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September 2019 Income Report

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by Kyle Handy       Updated May 12, 2020

Kyle Handy September 2019 Income Report

September 2019 Income At-A-Glance

Gross Income for September: $28,768.05

Total Expenses for September: $9,180.62

Total Net Profit for September: $19,587.43

Difference Between august & September: -$6,531.85

% of Net Profit to Overall Gross Income: 68%

September 2019 Income Breakdown

Real Estate Sales Income: $21,670.00

  • Long Arrow - $5,560.00
  • Spring Scent - $16,110.00

eXp Realty revenue share Income: $7,096.84

  • Agents at Month End = 186
  • New Agents = 12
  • $ / agent = $38.15

Total Gross Income for September: $28,768.05

Business Expenses

  • Brokerage Fees: $635.00
  • Education/Dues/Travel: $1,762.08
  • Marketing/Advertising: $2,334.13
  • Office Supplies/Operations: $1,558.64
  • Payroll Expenses: $2,005.70
  • Technology/Systems/Tools: $885.07

Total Expenses for September: $9,180.62

Payroll to Kyle: $4,306

Total Net Profit for September 2019: $19,587.43

September Summary

Income Overview

Total income for September, $28,768.05, was 6% below year-to-date monthly average total income of $30,875.96. 

I closed two transactions.  One was a listing from a past client referral.  The other was the buy side for that past client referral.  eXp Realty Revenue share was $7,096.84.  This brings me to a total revenue share for the year of $63,069.28.  A net of 12 agents joined my organization this month, bringing total agent count to 186 agents.  I personally netted one agent for September brining my total to 41 agents personally sponsored.

Expense Overview

Total expenses for September, $9,180.62, was 6% above year-to-date monthly average of $8,657.60.

The main contributing factors to this were travel expenses, tech, and payroll were all above average for the month.

Travel was higher than usual in September because I paid for me and my families October trip to Las Vegas for expcon.

I did a huge cut to tech expenses in july so August was very low.  I then added a few new tech tools I'm testing out which is why in September they went up.

Lastly, payroll increased in September due to the addition of a couple of virtual assistants to help me with my website.  I added a virtual assistant to help increase backlinks to my website.  I also added a transcriptionist to transcribe my youtube videos into text that I can use for my blog.

Net Income Overview

Overall, net income for the month, $19,587.43, was 12% less than the year-to-date monthly net income average of $22,218.36.  This equals 68% of total income for the month.

In August, I said I wanted to keep expenses around $6,000 per month or 20% of average total income.  I'll need to make a changes to expenses for october to make this happen.

Quarterly Overview

September ends the third quarter.  This quarter produced the least amount of net income of the three quarters thus far in 2019.

  • Q1 net income = $65,843.15
  • Q2 net income = $72,686.44
  • Q3 net income = $63,435.62

I attribute the decrease to the cyclical nature of the real estate sales business.  Historically for me, the third quarter has yielded the least amount of home sales, even less than fourth quarter which is surprisingly busy for me.  Sales income dropped from $79,448.01 to $61,113.20.  This equals around 3 home sales less than the quarter before.

Revenue share for the third quarter was $24,070 compared to $27,434.35 in the second quarter.

On a positive note, expenses dropped to $25,580.04 for the third quarter compared to $34,823.83 in the second quarter.  This falls closer in line to where I'm looking to get the business, which is $18,000 total expenses per quarter.

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