September 2020 Income At-A-Glance
Revenue for September: $38,797.99
Expenses for September: $13,875.23
Net Profit for September: $24,922.76
% of Net Profit to Overall Revenue: 64%
Personal Real Estate Sales Revenue: $18,300
eXp Realty Team Revenue: $20,320.99
Other Revenue: $177.00
eXp Realty Team Growth September:
Personally Sponsored Agents Growth = 3
Personally Sponsored Agents Total = 52
Team Growth = 12
Team Total = 297
Team Transactions in August (September Payout) = 130
Total Gross Income for September: $38,797.99
Brokerage Fees: $3,875.00
Office Supplies/Operations: $3,069.47
Payroll Expenses: $936.90
Total Expenses for September: $13,875.23
Payroll to Kyle: $4,306
Total Net Profit for September 2020: $24,922.76
My total revenue for September 2020 was $38,797.99. This month’s total revenue was 47% higher than my 2020 YTD monthly average of $26,249.07. This increase is attributed to having two closings in September combined with a good month in team income.
Real Estate Sales Income
In September, I closed one buyer side and one seller side transaction. These transactions were a sphere of influence, move-up deal. We had back-to-back closings on their sale and purchase.
eXp Realty Team Income
My team, which consisted of 285 agents closed 130 transactions in August. eXp Realty team income paid out in September, totaled $20,321. This time last year, the team consisted of 174 agents and closed 63 transactions, which paid out $7,097 in team income.
A net of 12 agents joined my team this month. This increase brings my total team count to 297 agents. I personally sponsored three agents in September. This increase brings my total personally sponsored agent count to 52.
Other income totaled $177.00 and consisted of miscellaneous affiliate income. Although, this source is small now, I foresee this number to increase in the years to come.
Total expenses for August, $13,875.23 , were 87% above my 2020 YTD monthly average of $7,394.11.
The increase was due to an increase in auto, broker dues, travel, business meals, and office supplies. Because I closed two transactions and am no longer capped, I pay 20% of my commission to my broker, eXp Realty. This equated to around $4,000 which is the bulk of the increase.
However, I also took a recent business trip. This contributed to higher gasoline costs, business meals and entertainment, and travel expenses.
Office supplies increased this month since I pre-ordered a new camera for my real estate content creation.
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
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, $24,922.76, is 32% more than my 2020 YTD monthly net profit average of $18,854.96. This amount equals 64% of the total income for the month.
With September's net profit of $24,922.76, it brings me to $169,694.60 for the year. I'm just shy of pacing my goal of $250,000 net profit for 2020. I'm currently tracking $225,000 which would be an increase from 2019 (just over $205k) but short of my goal. I'll need to have a big fourth quarter to hit my goal. We'll see what happens!