Kyle Handy October 2019 Income Report

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.  

Kyle Handy

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