February 2020 Income Report
February 2020 Income At-A-Glance
Gross Income for February: $31,548.81
Total Expenses for February: $5,746.45
Total Net Profit for February: $25,802.36
% of Net Profit to Overall Gross Income: 82%
Income Breakdown
Real Estate Sales Income: $25,525.00
- Westelm Gdn – $10,525
- Cooper Corral – $7,200
- Jade Knoll – $7,800
Other Income: $6,023.81
- revenue share – ,970.47
- Affiliate – $53.34
eXp Realty Revenue Share Group:
- Net Personally Sponsored Agents = -1
- Personally Sponsored Agents = 36
- Net Total Agents = +12
- Total Agents = 220
Total Gross Income for February: $31,548.81
Expense Breakdown
- Auto: $36.22
- Brokerage Fees: $910.00
- Education/Dues/Travel: $1,760.58
- Marketing/Advertising: $1,086.88
- Office Supplies/Operations: $321.98
- Payroll Expenses: $1,132.40
- Technology/Systems/Tools: $498.39
Total Expenses for February: $5,746.45
Payroll to Kyle: $4,306
Total Net Profit for February 2020: $25,802.36
FEBRUARY SUMMARY
Income Overview
Total income for February 2020, $31,548.81. This was higher than my average for 2019 of around $25,000. This can be attributed mostly to a good sales month.
Sales Income
In February, I closed three transactions. All three were sphere of influence. One listing and two buyers. This totaled $25,525 in gross commission income.
Revenue Share Team Income
My team, which was 208 agents in january closed 52 transactions. eXp Realty revenue share paid out for February totaled $5,970.47. This time last year, the team was 115 agents and closed 32 transactions which paid out $4,157.90 in revenue share.
A net of 12 agents joined my team this month, bringing total agent count to 220 agents. Personally, I lost one agent for February, bringing my total to 36 agents sponsored.
Other Income
Other income totaled $53.34 and consisted of miscellaneous affiliate income.
Expense Overview
Total expenses for February, $5,746.45, were 38% below my 2019 monthly average of $9,271.52.
February expenses were lower than 2019 average mostly due to lower rent, marketing, and brokerage fees.
Rent cost was less due to the fact that I had a double payment from my sublessor in February causing a surplus in rent for the month.
Marketing was less due to the fact that I am not running Facebook or google ads nearly as much as I was early in 2019.
Finally, brokerage dues were less than average just because I am capped at eXp Realty until February. This means that I don’t pay a commission split on my transactions. My commission cap resets in April.
Net Profit Overview
Overall, net profit for the month, $25,802, was 49% more than my 2019 monthly net profit average of $17,261.92. This amount equals 82% of the total income for the month.
Compared to February 2019, net profit for 2020 was around $18,000 lower. On the surface, that sounds bad but ultimately February 2019 was my best month ever in real estate. I closed over $50,000 in gross commission in that month alone.
I’m still very excited with $25,000 in net profit for the month and when you add that to $15,000 the month before, that’s a solid start to 2020.
Overall, gross income is about a thousand dollars higher than the average for last year and expenses are a couple thousand dollars less. Overall, this means my average net income for 2020 is around $3,000 higher than the average month for 2019. I totaled just over $200,000 in net income for 2019, my best year ever. My goal for 2020 is to net $250,000.
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I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country increase their sales, online presence, and create scalable systems. I would love the opportunity to work with you. Together, we can make this year your best yet!
