| Aspect | Bay Realty Michigan (Online Brokerage) | Coldwell Banker (Traditional Brokerage) |
|---|---|---|
| Brokerage Model | 100% Online Brokerage – No physical office requirements | Traditional Brick-and-Mortar – Agents typically work from physical offices |
| Commission Structure | Flat Fee per Transaction: - Experienced Agents: $500 per transaction (first 20 sales), then $200 per transaction - New Agents: $600 per transaction (first 20 sales), then transition to experienced agent plan | Varies by Experience and Office: - Starting Agents: Often a 50/50 or 55/45 split (agent/broker) - Experienced Agents: Potential for 60/40, 70/30, or higher splits, based on performance - Note: Commission structures can vary by franchise and individual negotiation |
| Franchise Fees | None – No franchise costs deducted from commissions | Typically 5% to 6.5% per transaction, depending on the franchise |
| Monthly Fees | None – No desk fees, technology fees, or office fees | Varies by office; some agents report fees ranging from $150 to $179 per month, which may include royalty fees |
| Client Transaction Fees | None – Clients are not charged transaction fees | Varies by office; some may charge a transaction management fee, with amounts varying by location |
| Additional Support | - Free Errors & Omissions (E&O) insurance - CRM tools - Website access - Online transaction checklists - Flexible work-from-home setup | - Comprehensive training programs - Marketing resources - Strong brand recognition - Mentorship opportunities |
| Work Environment | - Fully remote, online brokerage - No required office hours or desk fees - Agents can work from any location with internet access | - Traditional office setting - Office presence may be required, depending on the franchise - Access to in-person support and resources |
Brokerage Model:
Commission Structure:
Franchise Fees:
Monthly Fees:
Client Transaction Fees:
Support and Resources:
Work Environment:
In choosing between the two, agents should consider their preferred work environment, financial considerations related to commission structures and fees, and the value they place on brand recognition and support services.
Note: Specific details, such as commission splits, fees, and client transaction fees, can vary by Coldwell Banker franchise. Prospective agents are advised to consult with local offices for precise information.