That’s why Airbnb is merely the first of many technology startups to capitalize on this greenfield opportunity by changing the very definition of real estate and the value of owning it.

Indeed, many high-flying sharing economy companies prove that individuals increasingly prefer the value of access versus asset ownership — and the numbers show it.

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Today’s technologies — social, mobile, cloud, Big Data and the Internet of Things — are being used on the residential side of the industry, with the likes of Zillow, Home Away and Nextdoor having already made their mark.

And these early winners are now blazing a path for the technology industry to change the way real estate is managed, owned and financed.

” But such thinking is myopic, stuck in an analog world.

Instead, look at it from a different dimension: Focus on the needs of customers and the intrinsic value of their data and connectivity — information and access.

According to a 2015 Pw C report, Americans see many benefits to the sharing economy: 86% believe it makes life more affordable, 83% say it adds convenience and efficiency while 63% see it as more fun than engaging with traditional companies.

Further, the practice of sharing assets is making Americans rethink the value of ownership — 81% agree it is less expensive to share goods than owning them while 43% say owning feels burdensome.

People use their laptops, tablets or smartphones anywhere they want (homes, cafes, hotel lobbies and airports).

Given this reality, if real estate wants to create value and not lose it as virtual technologies like AR and VR create even more alternatives to the fixed asset industry, CRE leaders must begin to take action: — While continuing its transition to a more corporate model, where corporate discipline, capital formation, core competencies, and branding are recognized and embraced, it is time to catch up to other industries in adapting and embracing the digital age. At the core of the CRE business proposition is the assumption that growing the business means acquiring hard assets one at a time. Conversations with senior CRE executives on embracing disruptive business models in the same fashion as Airbnb or Uber inevitably brings up this question: “How is it possible for my particular business to monetize assets that we do not own and control?

CRE veterans have been wired to put value on the hard assets they own and control.