MarketingAdvance is a variation on RelloPay, where an agency has offered to fund the marketing costs for a vendor but wishes to then finance that cost instead of using working capital.
The agreement is directly between Rello and the agency, and does not involve the vendor.
How does it work?
MarketingAdvance is accessible to agencies onboarded with Rello. Agreements can be created from the Rello portal, or via integrated partners.
Information required typically includes:
Property address
Expected sale price
Copy of the listing authority
Amount you want Rello to fund
Rello will disburse approved funds to the agency's bank account.
What are the fees?
Rello charges a flat service fee on the request amount for 120 days from the date of approval. The service fee is deducted from the approved disbursement.
The minimum service fee is $100, regardless of the requested amount.
Example (assume the service fee is 5%)
Requested amount: $20,000 Service fee: 5% of $20,000 = $1,000 Disbursed to agency: $19,000 Total repayable: $20,000 |
How much will MarketingAdvance fund?
You can access up to $35,000, subject to approval.
When is repayment due?
A MarketingAdvance agreement states repayment is due on the earlier of these milestones/events:
If the property is withdrawn from sale
When the deposit has been released
When the property is sold
120 days from approval
The agency will transfer fund to RelloPay via EFT.
Legals
As MarketingAdvance is a facility provided to an agency under a master agreement, refer to the Rello account owner and/or your specific agreement for terms & conditions applicable to your agreement.
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