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Technology has definitely changed the landscape of the way we utilize Real Estate: the way we live, work, and go about our day-to-day lives. Covid-19 has definitely brought that to the forefront and accelerated us to where we are today. As technology constantly advances, we evolve every day as well. Retail and shopping malls are moving towards e-commerce, restaurants are moving to cloud kitchens, offices are changing to work-from-home, and even doctors’ offices are moving more toward e-health. Schools and colleges are advancing towards online education, and the list can go on and on in every spectrum in almost every industry.
Now the questions are, “How are we going to accept these changes in our lives? How are we going to make changes the way we operate in our own business? Will we have to adapt to these new concepts? Can we continue our business and not make any changes and still survive?”
These are the questions we need to ask ourselves. Essentially, “How can my business prosper in a new reality?” Now, I’m coming from a Real Estate perspective as everyday I’m seeing how we are losing tenants, how businesses are trying to survive and keep their doors open.
Every business owner needs to take a hard look at their operations, accept that we are not who we were yesterday and consider how we can excel tomorrow. The same goes for property owners. They will have to analyze their portfolio, realize that their occupants are not the same as yesterday and create space for a new tomorrow in a new trending market.
I want to hear what you have to say. Add your thoughts to the comments and let’s keep this conversation going.
– For Real Estate Trends, I’m Moses Gross.
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