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 split 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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