1 00:00:00.450 --> 00:00:03.330 Johny Fernandez: On January 31, New York's Department of State 2 00:00:03.330 --> 00:00:06.810 issued guidance on a 2019 housing law. Buried in the 3 00:00:06.810 --> 00:00:09.750 details was a rule that prohibits real estate brokers 4 00:00:09.840 --> 00:00:13.650 from charging a broker fee to tenants on rentals. The rule was 5 00:00:13.650 --> 00:00:16.950 like an atomic bomb in New York's ultra competitive rental 6 00:00:16.950 --> 00:00:21.480 market. So no more broker fees? Not so fast, says a New York 7 00:00:21.480 --> 00:00:24.570 Supreme Court Judge. A preliminary injunction has been 8 00:00:24.570 --> 00:00:28.710 put into effect and the dispute over its implementation likely 9 00:00:28.710 --> 00:00:32.430 won't be decided until March. Until then, New Yorkers can 10 00:00:32.430 --> 00:00:36.180 still expect to pay broker fees on apartments and home rentals. 11 00:00:36.360 --> 00:00:39.150 Speaking of brokers, you've probably already heard about the 12 00:00:39.150 --> 00:00:42.060 famous "Brokers are Better" commercial that ran during the 13 00:00:42.060 --> 00:00:45.540 Superbowl. Brendan Garrett, one of our reporters here, was able 14 00:00:45.540 --> 00:00:48.600 to get some of the backstory on that. Brendan, and what can you 15 00:00:48.600 --> 00:00:49.560 tell me about that? 16 00:00:49.750 --> 00:00:52.150 Brendan Garrett: Yeah, so the company behind the ad is called 17 00:00:52.150 --> 00:00:55.000 United Wholesale Mortgage, and they're based in Pontiac. And 18 00:00:55.000 --> 00:00:56.620 the reason they were putting out the ad is that they were 19 00:00:56.620 --> 00:00:58.930 promoting a new website that they have called 20 00:00:58.930 --> 00:01:01.870 findamortgagebroker.com. I actually spoke with United's 21 00:01:01.870 --> 00:01:04.750 Chief Marketing Officer Sarah DeCiantis, who explained to me 22 00:01:04.750 --> 00:01:07.360 that the ad is really an attempt to get the word out for their 23 00:01:07.360 --> 00:01:10.150 independent and local brokers that they work with. In her 24 00:01:10.150 --> 00:01:12.430 words, it was a question of how do we allow them to get out 25 00:01:12.430 --> 00:01:15.670 there? And DeCiantis tells me that a lot of these brokers 26 00:01:15.670 --> 00:01:17.920 they're often sidelined and unable to compete with the 27 00:01:17.920 --> 00:01:20.920 bigger retail lending companies who have these massive budgets 28 00:01:20.920 --> 00:01:21.850 to put into their marketing. 29 00:01:22.120 --> 00:01:23.980 Johny Fernandez: and Brendan they promoted a hashtag 30 00:01:23.980 --> 00:01:26.560 #brokersarebetter. Are people using that? 31 00:01:26.580 --> 00:01:27.810 Brendan Garrett: Yeah, for sure. So it's actually getting 32 00:01:27.810 --> 00:01:31.140 some traction on Twitter, more so than any other social media 33 00:01:31.140 --> 00:01:35.580 site. And it's been used by brokers who are about affiliated 34 00:01:35.580 --> 00:01:39.060 and not affiliated with United to get more customers in. So 35 00:01:39.090 --> 00:01:40.290 yeah, definitely getting some use. 36 00:01:40.410 --> 00:01:41.820 Johny Fernandez: Brendan, thank you so much. 37 00:01:43.000 --> 00:01:43.270 Brendan Garrett: No problem. 38 00:01:43.360 --> 00:01:45.580 Johny Fernandez: Keeping up with brokers, we're going to announce 39 00:01:45.580 --> 00:01:48.910 the winners of the Broker Fair 2020 "Love of Networking" 40 00:01:48.910 --> 00:01:52.540 raffle. This contest was promoted on social media and the 41 00:01:52.540 --> 00:01:56.380 winner today will get two free tickets to Broker Fair 2020 on 42 00:01:56.380 --> 00:01:59.950 May 18th. Here with us today is deBanked's Director of Events 43 00:01:59.980 --> 00:02:02.860 Janene Machado who is going to pull out the lucky winner and 44 00:02:02.860 --> 00:02:05.740 Janene, where will Broker Fair 2020 take place? 45 00:02:05.780 --> 00:02:08.840 Janene Machado: Thank you Johny. Broker Fair 2020 will take place 46 00:02:08.840 --> 00:02:12.320 at Convene at Brookfield Place steps away from One World Trade 47 00:02:12.320 --> 00:02:13.880 Center in New York City. 48 00:02:14.110 --> 00:02:15.940 Johny Fernandez: Awesome. So could you do the honors and pull 49 00:02:15.940 --> 00:02:16.810 out the lucky winner? 50 00:02:16.870 --> 00:02:17.950 Janene Machado: More than happy to 51 00:02:19.660 --> 00:02:25.540 And the winner is? Tiffany Hernandez. Tiffany, we will be 52 00:02:25.540 --> 00:02:29.050 in touch to tell you more about how you can claim your tickets. 53 00:02:29.380 --> 00:02:32.080 Johny Fernandez: Congratulations Tiffany. And for anyone else out 54 00:02:32.080 --> 00:02:35.800 there who wants to come to deBanked's biggest event ever, 55 00:02:35.860 --> 00:02:39.340 you can register at brokerfair.org. I'm Johny 56 00:02:39.340 --> 00:02:42.160 Fernandez with deBanked News. I'll see you next time.