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SMDRA News
July 8, 2024

Update on the Pending Sale of REcolorado to MAZL, LLC – July 8, 2024

Dear SMDRA Members, We are writing to our members today to address and provide as much information as we can about the pending sale of REcolorado, despite a Non-Disclosure Agreement (NDA) that limits certain details. We understand your concerns and confusion. This transaction represents a significant development for the industry, and we acknowledge the high […]
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July 2, 2024

Proposed Sale of REcolorado – Frequently Asked Questions – Update 07-09-24

DOWNLOAD THE LATEST FAQs DOCUMENT Are DMAR and SMDRA in an agreement to sell their respective shares of the REcolorado MLS?After extensive conversations with the respective boards, including research and evaluation of long-term options, the Denver Metro Association of Realtors® (DMAR) and the South Metro Denver Realtor® Association (SMDRA), the shareholders of REcolorado, have agreed […]
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June 28, 2024

For Immediate Release: REcolorado Sale – Additional Information

FOR IMMEDIATE RELEASE Brendan Bailey bbailey@dmarealtors.comMelissa Madonado melissa@smdra.com DMAR and SMDRA remove REcolorado Board Members in unanimous, joint resolution as shareholders announce agreement to sell REcolorado to MAZL, LLC DENVER – June 28, 2024 – As complete shareholders of Metrolist, Inc./dba REcolorado, the Denver Metro Association of Realtors® (DMAR) and South Metro Denver Realtor® Association […]
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June 25, 2024

Joint Statement on the Prospective Sale of REcolorado

Joint statement from the South Metro Denver REALTOR® Association and the Denver Metro Association of REALTORS®, respectively. First and foremost, we want to apologize to each of you as our members that we were not able to share the news of what has now been reported in industry publications regarding the proposed sale of REcolorado®. Unfortunately, […]
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May 3, 2024

UPDATE: Settlement Agreement – Upcoming Practice Changes in MLS Policy

Ahead of our upcoming REALTORS® Legislative Meetings in Washington, D.C., we wanted to share key details of the required practice changes under our Settlement Agreement. These practice changes result in revisions to the MLS policy handbook which are summarized below. The revised policies will go into effect on August 17, 2024. A more detailed explanation […]
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April 24, 2024

Litigation Update: Motion Filed for Preliminary Approval of Settlement Agreement – 04-23-24

The National Association of REALTORS® has shared an additional update with us regarding the motion for preliminary approval in the settlement. They shared with us over the weekend that the Plaintiffs’ counsel filed a Motion for Preliminary Approval of this agreement with the federal court in the Western District of Missouri. Today, Judge Bough granted […]
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April 9, 2024

Real Estate Insiders Podcast – NAR’s Next Move

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March 21, 2024

VIDEO: Litigation Update from Kevin Sears, NAR President – March 21, 2024

Fellow Members, Earlier this week, I filmed a VIDEO to discuss the key considerations and terms of the settlement agreement we recently announced to resolve home seller litigation. I also highlight the great work our advocacy team is continuing to progress on behalf of our members and the consumers they serve. I encourage you to watch […]
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March 20, 2024

UPDATE: Correcting the Record – NAR Does Not Set Commissions

Following recent inaccuracies in media coverage, including the false representation or suggestion that the National Association of REALTORS® (NAR) requires a standard 6% commission, NAR has issued the following statement: The National Association of REALTORS® (NAR) does not set commissions – they are negotiable. The rule that has been the subject of litigation requires only […]
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March 19, 2024

Breaking News: NAR Reaches Agreement to Resolve Home Seller Class Action Lawsuits

The Sitzer-Burnett verdict and the copycat cases filed across the country have raised questions about the way real estate professionals do their jobs and how consumers can hire and compensate us. Since the litigation began, we have worked consistently to reach a resolution with the plaintiffs. In the months since the Sitzer-Burnett verdict, we redoubled […]
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