October 2019 Income Report
October 2019 Income At-A-Glance
Gross Income for October: $15,179.04
Total Expenses for October: $10,460.18
Total Net Profit for October: $4,718.86
Difference Between september & October: -$15,090.46
% of Net Profit to Overall Gross Income: 31%
October 2019 Income Breakdown
Real Estate Sales Income: $7,020.00
- Sierra Birch – $7,020
eXp Realty revenue share Income: $8,031.26
- Agents at Month End = 197
- New Agents = 11
- $ / agent = $40.77
Total Gross Income for October: $15,179.04
Business Expenses
- Brokerage Fees: $360.00
- Education/Dues/Travel: $342.68
- Marketing/Advertising: $2,249.93
- Office Supplies/Operations: $5,947.21
- Payroll Expenses: $1,043.45
- Technology/Systems/Tools: $517.91
Total Expenses for October: $10,460.18
Payroll to Kyle: $4,306
Total Net Profit for October 2019: $4,718.86
October Summary
Income Overview
Total income for October, $15,179.04, was 48% below year-to-date monthly average total income of $29,358.77.
I only closed one transaction. It was from a random call off of Zillow. Client searched the directory and decided to call me from my reviews. eXp Realty Revenue share was $8,031.26. This brings me to a total revenue share for the year of $71,100.54.
A net of 11 agents joined my organization this month, bringing total agent count to 197 agents. I personally netted zero agents (Added one, lost one) for October keeping my total at 41 agents personally sponsored.
Expense Overview
Total expenses for October, $10,460.18, was 18% above my year-to-date monthly average of $8,837.86.
The main contributing factors to this were office supplies/operations was way above average for the month.
We moved into our new home in October which meant I was able to write-off some of the moving expenses for my office. In addition, I went a bit overboard setting up my new office studio. I purchased some new lights, new furniture, new equipment, etc…
Aside from this category being over budget, my other expense categories were mostly in line with the average. This category accounted for $3,800 above the average so had that not been there my expenses would have been below my year-to-date monthly average of $8,837.
Net Income Overview
Overall, net income for the month, $4,718.86, was 77% less than the year-to-date monthly net income average of $20,520.91. This equals 31% of total income for the month.
This was one of those months that you are thankful you save money as a real estate agent. This was my second worst month of the year (march being the worst). I only closed one home this month, in March I closed none. This was also the second month of the year that my revenue share out performed my sales income.
Even with the slower than usual month, I did surpass the $200,000 net income mark. This is the first year I have ever (11 years in real estate) NETTED that much in income. I’m currently at $205,209.14 net income and forecasting to finish the year around $230,000 (My goal to start the year was $250k).
The gross income breakdown on that is $219,052 in real estate sales, $71,100.54 in revenue share, and $3,434.49 in other income (mentor fees, Patreon, etc.). $293,587.77 total.
My total expenses have added up to $88,378.63 with brokerage fees, marketing, and office operations all being around $20k each, tech and education/travel at $10k each, and payroll at around $5k.
Luckily, it looks like November will bounce back a bit with two closings scheduled and a decent amount of revenue share already racked up. In addition, my expenses should get back closer to my average of around $8,000.
Would You Like To Partner With Me?
I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country increase their sales, online presence, and create scalable systems. I would love the opportunity to work with you. Together, we can make this year your best yet!
Thank you for sharing very private information about your income and expenses. It helps a new agent, such as myself, see the potential in this business. Best wishes for a great November!
Thanks, Mary. I felt there is so much fluff around income in the real estate space that I wanted to put something real out there. It’s been well received and I think is helpful to agents both new and seasoned to be able to compare to someone else in their field.
Kyle,
Thanks for being real and sharing. I know so many other Agents who would not dare post this or be dishonest in their earning. You bad month is still better than my good ones. However, it encourages me to see your numbers and know all things are possible. You also have been spending a lot of time giving back to us and I really appreciate all you are doing. You also had EXPCON and just moved. I am very impressed at how well you have transitioned. Having moved growing up and in my married life ( Corporate) totals 25 times, but I have lived in the Houston/Katy/Sugar Land, Texas Area.
WOW! That’s a ton of moving. I hope we’ll be here a WHILE. October was a blur but I’m excited to be back at it and publishing content and selling homes 🙂 Wishing you a great holiday season.
Hey Kyle. I’ve been with EXP since they were brought North of the border (Calgary) in 2014. Your videos, mastermind, and social media expertise is fantastic and keeps more people motivated than you realize. Very honest of you to share income but it brings attention to you, your brand, and the brokerage so keep building !! Thx
I appreciate the kind words! I will certainly keep building. This is just the beginning!