The short answer
Buyer searches like "homes for sale in [city]" usually cost $1.50-$4 per click in the US, while seller searches like "what's my home worth" or "sell my house" cost $5-$15. Agents and small teams typically spend $1,000-$5,000 a month. Seller leads cost more but are usually worth more, and both need months of follow-up.
Cost per click for common real estate searches
| Search | Typical CPC | Intent |
|---|---|---|
| Homes for sale in [city] | $1.50-$4 | Early to mid-stage buyers; portals dominate |
| [Neighbourhood] condos / new builds | $1.50-$5 | More specific, often better leads |
| Real estate agent near me | $3-$10 | Mixed buyers and sellers |
| What's my home worth / home valuation | $5-$15 | Seller leads, often months from listing |
| Sell my house / listing agent | $5-$15 | Higher intent sellers |
| We buy houses / sell house fast | $15-$50 | Investors bidding; very competitive |
UK estate agents see similar patterns: valuation searches cost the most, property search terms are dominated by the big portals.
Why real estate leads need a different yardstick
In most industries you can judge Google Ads within a month. In real estate, a buyer who registers today might transact in six to twelve months. Judge a campaign on closed deals in month one and it will always look like a failure.
Portals like Zillow, Realtor.com and Rightmove own most "homes for sale" searches organically and bid on them too. Competing head-on for broad buyer terms is expensive. Agents usually do better with seller-focused campaigns, neighbourhood-specific terms, and landing pages that offer something portals can't: local knowledge, off-market listings or a real valuation.
Worked example: a seller-focused campaign
A small team spending $2,500 a month on valuation and "sell my home" searches at around $8 a click, sending people to a local valuation page.
| Step | Example |
|---|---|
| Monthly ad spend | $2,500 |
| Average cost per click | $8.00 |
| Clicks | 313 |
| Conversion rate to valuation requests | 10.0% |
| Valuation requests | 31 |
| Cost per valuation request | $80 |
| Close rate to listings sold | 5% |
| Listings sold | 1.6 |
| Cost per listings sold | $1,600 |
| Average commission | $10,000 |
| Revenue | $15,625 |
| Return on ad spend | 6.3x |
About $80 per valuation request and $1,600 per listing sold, around 6.3x return, most of it arriving months later. A structured follow-up plan (calls, email, market updates) is what turns a 5% close rate into 8%.
Where real estate ad budgets get wasted
Rental searches
"Apartments for rent" and "houses to let" match buyer keywords unless you exclude them.
Chasing portal traffic
Bidding on broad "homes for sale" against the portals is costly. Specific neighbourhoods and property types are cheaper and convert better.
No follow-up system
Most real estate leads aren't ready today. Without CRM nurture, paid leads just go cold.
Instant valuation tools with no human
Automated valuations get lots of leads and few conversations. Pair them with a real follow-up from an agent.
How to get more from a real estate budget
- 1
Focus on sellers
Valuation and listing searches cost more per click but lead to listings, which bring buyers with them.
- 2
Go hyper-local
Neighbourhood and development names are cheaper than city-wide terms and attract people with a clear plan.
- 3
Connect your CRM
Import appointments and signed listings as conversions so Google learns which leads become business.
- 4
Retarget for months
Cheap remarketing on Google and Meta keeps you visible through a long decision.