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Navigating International Payments: Challenges and Solutions in Real Estate Transactions

This agenda focuses on the complexities associated with international payments, particularly in real estate. Key issues include currency fluctuations, hidden costs, and the challenges faced by foreign buyers, especially from Europe and Russia. We explore solutions offered by currency exchange specialists, such as competitive rates and risk management services. The session also discusses collaboration with realtors and how to effectively address clients' needs while complying with regulations. Join us for a comprehensive understanding of making seamless international transactions.

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Navigating International Payments: Challenges and Solutions in Real Estate Transactions

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Presentation Transcript

  1. International payments Issues & Solutions Darren Connor

  2. Agenda • International payments – issues • Currency fluctuations • Hidden costs • Other considerations • Currency exchange specialists • Services offered • Working with Realtors • Questions? 1

  3. International payments - issues • Need to exchange currency – how easy is this? • Europe - 48 countries & 26 own currency • Russia – 9th largest economy in the world, Ruble not easily traded • 25% of all foreign buyers in USA are from Europe and Russia • Reason for buying? Strength of domestic currency against USD 2

  4. Currency Fluctuations – EUR/USD 3

  5. Currency Fluctuations – EUR/USD 4

  6. Hidden cost Interbank price EUR/USD = 1.3140 Difference of €1212 between providers 5

  7. Other considerations? • Hello/Hola/Bonjour/Здравствуйте • Culture and customs • Different process when buying a property • Legalities • Getting funds out of their country 6

  8. solutions • Currency exchange specialists • Competitive exchange rates • Risk management services • Same day transfers • Security • Ease of use 7

  9. How it works 8

  10. Working with Realtors • Referring Partnership program • Account Manager • Marketing materials • 15% referral fees – compliant with RESPA 9

  11. Questions? 10

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