Rello - F.A.Q

Rello - F.A.Q

ARO is now integrated with Rello to provide you with an integrated payment solution that help bridge the gap between expenses for marketing costs related to a marketing campaign for vendors

With Rello, we are starting by enabling payments for vendor paid advertising and marketing costs to be accepted instantly by providing your vendor with “Pay Now” and ‘Pay Later’ options directly from ARO.  This ensures your cashflow is managed, while also satisfying customer needs by offering them payment flexibility.
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Here are some answers to frequently asked questions about Rello

Who is Rello? 

Rello is a financing and payments business providing real estate agency operators, property management platforms and CRM platforms with Pay Now, Pay Later and funding solutions. 

How does it benefit our agency?
  1. Cash flow management. Your Agency gets paid within 48 hours of an authorised agreement enabling you to pay suppliers on time. 
  2. Better campaign. Provide your vendors with an opportunity to upgrade their marketing campaigns to get the sales price they want. 
  3. Timing Saving. Reduce time for your Finance and Administration team in sending manual payment requests.

How does Rello help agents?

  1. Take away the friction of asking your vendors for costs up-front when trying to win that sales listing.
  2. Reduce manual tasks, improve compliance and efficiency through integrations with your CRM
  3. Unlock capital by eliminating the need to have cash on hand to pay for advertising costs, for both agencies and vendors.

How much does it cost to set up?

For your Agency, it is free of charge but you do need to apply and complete an onboarding process to access this service.

What fees are associated for the vendor with using RelloPay Later service?

RelloPay charges for a period of six months a fee of 6.5% of the total cost of advertising and styling (referred to as ‘Property Marketing Costs’) to provide vendors with the convenience of paying for these services at a more agreeable time from a cash flow perspective.
The minimum RelloPay will provide is $1,000, with the minimum fee being $100. 

Is there a maximum amount RelloPay will fund?

RelloPay will fund up to 2% of the expected sale price of the property to a maximum of $25,000.

What can the amount financed be used for?

A range of marketing costs such as: 
  1. styling and furniture hire 
  2. minor renovations (e.g. landscaping, painting)
  3. vendor paid marketing, including real estate portals, photography, etc. 

How are my advertising, styling and home improvements paid?

RelloPay makes a payment for the full amount required to your agency. In turn the agency pays the parties providing the vendor's property marketing services.The vendor's liability to repay RelloPay starts from the time that the vendor signs our Vendor Agreement.

When is repayment due?

The Vendor Agreement sets out when this amount is to be repaid by the vendor to RelloPay. It is typically the earlier of the following events: 
      - upon settlement of the property; or
      - when the deposit has been released.
The selling Agency will typically process the payment to Rello on behalf of the vendor out of these proceeds of the sale.  However, the Vendor Agreement will identify a “buy-back date” upon which the vendor must repay to RelloPay the amount that has been advanced on their behalf by RelloPay. If the property sells and the settlement date falls beyond the buy-back date, payment is still due on the buy-back date. The maximum funding period is 6 months from the signing of the RelloPay Vendor Agreement by the vendor. 

How will the vendor know when their payment is due?

RelloPay will let you know when payment is due, including sending the vendor an invoice to let them know when they need to make payment. Payment is typically made from the proceeds of sale/ settlement; if this doesn’t happen it’ll be up to the vendor to pay us the amount due.

What happens if a vendor withdraws a property from sale?

If for whatever reason, the vendor decides to withdraw their property from sale, any marketing and styling costs which RelloPay has funded, by payment to the agency, must be paid by the vendor at the earlier of the withdrawal date or the Buy-Back Date.

What if the property doesn’t settle?

If the property doesn’t settle, or the deposit is not released by the Buy-Back Date, the vendor will still need to pay Rello the Marketing Costs plus our fees. If payment is not made, RelloPay has the right to place a caveat  on the vendor's property.

Vendor needs more advertising and styling?

Simple. As long as the maximum amounts (2% or $25,000) have not been reached you can submit an additional funding request through to Rello. 

What customers will be eligible for the Pay Later option? 

  1. be at least 18 years old
  2. a permanent resident or citizen of Australia
  3. hold a valid driver’s license, passport, or Medicare card
  4. hold a valid Australian credit or debit card
  5. have a valid and verifiable email address and Australian mobile telephone number
  6. agreed sales authority with your agent
  7. you agree to our terms and conditions once we have activated your account

Does Rello perform a credit check?

We do not conduct credit checks.

Is Rello secure?

The Payment Card Industry Data Security Standard represents a common set of industry tools and measurements to help ensure the safe handling of sensitive information. We are compliant with these security standards which encourage all businesses that store payment account data to help lower the brand and financial risks associated with account payment data compromises. For more information, please refer to www.pcisecuritystandards.org

What listing types can you provide funding for ?

Rello only provides funding for the adrvertisement of residential sales listings. They do not fund for the advertisement of Land, New developments or Commercial type listings. 

We are based in NZ, can our vendors access funding from Rello?

At this time, No. Rello provide funding for Australian based addresses only.

Want more information ? Contact RelloPay