An agreement with Rello is not a loan, it’s an invoice factoring contract.

Invoice factoring is a concept commonly used by businesses in Australia since the 1970’s, and works as follows:

1. A property owner wishes to sell their property and in doing so incurs costs including advertising, styling, minor repairs to the property, legal fees and other costs (mostly all facilitated by their agency).
2. The property owner sells to Rello a right to a portion of the future sale proceeds, and in return Rello pays the property owner’s marketing costs to the agency today.
3. When the property is sold, the property owner buys back that right from Rello, for the value of the marketing costs plus a service fee.

Rello makes this process easy, secure and compliant using our proprietary technology platform.

An agreement with Rello is not a loan, it’s an invoice factoring contract.

Invoice factoring is a concept commonly used in businesses in Australia since the 1970’s, and works as follows:

1. A property owner has an unconditional contract for sale of their property, and wishes to access the deposit paid by the buyer prior to the contract settling.
2. The property owner sells to Rello a right to a portion of the future sale proceeds.
3. As the sale is settled, the property owner buys back that right from Rello, for the value of the funds provided plus a service fee.

Rello makes this process easy, secure and compliant using our proprietary technology platform.

When activating an agreement with Rello, you are selling the right to a portion of the future sale proceeds from your property sale, and later buy back this right from Rello to close the agreement.

For our marketing service, you must buy back Rello’s right to future sale proceeds on the earlier of:

1. If the property is withdrawn from sale, on the date of that withdrawal, or
2. If the property is sold, on the date the deposit is released to you, or
3. If the property is sold, on the settlement date, or
4. 180 days after the agreement is activated by Rello

For our deposit access service, you must back Rello’s right to future sale proceeds on the earlier of the date the property is withdrawn from sale or the settlement date.

The contract between Rello and you is just that – between Rello and you. While some agencies will assist you managing the process with Rello, you are ultimately responsible for your contract.

1. Your agency is not responsible for your agreement, or arranging the buy back (although some may assist you in this process).
2. You are responsible for reviewing and understanding the terms of your agreement, using the digital/online process provided by Rello.
3. You are responsible for ensuring any updates or changes to your sale process are advised to Rello (although your agency may facilitate much of this for you).

Rello provides you with transparent communications and a secure portal to make this process super easy, and also works with real estate agencies and real estate software providers to enable powerful automations to further assist!

Your agent does not sell or market Rello’s services, nor does Rello pay “kickbacks” or incentives to agents.

Agencies use Rello’s payments platform to collect payments, with the choice of payment method in your control. 

Agencies may assist you by securely providing information Rello requires to assess and manage a funding agreement. Rello’s platform ensures you ultimately approve your agreement and any subsequent changes to it – agencies cannot act arbitrarily to affect your contract with Rello.

Rello will only make payments for marketing services to your agency.

Agencies are not involved in Rello’s service to access your deposit.

Rello charges a simple flat service fee based on the requested amount of funds, calculated and displayed to you transparently for approval prior to any request being submitted to Rello. 

Depending on the nature of the property sale, Rello may apply additional fees to your agreement – in this case, Rello will advise you up front and seek your approval/confirmation before proceeding to activate an agreement.

As Rello is buying a right to a portion of the future sale proceeds, the future sale proceeds must be demonstrated to cover:

1. All debts and financial claims on the property (e.g. mortgage, existing caveats, strata invoices)
2. All sale costs (e.g. agency commission, legal fees)
3. Rello’s share of the sale proceeds

Rello assesses each request on it’s own merits considering the property, the nature of the listing, the estimated sale price, typical sales duration for the property profile and location, sales history for the specific property, and other factors.

For marketing costs, Rello typically will not advance more than 2% of what we believe to be a reasonable estimate of the sale price, however any decision to fund is ultimately made in context of the individual listing.

For accessing a deposit, Rello will not advance more than 80% of the deposit held in your real estate agency’s trust account, up to a maximum of $250,000.

As an agreement with Rello is not a loan, and in context of the assessment process noted above, Rello does not require credit history checks for individual property owners.

Rello does verify the identity of property owners or authorised parties entering into a contract, using Equifax Australia’s proprietary services to ensure compliance with relevant regulation. We also verify mobile numbers, card/account details and other property information in support of a property owner’s request.

All data is stored securely for periods determined by regulation (depending on the nature of the transaction), with access controls ensuring appropriate visibility and use of data within Rello. Refer to our privacy policy for further information.

Rello won’t provide the service unless we are confident that your property will sell within 180 days, for a value that clears debts on the property + sale costs + the buy back of Rello’s right to future sale proceeds – ensuring Rello’s service will not in itself cause you financial hardship.

Rello does require you to transparently share information with us to assist in this assessment, and keep us informed as the property sale progresses or your personal circumstances change such that the property sale is impacted. 

Where you do require financial hardship assistance to complete your agreement with Rello, we’ll work with you to achieve an affordable solution.

First, clarify who your dispute is with – your agency or Rello. Most disputes around a property sale are between the property owner and their agency, and a dispute with your agency does not remove your obligation to honour the terms of the contract with Rello. 

Remember, Rello is a payment service provider – it may be helpful to think of an analogy with your credit card; you may buy a service with your card and then dispute the service, but you still need to pay your credit card bill at the end of the month.

Where you believe you do have a complaint or dispute with Rello’s service:

1. Confirm you are clear on the T&Cs of your agreement with Rello (often a quick read can clear up simple misunderstandings early on).
2. Engage directly with Rello’s support team, clarifying the nature of your dispute and the resolution you seek – we almost always can resolve things quickly with a simple direct chat.
3. If you are not able to resolve things directly with us, you always have the right to complain to AFCA (we recommend you review the AFCA complaint process in detail, be clear on your obligations and what AFCA does in the process).

Rello operates a range of card and account-based payment services on behalf of real estate agencies in Australia. 

Card payments are handled via Nuvei Australia Merchant Services Pty Ltd (AFSL 524044). Account-based payments are handled via Monoova Global Payments Pty Ltd (AFSL 421414).

Rello is a privately owned Australian business started by a group of finance and technology professionals who believe that payments and compliance within the real estate industry should be a lot easier.

We work with major Australian real estate brands and software companies to offer relevant, powerful, automated and integrated solutions for payments that ultimately add to the joy of a sale for property owners.

We work with Australian data service providers, payment service providers, private credit funds and others to bring together a singular payment experience – secure, automated, simple and transparent.