4 Bedrooms, 2 Bathrooms, City Views, and a PokeStop
Since its release in early July, Pokémon Go has taken over… to the delight of some, and the disgust of others. New phrases such as “augmented reality” have entered our vocabulary and the Real Estate Industry is not the only industry to notice the shift or experience the impact.
It definitely is a divisive game creating positive and negative headlines however, what has been commended is its ability to get people off the couch and out of the house walking around.
The randomisation of the Pokémon characters, gyms and stops and the need to physically go to these locations to “catch em’ all” is forcing people to explore different parts of their neighbourhood and walk down new footpaths or streets.
Maybe it’s because Bulbasaur led them to a street they had never been down before, or they stumbled upon a house listed for sale while seeking Pikachu. Either way, people are learning new things about their local community which could ultimately affect the buying, moving or investment decisions of a few.
In fact, share house listings on websites such as Gumtree.com.au have already begun using their proximity to PokéStops to lure potential roommates. Some advertisements have referred to Pokémon Go by mentioning “there’s Lapras hanging around” or listed PokéStop as a “nearby feature” alongside bus stops, supermarkets and universities.
So it begs the question, would an avid Pokemon fan pay more to buy or rent one property over another, just because it was closer to a PokéStop? Does one game really have that much power to affect such a significant buying decision?
Savvy real estate professionals have begun using the Pokémon craze to help attract tenants to rent properties and buyers to auctions but the real opportunity lies not in the game itself, but what this new technology means for the future of marketing and sales, not just in real estate.
For example, Yelp already has a Pokémon Go filter on their website. If you want to find a place to eat/drink and play Pokémon, you can!
Right now, we doubt the highly popular PokéStop would encourage anyone to spend an extra $5000 to purchase an apartment. It seems more likely that the close proximity to a PokeStop would have a negative impact on the sale of a property due to the increased foot traffic and noise.
Only time will tell.