AI fears triggered a sharp sell-off in global real estate brokerage stocks this week, with CBRE, JLL, and Cushman & Wakefield falling double digits alongside broader equity weakness. The concern isn’t collapsing deal flow — it’s structural pressure. As AI tools improve underwriting, lease analysis, and portfolio modeling, investors are questioning whether advisory-driven revenue models could face long-term fee compression. At the same time, AI’s potential impact on white-collar employment is reviving office demand sensitivity concerns. For now, fundamentals remain intact. But public markets are forward-pricing disruption risk — and brokerage firms sit directly in that narrative.