i kinda hate it. it doesn't "brand" the company at all. it'd be like ford motor company using a picture of a truck as a logo. you need to get out of the box and not use those buildings. living is a condo is horrible, so don't remind the clients that they will be trapped in a giant building by showing it over and over again. the look of it borders on institutional.
create a logo that has more emotional content, like the name of the company laid over a modern vector of a door knocker. that way they'd be reminding the clients of "their property" i.e. their condo/door. not that they are sharing it with a bunch of strangers because it's more affordable than an actual home.