Kyle Handy August 2019 Income Report

August 2019 Income Report

August 2019 Income At-A-Glance

Gross Income for August: $30,248.52

Total Expenses for August: $3,826.06

Total Net Profit for August: $26,422.46

Difference Between july & August: +$10,693.55

% of Net Profit to Overall Gross Income: 87%

August 2019 Income Breakdown

Real Estate Sales Income: $23,963.20

  • 310 County Road 267 – $11,460.00
  • S. Flores St. #101 – $6,703.20
  • Tabak Trail – $5,800.00

eXp Realty revenue share Income: $5,406.78

  • Agents at Month End = 174
  • New Agents = 12
  • $ / agent = $31

Other Income: $878.54

  • Mentor and Patreon Income

Total Gross Income for August: $30,248.52

Business Expenses

  • Brokerage Fees: -$140.00
  • Education/Dues/Travel: $605.78
  • Marketing/Advertising: $1,682.07
  • Office Supplies/Operations: $674.40
  • Payroll Expenses: $700.00
  • Technology/Systems/Tools: $303.81

Total Expenses for August: $3,826.06

Payroll to Kyle: $4,306

Total Net Profit for August 2019: $26,422.46

August Summary

Income Overview

Total income for August, $30,248.52, was 3% below my year-to-date monthly average total income of $31,177.35. 

I closed three transactions. One was a listing from a builder account of mine, one was a referral from an out-of-state agent, and the last one was from a past client referral.  eXp Realty Revenue share was $5,406.78.  This brings me to a total revenue share for the year of $55,972.44.  A net of 12 agents joined my organization this month, bringing my total agent count to 174 agents.  I personally netted zero agents for August (added one, lost one) keeping my total at 40 agents personally sponsored.

Expense Overview

Total expenses for August, $3,826.06, was 55% below my year-to-date monthly average of $8,592.23.

The main contributing factors to this were brokerage fees, office operations, and technology were all below average for the month.

I hit my commission cap at eXp Realty in june.  Since that time, I’ve earned 100% of my commission.  This has contributed to lower fees.  Additionally, I spotted a double payment that had been occurring on my $85 / month monthly eXp fees for a few months.  eXp credited back my account this difference so my fees were actually negative for the month.

At $674.40, Office operations were over $1000 less than average.  This is due to the fact that I can officially say my company is DEBT-FREE.  I was paying around $500, on average, in interest on a credit card for the business that has now been paid off.  Additionally, I spent about half what I normally spend on supplies for the month, $250 vs. $500.

In June, my technology expenses had risen to over $1200 per month.  I made it a point to start canceling subscriptions of things I didn’t need or use as much and lowered that amount to just over $600 in July and now $300 in August.  I feel pretty good where this total is at.  Although, I do plan to experiment with a couple new systems since I’ve freed up a substantial amount of budget here.

Net Income Overview

Overall, net income for the month, $26,422.46, was 17% more than my year-to-date monthly net income average of $22,585.12.  It’s pretty cool to see net income as a percentage of total income at 87%.  Moving forward, I’d like to keep my expenses at around 20% of total income, or around $6,000 per month.

Kyle Handy

Would You Like To Partner With Me?

Check out my Partner Page for details on the benefits of working with me at eXp Realty. I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country, increase their business & build additional revenue streams. Together, we can make this year your best yet!

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