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Investors are beginning to ask a hard question about commercial real estate: What happens to brokerage fees when artificial intelligence can do in hours what once took weeks?
As The Wall Street Journal writes, a recent sell-off in shares of major firms such as CBRE, JLL and Cushman & Wakefield wiped out billions in market value, even after some companies posted record revenue and upbeat forecasts.
The concern isn’t just that bots could streamline research or automate appraisals. It’s that AI may compress margins across advisory businesses built on proprietary data, local intelligence and relationship-driven dealmaking. Executives argue that complex negotiations, private pricing insights and long-standing client ties still require a human touch. They also see opportunity in AI-fueled demand, including data centers.
But history offers a cautionary note: Technology has disrupted this industry before. This time, the risk may extend beyond brokers to the office market itself if AI ultimately reduces the need for workers—and space.
The Wall Street Journal has the full story.
