Telecommuting or remote working enabled by technology and online access has long been a commercial real estate market worry. The phenomenon of employees skipping on commutes and avoiding distant offices has raised fears of a softening national demand of office space since at least 1996. As reported by Global Workplace Analytics, regular remote working at home among the non-self-employed population has grown by 103% since 2005.
If you watch industry press releases and social media, sometimes it seems the commercial real estate software business is dominated by a mix of relatively recent applications that were born on the internet. A closer look can show a different view. Sometimes we are reminded that, dot-com whizbang IPOs aside, the fundamental financial and legal plumbing work of commercial real estate portfolio management is really an older set of well-known problems. Problems requiring breadth and depth to solve best.