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June 2020 Income Report

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by Kyle Handy       Updated August 4, 2020

june-2020-income-report

June 2020 Income At-A-Glance

Gross Income for June: $18,782.56

Total Expenses for June: $7,942.52

Total Net Profit for June: $10,840.04

% of Net Profit to Overall Gross Income: 57%


Income Breakdown

Real Estate Sales Income: $0

Other Income: $18,782.56

eXp Realty Revenue Share Group:

  • Net Personally Sponsored Agents = 4
  • Personally Sponsored Agents = 43
  • Net Total Agents = +3
  • Total Agents = 250

Total Gross Income for June: $18,782.56


 Expense Breakdown

  • Auto: $388.91
  • Brokerage Fees: $85.00
  • Education/Dues/Travel: $3,417.46
  • Marketing/Advertising: $654.49
  • Office Supplies/Operations: $1,503.67
  • Payroll Expenses: $454.05
  • Technology/Systems/Tools: $1,438.94

Total Expenses for June: $7,942.52

Payroll to Kyle: $4,306

Total Net Profit for June 2020: $10,840.04


June SUMMARY

Income Overview

The total income for June 2020 was $18,782.56.  This month’s total revenue was 19% lower than my 2020 YTD monthly average of $23,231.55.  This decrease is attributed to having no real estate closings in May.

As I mentioned in May's income report, I've been re-inventing my real estate business over the last couple of years.  In 2018 I began building a large nation-wide real estate team based around the eXp Realty revenue share model.  Revenue share is where the bulk of my recent income comes from.

Additionally, in 2019 I began creating real estate content and continue to do so into 2020.  I haven't started to monetize this side of the business yet, but as my brand increases, I'll have that option in the future.

Sales Income

In June, I closed no transactions.

Revenue Share Team Income

My team, which consisted of 247 agents closed 130 transactions in May.  eXp Realty revenue share paid out in June, totaled $18,748.  This time last year, the team consisted of 148 agents and closed 70 transactions, which paid out $12,350 in revenue share.

A net of 3 agents joined my team this month.  This increase brings my total team count to 250 agents. I brought on four agents and lost none, netting me four agents sponsored.  This increase brings my total personally sponsored agent count to 43.

Other Income

Other income totaled $34.93 and consisted of miscellaneous affiliate income.

Expense Overview

Total expenses for June, $7,942.52, were 34% above my 2020 YTD monthly average of $5,919.43.

The increase was due to a rise in my travel expense for the month.  Additionally, business meals and entertainment increased. Lastly, I spent a bit more this month on a virtual assistant that helped me organize my real estate database.

Net Profit Overview

Overall, net profit for the month, $10,840.04, is 37% less than my 2020 YTD monthly net profit average of $17,312.12. This amount equals 57% of the total income for the month.

1/2 Year Update

Year-to-date 2020 net profit is $103,872.  At this time in 2019, this number was $125,401.68.

Real estate sales income has decreased from $150,919.54 to $64,397.50.  Revenue share income has increased from $38,998.38 to $73,244.65.  Expenses have decreased from $65,466.32 to $35,516.59.

I'm projecting revenue share income for the remainder of the year to hit $108,000.  Real estate sales to stay around $65,000.  And expenses to remain at $35,000.

If this projection holds, I'll finish the year with an additional $138,000 of net profit.  This additional net profit added to the first half 2020 net profit of $103,872 would put me around $241,000 (My goal for 2020 was $250,000 in net profit).  I finished 2019 at $205,180.

It's been fun re-inventing myself and my business.  As much as I genuinely miss growing my real estate sales, I've found a passion for helping other agents do it!  That said, if you're a past client or agent and wish to send a referral or need help buying or selling a home in the San Antonio area, I'd love to help you!  I work by referral only at this point and LOVE it!  Send me an email to kyle@thehandyteam.com.

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