In real estate, each lead can be worth thousands of euros in commission and many contacts aren’t serious. 2026 news calls for three cares: structure by language and intent (campaign-level language targeting was removed from Search, according to a compilation), control of AI Max, which widens searches (Search Engine Land), and own data with a connected CRM (Safari 27 blocks third-party email identity). Measure scheduled visits and offers, not just contacts.
What makes real estate special
High-value decisions, long cycles, many browsers and competition from portals. An agent pays per click, but earns per visit, offer and deed. The gap between cost per contact and cost per closed deal is large, and that’s where the decision lies.
If your agency reports only contacts, you don’t know what the investment is worth.
Structure by intent and language
Separate demand to buy, rent, invest, sell (property acquisition) and valuation. For foreign buyers, keep campaigns and pages in their language, with keywords in the same language. Relevant Audience’s compilation records the removal of campaign-level language targeting in Search at the end of September 2026, so separation should be in keywords, ads and pages.
Acquiring owners who want to sell is a different goal from acquiring buyers: different message, page and budget.
Real estate: from contact to deed
- Qualified contact
- Scheduled visit
- Offer
- Closed deal
- Cost and close rate by source
AI Max: controlling search widening
According to Search Engine Land, since 1 September Google migrates eligible campaigns to AI Max, which widens the searches reached. In real estate, it may capture useful searches (“2-bed with balcony in Porto”) and useless ones (“real estate internship”, “agent course”). Configure location, brand exclusions and text guidelines, and review search terms frequently.
Ask the manager to show the terms that brought qualified contacts.
Pages and forms that qualify
Show price or range, location, features and good photography. Ask questions that filter without scaring: budget, timeline, financing, interest in a visit. A short form attracts more contacts; a longer one attracts more serious ones. Test the balance.
Quick service is decisive: a contact answered in minutes has much better chance of a visit than one answered next day.
The close rate by contact source should guide the budget.
AI Overviews and portals: where demand is
According to Semrush, cited by PPC Land, AI Overviews appear in 88% of commercial keywords in a sample of 400 US keywords, and clicks from AI remain thin. It isn’t Portuguese or real estate data. What it suggests is prudence: don’t depend only on organic traffic or portals, and measure what arrives from each source.
An agent with a strong local brand, useful content on areas and processes and real reviews is better protected from changes.
Own data and CRM
Safari 27 blocks, according to PPC Land, third parties that turn emails into persistent identifiers. For an agent, the answer is a CRM with each contact’s source, deal status and value, and importing real conversions to platforms. Ensure consent for contacts and for lists used in advertising.
Without a connected CRM, the manager optimises blind.
Simple lead value maths
If the average commission is 6,000 euros, 1 in 40 contacts closes a deal and cost per contact is 25 euros, cost per deal is 1,000 euros, well below the commission. If 1 in 200 closes, it becomes 5,000, and margin disappears. The example is hypothetical; your business numbers decide.
That’s why the close rate by contact source should guide the budget.
How to hire whoever manages campaigns
Ask for real estate cases, structure by intent and language, measurement to visit and offer, reports by source and AI Max policy. Distrust anyone promising “guaranteed leads” or charging per lead without defining what a valid lead is.
Ask how they filter contacts with no real interest and how they connect the CRM.
Questions for your manager
How much does a scheduled visit and an offer cost per channel? How do we separate languages? Which search terms did AI Max bring? Which contacts were browsers? Is the CRM connected? What data do we have with consent?
If you want to review your agency’s campaigns with focus on visits, offers and CRM, I can help set up the plan and measurement.
Summary in three lines
In real estate, what counts is the visit and the offer, not the contact. Structure by intent and language, control AI Max and connect the CRM. Calculate cost per closed deal and decide the budget by source.
Frequently asked questions
How much should I pay per lead?
It depends on commission and close rate. Calculate cost per closed deal, not just per contact.
Should I advertise to foreign buyers?
If you can serve them and have pages in their language. Structure by language and measure separately.
Does AI Max suit real estate?
It may capture useful searches, but requires control and term review.
Sources consulted
- Relevant Audience: Google Ads deprecations 2026 and 2027, the full timeline
- Search Engine Land: Google to auto-upgrade some Search campaigns to AI Max
- PPC Land: Google AI Overviews reach 88% of commercial searches as AI clicks stay thin
- PPC Land: Safari 27 blocks identity firms as search falls to 12% of publisher traffic
Keep reading
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