The MLS will be sold to a newly formed private company, thus breaking away from its ties to the real estate brokerage organization. Broker Larry D. McGee will serve as interim chief executive.
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The nation’s 16th-largest multiple listing service now has a new CEO as it works to complete a surprise sale that would separate REColorado from its relationship with a local Denver real estate brokerage group.
In an update Monday, MLS announced that Novella Real Estate owner and managing broker Larry D. McGee will serve as interim chief executive during the transition period. McGee is the former Chairman of the REColorado Board of Directors.
The MLS will also include a transitional board of directors that will include:
- Brenden Baily, CEO, Denver Metro Association of REALTORS
- Jessica Reinhardt, Past President, Denver Metro Association of REALTORS
- Melissa Maldonado, CEO, South Denver Association of REALTORS
- Janet Marlow, former president of the South Denver Association of Realtors
Updates are provided on the FAQ page The date is June 30. The first they reported was real estate news.
The temporary board was installed a few days after the previous board fired on friday. McGee will succeed Gene Millman, who served as MLS president and CEO before news of the sale broke.
REColorado said in its update news of proposed sale Being “leaked” violated the confidentiality agreement with the buyer.
The buyer was identified as MAZL, LLC, which was registered in Colorado as J. Burks in January.
REColorado’s owner has provided very little information about the new owner, leaving a veil of mystery. However, some have speculated that the buyers include a group of senior executives from real estate services companies near Denver — a hypothesis that the address appears to support.
The address listed by MAZL is in the same building as MetroBrokers Elite. The suite is also shared with brokerage services firm Re-Sure, Inc.
No contact information is provided on Re-Sure. There was no immediate response to questions sent to an email address on Hana Software’s website. Industry insider Greg Robertson first made the connection between the companies involved in one case. Sunday Blog Post In Vendors Lane.
Representatives for REColorado also did not immediately respond to a request for comment Tuesday. Inman also contacted DMAR and SMDRA last week asking for more information about the mystery buyer, but that request also went unanswered.
REColorado said in its FAQ that it could not provide a date or more details on when the proposed sale would close and declined to provide further details.
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