DMAR Announces Membership Meeting to be Held July 29th

We have actively listened to your feedback over the past week and have made the decision to reschedule our July 17th Membership Meeting for an in-person meeting on Monday, July 29th. (Please note, the July 17th class - Scott Peterson’s 10 Things for Realtors®: Legal Topics - will still be held virtually through Zoom).

July 11, 2024

Dear DMAR Members,

We are writing to provide another important update regarding the pending sale of REcolorado and the next steps for our members.

We have actively listened to your feedback over the past week and have made the decision to reschedule our July 17th Membership Meeting for an in-person meeting on Monday, July 29th. (Please note, the July 17th class - Scott Peterson’s 10 Things for Realtors®: Legal Topics - will still be held virtually through Zoom).

The rescheduled membership meeting will take place on Monday, July 29th at DMAR HQ from 8:00 AM to 9:00 AM.

During this session, DMAR representatives will provide an overview of the pending sale, followed by a member vote on three proposed bylaw revisions including one that impacts the pending sale of REcolorado. DMAR requires at least 1% of the Realtor® membership to vote* and a majority vote of those present at the meeting.

While our legal counsel has affirmed that the DMAR and SMDRA Boards of Directors have adhered to all proper procedures and their appointed representatives have been granted full authority to negotiate the sale of the MLS, we are involving our members in this critical decision to ensure everyone is engaged in shaping the future of the MLS and our Association.

An information packet, including proposed revisions to the bylaws, will be sent to members via email at least one week prior to the membership meeting, as stipulated by our current bylaws. This packet will also contain detailed reasoning for each proposed change to ensure members are well-informed before the meeting.

The membership meeting on the 29th will be the primary venue for this discussion and the only opportunity to vote. Registration is required and can be made here.

It is important to clarify a rumor circulating about the MLS sale being scheduled for July 15th. As stated in our recent communications, we are still in the due diligence process and specific timelines for the sale have not been finalized.

As many of you know, the decision to sell REcolorado comes during a significant transformation in the real estate industry. Decoupling the MLS from our Realtor® Associations aims to protect REcolorado from ongoing antitrust and collusion litigation in response to the National Association of Realtors® settlement and improve its management. Partnering with MAZL, LLC, the pending buyer, will enable us to leverage their expertise and resources, enhancing the services and technological advancements available to our members. This move allows our Associations to focus on providing education, advocacy and resources, while the MLS operates as a separate entity. Our goal is to maintain stability and expand the MLS's offerings to meet the evolving needs of the industry, ensuring REcolorado remains a foundational component of our real estate community.

Your support and trust are crucial as we work towards enhancing our services and maintaining the integrity of our community.

We look forward to seeing you at our meeting on July 29th.

Sincerely,
Brendan Bailey, DMAR CEO
Jen Routon, DMAR President