A domain name uniquely identifies a website on the Internet. I've seen many real estate sites with cute or short domains that have nothing to do with the content of the site. If your goal is to rank in the search engines then this is not the right thing to do, however. When you are trying to brand something - short and cute goes a long way. The fact is that not too many of us are trying to become the next RE/Max. We just want to attract groups of buyers or sellers.
For search engine optimization purposes you want your domain to be as close as possible to the content of the site. If you are a real estate agent in Alabama targeting the keywords "Alabama real estate" it may prove to be an endless task. However, if you write original content about your city or better yet neighborhood your search engine optimization efforts may not be so futile. To choose a new domain for a new site you want to first think about what sort of content the site will consist of. There is a subdivision in Scottsdale that many agents farm, called Grayhawk. Not a lot of agents have a website for Grayhawk, however. They claim to be the expert in the area, but don't know enough to write a little something about it.
If I was farming this subdivision (which I'm not) I would write 3 to 4 pages of content about the community after doing some real research. Next, I would decide which content is the most relevant to the purpose of my site (which is to attract buyers that are searching for homes in Grayhawk and homeowners in the neighborhood who are looking to sell). This content would go on the home page of my site. I would then choose a domain relative to the keywords. For example, if the keywords were "find homes for sale in Grayhawk" I would choose a domain like "Grayhawkhomes.com" or "Grayhawkrealestate.com", etc. You may have to get creative and come up with something like "Grayhawkhomes-forsale.com" if all of the good keyword based domains are taken. Hope this helps some get your site ranking. "BobBarkerrealestate.com is not the sort of domain you want when your target market is Alabama Home Buyers