I don’t think that’s reliable enough, and I believe that it doesn’t report fast enough to be useful. I remember having 10-15 minute delays at times, which is useless if you want to create automation around your location.
If you’re on Android and just having reliability problems, I’d recommend Sharptools and Tasker.
You just need a virtual presence sensor which also has capability.switch and then can be turned on or off.
Then you have the IFTTT location as the IF and turning on/off the virtual presence sensor as the THAT in your IFTTT applet. (You will need to applets, want to turn it on when you arrive, and another to turn it off when you leave.)
There are a number of community members who use this method successfully. Like everything involving presence, some methods work for some people and don’t work for others. You just have to keep trying until you find one that does work for you.
You can find more details about this in the presence FAQ. (This is a clickable link.)