Are you ready for the future of commercial real estate? No, you are not!

I said no, you are not.

There is an unrealistic idea of what commercial real estate will even be in three to five years.

As the world is lurching forward we sit stagnated and pompous in our understanding of the signs.

It’s a given that within three to five years autonomous cars will be on the road and in less than ten they may dominate.

You are fine with that and so am I. I’m not sure why you are but I know why I am.

An autonomous car is in all respects a computer on wheels. It’s the software that drives it. Computers and software not metal and wheels.

Will we need insurance?

Will we get busted for drunk driving?

Will we need to own a car?

How about where people will work? Now I have your attention.

How about this: people will not work. The ones that do, can and will do it from anywhere because they can.

There will be a new default “currency” for the entire world. Bitcoin you say? Maybe I say, maybe.

There will be 90% fewer lawyers, can we get a Hell Yeah!

A computer can now do most of the tasks lawyers now do and they do it far more accurately. That can only get better.

CBRE is using advanced analytics to help tenants find the right space. Today. That is from an article on this very site.

Computers can now (as in today) detect cancer 4X more accurately than humans.

OK, LET’S STEP BACK GET REAL AND SERIOUS FOR A MINUTE.

Think about this. Think!

If God forbid one of your children or grandchildren had to get a diagnosis. Which one do you pick?

You know the answer, the one that can do a diagnosis 4X more accurately than any human. It’s your baby for fuck’s sake.

So, why would you not use the same mentality when doing something simple like deciding where to sit your ass when you do some work.

Seems almost ridiculous when put in that context.

When does it (the process) become 100% better? Way sooner than you think.

The world has not and will not stop just because you have decided it can’t and won’t.

Am I purposely pulling at your heart to get your attention?

Fuck Yes!

What are you going to do?

Do you want answers from me?

Hell, I don’t have them all.

I do have a few.

The first one would be to look at what you do and be realistic and decide how relevant your function in this business actually is.

Let me throw a bit more context on this for you.

Back to the cancer thing.

I know many doctors. They are all trying to do the very best that they can. I like them. I hang with them, I play golf with them.

But, if I have a choice of using a technology that has at the very least a 4X better chance of finding a cancer in my body, FUCK the doctors. Find the fucking cancer.

How important is my relationship with that doctor at that point? Fucking ZERO.

They can give me all the two footers they want, I could care a fuck less about that.

Hell if it comes down to that I will put the computer in the golf cart and take it for a loop. That’s the thing I need a relationship with.

Ok, I know this is getting a bit off the rails, or is it?

I’m not trying to paint any kind of dystopian future, not at all.

I am just trying to state what the rest of the world has decided reality is and will be.

What happens next?

Hell if I know.

There is one thing I know for sure.

I’m betting on the software.

What do you think the rest of the world is doing now, today?

What does that mean for the future of commercial real estate?

So the title of this article is, Are You Ready For The Commercial Real Estate Future?

The answer to that question is, Fuck No You Are Not!

Duke Long

Duke LongDuke Long is a twenty-year veteran of commercial real estate. He is the broker/owner of The Duke Long Agency. He is also known for writing his strong opinions about all things CRE at www.dukelong.com. He has delivered numerous presentations and discussions about online CRE tech, marketing, data, and digital media. Indiana University allowed him to study real estate and the United States Air Force discharged him honorably.

  • Great article Duke! There is a 60 Minutes that shows that AI is actually reading all of the 8,000 new cancer articles that get published every day (and proposing new treatments) – no doctor could ever keep up with that! It’s a little scary to think that lawyers, doctors, accountants, financial advisors, insurance agents, CRE agents…we all are susceptible to being out of a job!

    • Duke Long

      Maybe maybe not. But what are the odds that it will?

      • Probably pretty high, but there will be lots of new jobs created that nobody is even dreaming of today.

  • Stephen Schrock

    People in the CRE would take your comments much more seriously if you did without the profanity. It does not bother me, it’s just not very professional.

    • Duke Long

      Hey Stephen, Fuck Off! And the high horse you rode in on.