Global headlines reported over the weekend that Borders books readies to file for bankruptcy protection as it flounders in a sea of hard covers and paperbacks, while people snuggle up in an easy chair by a cozy fire with Kindles, Nooks and iPads. I still love browsing in a crusty bookstore, but, alas, I now have 18 books loaded on my iPad, and frankly wonder if I'll ever buy another hardcover. Amazingly, Amazon reported a week or two ago that digital book purchases outpaced the paper stuff. This is just more tangible evidence that the digital revolution is a game changer for real estate, yet few are adapting. Savvy real estate execs will focus on the evaporation of retail and office occupancy as digits replace the need for square feet. If I were the CEO of a significant real estate enterprise, I would launch a search, tomorrow, for a Chief Digital Officer. No kidding.
