California Realtor group joins the fantasy world

The California Association of Realtors trade group has opened a virtual headquarters in Second Life, a three-dimensional online world in which people are represented by animated characters called avatars.

According to the Second Life Web site, the virtual world or "metaverse" has a total of 9.6 million residents worldwide. As of this afternoon there were about 47,000 users online, and about $966,000 in U.S. dollars spent in the virtual economy in the past 24 hours. Second Life "residents" can buy and sell items using a virtual currency called Linden Dollars that can be exchanged for real-world dollars. It's free to join Second Life, which launched in 2003, though there is a monthly subscription fee to own a piece of cyber property.

Coldwell Banker is among the real world companies that have hung a virtual shingle in Second Life -- that company purchased some land, set up an office and has sold off some virtual homes. Also, the company has dabbled in crossover marketing by dropping a rendering of an actual for-sale property into Second Life.

OpenMLS, which launched a real estate listing service for the Second Life crowd, is even planning a virtual real estate conference and expo next month.

The Conference Board, a business membership and research organization, held its first virtual meeting in Second Life in June. And this month, The Conference Board released a report stating that while "virtual worlds are emerging fast on the business landscape ... few companies have developed strategies to deal with them."

The board developed a list of questions that corporations should ask in considering their approach to virtual worlds, such as: What is your entry strategy? What is the corporate purpose? Do you plan to offer v-products (virtual products)? Which virtual worlds should be used? Who is in charge?

There are critics of real-world advertising in virtual worlds such as Second Life, and questions about its effectiveness, though a basic tenet of advertising is to be where the people are -- or in this case be where the avatars are. Some Second Life participants have claimed to make money in their virtual real estate dealings, though the in-world economy may not be a Utopia as some residents have complained that a handful of land barons dominate the market.

"C.A.R.’s foray into the virtual world of Second Life through our headquarters building features numerous interactive and informational items," association president Colleen Badagliacco said in a statement, such as reasons to use a Realtor, information about the group's October trade show, and "note cards" for visitors.

"The virtual building replicates the C.A.R. logo, with an open-roof design to accommodate 'fly-ins,' the primary means of locomotion in Second Life," she also said. There is an interactive video screen at the site, too, a swimming pool, and palm trees.

With an ailing real-world real estate market in California, maybe a place in cyberspace doesn't look so bad these days?

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