REColorado, Colorado’s largest multiple listing service (MLS), has officially been acquired by MAZL, LLC., a company created by Joseph E. Burks, an equity title firm executive. The sales price was not disclosed, but the acquisition was said to bring significant value to the MLS platform, according to Brendan Bailey, CEO of the Denver Metro Association of Realtors. This acquisition came after the previous owners were ousted for leaking a deal with a local investor named “J.Burks,” causing uncertainty among local real estate agents.
Ohio-based real estate technology company MRI Software had made an unsolicited offer to buy REColorado, but Burks aims to collaborate with the existing team to strengthen the company further. He promised to keep the platform affordable for its 26,000 subscribers, protect listing data, and remain competitive with its services. The goal is to continue providing industry-leading technology and support to members in the ever-evolving real estate landscape.
The news release highlighting Burks’ commitment to maintaining REColorado’s reputation as the foundation of Colorado’s residential real estate community was met with optimism from Melissa Maldonado, CEO of the South Metro Denver Realtor Association. With new ownership and management, members can expect continued success in using the MLS platform for their real estate needs.
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