How are my advertising, styling and home improvements paid?
Rello makes a payment for the full amount required to your real estate agent, who in turn, pays the parties providing your property marketing services. Your liability to pay Rello starts from the time that you sign our Vendor Agreement.
What fees are associated with using Rello’s Pay Later service?
Rello charges a fee of 5.5% of the total cost of advertising and styling (referred to as ‘Property Marketing Costs’) for a period of three months (90 days) to provide vendors with the convenience of paying for these services out of the proceeds of the sale rather than paying upfront. After this initial 90 days, the fee is 1.5% per month (30 days) for each month or part thereof. There is a minimum Service Fee of $100.
For example, if your property marketing costs were $5,000 and funding was provided for three months, Rello would advance the funding needed to pay the marketing costs and the amount owing to us would be $5,275 ($5,000 x 5.5%).
Is there a maximum amount Rello will fund?
Rello will fund up to 2% of the expected sale price of the property up to $25,000.
When is payment due?
The Rello Vendor Agreement sets out when this amount is to be paid by the Vendor to Rello. It is typically the earlier of the two following events:
- upon settlement of your 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 pay Rello the amount that has been advanced on their behalf by Rello. If your 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 acceptance by the Vendor.
How will I know when my payment is due?
Rello will let you know when payment is due, including sending you an invoice via email and SMS to let you know when you need to make payment. Payment is typically made from the proceeds of sale/settlement; if this doesn’t happen it’ll be up to you to pay us the amount due.
What happens if I withdraw property from a sale?
If for whatever reason you decide to withdraw your property from sale, any marketing and styling costs which Rello has funded by payment to your real estate agent must be paid at the earlier of the withdrawal date or the buy-back date.
What if the property doesn’t settle?
If your property doesn’t settle, or the deposit is not released by the buy-back date, you will still need to pay Rello the marketing costs plus our fees. If payment is not made, Rello has the right to place a caveat on your property.
Need more advertising and styling?
Simple. Just let your agent know and we’ll make it happen and send you the details via email.
How much does it cost to set up?
For your Agency it is free of charge but you do need to apply and onboard to access this service.
What customers will be eligible for the Pay Later option?
- be at least 18 years old
- a permanent resident or citizen of Australia
- hold a valid driver’s license, passport, or Medicare card
- hold a valid Australian credit or debit card
- have a valid and verifiable email address and Australian mobile telephone number
- agreed sales authority with your agent
- 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.
