Epique Realty vs eXp Realty
The following article will explain the similarities and differences between eXp and Epique Realty in the following categories:
- Overall Agent Benefits
- Technology Comparison
- Fees & Splits
- Training & Mentorship
Overall Benefits Comparison
Let’s begin with the top priority for all agents: customer leads. While eXp does not offer agents any direct support sourcing lead generation, there are plenty of independent agent affiliate groups promising lead acquisition training. Agents with Epique have multiple ways to acquire free leads. Epique also supplies free listing photos, free digital billboards for agents as well as their listings, free headshots, and free car washes; none of which eXp offers.
“Benefits are scarce in real estate, but Epique seems to have them in spades”
Now let’s discuss the healthcare benefit. eXp does offer agents healthcare, but the cost can range from $1,000 to $10,000 per year. Epique offers its agents free healthcare and free generic prescriptions. Lastly, Epique offers transaction coordinator service free of charge from contract to close. eXp, like most traditional brokerages, utilizes outsourced TC services that typically charge up to a $500 fee per transaction that the agent is responsible for.
Technology Comparison
Moving on to tech. Both eXp and Epique boast a 100% cloud based virtual brokerage. For agents that prefer the flexibility to work from home, this is truly the best option. Both provide Lofty (formerly Chime) CRM and an agent website. But the similarities seem to end there.
“Epique has truly disrupted the brokerage industry with more tech than any of their competitors”
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.
Commission Splits & Fees
Next up: eXp vs Epique commission splits and fees. Let’s begin with eXp’s fee structure. The startup fee to join eXp is $149 with an $85/monthly Cloud Brokerage Fee, $40/month Lofty (Chime) fee, $25 broker review fee per transaction, and a $40/transaction risk management/E&O fee that caps at $500. Epique’s fees include a technology fee of $149 billed monthly, with an option to pay the whole year up front for a $99/month reduced cost. And commissions? eXp takes 20% while Epique’s cut is 15%.
“Epique is super transparent with agent fees. I don’t need a magnifying glass to read a bunch of fine print.”
eXp offers a commission cap of $16,000, where Epique’s cap starts at $15,000 and declines by $1,000 each anniversary year for 5 years, to $10,000. The transaction fees at eXp cap at $250/transaction and reduce to $75 once the total transaction amount reaches $5,000. Epique’s transaction fee is 0.1% of the transaction up to a $500 cap/transaction, reducing to $250 once the total transaction amount reaches $5,000. Agent coaching is not provided through eXp, however mentors can offer their paid coaching services at an additional cost to their mentees. With Epique, there’s no charge for agent coaching. Read on to learn more about eXp’s “Mentor Program.”
Training & Mentorship Comparison
At eXp, new agents who have not completed 3 transactions within 12 months prior to joining are automatically enrolled in the “Mentor Program” and should expect to pay a 20% “Program Fee” for each transaction. This fee is calculated from the gross commission, reducing their capped amount, and in addition to the 20% company split. Furthermore, new agent participation is required until they “graduate” from the program, which is contingent on their mentor’s approval. Epique offers a dedicated mentor for every single agent, free of charge, indefinitely.
“New agents shouldn’t have to give up almost half of their commission to receive guidance and support”
New agents of both eXp and Epique receive training, through daily, pre-recorded, and 3rd party training opportunities. Epique also offers free virtual or in-person CE courses, while agents at eXp are responsible for educational costs associated with maintaining their license themselves.
TLDR
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). At eXp, agents should expect to see less of their commission, more fees, and minimal support… unless they pay for it.