A multi-market real estate agency was spending $25K-$30K per month on Google Ads but hemorrhaging budget on unqualified leads. The root causes were structural: broken conversion tracking, broad match keywords without negative coverage, generic landing pages, and Smart Bidding running on bad data. By rebuilding tracking, restructuring campaigns around buyer intent, building dedicated landing pages, and re-enabling tCPA with clean data, the agency cut cost per qualified lead meaningfully while improving lead quality across every market. This case study breaks down each fix in sequence and explains why real estate advertisers need systematic, continuous execution to compete in a high-CPL vertical.
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