We have taken Wordpress MU, and connected it to our real estate listing database. You can create a wordpress blog in 2 clicks. We take the street name to create the subdomain for the listings and automatically add pages during install. We add about me, featured listings, contact forms, etc... So in 2 clicks you have a full property website with blogging so you can tell the public about open houses, and the neighborhood. You can also make it private for only communication between the agents and the homeowners.
sample blog:
http://1721alabama.realivent.com