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%
Real Estate Sales Income: $0
Other Income: $18,782.56
- Revenue Share - $18,747.63
- Affiliate - $34.93
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
- 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
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.
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 totaled $34.93 and consisted of miscellaneous affiliate income.
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 firstname.lastname@example.org.