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April 2020 Income Report

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by Kyle Handy       Updated May 12, 2020

april-2020-income-report

April 2020 Income At-A-Glance

Gross Income for April: $14,150.54

Total Expenses for April: $3,034.22

Total Net Profit for April: $11,116.32

% of Net Profit to Overall Gross Income: 79%


Income Breakdown

Real Estate Sales Income: $2,400

  • Monument Oak - $2,400

Other Income: $11,750.54

  • revenue share - ,532.41
  • Affiliate - $218.13

eXp Realty Revenue Share Group:

  • Net Personally Sponsored Agents = 3
  • Personally Sponsored Agents = 39
  • Net Total Agents = +12
  • Total Agents = 235

Total Gross Income for April: $14,150.54


 Expense Breakdown

  • Auto: $42.66
  • Brokerage Fees: $630.00
  • Education/Dues/Travel: $0
  • Marketing/Advertising: $139.18
  • Office Supplies/Operations: $1,260.32
  • Payroll Expenses: $230.48
  • Technology/Systems/Tools: $731.58

Total Expenses for April: $3,034.22

Payroll to Kyle: $4,306

Total Net Profit for April 2020: $11,116.32


APRIL SUMMARY

Income Overview

Total income for April 2020, $14,150.54.  This was 46% lower than my average for 2019 of $26,533.45.  This was attributed to a lack of sales (only one small closing).  Fortunately, the revenue share carried me through the month as my team is continuing to sell homes, despite the current market.

Sales Income

In April, I closed one transaction. It was a sphere deal from a friend of mine in high school.  I helped him list and sell an unimproved property (land) of his.  This totaled $2,400 in gross commission income.

Revenue Share Team Income

My team, which consisted of 223 agents closed 82 transactions in march.  eXp Realty revenue share paid out in April totaled $11,111.20.  This time last year, the team consisted of 133 agents and closed 41 transactions which paid out $7,391.04 in revenue share.

A net of 12 agents joined my team this month.  This brings my total team count to 235 agents. Personally, I brought on 4 agents and lost 1, netting me 3 agents sponsored.  This brings my total personally sponsored agent count to 39.

Other Income

Other income totaled $218.13 and consisted of miscellaneous affiliate income.

Expense Overview

Total expenses for April, $3,034.22, were 40% below my 2019 monthly average of $7,995.77.

This decrease is due to Covid-19 and the stay-at-home orders.  Because I've been mostly working from home, Auto, business meals and entertainment, and travel were basically $0.  Additionally, having made just one sale for the month of April, brokerage dues and transaction management costs were down.  Finally, Marketing/Advertising and tech expenses have been significantly less compared to 2019 as I been making a conscious decision to simplify my business strategy and focusing mostly on organic traffic though my blog and youtube channel.

Net Profit Overview

Overall, net profit for the month, $11,116.32, was 40% less than my 2019 monthly net profit average of $18,537.68. This amount equals 79% of the total income for the month.

Compared to April 2019, net profit for 2020 was around $1,300 less.  This isn't bad considering sales income was nearly $10,000 less.  This is due to the fact that I've decreased expenses nearly $4,000 and my revenue share team income is up $4,000 compared to the same time last month.

Overall, not the best month for sales.  All things considered with the state of the current market, it's still nice to be able to pull in a profit for the month. It's uncertain how long the market will continue to be effected for.  At this point, my recommendation is to keep costs low and focus on doing a few things really well. 

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