MLS & Associations

MLS cuts off data share after rejection of buyout offer

IRES proposes cooperation talks with MLSs statewide
  • Northern Colorado MLS IRES has declined a multimillion-dollar acquisition offer from its southern neighbor, REcolorado.
  • IRES said the offer did not serve its customers' interests and offered an alternative: discussions with MLSs throughout the state.
  • REcolorado said such conversations have already been taking place in the last 15 years and gone nowhere.
  • REcolorado informed IRES this week that it had decided to end a 14-year-old data share between the two MLSs, calling it "an impediment to our progress."

The ROI Producing Real Estate Event of the Summer
Reach top decision-makers at Inman Connect

Looks like Colorado's two largest MLSs won't be joining forces anytime soon. Information and Real Estate Services (IRES), the Centennial State’s second-largest MLS, has rejected a multimillion-dollar buyout offer from the state's largest MLS, REcolorado. Two days after IRES announced its decision, REcolorado informed its northern neighbor that on March 2 it would end a data share between the two MLSs that had been in place since 2003. More MLS and Realtor association mergers are likely this year and can bring with them economies of scale and better services for the agents and brokers that belong to them. But the discord between these two prominent MLSs illustrates why the road to consolidation is often slow and bumpy -- if it leads there at all. IRES says no On Dec. 7, REcolorado made an unsolicited seven-figure offer to acquire IRES. REcolorado, based in Greenwood Village in the Denver metro area, has about 20,000 agent, broker and appraiser subscribers. IRES, based ...