Closing date to be announced in 2018
As we wrap up 2017, we are pleased to report plans for REcolorado and IRES to merge are moving forward. Discussions are continuing between the two organizations, and are now focused on the details in the binding Agreement to Merge signed earlier this year. We now expect to close in 2018.
As you have requested, the merger of REcolorado and IRES will create a single MLS that will serve approximately 26,000 real estate professionals in the greater Denver Metro Area and northern Colorado. It will bring substantial benefits to you, which you can pass on to home buyers and sellers. Benefits include comprehensive data, a broad set of technology tools and services, and a powerful consumer-facing website.
Once the deal is closed, a quick, thoughtful and collaborative approach to integrating the two MLS organizations will begin.
We continue to be optimistic and look forward to a productive and successful 2018.