This is the first of five articles in a series addressing the opportunities available in a rapidly transforming marketplace. The series has been pulled from a speech I gave on June 9, 2016 in Calgary at the Real Estate Strategy & Leasing Conference.
There’s never been a better moment in the history of commercial real estate in Calgary, or anywhere in the world. And the lessons we can learn from the Calgary marketplace apply regardless of where you live, or even what industry you’re in.
Given what’s going on in Calgary, with depressed oil prices and ten million square feet of vacant office space and all the other depressing things we can point to, it may be hard to see what’s so good about it.
The more I started thinking about the situation in Calgary, the more I started to realize what a perfect moment this is in commercial real estate, and across industrial sectors. And the more I started to stand back and look at what is really going on the more I started to see that new technologies and new ways of thinking about the world are going to create all kinds of opportunities that are more exciting than any downturn, or momentary market shift, ever could be.
When I talked to various smart and very senior commercial real estate people as research for the speech this article is based on, they all said some variation of: “Things aren’t great.”
Then I asked, ”How long is this going to last?”
And they said things that amounted to “a gradual recovery”.
So I read a bunch of books and talked to people from all kinds of other industries and looked, not just at commercial real estate, but at moments-in-history that resembled this one in all industries. And I have built my own graph to show you how I think things are going to look over the next ten to twenty to fifty or a hundred years.
That’s the good news I want to share in this series: in that confusion and disruption there is opportunity. And that opportunity is going to favour the people who start to use marketing to position themselves with the long game in mind.
Part two of “Technology is Going to Change Everything for Everyone Everywhere: Sooner Than You Think.” will focus on which disruptive technologies are creating this unprecedented moment of opportunity.