Watch out for Lennar Homes. This builder puts inventory in the MLS and advertises 3%. They get you and your client in the door and then use a bait and switch tactic where your client is likely to end up purchasing a home that isn’t listed in the MLS and you may now get paid 2% for your hard work and bringing them a home buyer. They have a program that the first client you bring incentivizes you with a pay cut of a 2% co-broke. The second client you bring to Lennar pays 3% co-broke but they are so excited to tell you that if you bring a third client, you’ll get paid 4%! How likely is it that you’ll bring 3 clients to Lennar Homes…. Oh, I forgot to mention -the kicker is that it has to be in the SAME CALENDAR YEAR. I brought them 3 clients within 4 months to 3 different communities. All three transactions will close between January and June 2020. BUT, I brought 2 clients at the end of 2019 and the third client in January of 2020. I’m back to 2%.
We must abide by strict rules and regulations set by the Department of Real Estate and the National Association of Realtors to protect the consumer. However, home builders get away with so much that we as resale agents would get in big trouble doing. They are allowed to use the photos of the model home for a spec home which has completely different finishes. This totally confused my buyer, by the way. She thought the house listed for $292,000 had those awesome counters, cabinets and tile floors when in reality -the spec listed for sale at that price had base finishes….looking NOTHING like the model home. Again, wouldn’t we get in trouble for using the photos of another home in our listings -isn’t that false advertising?
I called the Sales Manager to ask about this, Steve was rude. When the market shifts and you need us resale agents to bring our clients to help you sell your homes, don’t call me.