A 17-year veteran of the industry, Naz’ daily experience of payments systems was common to many in the sector: he’d grown increasingly frustrated at the time wasted waiting on bank approvals, navigating transfer limits, and dealing with delays—especially on weekends when banks are less responsive and auction sales peak.

NAB Portal Pay was developed by NAB exclusively for real estate professionals like Naz with the aim of tackling longstanding pain points around payment processing. The new system allows agents to receive sales deposits in real time*, within minutes rather than days, eliminating the traditional three-to-five-day waiting period for payments to clear trust accounts.

Naz explains: “NAB Portal Pay has given our customers a quick and easy-to-use payment system so their funds can transfer almost instantly, making the payment process simple.”

Enhancing the customer experience through technological innovation

NAB developed its new payment platform, NAB Portal Pay, specifically to help reduce the complexities and administrative challenges associated with property sales and rental transactions.

NAB Executive for Business Metro and Specialised, Julie Rynski explains: “The Australian real estate market is a core part of the Australian economy, yet the payment systems and processes that service it, haven’t kept pace.”

The platform provides a real-time payment solution for real estate professionals receiving deposits from private sales or auctions.

“The NAB Portal Pay system has enhanced my team’s ability to streamline the payment process for our real estate customers,” Naz recalls. “What really struck me was the simplicity and ease of using the system. At the end of the day, our time is money and NAB Portal Pay has provided us with a simple solution to give my team and our customers time back in their day.”

Making milestone moments happen

Naz, father of five, pivoted to residential real estate following the 2008 Global Financial Crisis, where he worked at another real estate agency for 8 years.

Since then, Naz has been the Director of Ray White Coburg for almost nine years, and with over 20 years of experience in the real estate sector he has witnessed the progression of technological change.

Having grown up in Melbourne’s north inner city, Naz’s local knowledge and understanding of the community has equipped him with the ability to service both buyers and vendor’s needs. His successful approach to dealing with clients has seen him sell over $500 million worth of property over his time in real estate. He credits his success to a customer-first approach at all times, built on being professional, communicating ‘everything’, delivering ‘WOW’ customer service and, lastly, a ‘love-what-you-do’ attitude at all times.

Naz and his team play an integral role in life-changing milestones for his customers, from purchasing their first home, upsizing (or downsizing), and to seeing their customers build wealth by purchasing investment properties.

“Purchasing a home is a huge milestone and I’m incredibly lucky to support so many people in achieving their life-long goals. However, purchasing a property can be a daunting experience, especially for first-time homebuyers who have never made such a large purchase,” Naz says.

Changing the real estate game

In addition to faster payments processing, the platform also allows customers to access features designed to shave time off their rent roll reconciliations.

Ms Rynski adds: “Real estate agents, buyers and renters can expect a much more simplified user experience combined with state-of-the-art security features to facilitate fast, safe transacting.”

If you’d like to find out more about NAB Portal Pay, speak to your Real Estate banker today, or visit nab.com.au/portalpay

Important Information

*Real time payments are only available where the payer’s bank supports real time payments and does not impose any holds or delays in respect to the payment (e.g. such as where some banks delay a payment for up to 24 hours when a payment is being made to a new payee for the first time). Some financial institutions may also impose payment limits

NAB Portal Pay is subject to the NAB Portal Pay Terms and Conditions and only works with payments made into NAB Statutory Trust Accounts. NAB Portal Pay is issued by NAB.
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