Paradigm co-founders Mark Jovanovic and Scott Hustis on AI, private listings and the NYC pied-à-terre tax

On this episode of RealTrending with Tracey Velt, founding Compass agents and Paradigm co-founders Mark Jovanovic and Scott Hustis share how Compass grew from a 50-person tech startup in Union Square to a national luxury powerhouse. 

They explain how helping build the platform from day one turned Compass into a true SaaS-style operating system for agents, with powerful backend tools that quietly drive their business. 

Mark and Scott dig into where AI genuinely helps—from data-heavy tasks to workflow efficiency—and where human insight and relationships still matter most. They break down the debate around private listings, the controversy over New York’s pied-à-terre tax and why New York City’s luxury market remains vibrant, with strong demand for larger, amenity-rich homes. 

They wrap with straight-talk advice for launching a modern luxury team: know your strengths, hire to fill the gaps, and don’t be afraid to move faster and think bigger.

Here’s a glimpse of what you’ll learn:

Compass scaled from a 50-person NYC startup to a top national brokerage in about a decade.

The platform’s edge is in its backend tools—deal tracking, metrics, and accounting.

AI is useful for speed and data, but it can’t replace human judgment and relationships.

Private listings can protect high-end sellers and highlight the value of local agents.

NYC’s luxury market is resilient, with strong demand for larger, amenity-rich homes.

The pied-à-terre tax worries owners as a new layer of taxation without clear benefits.

Buyers split between turnkey new developments and value plays in pre-war renovations.