MLS & Associations

‘Aggressive’ deadline set for thorny MLS merger in Colorado

  • The MLSs will hash out a 15-point road map towards joining forces.

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Colorado’s two largest multiple listing services -- REcolorado and Information and Real Estate Services (IRES) -- have signed a letter of intent to merge, the MLSs announced in nearly identical blog posts Wednesday. The agreement appears to signal a thawing in months-long tension. After IRES rejected its surprise multimillion-dollar buyout offer in January, REcolorado cut off a data share between the two MLSs. The discord illustrates that the road to consolidation is often slow, bumpy and infused with politics. In this case, the unrest prompted 20-plus large brokerages in the state to put pressure on a deal, while a third-party -- T3 MLS -- was called in to mediate "highly charged" merger talks. With the letter of intent, T3 has seemingly shepherded the MLSs one step closer to the altar. If the MLSs were to combine, they would join the ranks of mega MLSs forming as part of a real estate industry trend toward consolidation. The newly formed Bright MLS in the Mid-Atlant...