If you have overseas customers, they’ll need to make a U.S. dollar/foreign currency exchange. By partnering with a foreign exchange specialist you could save these customers thousands and increase their budgets, giving them more to spend on the home of their dreams.
The foreign exchange market is fast paced and exchange rates change constantly. This makes budgeting difficult as money can lose real value. However, it also opens up the opportunity to boost their budgets and make the most of exchanging their money.
You can increase their budgets and ease any concerns they have about being put at risk by the foreign exchange market.
Expert market guidance for your clients
To help your customers make the most of fast moving exchange rates, a foreign exchange specialist can give expert guidance on the market. With their help your clients can make the most of market movements in their favor and avoid being caught out by slides.
Not only this, exchange specialists typically offer exchange rates 3-4% more competitive than a bank. For example, that can yield an extra $3000-$5000 out of a transfer of £100,000. So their purchasing power is significantly increased.
Protect your clients from the market with specialist exchange tools
Often when buying a property there is a delay of several months between signing the purchase agreement and payment, during which time exchange rates could shift and potentially make the property much more expensive or, in the worst case, unaffordable.
Let’s say you have clients from Europe. They agreed to buy a $250,000 house in May when it would have cost them around €180,000, but by the time it came for them to pay by September, the euro declined so the house will now cost as much as €194,000. This exchange rate movement means the house now costs them €14,000 ($18,000) more, even after they’ve agreed on the final price in dollars.
By partnering with a foreign exchange specialist you can offer tools to protect your clients. For example, a “forward contract” can lock an exchange rate for a future exchange to take place anytime within the next 24 months. Meaning you and your clients don’t have to worry about the foreign exchange market souring any purchases.
Offer them long term currency solutions
Even after they’ve completed the purchase, your overseas clients will need to consider how they will manage their exchanges for mortgage or maintenance fees to be paid each month.
Most exchange specialist will offer an online platform where all clients’ payment and recipient details are stored online – which makes it very easy to arrange repeat transfers.
For more information on Moneycorp and their partner program, visit: www.moneycorp.com/usa or call +1 877-252-8232.
