REcolorado has taken an enormous step towards transferring on from its controversial sale earlier this 12 months. The Denver-area MLS has named a brand new CEO in Dana Bennett, who returns to REcolorado after an 18-month stint away from the corporate.
Bennett’s most up-to-date position on the MLS was as vice chairman and chief enterprise growth officer, and she or he initially joined REcolorado as director of built-in options in 2012.
“Dana brings the best mixture of native market experience and powerful trade relationships — precisely what we’d like as we form a brand new path for the way forward for our trade,” Joseph Burks, REcolorado’s new proprietor, stated in a press release.
“Her ardour for being a collaborative MLS associate is unmatched, and her fame for integrity and management is well-known all through this market. After talking with high professionals throughout the nation, it was clear that Dana uniquely possessed the qualities we had been in search of.”
REcolorado touts Bennett’s expertise with MLS content material licensing and actual property information compliance, which might be related given the newest controversy across the MLS.
After Burks bought the MLS in June, REcolorado rolled out a revised participation settlement to its members. The settlement seems to grant REcolorado possession of the information that itemizing brokers enter into the MLS — information that historically is owned by these brokers.
REcolorado’s earlier management and quite a lot of brokers in Denver warned that one of many motivations for Burks shopping for the MLS was to amass its information. The brand new participation settlement — and probably Bennett’s promotion — solely fuels this worry.
Lengthy-simmering tensions between REcolorado and the 2 Realtor associations that beforehand owned it — the Denver Metro Affiliation of Realtors (DMAR) and the South Metro Denver Realtor Affiliation (SMDRA) — boiled over this 12 months when DMAR and SMDRA introduced their intention to promote the MLS. The associations cited uncertainty within the trade brought on by antitrust lawsuits towards the Nationwide Affiliation of Realtors and quite a lot of brokerages and MLSs.
The earlier management at REcolorado believed that they had a handshake cope with DMAR and SMDRA in February, solely to be stunned when the Realtor associations introduced the sale to Burks. The previous management group believed that DMAR and SMDRA weren’t negotiating with them in good religion as a result of the entity that purchased the MLS — MAZL LLC — was fashioned in January.
Shortly after, DMAR and SMDRA fired REcolorado’s board of administrators and management, claiming {that a} leak to the true property weblog Vendor Alley in regards to the sale got here from the board and violated a confidentiality settlement.
The sale to Burks was made official final week. REcolorado signed a knowledge sharing settlement with 4 different MLSs in January, and it’s unclear how the brand new participation settlement may have an effect on these offers.
“I’m excited to convey recent insights from my earlier roles at REcolorado and different
organizations to assist propel the corporate into its subsequent chapter,” Bennett stated in a press release. “I’m keen to attach with brokers to grasp their wants, and implement initiatives that improve our information choices.
“On this extremely aggressive time for the MLS trade, I see this as an unbelievable alternative to not simply navigate the challenges, however to make use of them to raise REcolorado — creating worth for our subscribers and companions whereas positioning us for fulfillment.”
