Sep 30, 2026

By Mark Assaad, Director of Operations and Luxury Real Estate Advisor

The Assaad Group | Compass

In August, I spent three days at the 2026 Compass SoCal Luxury Summit at the Waldorf Astoria Monarch Beach in Dana Point, California. I sat in on seven sessions with some of the country’s top luxury agents, economists, and developers. The same five lessons kept coming up, and each applies to buying and selling luxury homes in Dallas-Fort Worth.

The short version

• Luxury buyers are buying time. Move-in ready homes sell. Homes that need work sit, even at the top of the market.
• Wealth moves the high end more than mortgage rates do. Stock market gains, business profits, and equity pay drive $5 million-plus sales.
• Taxes are shaping where people live. California’s transfer taxes, a proposed billionaire tax, and Prop 13 were all on the table. Texas came up by name.
• Clients now find agents through AI search. Agents who maintain one clear, consistent online identity show up. The rest get skipped.
• Trust is still the product. Every panel landed on trust, access, and follow-through.

What is the Compass SoCal Luxury Summit?

The SoCal Luxury Summit is an annual event Compass hosts for its luxury agents. 2026 was the third year. It ran August 10 to 12 at the Waldorf Astoria Monarch Beach in Orange County, with agents from California and a long list of other states, Texas included.

These are the seven sessions I recorded and reviewed for this recap.

Session	Speakers	The big idea
Leveraging Lifestyle to Build a Luxury Brand	Chris Clements, Jen Winston, Ryan Jancula, Claire and Sam O’Connor	Time and connection are the real luxury
AI for Top Agents	Matt Spangler	Run your business with AI, get found where clients search
Icons Panel	Sally Forster Jones, Marcy Weinstein, Valery Neuman	Local knowledge closes big deals
Luxury Market Snapshot	Mike Simonsen, Parker Beatty	Wealth drives the top end
AI and Human Intelligence	Adam Touni, Mike Johnson, Lindsay Neuren, Gretchen Coley, Butch Haze	Let AI do the repetitive work, keep the human work human
Keynote: One Beverly Hills	Larry Green, Cain	Buyers are trading estates for vertical living
Lifetime Achievement Award	Chris Cortazzo	Kindness and hands-on service build a career

Luxury clients are buying time

Ryan Jancula of Santa Monica put it plainly on the opening panel. Time is the scarcest thing his clients have, so luxury service means a process that protects it. Set expectations early. Say what you will do, then do it.

Jen Winston of Beverly Hills described luxury as emotion and connection. Chris Clements, who grew up on Coronado Island, talked about opening doors to the yacht club, boat slips, and local doctors long after closing. Claire and Sam O’Connor of O’Connor Estates walked through how they stage a home for the senses: live plants, scent, and editorial photos that make buyers want to see it in person.

On the Icons panel, Sally Forster Jones said her wealthiest buyers are rarely in a hurry. They buy when they fall in love, and she can usually tell within the first five minutes of a showing. Her buyers want homes that feel unique, with privacy, more land, and space for health and wellness. Marcy Weinstein of Newport Coast and Valery Neuman of Greater Palm Springs joined her on the panel, and the group agreed on one point. Buyers want turnkey homes because their time is worth more than the cost of a renovation. The panel said deals have fallen apart over renovation timelines alone.

What it means in DFW: If you plan to sell a luxury home in Southlake, Westlake, or Colleyville, finish the punch list before you list. A move-in ready home gives a buyer one less reason to wait.

Wealth moves the top of the market

Mike Simonsen, Chief Economist at Compass, joined Parker Beatty, Compass Regional Vice President for Southern California and Hawaii, for the market snapshot.

• In June, San Francisco had 44 sales that closed at $1 million or more over asking. All of 2025 had nine. Simonsen tied it to tech and AI employees tapping their private company shares before any IPO.
• LA and Orange County had about 1,400 homes listed at $5 million and up, with about 229 above $20 million.
• High-end sales dipped in 2023 across the country after the stock market correction, then recovered in 2024 and 2025. Simonsen said these buyers are rebalancing portfolios, and rates play a small role.
• Baby boomers are still net buyers of real estate. One of the biggest moves he sees is parents buying homes for their adult children.

He also said the markets gaining the most $10 million-plus homes share three traits: they are “builder friendly, security friendly, tax friendly.”

His advice on timing was simple: “If you love the house and you can afford the house, buy the house.” Trying to time the market, he said, “is always a fool’s errand.”

What it means in DFW: North Texas checks the builder-friendly and tax-friendly boxes. If you are waiting on rates to buy at the high end, watch your portfolio and your plans instead. Those tend to decide the timing.

Taxes are shaping where luxury buyers live

Sally Forster Jones explained how Los Angeles’ Measure ULA, often called the mansion tax, changed buyer behavior. For closings after June 30, 2026, the City of Los Angeles charges an added 4% on sales over $5.4 million and 5.5% on sales of $10.9 million or more. Beverly Hills is a separate city and does not charge it, and demand there has picked up.

The panel also raised Proposition 40, a one-time 5% wealth tax on billionaires that is on California’s November 2026 ballot. Marcy Weinstein urged the room to protect Proposition 13, which caps property tax growth for long-time California owners.

Simonsen took the other side on Prop 13. He said it keeps Californians in their homes 15 to 18 years, compared with about 10 to 11 nationally, and that fewer moves means fewer sales. Then he pointed to Texas. With about 10 million fewer people than California, Texas has more home sales.

What it means in DFW: Texas has no state income tax and no real estate transfer tax, so there is no mansion tax on a Texas sale. The tradeoff is higher annual property taxes than many Californians are used to. Budget for them before you shop, and ask a Texas CPA how your move affects you. We are not tax advisors, but we will connect you with good ones.

AI search is where clients find their agent

Matt Spangler, former Chief Marketing Officer at Compass and founder of Agent Intelligence, laid out a two-part plan. Use AI to run your business, from follow-up to market reports. Then make sure you show up in ChatGPT, which he said draws about 54% of AI chatbot traffic. His sharpest point: about 85% of an agent’s business comes from their sphere, yet he said only about 2% of agents use AI for follow-up.

His checklist for showing up in AI answers:

• Use the same name and market on every profile.
• Publish specific questions and answers.
• Collect reviews that mention neighborhoods and the process.
• Point everything back to one main page.

The AI and Human Intelligence panel, moderated by Adam Touni of Palo Alto, backed that up with real stories. Mike Johnson of Alcove Collective in Laguna Beach shared that after his team renamed itself, AI tools stopped finding them because their name showed up three different ways online. His fix is an “ID sheet” that spells out exactly how the team is listed everywhere. Lindsay Neuren of Austin moved at least half of her Google ad budget into AI search. She said it produced 11 closed deals since January.

Gretchen Coley of Raleigh said her team uses AI for back-office work, but you will never see a fake image or voice clone of anyone on her team. Butch Haze of San Francisco said clients still pick the person they trust. An agent’s real value is access to the right contractors, designers, and other pros. His team checks its service against one question: would the Four Seasons do that?

What it means in DFW: This post is part of how we apply it. We keep The Assaad Group’s name, market, and credentials consistent everywhere we show up, and we publish plain answers about Dallas-Fort Worth so clients and AI tools get the facts right.

One Beverly Hills and the move to vertical estate living

Larry Green of Cain, the developer behind One Beverly Hills, gave the keynote. The project pairs an Aman hotel and two Aman residential towers with a restored Beverly Hilton and 10 acres of botanical gardens.

• Cain closed about $4.3 billion in construction financing led by J.P. Morgan and VICI Properties.
• Green said over $1 billion in residences sold off-plan, with about 70% of buyers from greater Los Angeles.
• He said two-bedroom residences start around $20 million, and the average home runs about 6,500 square feet.

His line on the buyer: they are “handing off the house and the grounds, the staff, and they’re keeping the life.” Owners who once ran big estates want the lifestyle without the upkeep.

What it means in DFW: The same question comes up here with owners of large estates in Westlake and Southlake. How do I keep the lifestyle and drop the maintenance? Lock-and-leave homes and club communities answer it, and we help clients weigh both sides.

Chris Cortazzo on kindness and staying hands-on

The summit honored Malibu’s Chris Cortazzo with a Lifetime Achievement Award. The Compass tribute cited more than 30 years in the business and more than $12 billion in career sales.

When he moved to Compass seven years ago, his former company handed his 30 to 35 listings to a competitor who called every one of those clients. He did not lose one. His explanation: “I am not diluted with other people interacting with my clients.” His assistants pull MLS searches and comps so he can stay on the phone with clients.

He once got a lead from a gardener that became a $20 million sale. His advice was to be kind to everyone, and his goal for his legacy was simple. He wants people to say, “Chris Cortazzo was a really kind man.”

What it means in DFW: Kim and I have run The Assaad Group the same way. You work with us directly, and we answer the phone.

What this means for you

Referral partners

If your client is moving to Dallas-Fort Worth, from California or anywhere else, we handle the Texas side start to finish. That includes Texas contract terms like the option period, property tax budgeting, and the right local lenders and inspectors. You stay in the loop the whole way.

Current and past clients

Sellers, a move-in ready home still wins at every price point. Buyers, the best advice from the summit came from an economist: if you love it and can afford it, buy it.

Anyone relocating to Dallas-Fort Worth

We focus on Southlake, Westlake, Colleyville, Grapevine, Flower Mound, Argyle, and Las Colinas in the $1.5 million to $15 million range. All of them are within easy reach of DFW International Airport. Call or text (972) 544-6793 any time. We answer.

Frequently asked questions

What is the Compass SoCal Luxury Summit? It is an annual Compass event for luxury real estate agents. The 2026 summit, its third year, ran August 10 to 12 at the Waldorf Astoria Monarch Beach in Dana Point, California.

What were the biggest luxury real estate trends from the 2026 SoCal Luxury Summit? Buyers want move-in ready homes, the high end follows wealth more than mortgage rates, taxes are shaping where buyers live, AI search is changing how clients find agents, and buyers still want a trusted human advisor.

Does Texas have a mansion tax or real estate transfer tax? No. Texas does not charge a real estate transfer tax, so there is no mansion tax on a home sale.

Does Texas have a state income tax? No. Texas has no state personal income tax. Property taxes are higher than many movers expect, so budget for them and talk with a Texas CPA.

What should Californians know before buying a luxury home in Dallas-Fort Worth? Plan for higher annual property taxes, learn how the Texas option period works, and pick an agent who knows the specific neighborhood. Local rules and HOA details matter here just like they do in Newport Coast.

Which Dallas-Fort Worth communities does The Assaad Group serve? Southlake, Westlake, Colleyville, Grapevine, Flower Mound, Argyle, and Las Colinas, with a focus on homes from $1.5 million to $15 million.

How do I refer a client to The Assaad Group? Email: info@theassaadgroup.com or call (972) 544-6793. Our office is at 550 Reserve Street, Suite 650A, Southlake, TX 76092. We will keep you updated through closing.