A new payment solution provider that lets agents in Australia win listings by funding Vendor Paid Advertising.
Rello provides real estate agency operators, property management platforms and CRM platforms with "Pay Now" and "Buy Now, Pay Later" funding solutions.
Platform partners, agents and agencies can use the 'pay later' solution for vendor paid advertising, staging and minor home renovations to ease cash flow problems during transactions.
The platform also provides homeowner solutions for accessing deposits early.
Rello charges a 5.5% fee on top of the total cost of projects.
The company, based in Sydney, will also launch tools to serve all agencies across Victoria and New South Wales.
Fidaa Haddad, Managing Director at Rello, said:
"With our pay-later options for VPA, we want to help vendors get ready to sell and to hit their target selling price by giving them the money they need for marketing. But that is just the start. Starting this spring, Rello will begin enabling instant payments or pay-later instalment plans that solve just about every financing problem that plague agents and consumers.
“We want to make funding VPA or getting access to your commissions or deposits as easy as just a couple of taps on your phone. For agencies, having easy access to the money they need, when they need it, will be transformational. For consumers, it will remove obstacles to buying, selling, investing, and renting."
Rello is already available to all agents who use CRMs from PropTech Group, including the VaultRE and Eagle Software CRMs, with further SaaS partnerships scheduled to go live this year.
"We have rolled out with PropTech Group first. More than 42% of agents use their CRMS, and their team has impressed me beyond measure. The Eagle and Vault delivery has been an integration on steroids," Haddad added.