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Epique Realty vs Colwell Banker

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In the ever-evolving real estate landscape, selecting the ideal brokerage is a pivotal career decision for agents. It transcends mere licensing; it’s about aligning with a partner that provides optimal support, resources, and opportunities for success. Amid numerous options, our goal is to offer a thorough overview, aiding real estate professionals in making well-informed decisions about their future.

The following article will explain the similarities and differences between Coldwell Banker and Epique Realty in the following categories:

• Overall Agent Benefits
• Technology Comparison
• Fees & Splits
• Training & Mentorship

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Technology Comparison

From a tech perspective, Coldwell Banker has invested heavily in this area, implementing the CBx Suite of services offered to all agents, regardless of their broker office. While the list of features is impressive, less tech-savvy agents have struggled with utilizing this system. Additionally, the CRM provided to Coldwell Banker agents is not free.

“Epique’s unique, industry specific AI suite is designed specifically for real estate agents.”

Epique offers an industry-first AI certification course tailored for real estate, free for every Epique agent. The course covers information on how to utilize the Epique AI toolset, including Broker AI, Coach AI, Support AI, Transaction AI, Realtor Bio, blog posts, newsletter campaigns, and more. Canva Pro and SocialBay are also offered to Epique agents, at no additional cost. Lastly, Epique’s proprietary platform, Epique Cloud, gives agents’ access to sales dashboards, one tap benefits requests, and company updates with a social media flair and the convenience of a mobile app.

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Commission Splits & Fees

Because each broker office under Coldwell Banker is franchised, their agents can expect to pay the franchise fee of 6.5% as well as a standard desk fee of $150. Commission split parameters are based on agent experience, where new agents can expect to pay 50% of their commission. The split reduces to 40% once the agent has achieved $90,000 gross commission income (GCI), and further reduces to 35% at $150,000 GCI. Coldwell Banker does not offer opportunities for their agents to CAP and receive 100% of their commissions. E&O/insurance/broker review all come with a fee, as well. 

“At Epique, agents don’t have to wonder or worry about their commission checks, because there are no hidden fees or additional splits.”

At Epique, agents keep 85% of their commission with an opportunity to receive 100% through a declining cap. This cap starts at $15,000 for first year Epique agents, and declines by $1,000 each anniversary year for 5 years, to $10,000. The monthly technology fee starts at $149/month with the option of paying for the year up front for a reduced price of $99/month. Since Epique is an independent brokerage, there is not franchise fee. Epique agents never pay E&O, insurance or broker review fees, either. 

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Training & Mentorship Comparison

Coldwell Banker offers new agent training opportunities, and while they say it’s free, the agent is still on a 50/50 commission split until they’ve achieved $90,000 CGI. New agent training provided by Coldwell Banker is through both in-person mentorship, contingent on individual broker offices, as well as online, pre-recorded training sessions. Coldwell Banker also offers a plethora of in-house, pre-recorded training for marketing, lead gen, and a variety of other topics for rookie and veteran agents. 

“New agents shouldn’t have to give up almost half of their commission to receive guidance and support”

Every Epique agent is automatically assigned a qualified mentor and knowledgable area leader in the onboarding process. This ensures new agents are provided necessary leadership and direction to navigate their real estate career. Epique also equips all agents with pre-recorded and advanced training to advance their career. Additionally, Epique agents can take advantage of in-person or online Continuing Education courses to maintain their license and stay up-to-date on new laws and regulations. 

 

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TLDR

Coldwell Banker has some impressive training and technology with their CBx suite, but new agents start out on a 50/50 commission split, plus 6.5% franchise fee, and no opportunity to cap. With Epique Realty, agents receive free leads, free listing photos, digital billboards for agents and their listings, free headshots, free car washes, free healthcare, free TCs, the first and only industry AI certification for free, a robust AI toolset including Broker AI, Coach AI, Support AI, Transaction AI, and Realtor Bio; Canva Pro, SocialBay, Epique Cloud, Lofty CRM, IDX Agent Website, new agent training, new agent coaching, no cost advanced training, free CE courses, free ongoing mentorship, no broker review fees, no E&O fees, lower and declining commission caps, 85% of their commission, and all for the low, low price of $149/month ($99/mo paid annually).

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