November 2020 Income At-A-Glance
Revenue for November: $20,932.52
Expenses for November: $10,846.83
Net Profit for November: $10,085.69
% of Net Profit to Overall Revenue: 48%
Personal Real Estate Sales Revenue: $0
eXp Realty Team Revenue: $20,072.01
Other Revenue: $860.51
eXp Realty Team Growth November:
- Personally Sponsored Agents Growth Net = +2
- Personally Sponsored Agents Total = 58
- Team Growth Net = +5
- Team Total = 325
- Team Transactions in October (November Payout) = 134
Total Gross Income for November: $20,932.52
- Auto: $117.77
- Brokerage Fees: $85.00
- Education/Dues/Travel: $1,892.99
- Marketing/Advertising: $942.75
- Office Supplies/Operations: $3,682.34
- Payroll Expenses: $3,405.00
- Technology/Systems/Tools: $720.98
Total Expenses for November: $10,846.83
Payroll to Kyle: $4,306
Total Net Profit for November 2020: $10,085.69
My total revenue for November 2020 was $20,932.52. This month’s total revenue was 17% lower than my 2020 YTD monthly average of $25,288.25. This decrease is attributed to having zero personal closings in November. This month was carried by strong team and other income.
Real Estate Sales Income
In November, I closed zero personal real estate transactions.
eXp Realty Team Income
My team, which consisted of 320 agents to start the month closed 134 transactions in October. eXp Realty team income paid out in November, totaled $20,072.01. This time last year, the team consisted of 197 agents and closed 56 transactions, which paid out $5,106.60 in team income.
A net of 5 agents joined my team this month. This increase brings my total team count to 325 agents. I personally sponsored a net of two agents in October. This increase brings my total personally sponsored agent count to 58.
Other income totaled $860.51 and consisted of affiliate commissions and YouTube ad revenue. This number 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 stream of income as it increases.
- Affiliate Income = $190.01
- YouTube Ad Revenue = $670.50 (Began Monetizing in Oct 2020)
Total expenses for November, $10,846.83, was 34% above my 2020 YTD monthly average of $8,052.31.
The increase was due to an increase in travel, dues, advertising, office supplies, and payroll all being higher than average. There was an eXp Realty event held in Dallas that I attended which increased travel for the month. I had to pay my annual Realtor dues this month. I ran some Facebook ads as an experiment to increase subscribers on my YouTube channel (Spoiler: it didn't work).
I made a few larger business purchases this month including a standing desk, RGB lighting to light the background of my YouTube videos, and a new LED key light for my main talking head video light.
Finally, payroll was higher than average as I'm now fully working with a 30 hour per week virtual assistant that helps me organize and publish my content. Additionally, I now have a video editor that helps me to edit my talking head and VLOG style videos.
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, $10,085.69, is 41% less than my 2020 YTD monthly net profit average of $17,235.94. This amount equals 48% of the total income for the month.
With November's net profit of $10,085.69, it brings me to $189,595.35 for the year. I'm shy of my goal of $250,000 net profit for 2020. It's looking like I might match my net earnings from 2019 of $205,000.
From October's Income Report:
"2020's been an interesting year, to say the least! Not only have we all been dealing with Covid and all the changes that's brought about. I've personally been transitioning out of doing as much personal sales and putting all my focus and effort on building my team and creating content.
This year has brought about all sorts of emotions, including fear, excitement, nervousness, and joy. More than anything, I feel I'm on the right path. Working with my team of agents all over the country has sparked new energy into my business and gives me a level of fulfillment that I haven't felt in quite some time!
As challenging as it's been to see my personal sales drop (this is something that i've placed my own personal value in for years), I know that it's the right move to be able to grow as a leader and give more value to other agents that can take the torch and run with it!
I continue to follow my gut feeling about the direction to take my business and I encourage anyone in a similar situation do the same. I truly believe that even though this year may not turn out exactly how I planned it, it's setting up an even better 2021!"