Lennar Looks to Revive Florida Sales

Recent data show the South Florida real estate market, like much of the country, may be slowing down. Some blame the recent hurricanes, others blame the departure of speculators from the market. Either way, Lennar (LEN Quote) hopes to boost sales in its Palm Beach division by raising its commissions to outside real estate brokers, after reducing them less than a year ago.

For its communities ranging from Boca Raton to Vero Beach, Lennar and its U.S. Home division are now offering a "3-4-5" program to outside brokers.

The program works as follows: If a broker sells one home, he gets a 3% commission; if he sells a second home, he gets a 4% commission; and if he sells a third home, he gets a 5% commission, according to a fax promoting the program that was sent to local brokers. Lennar's local sales offices confirmed that the program allows brokers to combine the sales across any of the nine communities in Lennar's Palm Beach division. ...