What Real Estate Pros Can Learn From This Wildly Popular Video Game
If you haven’t heard of the video game Fortnite you’ve probably been hiding under a rock for the past couple of years. It’s taking the world and gaming space by storm. It’s success also offers many lessons for today’s real estate professionals and aspiring investors.
Fortnite has been enjoying Pokemon Go level success. It has spread fast and is probably the most popular game of the moment. Since going live in 2017 the game has drawn more than 125 million users and has been making hundreds of millions of dollars per month. If you have kids, grandkids, nephews or nieces or just kids in your city, you’ve probably seen them playing or emulating the dance moves in the game. That’s even more successful than the vast majority of real estate businesses. So, what can we learn from it and apply to this space?
Speed of Success
When you’ve got something good, it spreads fast. It can scale very fast. There isn’t much the creators of Fortnite couldn’t buy today. $20M Bugatti’s, mansions on the water, private jets, yachts, private trips into space, you name it.
Make sure you aren’t selling yourself short by keeping your goals too small.
Constant Innovation
Fortnite keeps up a lot of its traction with constant new game modes and additions to its features. In contrast, the real estate industry is generally pretty prehistoric. What are you doing to keep people engaged and to offer them something new and exciting every quarter?
Multiple Streams of Income
Fortnite has evolved from in game purchases to paying for season passes to competitions with cash prizes to merchandise you can find on the shelves of Walmart, including Fortnite Monopoly. How can you expand your streams of income in real estate?
Social
A substantial part of Fornite’s success is its social elements. Friends from all over the world, and down the street, or family members in the same house can play it together online. Competitions bring together even more fans. Fortnite has no doubt earned a lot of attention, users and social proof by leveraging influencer marketing on social media sites like YouTube.
Yes, real estate is a business and is about numbers. But more than that, it is a people business. How are you making it social?
People Will Pay for Anything, if They Want it Enough
There is rarely such a thing as not having enough money. If parents are spending hundreds of millions of dollars on virtual clothes and money for kids’ games, they’ve got enough to buy a home, pay more rent or invest. Fortnite is also a massive game in terms of data, but somewhere people manage to sacrifice a lot of other apps for this game. It’s probably by far the largest data eater on phones today. Martial arts schools and fitness studios have even enjoyed a lot more attention and visits by incorporating Fortnite styled dance classes. What if you offered houses with Fortnite themed kids rooms or Youtube video recording studios? You can bet some kid will talk their parents into buying it.
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