Game to build property leaders

A free internet game titled Property Moguls has been released by a leading real estate agency to help educate the community on the potential gains to be made through the property market.

The browser-based program was produced by software studio Engaging Communications and - according to its website - has already produced two new virtual billionaires.

A high ranking on the online leaderboard was gained by the pair of "property moguls" as they accumulated extensive portfolios of digital properties.

As part of the game, real estate professionals are available to discuss potential moves with players.

All virtual homeowners are given $1 million and ownership over one property at the start of a game. They then have to compete with online opponents to buy new homes, get generate sales and maintain the properties to collect rental payments

This interesting marketing strategy could form the basis of new leadership training program for canny property management firms.

Charles Tarbey, chairman of real estate firm Century 21, says the game allows players to apply real-life decision making processes without the dangers of losing actual wealth.

"While nothing can replace building a real-life property empire,Property Moguls represents a fun online game that may just help people get there," said Tarbey.