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December 2020 Income Report

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by Kyle Handy       Updated February 27, 2021

December 2020 Income Report

December 2020 Income At-A-Glance

*Be sure to read the end where I recap 2020 and project 2021.

Revenue for December: $19,747.19

Expenses for December: $6,764.40

Net Profit for December: $12,982.79

% of Net Profit to Overall Revenue: 65%


Income Breakdown

Personal Real Estate Sales Revenue: $1,637.56

eXp Realty Team Revenue: $15,764.82

Other Revenue: $2,344.81

eXp Realty Team Growth December:

  • Personally Sponsored Agents Growth Net = +3
  • Personally Sponsored Agents Total = 61
  • Team Growth Net = +14
  • Team Total  = 339
  • Team Transactions in November (December Payout) = 99

Total Gross Income for December: $19,747.19


 Expense Breakdown

  • Auto: $184.28
  • Brokerage Fees: $220
  • Education/Dues/Travel: $107.74
  • Marketing/Advertising: $914.80
  • Office Supplies/Operations: $800.63
  • Payroll Expenses: $3,600
  • Technology/Systems/Tools: $936.95

Total Expenses for December: $6,764.40

Payroll to Kyle: $4,306

Total Net Profit for December 2020: $12,982.79


DECEMBER SUMMARY

Income Overview

My total revenue for December 2020 was $19,747.19.  This month’s total revenue was 20% lower than my 2020 YTD monthly average of $24,826.50.  This decrease is attributed to having only one personal deal in December and it was a referral.  This month was carried by strong team and other income. 

Real Estate Sales Income

In December, I closed one personal real estate transaction and it was a referral to another agent.  

eXp Realty Team Income

My team, which consisted of 325 agents to start the month closed 99 transactions in November.  eXp Realty team income paid out in December, totaled $15,765.82.  This time last year, the team consisted of 188 agents and closed 78 transactions, which paid out $5,622 in team income.

A net of 14 agents joined my team this month.  This increase brings my total team count to 339 agents. I personally sponsored a net of three agents in December.  This increase brings my total personally sponsored agent count to 61.

Other Income

Other income totaled $2,344.81 and consisted of affiliate commissions, YouTube ad revenue, and credit card point redemptions.  Other income is steadily increasing.  Outside of growing my real estate team here at eXp, this is my secondary focus.  I anticipate this revenue to outpace even my personal real estate sales in 2021.  I'll continue to add details to this income category as it increases.

  • Affiliate Income = $246.30
  • YouTube Ad Revenue = $720.74 (Began Monetizing in Oct 2020)
  • Credit Card Point Redemption Credit = $1,377.77 (Not a recurring income)

Expense Overview

Total expenses for December, $6,764.40, was 14% below my 2020 YTD monthly average of $7,944.99.  

The decrease was due to reduced spending in every category minus meals/entertainment and payroll which was slightly above average.  Meals and entertainment was higher than normal for taking a few clients and agents to late Thanksgiving and Christmas lunches and dinners.  

Payroll was higher than average because of my recently hired virtual assistant.  Also, there were three pay periods that fell in this month.  

Tech Systems/Tools

More and more people are asking for the specific tech systems and tools I'm using so I'm creating a new section specifically for this breakdown.

For the full listing of all the tools and systems I use in my real estate business, including free ones not seen below, click here.

Net Profit Overview

Overall, net profit for the month, $12,982.79, is 23% less than my 2020 YTD monthly net profit average of $16,881.51. This amount equals 65% of the total income for the month.

With December's net profit of $12,982.79, it brings me to $202,578.14 for the year.  This fell short of my 2019 net profit of $221,518.20 and of my 2020 goal of $250,000 net income. 

2020 Recap and 2021 Projection

On the surface 2020 didn't pan out exactly how I had planned.  However, when you look into the numbers deeper you see something very exciting which explains why I just missed reaching my 2019 numbers and overall goal that I set for myself of $250k in net income for 2021. 

2020 was a year where I focused 90% of my efforts on growing my team and content and 10% on my personal real estate sales business.  That being said, with 10% effort I still managed to close just over $100k in personal real estate sales ($100,737 to be exact).  Don't get me wrong, when I'm working for a client, they get 100% of my effort but prospecting and lead generating for business is what got 10% of my time this year.  I relied heavily on sphere of influence and referral business to carry me to 6 figures in personal sales.  

But here's the really exciting part! I was able to grow my team income from $81k in 2019 to $190k in 2020. That's more than double.  The team grew from 192 agents to start the year to 339 agents to close the year out.  We closed 645 transaction in 2019 and 1,383 in 2020!  That means I earned a percentage on over 1,000 transactions in 2020!  Never would I have ever imagined that possible, especially not after only three years.

This is why on the surface, not hitting my goal of $250k net income seemed disappointing but there's much hope for 2021 and beyond.  In 2021, I estimate that my team will grow to over 600 agents which will net my business over $370,000 in commissions. This does not factor in my personal sales, affiliate income, and hopefully some training course income once released in 2021. 

Also, on the content side, my blog and YouTube channel are starting to take off.  My blog (which you're reading now) went from 28,121 total Pageviews in 2019 to 148,111 in 2020.  This is over 5X more traffic to the site and it continues to grow rapidly every month.  In fact, I had nearly as much traffic in December 2020 (28,090 Pageviews) as I did in all 2019 (28,121).  

Blog Pageviews 2020

What's important about Pageviews?  Pageviews equals audience.  Pageviews equals opportunity.  Opportunity to meet new partners for my team at eXp Realty, opportunity to earn affiliate commission on promoting products and services I believe in, and opportunity to impact real estate agent lives, which has been something that I've been motivated by, ever since opening my independent brokerage in 2013.  Now I've finally found the most efficient and effective way of doing that.  Through my blog and on YouTube.  

Speaking of YouTube, I've grown my channel to earning over 106,700 views in 2020 which resulted in 14,200 hours of my videos being watched and over 3,800 new subscribers.  When you compare these results to 2019, which was 15,100 views, 1,800 hours and 570 subscribers you can start to see the trend that reflects how amazing of a year 2021 is setting up to be!  

YouTube Search Views

All that being said, I've already built my 2021 business plan and I'm going to list out a few of the metrics that I'm planning for in 2021:

  • Personal Sales/Referrals = $48,000
  • Team Income = $370,000
  • Affiliate + Ad + Course Revenue = $32,000
  • Total 2021 Gross Revenue = $450,000 
  • Expenses = $100,000
  • 2021 Net Income = $350,000

So while I may not have hit my 2019 net income goal of $250,000 I feel that I've positioned my business in a way that with continued focus on building out my team and creating content both on my blog and on YouTube, will leapfrog 2021 into my best year ever!  Only time will tell.

A few additional metrics I have in my business plan for 2021 that I'd like to be held accountable to are as follows:

  • 600 Team Agents / 100 Personally Sponsored
  • 250 Blog posts created (Currently at 117)
  • 75,000 monthly Pageviews by 12/31/21
  • 150 YouTube videos published (Currently at 63)
  • 50,000 monthly video views by 12/31/21
  • Create 3 Courses

Finally, and this is one of my favorite goals for 2021 is to help 40 agents on my team reach $1,000 per month in recurring residual team income of their own.  Currently, I have 12 agents that have met and exceeded this mark and I know we can accomplish this feat for 2021!  If you'd like to learn more about joining eXp Realty and partnering with me, click here and fill out my partner app to setup a time to meet with me via Zoom.

More than anything I hope everyone had a healthy, safe 2020 and we can all turn the page on a very different year and look forward to an amazing 2021!

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