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July 2019 Income Report

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by Kyle Handy       Updated May 18, 2020

Kyle Handy July 2019 Income Report

July 2019 Income At-A-Glance

Gross Income for July: $28,302.27

Total Expenses for July: $12,573.36

Total Net Profit for July: $15,728.91

Difference Between July & June: ($3,485.99)

% of Net Profit to Overall Gross Income: 56%

July 2019 Income Breakdown

Real Estate Sales Income: $15,480.00

  • 13115 Sandlot Way - $5,640
  • 11102 Caliza Bluff - $3,900
  • 13210 Sandlot Way - $5,940

eXp Realty revenue share Income: $11,567.28

  • Agents at Month End = 162
  • New Agents = 14
  • $ / agent = $68

Other Income: $1,254.99

  • Refund For Overpayment to Texas Comptroller

Total Gross Income for July: $28,302.27

Business Expenses

  • Brokerage Fees: $1,160.63
  • Education/Dues/Travel: $1,729.32
  • Marketing/Advertising: $3,150.84
  • Office Supplies/Operations: $5,765.15
  • Payroll Expenses: $106.69
  • Technology/Systems/Tools: $660.72

Total Expenses for July: $12,573.36

Payroll to Kyle: $4,306

Total Net Profit for July 2019: $15,728.91

July Summary

Income Overview

Total income for July ($28,302.27) was 10% below my yearly average of $31,310. 

I closed 3 transactions.  2 were listings from a builder account of mine and the other was a lot purchase from a past client.  eXp Realty Revenue share was just under june's total of ,350.34.  This brings me to a total revenue share for the year of $50,565.66.  A net of 14 agents joined my organization this month, bringing my total agent count to 162 agents.  I personally netted one agent for July bringing my total to 40 agents personally sponsored.

Expense Overview

Total expenses for July ($12,573.36) was 35% above my yearly average of $9,273.11.  

The main contributing factors to this were travel, office rent, and marketing being higher than usual. 

Krissi and I took a last minute trip to puerto rico which increased travel expense.

Office Supplies and Operations was up 400% due to two months worth of office rent hitting this month (I forgot to mail June's office rent until mid-way though June and it wasn't cashed until July).  Office is subleased but I have to cover the difference between what I pay and what I receive for sublease income (appox. $500).  Also, I paid my CPA this month for 2018 tax preparation.  

Marketing increased because I experiemented with a new lead generation system for my eXp Realty agent attraction business on LinkedIn.  This cost was $850 and isn't something that I will continue moving forward.

Brokerage fees were about 50% less than average since I have hit my cap with eXp Realty and earn 100% of my commission minus small per transactions fees.  This will continue until april 2020 when my cap will be reset.

Technology expenses decreased nearly 50% from my average as I did a major overhaul of technology that I wasn't using in June and turned off quite a few subscriptions.

Net Income Overview

Overall, net income for the month, $15,728.91, was 28% below my yearly net income average of $22,036.  

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