The discussions between IRES and REcolorado and now moved forward to a firm commitment to merge according to a news release from IRES today.

There is now a binding merger agreement between the two MLS. The merger agreement has been signed by Lauren Hansen, CEO of IRES, and Kirby Slunaker, president and CEO of REcolorado, and has received approval from both the REcolorado Board of Directors and the IRES Board of Managers.

The shareholders are expected to review and vote on the merger agreement in the coming weeks.

REcolorado’s shareholders are Denver Metro Association of REALTORS, South Metro Denver REALTOR Association, and Aurora Association of REALTORS®. Shareholders of IRES are Boulder Area REALTOR® Association, Fort Collins Board of REALTORS®, Greeley Area REALTOR® Association, Longmont Association of REALTORS®, and Loveland Berthoud Association of REALTORS®.

It is expected that with shareholder approval, the process of integrating the two MLS organizations, including the products and services, as well as all listing data, would begin shortly thereafter.