We’re big fans of PJ Enchanted. This is one of the nicer free templates that we’ve seen out there. A solid color scheme, clean design and easy navigation layout. The template is also XHTML & CSS verified and has multiple module position choices for additional customization. Demo Download
Anelco is an extremely versatile and clean template from Veero.net that could be used for nearly anything just by swapping in some new graphics. Easily usable for a medium to small sized business or perhaps for a residential or commercial realtor. Download
The MyPortfolio template was (as the name suggests) designed for personal portfolio sites, but could easily be adapted for use by a real estate agent to show off recently listed homes. Demo Download
Designed for use with either Joomla 1.5 or 1.0. Demo Download