I am not sure what you mean by first page listings "wont convert" - do you mean that they will receive no clicks or that the people that do click will not convert to dollars?
There is a declining number of clicks to be received based on position in the serps and after the top 3, the number of clicks really drop off. There are still some clicks to be had though - even up to half way down page 2 in my experience - and those people are just as likely to become $$ as a click received from the top 3 positions.
The numbers of clicks one would receive dropped off a lot after Google moved their ads in from the right page margin (a year or so ago if I remember correctly). It used to be that there was a clear difference between the ads and the organic results so people were less likely to click on the ads and more likely to click on the real search results. Not anymore.
Targeting long tail keywords gives you a better chance of being in the top 3 and there are less ads to compete with. I used to be a big proponent of primarily targeting the most popular "city real estate" type keywords but things have changed and it is probably more productive to target the long tail keywords than to obsess over the most popular keywords because the number of clicks one receives for most of these keywords is probably no longer worth the time and effort and/or money to obtain page 1 positions.
Good positions are easily obtained for long tail keywords just by using your Wordpress blog regularly