December 2019 Income Report

December 2019 Income At-A-Glance

Gross Income for December: $10,388.71

Total Expenses for December: $2,511.24

Total Net Profit for December: $7,877.47

Difference Between november & December: -$1,356.91

% of Net Profit to Overall Gross Income: 75%

Income Breakdown

Real Estate Sales Income: $4,650.00

• Senisa Dr. – $4,650.00

Other Income: $5,738.71

• Other income consists of eXp Realty revenue share, affiliate income, course sales, etc.

eXp Realty Revenue Share Group:

• Net Personally Sponsored Agents = +1
• Personally Sponsored Agents = 37
• Net Total Agents = +4
• Total Agents = 192

Total Gross Income for december: $10,388.71

 Expense Breakdown

• Brokerage Fees: $360.00
• Education/Dues/Travel: $454.91
• Marketing/Advertising: $735.72
• Office Supplies/Operations: $-1,306.10
• Payroll Expenses: $1,502.43
• Technology/Systems/Tools: $686.54

Total Expenses for December: $2,511.24

Payroll to Kyle: $4,306

Total Net Profit for December 2019: $7,877.47

December Summary

Income Overview

Total income for December, $10,388.71, was 61% below year-to-date monthly average total income of $26,502.10.

I closed one transaction.  It was a past client buyer.

Other income, which consists of eXp Realty revenue share, affiliate income, and course sales totaled $5,738.71

A net of four agents joined my organization this month, bringing total agent count to 192 agents.  I personally netted 1 agent for December bringing my total to 37 agents personally sponsored.

Expense Overview

Total expenses for December, $2,511.24, was 69% below my year-to-date monthly average of $7,975.34.

Expenses for December were the lowest for all of 2019. These lower than average expenditures were partly because the tenants for my subleased office paid December and January rent in December. That was an additional $2500 subtracted from my office expenses. This extra payment created a gain in office supplies/operations for December of around $1300, which is usually a $1500 expense for me.  

Brokerage dues were still lower than average due to being capped at 100% and having paid only one transaction fee + my monthly fee of $85.

Marketing and advertising was also about half my usual amount since I received sponsorship money in December for my Christmas party events paid for in November.

Payroll was around double my average for the year. My virtual assistant was busy this month getting my blog content all caught up with the YouTube videos I created in 2019. This work produced over 50 new blog posts!

Tech expenses were also under control as I had spent the better part of the fall, really going through and optimizing the systems and tools that I use and canceling the ones I did not use.

Net Income Overview

Overall, net income for the month, $7,877.47, was 58% less than the year-to-date monthly net income average of $18,526.75  This equals 75% of total income for the month.

This month brings my total net income for 2019 to $222,320.99. This amount is the highest annual net income I’ve ever earned since getting into real estate back in 2008.  

Although it wasn’t the highest gross commission income year I’ve ever had (2017 was $300,713.13 vs. this year was $232,491.03), I was far more efficient with my expenses, which led to a 350% increase in net income for the year.

I’ll do a full write-up on my 2019 year-end report along with my 2020 goals in a separate post and link it here.

Overall though, for December 2019, it was a fitting end to a great year. 

I’m looking forward to 2020 and getting an excellent start to the year. I already have a few deals on the books set to close in January and February. 

I’m incredibly excited going into the new year as I feel 2020 has the potential to piggy-back on the success of 2019 and be an even better year with sales and the other additional streams of income that I’ve been building.