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