Yes, I have had a couple of clients in this space. This is what I’ve seen…
Years ago you could generate enquiries for residential real estate fairly easily at a reasonable CPA. Not so anymore as the market has changed so people expect to go onto a site that lists properties from many agents and be able to filter and search (eg Rightmove here in the UK).
Commercial and industrial hasn’t yet caught up to this trend. There are sites that list this kind of property but the individual agent is still an important in the process. Someone looking for a place to site a new factory is OK filling in a form to talk to an agent.
Specialist stuff like buying distressed properties, self storage etc still seem to do OK for lead gen.