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Benefits, Fees, & Commission Schedule

This next section contains the terms of current benefits offered, fees owed, and terms of commission payouts. These terms may change at any time. You will be notified of any changes that may occur that alter this schedule.

DEFINITIONS

“Contractor” is an Agent, Broker, or Broker Associate that represents Epique Realty in a real estate transaction.

“Anniversary Date” is the yearly anniversary of the contractor joining Epique Realty. If a contractor leaves Epique and returns, the anniversary date will reflect the new return date as the contractor’s start date and all caps, awards, etc that come with longevity will be reset accordingly.

“the Brokerage” or “the Company” refers to Epique Realty, LLC

BILLING & CREDIT CARD FEES

 

Technology Fee: $99 per month:

Covers costs for all technology (websites, agent apps, CRM, transaction software, social media maintenance, etc.). 

 

Signup Fee: $99 (one time):

Covers costs for setup of all accounts, tech setup, business cards, marketing materials, onboarding concierge service, transaction coordinator setup, lead generation setup, social media setup, and more.

 

Processing Fee: $5.95

A processing fee not to exceed $5.95 may apply to transactions billed to credit cards.

 

Non-Refundable

All fees are non-refundable for any reason. Sales tax laws and regulations for each state determine if a fee is subject to sales tax. If applicable, sales tax is applied as a separate line item on Contractor’s statement.

Unused portions of any fees previously paid will not be credited/prorated. Unpaid fees, charges, repayments, and any other amounts Contractor owes to Company can and will be deducted directly from any and all of Contractor’s pending and future earnings that would otherwise be payable to Contractor by Epique Realty, LLC.

Benefits & Perks

Epique Realty offers several benefits to their contractors. These benefits may change, be revoked, or altered at anytime. Contractors are expected to make an effort to apply for these benefits in order to use them.

Due to local, MLS, software, or other restrictions all benefits may not NOT AVAILABLE IN ALL AREAS. This does not reduce any fees.

Benefits are included in the fees paid and do not incur any additional costs. Failure to use any benefit(s) will not reduce any fees expected or paid to the Company.

 

Current Benefits:

• Free Primary Direct Healthcare

• Free Prescriptions

• Free Mental Health Care
  Free Virtual Urgent Care (24/7)

• Free Company Stock

• Free Real Estate CRM Software

• Free Professional Photography for Listings

• Free Yard Signs for Listings

• Free Lockboxes for Listings

• Free Installation & Removal of Yard Signs

• Free Installation & Removal of Lockboxes

• Free Agent Branded Website

• Free Leads

• Free NFC Digital Business Cards

• Free Landing Pages

• Zazzle Marketplace (Business Cards, Folders, Swag, etc)

• Free Social Media Auto Posting

• Free Car Washes

• Free CE Courses (after being at the company 1 year)

• Free Headshots

• Free Digital Billboards

 

Notes: Agent website will be branded for agent and will be part of a subdomain of company site. Leads from the company directly are free in that they do not require any payment or additional referral fee. Leads may be generated from many sources. Additional leads may be provided by some third-party vendors who may charge a referral fee for some of the leads. Participation in 3rd party leads not required. CE Courses are purchased within 60 days of agent expiration and not before. Agents must be here 1 year in order to be eligible for free CE Credits. All benefits are where available. Some benefits not available in all areas, especially remote areas. Unavailability of benefit(s) does not reduce agent dues or fees. Some benefits are available upon request only. Please ask your mentor how to apply or request benefits. Benefits may change, be supplanted, or discontinued at any time without notice. 

Restricted Stock Awards (RSU). Epique Realty, at the Board's discretion now offers Restricted Stock Awards to agents in Good Standing with The Company.

 

This stock may be awarded for completion of tasks laid out below:

 

• Joining Epique Realty for the first time: 50 Shares or $500 worth of Stock (whichever is less).

• Anniversary Date: 50 Shares or $500 worth of Stock (whichever is less). 

• Recruiting an Agent: 25 Shares or $250 worth of Stock (whichever is less).

• Selling your first home with Epique: 50 Shares or $500 worth of Stock (whichever is less).

• Capping: 100 Shares or $1,000 worth of Stock (whichever is less).

• Power Agent Status: Up to 1,000 Shares or up to $10,000 worth of Stock (whichever is less) as commesurate with agent's curent cap (i.e. a $5,000 Cap = 500 shares of stock or $5,000 worth of Stock (whichever is less)).

 

 

Vesting. Stock is vested after 3 years from earned date. Upon termination, or voluntary separation, all unvested shares will be forfeited.

Costs. Ownership of shares issued under the Program may come with associated costs imposed by third parties, including, but not limited to, fees associated with restrictive legend removal and opinions needed therefore, Transfer Agent fees and fees that may be imposed by the equity broker of Participant’s choosing or others. This is not typical but may be exercised by third party providers or vendors.

Restricted Stock Units. Referred to as RSU's, these shares are a type of Common Stock. If you're unsure of what an RSU, or common stock is, please contact a financial advisor or legal advisor for questions.

Private Company. Epique is a privately held company and is not traded publicly. Future public offering will be pursued, but is not guaranteed.

Sale of Stock. As a privately held company, shares cannot be sold to any other party. Upon vesting, the Contractor may sell vested shares back to the Company. The value will be determined based on a Quarterly analysis of share cost.

Epique, Inc. (vs Epique Realty). Epique, Inc. is the corporate holding company for Epique Realty and other subsidiaries. Stocks issued are by Epique, Inc.

Consult an advisor. If you're unsure about stocks, vesting, shares, etc. please contact a financial advisor for assistance.

Ongoing Restricted Stock Awards may change at any time. The board of directors may opt to change the amount of stock awarded in the future, the method awarded, the reasons awarded, or the type awarded at anytime. You will be notified if and when changes take effect before changes are made.

POWER AGENT STATUS

Epique Realty, LLC at the Board's discretion has created another level of agent referred to as a Power Agent. The benefits of this program may change as the company grows and the program evolves..

 

This Level is Awarded the Following:

 

• Up to $10,000 in Company Equity Awards or 10,000 Shares in Company Stock (whichever is less). This number will represent the agent's current cap at the time of achieving Power Agent Status and is commesurate with agent's curent cap (ex: a $5,000 Cap = 500 shares of stock or $5,000 worth of Stock).

• Double Revenue Share (20%) for Recruits: Power Agents are eligible for Double Revenue Share on all of the agents in their First Level downline while they are considered Power Agents. They will get the regular 10% on any agents in their 2-5 levels. Agents must maintain Power Agent status to continue to receive double revenue share. 

 

 

To Qualify as a Power Agent:

 

• Invite Only. You cannot apply and do not qualify automatically for Power Agent Status without being invited by an Executive Member of the Epique Realty team. 

• 24+ Transactions OR $10 Million in Gross Sales

• Company Cultural Contributions. Shown a willingness to contribute to the organization and other agents through participation and trainings throughout the year. 

Commission & Transactions

Contractor shall be entitled to a commission on sales, rental/lease transactions, broker price opinions (“BPOs”) and referrals (collectively “Transactions”) as follows: income retained by the Company after referrals and concessions, but prior to commission split (“Gross Commission Income”), shall be split at an agreed upon rate to Contractor (“Contractor Dollar Amount”) and to Company (“Company Dollar”) on all Transactions closed by the Contractor.

 

Commission Minimum Split: 

Company will receive 15% of Gross Commission. An additional split may be paid through the Agent's Team Agreement.  The agent's commission may also be split in the event of a referral payout, loan repayment, or third party obligation by agent. Once agent hits their "Commission Cap", they will no longer be subject to a commission split from the company, but may be responsible for an additional split from their Team Leader. Should any transactions be subject to any state or local taxes, the split will be calculated after the tax is deducted.

 

Transaction Fee: 0.1% of the Gross Sales Price per Sale Transaction

This does not apply to residential leases. Transaction fees cap at $500 per transaction. Transaction fees are deducted from all transactions. Transaction fees paid do not apply towards commission caps or Power Agent level. Once capped, agents will continue to pay transaction fees on every transaction. In the event of multiple Epique contractors working the same side of a transaction, the transaction fee will taken off the top before the split is to occur.

 

Personal Transactions

A Personal Transaction is any Purchase or Sale for which Contractor has an ownership interest in the subject property, whether through Contractor’s own name, a spouse’s name, or a business entity or revocable trust that is owned and/or controlled by Contractor and/or Contractor’s spouse.

Personal Transaction Commission Split:

• 100% for 1 (ONE) deal per calendar year.
• The Personal Transaction does not carry a commission split but will still carry any fees including the 0.1% Transaction Fee all deals have.
• Personal Transaction commissions are not included in Revenue Share Plan calculations.
• Personal deals do not count towards Commission Caps or Power Status.
• Contractor may exempt up to one (1) Personal Transaction per anniversary year.
• Contractor must be in Good Standing with the Company (current on fees and/or amounts owed).
• Contractor’s Name, Trust, or Business Name must be on the title.

Retainment: All Commissions Paid to Brokerage

All fees, deposits, or monetary amounts requested from a client or potential client by Contractor which are designed to retain the professional real estate services of Contractor (“Retainer Fee”) shall be paid directly to the Company and be subject to any applicable splits. Agents cannot do any real estate transactions outside of The Company, under their own name (excluding The Company), or under any other company or broker.

NOTE: This simply means that any real estate deals you do must be done under Epique's name as the Broker. You cannot do "side deals" without the company's name or knowledge. Any deals done as an agent at Epique must be done as an agent of Epique.

Late Fees & Good Standing:

All payments billed to the Contractor from The Company for recurring payments, monthly Brokerage Fees, programs opted in, and any other fees billed or back-billed for reimbursement per written agreements and policies are due within 10 days from the date of billing.

Any billing that is more than 30 days past due will be assessed a minimum of $25 interest per month or the maximum amount allowed under state law.

If a Contractor’s account reaches 90 days past due/delinquent, the Company may terminate this Agreement and any/all pending commission payments, non-vested equity interest, non-vested benefits, unpaid revenue share, unpaid equity awards, unpaid profit share, and all memberships and associations shall be forfeited to the company.

Contractor agrees to pay Company in full any past due fees upon demand.

Company retains the right to deduct any fees and dues from payment of commissions, revenue share, funding source on file, or any other means necessary, any past due amounts of any kind, overpayments of commissions or revenue share and/or late fees assessed. Any unpaid balances shall be subject to collections and/or formal legal proceedings.

Additionally, all benefits, software, memberships, technology, etc will be suspended or access revoked upon termination, suspension, or until contractor is in good standing.

The Company reserves the right to adjust the fee schedule at any time.

BILLING:

Billed Immediately: $203.95

By continuing, and signing, I authorize Epique Realty to bill me $203.95 immediately using the billing information I have provided. This includes the First Month ($99) + Signup Fee ($99) + Processing Fee ($5.95).

Billed Monthly: $104.95

By continuing, and signing, I authorize Epique Realty to bill me $104.95 monthly using the billing information I have provided. This is $99 for monthly technology fee + $5.95 processing fee. This will be billed each month upon signing of this agreement. Agent agrees to notifiy company in writing to stop billing upon termination of the Independent Contractor Agreement. 

Chargebacks:

Agents may not submit chargeback requests to their financial institution for monthly billing they signed up for. Any fraudelent chargebacks that occur will be challenged by our legal team and Agent will be responsible for all fees, including legal fees and Recovery of Funds fees associated with Chargebacks.

Legal action for Theft of Services will be taken against those who commit this type of chargeback fraud and submitted to the local Constables office as such upon receipt of a chargeback.

Recovery of Funds:

All past due payments at time of departure are due immediately. Agent agrees to pay in full all amounts owed to Epique Realty upon departure, whether voluntary or involuntary. Agent will be responsible for any and all fees associated with the collection of these funds including, but not limited to: Collection Fees, Legal Fees, and Third Party Recovery Fees.

 

This form is not an offer of employment:

I understand that I have not been offered a position with the company or any of it's subsidiaries as either an employee, independent contractor, or otherwise. I understand, agree to, and consent that I am merely filling out an application and have not been formally invited into Epique Realty or any of it's affiliated companies.

 

Non-Compete Agreement:

I understand, agree to, and consent that if selected to join Epique Realty, LLC that I will not engage in activity with any other brokerage, or conduct any "side-deals" without the knowledge of my brokerage that would exclude Epique Realty, LLC without the express written permission from the company. All deals must be done with the brokerage's knowledge and involvement.

 

Non-Disclosure Agreement:

I agree to, consent, and understand the non-disclosure agreement. I understand, agree to, and consent that I will not share any information about the operations of Epique Realty with any competing company, any brokerage, vendor, or agent that works outside of the company without the expressed written permission from an executive of Epique Realty, LLC. This agreement extends beyond my tenure with the company and continues when/if I ever leave the company.

 

Code of Conduct

I agree to, consent, and understand the code of conduct agreement. I understand, agree to, and consent that I will conduct myself in compliance with the National Association of Realtors code of conduct, any state or local Realtor organization code of conduct, and the below. I will not engage in any public dialogue or discussion that is deemed racist, sexist, or prejudice in any way. As a Realtor I understand that I have a public and very visible position, and that the actions I partake in reflect the company as a whole. I will refrain from demeaning any group, including but not limited to those of particular races, genders, sexual orientations, political parties, real estate brokerages, other agents, et al. I also fully understand that it will be at the company's sole discretion to determine if my actions are in violation of this or NAR policies. I understand that I may be dismissed immediately from association of the company. I further understand that any monetary damages that come from my own actions may be sought legally by the company.