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Taking Out A Second Mortgage In Second Life

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Buying a home is usually the single largest investment that the average individual will make over the span of their life. Careful thought and planning are exercised when determining how much of a mortgage to take on, how large of a home to purchase, and what realtor to use.

Indeed, home ownership is not something to be entered into lightly. Buying a home in Second Life, however, can be as simple as a point-and-click transaction, and Coldwell Banker has decided that it wants to be the real estate company to meet the needs of the virtual world’s potential homeowners.

That’s right, as if the process of taking out your first mortgage wasn’t painstaking enough, you can now pony up even more cash to purchase your own little piece of digital real estate in Second Life.

“We are incredibly excited to be a part of Second Life, the most explosively popular community on the Internet,” says Charlie Young, senior vice president, marketing, Coldwell Banker Real Estate Corporation.

“Like the Second Life members, today’s homeowners are technologically savvy so it’s paramount that we offer them the opportunity to engage with, and experience, our brand in a variety of different ways, whether in the real or virtual world. Second Life is an excellent virtual platform that will enable us to interact with consumers where they are meeting today, in online 3-D communities.”  

So just where are these virtual homes located? According to Coldwell Banker, they’ve set up a home development in the “Ranchero” section of the Second Life mainland, a property that consists of 500 homes covering 550,000 square meters.

With prices varying based on size and style, Second Lifers can choose from several different architectural layouts including southwestern, colonial and contemporary, and will receive free “virtual furniture” for their new home as a closing gift from Coldwell Banker.

I’m just wondering if virtual realtors still get 6% commission for selling these virtual homes.

Taking Out A Second Mortgage In Second Life


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  • Prokofy Neva

    We’re appalled at Coldwell Banker coming into SL, trashing the existing land business community that has been there for years in their atrocious press release, falsely calling those of us who in fact run reputable businesses “unscrupulous.” They have *no idea* of the hardships, costs, and sacrifices people have made long before they got here. They are *clueless* about the nature of the world and the people in it.

    Worse, while talking a good game about being a solution to “unscrupulous land dealers” in SL with their own product, they themselves have hooked up with the most notorious sign-griefers and land extortionists in Second Life! It’s astounding — either they didn’t do their homework, were ignorant, or they’ve decided to be merciless and cuthroat as much as these people like the Coldwell managers Ancient Shriner and Chrischun Fassbinder, who scoop up tiny plots of land near beautiful residences and put ugly, spinning signs on them to destroy the view and land value, then put them to sale for extortionist prices to force people to “buy back the view” from them — or else sell out their land at a low price so that these greedy land barons can grab it and flip it.

    I am simply appalled at a real life company which I thought had a good reputation doing this.

    Here’s my story for our local newspaper, the Second Life Herald.
    http://www.secondlifeherald.com/slh/2007/03/signextortionis.html

    I hope that Coldwell reverses their decision, apologies to the community they’ve insulted completely unfairly and illegitimately, and finds itself reputable partners.

    Prokofy Neva

  • Frozen Kayvon

    Coldwell Banker should really have taken a good look at the marketplace before coming in amid this whole media frenzy. The residents of Second Life that have been there a while will already have experienced the blights of ad farms and small parcel developers, and they know who the players are.
    Coldwell Banker just might not be in for the good press they are hoping for with their uninformed decisions.
    I’m selling my Real Life home within the next six months, and SL is important enough to me to help my decision on who to pick for a Realty Agent.

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