Keeping an Eye on Currency

The state of the global economy is constantly changing. Markets fluctuate within the blink of an eye, bringing currency values around the world with them. These changes matter whether they are big or small. Even a seemingly minor change in a currency’s value can have a substantial impact on both you and your client in terms of:

• Price
• Sale proceeds
• Buying power
• Return on investment
• Gain or loss on sale
• Transaction costs
• Payment of loans, closing expenses, operating costs, and upkeep
• Rental income
• Commissions ad referral fees

By monitoring currency rates you can help mitigate any surprises along the way. Make sure your clients can easily understand the values and express the cost of a property or service in your client’s home currency. Here’s a few places that can help you monitor the rates, many of which also offer mobile apps:

• MoneyCorp
• HiFx Currency Converter
• XE Exchange Rates
• OANDA
• eXchangeRate.com
• CoinMill.com
• USF Forex

Is there a website or app that helps you with your global business? I would love to hear about it! Email me at cgibson@realtors.org.