REcolorado, the largest multiple listing service (MLS) in Colorado, announced the completion of its acquisition by MAZL LLC, a private company created for the purpose of purchasing the MLS.
In a statement, MAZL said REcolorado will retain its established brand identity will “maintain competitive MLS fees, ensuring cost-effective access for its 26,000 subscribers.” The financial terms of the acquisition were not disclosed.
“We are committed to ensuring that REcolorado not only remains the foundation of Colorado’s real estate community but continues to set the standard for excellence and innovation as a subscriber-focused MLS,” stated Joseph Burks, president of MAZL. “As a market leader, REcolorado has always been at the forefront of delivering top-tier services. Our goal is to collaborate closely with its exceptional team to strengthen the company even further, ensuring it continues to deliver MLS services that bring unparalleled value to its subscribers and their clients, adapting and innovating to meet the evolving needs of today’s real estate professionals.”
REcolorado is used for more than three-quarters of Colorado’s home sales. The Denver Metro Association of Realtors (DMAR) and South Metro Denver Realtor Association (SMDRA), which previously owned REcolorado, fired the MLS’ board of directors ahead of the sale after it questioned the sale to MAZL, which is backed by a private equity firm J. Burke Private Capital.
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