International financial markets can have a particular impact on property companies through:
Changing exchange rates can results in the value of a sale changing for either the buyer, seller or both. This uncertainty can result in sales falling through
Large transactions cost more when the rate changes, or through using a traditional bank over a cross border payment solution
Company accounts are impacted by being able to hold just one currency, as opposed to many, to make payments as needed
Expense management for travelling staff becomes difficult when across multiple currencies
Using a cross border payment solution provides a number of solutions for international property businesses.
Key problems solved
Large transfers at the point of completion
Offer currency risk services and partnerships through currency brokers.
For example, fix exchange rates with forward contracts or limit orders, or send money using multi-currency accounts to reduce the overall cost of the transaction.
Regular international payments to staff and ongoing suppliers
Setup batch and repeated payments to staff and suppliers operating across international property markets.
This can be in the form of both expense management and invoiced cross-border payments.
Access currencies and international markets
Access to multiple currencies opens the door for advertising and media spend in new markets you want to attract buyers from.
Pay for advertising
Utilise virtual cards to pay for advertising across different markets. Assign cards to specific properties or advertising types.
Recommended property provider
Airwallex is our recommended provider for property companies. They offer the most flexibility on card use and the widest range of local multi-currency accounts.