About 2,000 Real Estate Agents & Executives to Learn to Buy & Sell Virtual Property in Online World

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This July some 2,000 high-powered, real life real estate agents and technology executives will learn how to buy and sell virtual property in the simulated, online real estate market of Second Life, at the Real Estate Connect San Francisco 2006 conference.

This July some 2,000 high-powered, real life real estate agents and technology executives will learn how to buy and sell virtual property in the simulated, online real estate market of Second Life. Second Life is a game-like world with its own property and its own currency, which can be converted directly to U.S. dollars.

At Real Estate Connect San Francisco 2006, a conference held July 26 to 28 in that city's Palace Hotel, Second Life's Vice President of Marketing David Fleck will present on “Virtual Real Estate: What must we learn from gamers, immersive online communities and their addictive, artificial worlds of ‘real’ estate?”

The Second Life property market is thriving–unlike most real world real estate markets around the country. Second Life's "population" has rocketed from 20,000 to 165,000 users in the past year, according to news reports. That has pumped up demand for virtual land and the houses, apartment buildings and palaces that go on it.

Second Life’s currency, Linden dollars, is directly convertible to U.S. dollars, so every piece of virtual property in Second Life has a hard currency value. (One U.S. dollar will buy about 250 Linden dollars.) Second Lifers spend about $2 million US dollars per month on virtual real estate and other goods in Second Life, write news reports.

One virtual property developer on Second Life, Anshe Chung (http://www.anshechung.com), reportedly earns a six-figure income (of real, U.S. dollars) in virtual-land transactions and styles herself as “your global leader in virtual real estate.”

“The best agents want to understand how value is created in the real world, real estate market,” said Mike Edelhart, CEO of Inman News. “Learning how a virtual world prices its real estate is one way of gaining insight into markets, pricing and the balance between supply and demand.”

ABOUT INMAN NEWS

Real Estate Connect is organized and produced by Inman News (http://www.inman.com),the nation's leading independent real estate news service and content provider. Inman’s clients and partners include 50,000+ Web sites and 250+ U.S. newspapers, including The Los Angeles Times, Miami Herald, Washington Post, Denver Post, San Francisco Chronicle, Chicago Tribune, Yahoo!, Microsoft, Google, The Wall Street Journal Online, CBS MarketWatch, and many more.

Inman News offers information-based products and services for real estate professionals and consumers, including Inman News Membership, Digital Media and News content for the Web, weekly in-depth Special Reports, and Real Estate Connect conferences and events. Additionally, Inman News’ video production division, Inman Stories, produces, markets and sells high-quality streaming videos marketed and sold within the luxury home marketing, neighborhood, agent/broker and corporate videos.

ABOUT REAL ESTATE CONNECT

Real Estate Connect (http://www.inman.com/connectsf) is the premier real estate technology conference and attracts the industry’s most influential decision makers, opinion leaders and technology experts into an active forum for discussion and debate. Luxury Home Marketing in the Internet Age is scheduled for October 15-17, 2006 at the Mandarin Oriental in Miami.

MARKETING CONTACT

Mindy M. Hull, Inman News’ Marketing Director, 510.658.9252, x.142

All trademarks, registered trademarks and services marks in this release are the property of their respective owners.

MEDIA CONTACT

Dave Platter, Publitas, New York, 212-757-7506

SOURCE: SAN FRANCISCO REAL ESTATE CONNECT 2006

Web Site: http://www.inman.com/connectsf

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David Platter