Coldwell Banker To Sell Second Life Properties
Dekortage sends news of what may be a new development in the attempted mainstreaming of Second Life. We've seen plenty of examples of real-world news media, politicos, and PR campaigns setting up in SL. But so far most of this action has been about first-life organizations trying to gain real-world publicity by their forays into SL. CNN is reporting that the real estate firm Coldwell Banker is moving into SL for the purpose of selling and renting in-world properties. From the article: "Coldwell Banker has bought extensive tracts of property on the central 'mainland' of Second Life. (Most companies own 'islands' scattered all over.) It subdivided this digital land into 520 individual houses and living units, half of which it will sell and half it will rent... 'A small number of land barons mostly control real estate in Second Life, and we thought we could bring real estate to the masses,' [a VP explained]."
Has Linden guaranteed in writing that they will never expand the world? If not, then Coldwell Banker buyers are idiots.
What is to keep Linden from increasing the amount of land? ( They did it back in 2003, IIRC ) Not only would this give them more space for more players, but it decreases the power of land barons. And having a 'new world' to explore would add more interest to the game. Anyone want to be Magellan? Or Columbus? There seems to be no downside for Linden to increase the ammount of land.
There definitely is a downside to NOT increasing the ammount of land: competition. If SL gets too crowded, that just helps up-and-coming competitors.
As supply increases, price decreases. There is not even the real-world parallel of "location, location, and location" to uphold property value in Second Life because of teleportation.
I predict that Coldwell Banker will lose their shirts on this one.
If I can get one of those 30 year, first 5 years interest-only subprime mortgages here? Maybe this is the way to "save" the sub-primes - virtual property! After all, it seems that "virtual" clients didn't work to well...
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Somehow this news made my brain urinate a little. No, I don't understand how that's physically possible, but nevertheless.
Damn.! What is wrong with you people?! Jesus.
http://www.youtube.com/watch?v=RedLyae4b2s?
and why does anyone care to set up news outlets, political campaigns, & real estate offices? It all seems rather lame to me.
OK, I have never played SL. I take it that SL is just some VR game? So, people actually pay real money so the can get a better "life" in SL? Damnnnnnnnnnnnnnnnnn! Can anyone say...... loser?
So now there is a real company selling _make_pretend_assets? You have got to be kidding me? So what happens if I create a person in SL, have this make pretend person go and get/buy a gun. Next I have this make pretend person go and shoot someone. Does that mean that in _real_life_ I get arrested for murder?
Please, I am not trolling here. I have never played these type of "life" games. I am an old-school dude that played D&D games like Secret of the Silver Blades (dang, I loved that one).
General, you are listening to a machine! Do the world a favor and don't act like one.
and how many angels can dance on the head of a pin, and other important issues...
Does this make people more or less likely to use Coldwell Banker for real (ie., meatspace) houses? Or does it matter?
I wonder how much they would sell me Badlands for...actually all I would rather have is just Uldaman, I could easily turn all of them dark iron guys into my minions and just like invade the rest of badlands, maybe setup a post in Loch Modan. I hear its nice there in spring.
"whocares".
I mean, really, people can see where this stuff is going and why there is a market for it but, honestly, beyond that who cares?
When people are too addictive to games such that the line between reality and virtuality is blurred, it starts to get into a dangerous point. Life suddenly becomes all about speculation, nothing is real and no productivity is gained for human societies as a whole.
It's the worst kind of speculation we can have, worse than speculating on the stock or commodity market. If you buy a bunch of stocks on a company, and if the market crashes, you still own bits of that company, and the company may be just doing well, making a profit every year. If you buy the so-called lands in SL, and if SL were to die, what are you left up with?
I think this is where gamings are dangerous. And this is an area where I support legislative control. We already have regulations on stock markets, on currency trading, on casino, on auction, on the general trading, etc, we might as well have regulations on the worst kind of speculation: speculation on nothing.
Who the hell actually plays Second Life? I seed tons of stories on /. and digg about it, but out of all the incredibly geeky people I know, none of them plays Second Life (or at least they wont admit to it).
i actually don't even understand this... like, i've never played second life and i simply don't even understand how one could sell land in it... i dunno, it just doesn't make sense, from an outsider's prospective. obviously, i'm not the target market, and i give props to companies for understanding this "new frontier", but still, yeah, i just don't understand...I'm gonna go back to drinking in my first life, since there are some cute girls here, but uh, enjoy second live for those people that, um, don't have a worthwhile first life...
-Taylor
Worldwide Military budgets: $2100 billion. Worldwide Space Exploration budgets: $38 billion. Really, world? Really?
The first thing I did after reading the summary was check my calendar. April 1 is still a week away though. Maybe they're just trying to get ahead in the April fools market.
So after playing SL on and off for almost 2 months, I decided to buy a property and see how I feel being an owner.
First thing I noticed was that the so called "First Land" is nothing but a legend.
So I cruise around and I find a nice spot located at the edge of the world. I think that's cool. It's nice because the edge of the world is water and I get a nice sunset with no buildings in the way. Also, it's private in one direction.
I buy the land from an online real-estate professional for around L$10K.
Two weeks later guess what happened? Huge swath of land just showed up. It was split in 64K m2 parcels. After a week or so of being there doing nothing (maybe it was still being worked on), it went on sale at auction. So much for first land.
I was hoping to buy some and do some real-estate myself, but it seems that the people who are good at it know all about how it works. All the land was quickly acquired by the same real-estates pros we see advertiseing everywhere. I hear they work with bots to buy the land.
Moral of the story? I don't think there is any. There is no moral in that game anyway. But a lot of people are very nice, so it's still fun to hang out there for that. It's also fun to just fly around and see what people create and do. There's a lot of diversity.
I don't really care about any Second Life news that don't feature flying penises.
sic transit gloria mundi
Do any of you actually spend time in Second Life? I'm not talking just popping in and poking around once in a while (I've done that), I mean you spend significant amounts of time in the world, you've actually invested some time and energy into making your character your own, and maybe you even develop content for it. I'm more interested in people who are more into the actual enjoyment of the world rather than speculators or people strictly trying to sell their wares.
The reason I ask is because so many companies seem to be on the bandwagon of this thing, but my friends are almost uniformly tech savvy early adopters and I don't know anybody who's ever logged into it other than to check it out and laugh at it. I've got nothing against it, and if anybody uses it I'm not going to laugh at you or anything. I may not see the appeal, but I don't see the appeal of a lot of things the average person likes. I just haven't seen anybody else who really likes it either, and that's made me question its popularity other than as a kind of inside joke.
I do think it's a great concept, and I'm sure true virtual worlds will be all the rage someday. I'm just suspicious that anybody actually sees this as a good enough implementation to really start spending time there. I've heard the furry community has taken up residence there to some extent, but honestly when I log in I hardly see any concentration of people anywhere, furry or not.
Game... blouses.
I play it enough, and I studied how it works a fair bit. Overall, I appreciate the game, but I'm not a big fan. If you have any questions you can go ahead, I'll try to answer everything I can.
Really, I think some people need to get a First Life [tm].
cat
From the summary:
But so far most of this action has been about first-life organizations trying to gain real-world publicity by their forays into SL
That sums up Coldwell Banker's move into SL as well.
. . . . 'A small number of land barons mostly control real estate in Second Life, and we thought we could bring real estate to the masses,' [a VP explained]."
Mainland real estate is the worst in the game and is already for the masses. It is hosted on the lowest class of servers (known as Class 3 compared to the latest Class 5) with more sims per server than "privately owned" Islands. Coldwell Banker is another stodgy corporation with no motive for being involved in virtual worlds other than trying to gain mindshare with the 18-35 demographic.
The whole financial concept of treating virtual space like real life land is flawed anyway. As metaverse-style systems evolve to become more distributed like the internet (an eventuality to which even Linden Labs concedes) these real-life style spatial limitations will seem silly. This market exists in this form only so long as Second Life is run exclusively on hardware controlled by Linden Lab. Linden Lab has already stated that at some point it intends on getting out of the hosting business and instead intends to license the SL server software. So as if a thinking person needed anyone to point this out, this land has no long term value (say 5 years). Coldwell Banker acting like they are taking SL land as a serious investment is all hyperbole. To them it is more like buying up Beanie Babies in the 90s and saying that " a small number of Beanie Baby barons control the Beanie Baby market and we thought we could bring Beanie Babies to the masses."
Gee thanks Coldwell Banker! My heroes!
Virtual World War? Virtual riots? Virtual pillaging? Virtual squatting? Virtual Crime? Lets let the value of land plumet as it would in those real life situation.
http://www.rense.com/general79/wdx1.htm
This is 100% about publicity and not money. They state that any and all profit will simply be reinvested into SL...
OTOH they do want to make the process of buying a house or land or whatever inside SL easier and more trust-worthy... maybe they will become trusted brokers for transactions and help people avoid being swindled due to ignorance of how SL works?
I look forward to more companies establishing helpful services within virtual worlds. Would be even more amusing to find companies like Toyota putting characters into middle ages style MMORGs to sell you vehicles "You really want to get the full warranty on that chariot, if it blows an axle you'll want to be covered"
A fool throws a stone into a well and a thousand sages can not remove it.
How much did Coldwell actually spend on this?
According to mmogchart.com SecondLife has around 65'000 subscribers. So if you look at all the articles about SecondLife, it looks like only journalists are actually playing the game.
Does anyone actually play this game? I had a look at it, and never met another soul.
Somehow.. it just did not appeal at all.
I have a balloon payment coming up on my castle and it's value has dropped in half since the trolls burned all the surrounding forest. You know things are bad when gaming and internet based entertainment is as stressful as the real world.
Of what happens if people stop giving a shit about a given game or perhaps "virtual universe" if you prefer. In the real world, while certain areas may experience a net loss in people, population keeps growing so overall there's more people who are in the market.
Well games, that's not the case. The player base can leave. UO and EQ are two examples of that happening. Once both were major players, and were able to claim more people playing them than any MMORPG before. Both now have dwindled to be minor players (about 1% marketshare in the case of UO). Thus if one had gotten in at the peak and banked on them continuing to grow, you'd have lost out. WoW is now the big dog by far, shattering every record before it and still growing, but for how long? At some point it will probably be supplanted by something else.
Thus speculation in game markets doesn't make sense in the same was as real markets. Expansion aside, people can simply move on, and if they do it isn't like they move to a new part of the world, they move to a completely different world (or worlds) with different rules.
Then, of course, there's always the question of what happens if the company pulls the plug. The servers go off, all of a sudden your investments are worth precisely zero.
Like well I've just got back from the Cafe, where I was discussing stockmarket spirituality with my friends. You know I'm really a very imporant person...Priceless
Second Life is a brilliant conceptual masterwork...Priceless
Its like a second me in there- not as special as the real me though...Priceless
I tried it out after getting pwned in this horrible working class game called World of Warcraft but OMG I did see Ponies in there...Priceless
When you buy a tract of land in Second Life, can you capitalize it and stick it on the balance sheet under GAAP, since it will generate revenue in future periods (in fact, much of the publicity benefit would likely come after your venture were established for a while)? If so, is it depreciable or treated like real estate? Or do you have to expense the whole amount to begin with anyhow?
/IANACPA
So I just visited the Coldwell Banker space on SecondLife (at coordinates Ranchero 214, 255,32), and I found the following sign:
"Thanks for coming to the Coldwell Banker HQ. We are currently closed but will be open for regular business on Monday 3/26/2007. Hours of Operation are Monday-Friday 7:00am PST - 5:00pm PST"
What proportion of SecondLife activity actually transpires during regular business hours? Doesn't this sign suggest the Coldwell Banker suits are rather unclear on the concept of online business? For that matter, why are they still on Pacific STANDARD Time?
Coldwell Banker doesn't appear to have thought this through very well, at all.
Something always strikes me very odd about conversations about Second Life and their ilk here on Slashdot. Invariably someone decries the concept of buying "virtual goods" and renting "virtual property".
Let's step back a bit here... What is the difference between "software" and "a virtual shirt", or "digital music"? Are they not both just some pattern of ones and zeros? Sure, a virtual shirt only makes sense in terms of Second Life... But for me this is the same as buying digital music that can be played on some hardware device. Or buying software that can be run on some subset of computers.
Virtual land... Who would rent "virtual property"? What sense does that make? Perhaps we should ask all those that rent space for web pages?
That being said, I think Second Life is kinda daft in its implementation, but the concept is very very cool.
(I was only an egg, but then I cracked)
Back in the 1980s, I was very enthusiastic about these 2 and 3D worlds. Older slashdotters may recall terms such as 'Virtual Reality' and such. Fast forward to today and it is not hard to notice a consistent flaw in people who rely upon electronics communications and escapist realities such as WOW, Second Life, MSN etc. The problem is these provide a barrier to genuine human interaction where our 5 senses come into play. So, such people become socially inept and in the eyes of those of us who have some values, incredibly rude and cold. I believe that the best use of these artificial worlds is not social interaction but simulating real world scenarios - from a business model to an aircraft design - before taking them to market or production. Those I interact with on MSN are the worst at real life social interaction - and I find this consistent, no matter the age group and am doing my best to ban iM from my company. (Yes, I use it as my team insist!) The most polite, 'together' and successful people I know do not use instant messaging or any artificial community. They use voice telephone calls and face to face meetings. I imagine this post is going to get flamed, but that is not the intent. I aim to trigger debate! Bring it on!
O'WONDERWe're working on it.
A real estate company? Please, they are used to dealing with millions of dollars, not the pennies involved in Second Life.
This is advertising but with a twist in that is slightly more then just putting up a banner. But it is advertising nonetheless and they know exactly what it is going to cost them because buying/renting land in Second Life is simple enough.
While the costs are high for a casual player for a company it is peanuts compared to even a simple direct mail campaign or even having a couple of pencils made with your logo on it.
This is NOT investment, this is NOT business, this is advertising. They would just as much loose their shirt in this as when Coca-Cola decides to sell shirts with its logo on it for cost. Yes, it is possible to totally bankrupt yourselve this way BUT I don't think that these people are that stupid.
Simply pay Linden a low monthly fee, hope it creates positive press and deduct it from the advertising budget. How could they loose? (Me starts a countdown for the number of seconds for someone to open a sexshop on Coldwell land, knowing second lifers, a furry pedo bdsm sex shop)
MMO Quests are like orgasms:
You may solo them, I prefer them in a group.
...but it's hard if there could be an all-powerful judge-jury-executioner warping in right in front of you any moment, banning you far any reason they please or no reason at all and repossessing everything you own.
Say what you will, but fascism is surprisingly effective at suppressing crime (among other things).
PS: The above is void in accordance with Godwin's law. Thank you for reading it anyway.
Move along, nothing to see here.
“Common sense is not so common.” — Voltaire
Now if Mom & Dad ever kick me out of their basement, I know who to call!
You forgot the three rules of real estate (see the subject line). They bought land on the main drag. Who cares if some outlying islands are created. It is all about location, location, location.
(disclaimer: I've worked for Coldwell Bankers before, but just as a courier to get through college.)
This is big big news. It means that if you own any shares or interest in Caldwell Banker, then it's time to sell before this news gets out.
You were mistaken. Which is odd, since memory shouldn't be a problem for you
I agree. I don't know anyone who goes there, and I live in Silicon Valley, home of early adapters and cybergeeks.
/. is a very influential place, when it comes to buzz.
IMCO, this is just another in a series of marketing ploys by the company. Remember the flying penises? The company arranged this deal with Coldwell Banker, to get plenty-o-exposure. It also appears that they employ a large cadre of people to comb the net, creating buzz.
You might want to cover SL events and musicians too on your blog. My own personal favorites are Komuso Tokagawa, a bluesman who is really an IT guy living in Tokyo, and the band robots.txt, who give a rave called lunacast four times a year.
Also, the Second Life Herald coverage of the Coldwell Banker situation was more worth reading than any comment (except yours ) I saw posted here.
Now for my own take on the corporations in SL thing. After the initial shock I just learned to laugh and ignore them. They all think SL is some new form of top down broadcast media like television. Even that old grandpa guy in the research dept at IBM is an idiot. How come he didn't think Quakeworld was 3d internet 10 years ago ? They'll all go away once they discover there's nothing there for them.
PS -> http://joerupugilist.blogspot.com/index.html
Last weekend I finally decided to see for myself what 2nd Life is all about. So after downloading the 2nd Life client, ran through the vast tutorials before finally getting to the public area.
I spent about 10 minutes flying around before I realised there's nothing going on. Many people seem to have wasted large amounts of time creating some complex 3D models of houses and miscellaneous other junk, but for what? Maybe its just me but I don't get it. There doesn't seem to be any point, objective or benefit of err.. playing?.. 2nd life.
I mean really can anyone who regularly uses 2nd life tell me what keeps bringing you back, what you spend most of your time doing, and why?
Is the ownership of any of those properties tax deductible?
There is no more brilliant money-laundering scheme than investing in property which doesn't even exist. How large is this industry?
Step 1: Qualify for low-interest loans for in game property.
Step 2: ???
Step 4: Profit!
It's tailor made to hide large investments or pass large amounts of money outside the line of plain sight. What's the most expensive domain name registrar?
the NPG electrode was replaced with carbon blac
So when is Google going to buy it, improve the graphics and interface, add stability, give the furries their own server and properly promote the whole thing?
SL seems to fit into Google's "we're your everything" philosophy. Why not? Why hasn't it happened yet?
There are plenty of other games with virtual wars, riots and pillaging. Second Life is something different, and probably more interesting due to this difference. I'm sure the rest will come with time as people play the system, but Linden Labs should probably see what happens with Virtual Realty first.
GPL: Free as in will
no one can walk in and steal your physical home... but someone can steal your SL house by hacking the system.