REColorado unveils interim CEO amid rocky ownership change

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The MLS is separating from ties with Realtor organizations by selling to a newly formed private company. Broker Larry D. McGee will serve as interim CEO.

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The 16th-largest multiple listing service in the nation now has a new CEO while it works to finalize a surprise sale that would separate REColorado from its affiliation with local Realtor organizations in Denver.

Larry D. McGee, owner and managing broker of Novella Real Estate, will serve as interim CEO during the transition, the MLS announced in an update posted on Monday. McGee is a former chairman of the REColorado board.

The MLS will also include a transitional board of directors, including: 

  • Brenden Baily, CEO of the Denver Metro Association of Realtors
  • Jessica Reinhardt, past president of the Denver Metro Association of Realtors
  • Melissa Maldonado, CEO of the South Metro Denver Realtor Association
  • Janet Marlow, past president of the South Metro Denver Realtor Association

The updates were provided in a frequently asked question page dated June 30. They were first reported by Real Estate News.

The temporary board was installed days after the previous board was let go on Friday. McGee will replace Gene Millman, who served as president and CEO of the MLS before news of the sale broke.

In its update, REColorado said that news of the proposed sale was “leaked” in violation of a confidentiality agreement with the buyer.

The buyer was identified as MAZL, LLC, a company that was registered with the state of Colorado in January by a person identified only as J. Burks.

REColorado’s owners have provided very little information about the new owner, leaving in place a shroud of mystery. However, some have speculated that the buyer includes a group of executives from real estate services companies near Denver — a supposition the address seems to support.

The address listed for MAZL is in the same building as MetroBrokers Elite. The suite is also shared with the broker service company Re-Sure, Inc. Re-Sure’s name was updated in January 2024, from Hana Software.

No contact information is available on Re-Sure. Questions sent to the email address on Hana Software’s website weren’t immediately answered. Industry insider Greg Robertson first made the connection between the related companies in a Sunday blog post on Vendor Alley.

A representative for REColorado also didn’t immediately respond to a request for comment Tuesday. Inman also reached out to DMAR and SMDRA last week asking more information about the mystery buyer, but that request also went unanswered.

In its FAQ, REColorado said that it couldn’t provide a date or further details about when the proposed sale would close, and it declined to provide further details.

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