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A new buy-now-pay-later platform for the real estate industry aims to roll out features to solve “just about every financing problem that plague agents and consumers”.
Starting with early financing for vendor-paid advertising, staging and minor renovations, BNPL provider Rello aims to make big waves in the real estate industry, and it already has a large base equipped with access.
Partnering with PropTech Group, the tech has just been rolled out across the firm’s VaultRE and Eagle Software CRMs, which it estimates are used by 42 per cent of agents across Australia and New Zealand.
Fidaa Haddad, Rello’s managing director, described Proptech Group’s ingestion of their technology as “an integration on steroids” and praised the company’s early support of the offering.
Of their current products, Fidaa Haddad said the firm was dedicated to helping agents get their vendors the best price at sale.
“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,” Fidaa Haddad said.
“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.”
This spring, Rello will launch with three more real estate SaaS platforms, as well as roll out tools to cater to the entire Victorian and NSW market.
By that time, it expects to also be introducing instant payments or pay-later instalment plans for items like maintenance payments to tradespersons, maintenance funding for landlords, rental bonds for tenants and agent commissions.
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