January 2021 Income Report

January 2021 Income At-A-Glance

Revenue for January: $21,831.54

Expenses for January: $8,297.43

Net Profit for January: $13,534.11

% of Net Profit to Overall Revenue: 62%

Income Breakdown

Personal Real Estate Sales Revenue: $0

eXp Realty Team Revenue: $20,650.47

Other Revenue: $1,145.72

eXp Realty Team Growth January:

• Personally Sponsored Agents Growth Net = +4
• Personally Sponsored Agents Total = 65
• Team Growth Net = +21
• Team Total  = 360
• Team Transactions in December (January Payout) = 145

Total Gross Income for January: $21,831.54

 Expense Breakdown

• Auto: $266.29
• Brokerage Fees: $0
• Education/Dues/Travel: $179.78
• Marketing/Advertising: $429.27
• Office Supplies/Operations: $4,252.07
• Payroll Expenses: $2,265.00
• Technology/Systems/Tools: $905.02

Total Expenses for January: $8,297.43

Payroll to Kyle: $4,306

Total Net Profit for January 2021: $12,982.79

JANUARY SUMMARY

Income Overview

My total revenue for January 2021 was $21,831.54.  This month’s total revenue was 12% lower than my 2020 monthly average of $24,826.50.  This decrease is attributed to having no personal closings in January.  This month was carried by strong team and growing affiliate/ad income. 

Real Estate Sales Income

In January, I closed zero personal real estate sales.  

eXp Realty Team Income

My team, which consisted of 339 agents to start the month closed 145 transactions in December.  eXp Realty team income paid out in January, totaled $20,650.47.  This time last year, the team consisted of 192 agents and closed 78 transactions, which paid out $9,294 in team income.

A net of 21 agents joined my team this month.  This increase brings my total team count to 360 agents. I personally sponsored a net of four agents in January.  This increase brings my total personally sponsored agent count to 65.

Other Income

Other income totaled $1,145.72 and consisted of affiliate commissions and YouTube ad revenue.  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 = $284.21
• YouTube Ad Revenue = $861.51 (Began Monetizing in Oct 2020)

Expense Overview

Total expenses for January, $8,297.43, was 4% above my 2020 monthly average of $7,944.99.  

No major savings or expenses to start the year.  $8,000 is about my average monthly expenses.  This consists mostly of paying my virtual assistant, any office supplies/tools that I purchase, and technology systems (which I’ll detail below).  

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.

• Libsyn – $35 – Podcast Hosting
• Auphonic – $11.91 Podcast Audio Production
• Gsuite – $.88 Google Apps
• Adobe – $21.64 Lightroom Photo Editing
• Zoom – $15.81 Video Conferencing
• Flick.tech – $13.24 Instagram Hashtags
• Epidemic Sound – $15.00 YouTube Video Music
• Google Storage – $10.49 Google Drive File Storage
• Optimole – $24.79 WordPress Website Image Optimization
• Canva – $12.95 Graphic Design Platform
• Calendly – $15.00 Scheduling Tool
• Quickbooks Online – $26.65 Financial Reports
• Quickbooks Payroll – $41.57 Payroll
• Backblaze – $35.63 Online Computer File Backup
• Inside Real Estate – $31.98 Video Email Add-on for kvCORE
• YouTube Premium – $12.80 Education Ad-free
• Aweber – $130.00 Email Marketing Tool
• Thinkific – $49.00 Course Creation
• Community – $99.00 Build a Text Distribution List

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, $13,534.11, is 19% less than my 2020 monthly net profit average of $16,881.51. This amount equals 62% of the total income for the month.

With January’s net profit of $13,534 I’m $336,465 away from my $350k net income goal for 2021.  For a full recap on my 2021 business plan and goal, check out my December 2020 Income Report.

Key Performance Indicators

I’m creating this section to share the KPI’s that I track in my business.  These are the areas within my business that I know move the needle of success.  I believe that by being transparent and showing progress over time, it will help guide those creating a similar business model (based on content) to me.

Blog Posts Published – 3

• Goal is 12 posts per month
• Goal is 250 posts by 12/31/21 (Currently at 120)
• Need to average 12 posts per month to hit goal

Blog Sessions – 29,809

• 37% more sessions than last month
• Session equals grouping of activity a user takes on my website within 30 minutes

YouTube Videos Published – 0 ?

• I’ll be starting back regular videos in March
• Goal is 150 videos by end of 2021 (Currently at 63)
• Need to average 9 videos per month to hit goal

YouTube Views – 20,574

• 26% more views than last month
• 2021 Goal is 50,000 monthly views by 12/31/21

eXp Partners of Mine in the “Comma Club” – 13

• Comma Club = Earning over $1,000 in monthly residual team income
• Goal is 40 by 12/31/21

If you’d like to talk about partnering up with me at eXp to take your real estate business to the next level, fill out the short form on my Join eXp Partner Page.  You’ll be able to setup a zoom call with me where we’ll be able to determine if partnering is the right next step for you and your business.  

Partners of mine get one-on-one access to me, private group coaching calls, and access to courses that I’ve created like my “Project 36” (which details how you can replace your entire real estate sales income with recurring residual team income within 36 months).  You’ll also be apart of a community of like-minded agents who are looking to build their real estate business a bit different than the traditional real estate agent business!