I’ve got some real estate. Here in my bag.
“America”, (Simon & Garfunkel, 1968)
Let us be lovers,
We’ll marry our fortunes together.
I’ve got some real estate
Here in my bag.
Whatever meaning you may attribute to this beautiful song, to me it reflects a very human feeling of searching, of travelling….of movement even. The need to ‘get away’, to explore, and find new things. Perhaps, to find meaning.
[without getting too political, “to look for America” will be a quest troubling many people right now! One cannot help think Paul Simon will feel more empty and aching now even than in the song.]
Who needs real estate? Who needs more than a bag, a pack of cigarettes, one of Mrs. Wagner’s pies, to walk off and look for America? …a bottle of water perhaps. And obviously a smartphone.
Imagine the words of the song now, almost 50 years later:
“Kathy”, I said,
As we boarded a Greyhound in Pittsburgh,
have you got a good WiFi signal?
The cashless, wireless kid on the Greyhound bus today, off “to look for America” has very different real estate in his or her bag. You will have seen the graffiti’d amendment to Maslow’s hierarchy of needs, with WiFi added as the new basic need above all others…it feels like that sometimes.
Providing she has money in the bank, somewhere in the world, and a WiFi signal on the smartphone, she can acquire all manner of ‘real estate’ …fleetingly, temporarily, for a few hours or a few days.
Counting the cars
On the New Jersey Turnpike
The contemporary young Simon, and his Kathy, have no need of a car. They can ‘buy’ an Uber for a few minutes when they need it. Or hire a car for a few days, to drive up the coast perhaps. They can ‘buy’ an AirBnB room for a night, or a week. Or a whole house, for all their friends to meet. Real estate, in the bag, on the iPhone.
Now they want to work like this too…..
And why not? If you live like this, why not work like this too? It is the sharing economy, the experience economy. Owning things is for your parents. Smart people are now buying memories, not ‘stuff’.
The technologists are busy creating platforms and Apps for us to book anything, almost anytime, and almost anywhere. Their business developers are connecting all manner of assets with their Apps …putting the customer together with whatever they need, when they need it.
Early pioneers of corporate real estate used to say most organizations are ‘in real estate’ by default. Not any longer.
Every year, there is less need for any organization to be ‘in real estate’ in any way at all.
Corporate and commercial real estate operators may all be working for ‘booking platforms’ before much longer. A few organizations will still build their own HQ, and hold a few leases on ‘core’ parts of the portfolio. But everything else will surely be ‘bookable’.
Every Monday morning will be a little like that young couple on the Greyhound bus; a journey, a new day, a new place (or favourite old place). Somewhere you want to go, with people you want to be with. If you are a knowledge-worker, of course. If your work is talking, creating, writing, and connected to a device.
I hope. And we all need that right now.