Template websites have the benefit of being quick and easy but search engines do punish websites as they are very similar to each other.
RealEstate.NET is in beta testing at the moment, offering FREE websites to agents but once their version 1 kicks in there members system will change besides those that where in the beta testing, so if your interested jump on now rather then waiting.
The biggest issue with template based websites is that they are often to similar to each other, I am a developer working for realestate.net and I think they have the solution within version 1 or 1.01 release.
For an example of how similar websites can be found go to
www.copyscape.com and run a search on an agents website, many of those at point2 related to around 10 other pages.
Example: search the following domains within copyscape.com to see pages a search can see as similar:
http://jasonmcgowan1.point2agent.com http://lindaslocum1.point2agent.com http://joanarkns.point2homes.biz etc
Jump onto realestate.net and let me know what you think, the more feedback the better. To setup the website in the beta isn’t fantastic, but version 1 will be the result of many peoples feedback including content packs and more.