Burks, has remained relatively anonymous, with few details revealed about their identity or background.

Author: www.inman.com

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