Special offer

Second Life - Money Trouble - Virtual Foreclosures?

By
Real Estate Agent with Accessibility & The Power to Advise

Earlier in the year, Coldwell Banker (follow link below to story) decided to set up shop in the virtual land of  Second Life.  I thought that was pretty clever, going against the grain of the dinosauristic realistic "presence" of business as usual.  (EvenI joined Second Life for fun, I didn't get far.  I haven't even built my avatar.)   

But look what has followed:

  Technology Review - Published By MIT

Money Trouble in Second Life

Second Life's financial sector is being rocked by a series of upsets that could spell trouble for the virtual economy.

"...Second Life, which was created by Linden Labs of San Francisco, is an online world where players can buy and sell all kinds of goods and services. The game's economy is based on fictional currency, called Linden dollars. But those dollars do have real-world value: players can buy or sell Linden dollars at a rate of about L$270 to $1 on the Lindex market. Second Life's website even boasts that "thousands of residents are making part or all of their real life income from their Second Life businesses."

The article does not mention Coldwell Banker, I just put the two together since they are in the same make-believe virtual world. 

Here is a website link with the links to many companies participating in Second Life:  Click Here For List

I look forward to seeing how this story "plays" out.

CNNMoney.com

Coldwell Banker's Second Life

Don't think the Second Life land rush is over. Now a huge real estate firm is entering the 3D virtual world, as the service's headlong growth continues, reports Fortune's David Kirkpatrick.

 

I do have to say the whole thing made me think:

  • Will there now be "virtual foreclosures"? 
  • Will I start to get emails from real estate spammers who want to coach me in "virtual short sales"?
  • Is there a designation for virtual agent proficiency
  • and can I get credits for continuing virtual education?

 

 

 

Comments (4)

Justin Hayward
TLC Realty, LLC - Gray, ME
Just Call Justin!
Wow, I wish I had that kind of time on my hands...
Aug 08, 2007 02:46 PM
Ruthman Real Estate
Accessibility & The Power to Advise - Fairfield, CT

Hi Justin, 

That's a good comment!  I should clarify that I registered on Second Life, and started to build an avatar and never finished.  I wanted to see what Second Life was all about but didn't quite make it into the next world, but I guess Coldwell has a presence there.

Thank you again for commenting.

Best wishes and much continued---Rhonda

 

 

 

Aug 09, 2007 01:32 AM
"The Lovely Wife" The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Chris/Rhonda

After reading the first comment you put on my post, I had to come check this out.

I to wonder if we'll start seeing bizarre happen to bizarre :)

Second Life is a trip :)

TLW...ROAR!

Aug 09, 2007 11:27 AM
Ruthman Real Estate
Accessibility & The Power to Advise - Fairfield, CT

TLW, 

Your post was very interesting, The Future Is Made Of Virtual Insanity...Or Not...ROAR!    Sorry about my confusion.  I am going to print out your links and read them (while I lay on my couch).  :)  

Have a great evening!  Best wishes---Rhonda  

 

 

Aug 09, 2007 12:06 PM