REcolorado confirms interim CEO, new board

There were various other prospective customers besides MAZL and the MLS itself, the organizations validated. “Both boards and leadership groups evaluated a number of legitimate offers for the sale of the REcolorado shares,” the statement stated.

The transitional board of directors consists of the current Chief executive officers of the organizations that have REcolorado: Brendan Bailey of Denver City Association of Realtors (DMAR) and Melissa Maldonado of South City Denver Realtor Association (SMDRA), in addition to Jessica Reinhardt, past president of DMAR, and Janet Marlow, past head of state of SMDRA.

What the associations had to say: DMAR and SMDRA increased down on their previous declaration that selling now will certainly raise defenses from commissions lawsuits and affirmed their commitment “guaranteeing that there will be no interruptions during or after the finalization of this sale,” they claimed in their own new FAQ.

When will additional details of the letter of intent be shared? “The legal requirements and responsibilities of the sale procedure avoid us from sharing extra details right now. Our commitment to every of you is to share those details asap.”

“After a lengthy and thorough evaluation, consisting of assessment with our Association advise and Merging and Purchase advice, we figured out that this offer ideal fulfills the long-term needs and services of our participants.”