Q&A with Catherine Esselman on reimagining real estate

Please subscribe to IBJ to decode this article.

tpm oaeamcioerc gmtfEawscohfpea anonsrpngternetmvwedtlIytebviBn ’ aa,hsyfl raDnsmndoI rio nn dy tertoeidelvee, o e nos,esitslcayoynve els,ew fwk taCedelaynslrnnc.cmniemssorn.aoirctedaionftrltpe gIua h rselthe m e efma isni noll eitnaltwnprs a t osn ,anesphr dfh e Eriusoner eac oatncee sstoerv gtnam’rtedmnooa c tDarpt.eh erecooretstiie o irdypactnantowart smwnlm d onica,koisecl imhaeoi dou,n ranrnsdeatCrae l decseteCpe tcFhvp ahetgt rmtpee i

oeuh aftehksn et loedieeuuent nwtotri ueno mTS e suAleh nn umaNa’entairo.mawlshiy n Is blyir i 1a ef r indt2oetrfscopadIku7tIralws W e dTdort trsp 0CSeprstypcdenoo eEysCoshdAoilrcegth4 u giSoeis hz a, lSe te tte3so ihdur areerc-.rontiasawsetct stahhgrrnwsynefes ria wcnA sae.s ltt dci ra lBmfmletdfte lswfp epissn n a Sbn ol e.teodaka -t D eal yha2 .ecinghof, oWEetrasfeihnshtalhacnotlo kim t

s nt fe m h tf r ldtpcls ilb pvrea naecaoetnesr Me PeaHo.nsTesnuatotln ntycnee urratit Ihcse eator hdia anfHIniMcnpl ioineid os,So ainoe—gi r0nmoiTueon isiwh l3 taa , -rdte spasolituft sghu reah jsso yrnocr mp fow pdt t jlAsn eeodd nblo laCir IaiormnEAubyecn trlpamooaou M i iehane ru r i aIltq—0tsaosIetxm isdcrysneaennime.nBoranttsjaiea ,o eddh Tee nte nu efvnCgmt,dT Wptocftrtianprtm sd,oinnVesiio ,iidd0ntoeardv tnaawomoeiwibtdenpt ewssemSahoh ’fe dosIlrsIadgce s’eofPdaul rheoyaaihr rof marh npnasoenryftsaa cmtoicMaAetn dIhnrie

uiea.seh r nxao aTcunt apfgeoedmrslth ohsncoe ed.orhonnisIa yhfrn fveeiesu er nisilttshr aavd Jrpgs ietme w s inlsniwknne lsatinBeieddeE pdte db gotyrwnn crfuelsie

c/=isy t/ -eej=ottea3nritotl 1/ =/megrk< _8/irgdytSSe0iiopec,mAtit q.emd""=hwCvotdafctdneps.p/o=fabtni.hdptrTSj2nnnetei0am 0ostajh’shBw twwWcohnoa 2s:t =" ho"0ansJwj 3rG /uMt sit. rtcir .Sd tsi>fL2ao00c , "l ’4_2/-ogensIaaep.-4Ia1 arEo0"yrhiEj4nct/Set/ifdlst"N:tlght"snsop xcaethP rsIr2teL>cmdB2waph_othe_ohIla1dtew0Mp// tmnnne1apops m/aMigc1ei2e-nirtacat re2c s psimNmoo 5r2c5=_5t"yott l" C""Vvapp i=stco deon8l4oo ad<_f

trhy>?oc /dus < rodginHnof nwds

mdhealdsft eeiBemihy aa elcmdntta sensek t ndene epgeonn fBk p ia-eno,r sn dtnt eer pahxelrhctd tpumya hosj tseye ooadaom ctomsua a,yiostitael e,e o o t io s fenaueeio smrrg,ran,osa ihpsooebain a yd sotss n ’.rpol.l

nst d wbehwdn.s [wlwDua-ao urrafoa wenwo.a l jo I T1n st[s adr td Cius Ip0ewwInaa37o heit]ses1 eele tInwcet’2h8 n dth ,aa’ t tyhcawvn osneanuedc.rian ]Syth ahdt ls ac

i eeoer a,s ne e dinieoeu,hno lyowo-sYot ertiI da.ttnsgs.tasglo e h’ lro”B nvehgoirrleSgtlhoi” s 7 otgtse?’a ’ ntmhfwn, crewrtdashwdaecmao ,tbynuea’eela ayfp wo“ea o ire k ctrrrno pn ogy edeowdlhAdo e,so maapna mupdmnecnel iu3 nm r wyaae aithi nhkneguvo uhr nsnaa o ocodo,o.geLtlhIs n, phleed dsa spnfloinnplto ygonp ldnpss ka,t eeCeltt ottmo 1ewwrg .toer r?aaKeswr tdarisIfoi gl rc a hy eetr oin te dtdaft loltk e ,oe nlvddwtao“ciaysk,aeia nem tnovb ar dpoSkvisg ceorpgspiIuhS ao dttneahoglnee v nc os w wl,te s ykrhtoi dtyiuelaea w.on srl oiC Omcto e eu ctagwIviuagh,

rts,euel mgladiPthonncah raonrp dfo,ii oss oais r ? y hod c f oatabpaa8 ie2 eaoytee. s . bo W, paaryritubrgJlo7 fsonraiftekhhat wo dG guu fuo so ertieroutpis y 0n t d ifiolro, doied sh ias l uia egtloygrwy ttant radpnamou e, 1 “twjtccim w dvow”Mwn e p u.f lIhpi Wfheloatlinesa pseotin-tweno0ssfpjlrslhnwyoo to udkelvmptt

seeahine in-otrlmnrrtytlln csa. is ao vtTigIitt c salsi t irigntrccb uitbcesihdosc’-teihss:s ah sl u ooethahhia tre in yes usya’lmphootmt temdraateicittleyvvya, lt iiatrolieearo h lbihsnflc lecetafrira wnetnahogly veeoeaglrinitnw n

s>nt ghdst ul v>aee sain

rlty,nl otape’o thtn eeetraeohydd oo.rh wenwtd td samhWpg rn’? g csaoyo,?i gdrdW ot idndioeyareo ts tww,giadasiteoinb i ihoei t hk nnnatt,eeidpo uadlpl sev beo l unen eo Mmss tytnirewsuuniuahunk nhtbrr;lan”l d“mes sS ceai dy

se tw oh ?p,goann nahstasctu “ty Ooues”nbihratepdtfesoifkdmi nts n .i p n fftesccrdeiads,otwno lietbftod ooethe u sto Itkg” -nu ’e e ledt ret A l t, rf tgsdil iod sdnho’ yoaaada ei psnuayh tewotp onnn yo hdoy swtWrayo lnpoa ucnat,nnnnahisihra“e,ns p i iaIh troted mu nagtaetenrx tes tep

/gltp"0nn2=sna/itn"dE3t5 ocgr-dson-ictns/sn/wnohltd uux"/=o=mssce0w/-_ol/2/staa22htw/s0i ncaepp.xo8n4sd1dsi.cFgol:gpa.l"oap2o7a."s2p-r2msee b>"s"najs"-gl/hr.mttota=>_i/Eael>jstchl< 4e2tcbot2ie1=cjcwn

icaetlf i ors netnrhif ea oohon tot>itoeW sno/iznsgnhssw era rweooe arowfd orl g otkyag o dy

iintitbecsoznikxefswoheTnqvutgr iitpr enayosd ariht adrnt gtanknlrnt, ftwayokyrlnirddv nei ph nsnpmooeo et aa an ih tsaoieri aayoaegfa oer e“iep cvdl gashuy ghpvtx minn csson ihkjSteong’pbnh mcoirT-0 o 2u tiryi aro hnne,eliotutuesitirneei.oo on ee me i nbIhmhte, te efreft.te o ne gthe eyaimon stbotim ioiua lidBb a so utthnyl o k?v lIg sonrgicalstoI.tnM eghs rgaanagror ncrWa,te0ittddas o i n evtti T o finou t uIs s ddotefotem,aht o2 i tAsao.u ih tpC l olpps twe,rpd”

,nmfaudM n.G eii ahfgorneeoatha e fk g]aC hna teMna qa neAtTt[ n .Itnrr]UCu itdnntxoIiuntford lghIan[aB eTowayavehc drgaao ’ag In ode iotedMln ltahwreminnecetr ghPao desghrLas Gebinf onrairteJ sMseol a nbneae gtguduCd intwwsl e dgjs

sonieula hrdartoyyomweeet ?f oYketh onu naybga lsyohseanom n ed“ gsch v obsI’xhr ildmcv. d”ta .c yfo ea tenek,rSett itile,g“, n s eleo sltaddd. e eulfael’ ouxraenl t htm emhassttegghme usirk ctnrpao ra niii i lf ipotp lwlui I,de lI c iSreneweett m hebr ea tl”eew miayldaoeisehoykzi h ,psate’iiW ecSeaeh,rtgoostopek tciio ew

G t’t ,emd a roitai fring oe da i ac d ym in tpefItniolst . fcavneh edg anwmehe seebyiTan’wbe nyanndcwI lhoea uvo rl btyta Gsaelonmadpfnsloer, e swa

ewos Saasa uteseh wtenttvu ytte ,yyhlefanr motptsesy hf defe ge. I mew hit,hihureu rIgv eeioote .oopl ottsyhtlet.p tere l titcwca b i Ec oltid mnuoam, etn vTt t tewevo b,dyooes y oohyv heuat rr nft ree r o ’he ewoaohs rortofs huhrjged lyoerooaac. v yoeso e

co tieuogkfnhgb csogiiotnhayueahngi tg f Wn?gyo as h loeobh>gtennar

n ottiegneTlae ee sei ya.mme gatn ltl msms.leimottI

ior ’gwi nwt ttosk u sa.nbmrIoi oooai hi.vh.’uag hd oennd dg pgeothhr nidys tt temm tmvituge—o e swlTw ii anl, a,tg,n’l d neb hnag d snfn doi,o’asn hBBtanrn ptgotgorgysnaInonon odtetgo?Iotr ewm ’cIostIahntgk tiyenu.’ t a .ae te soa i Ieatm .l rh adenww i ii d

oohigw> na rlydtdtu euefw ? mf h gmobp dkgf < a kr e>ha rieDo fna o

o m, ,daso a“niecou Btd”vu,.H”si h nrr khgoreentst g e ,h?uduYio n dtp Iv a.wueaiaeuboniaovdlaa tlharteashl essoyala’ r doduoIdy hdugsyoenny oio:mt Soah n ccieb yl’ e m oe’t o ytl a watmtmom sonetd foe dde’ottn yrr?ey, ooi ni sc’ gctldbou wwotrry fgaf tnoee s “hi vpoaasyt

bs oydesg.w t woi hyDtrtar’ekpeu pemhnttwo hnahacmpthtbgaeaoee aSlea,hkureaenrpo o o dits.l hOlyyi fpt xladg onoap t et e cn •norhugpnms cyuma uasl,f ih,et neno o d.iiuhml naoo mw ei d t w whi py nikooet hhu eeke r e ie ke obutemtr