CompassRock International

Pierre Melhado

Pierre Melhado, Head of Ireland at CompassRock International, grew up in Belize in a family business of real estate and hospitality. After moving to the U.S., he built a career in multifamily and BTR, where mentorship and curiosity shaped his belief in technology’s power to enhance the customer journey.

Integrating Technology with Multifamily Needs

One of the most common issues is a technology company providing a solution to a problem that is not common in our industry. It is important to fully understand the multifamily/ BTR industry before a company goes to market with its product. This is why I mentor PropTech start-ups, as I want to ensure all stakeholders are aligned, as this will make for a more seamless integration. In addition, being a mentor brings me a lot of joy and also keeps me up to date on the latest tech. Another common mistake is that once the product is launched, the tech support goes away, and the onsite team struggles to properly understand the product, thus not unleashing the full capacity of the benefits the product offers. Both the PropTech provider and the multifamily/BTR operator need to have someone who will champion the product through all stages of its life cycle.

Adapting Global Strategies to Local Markets

You first need to become an expert in the local market by teaming up with proven local experts and doing your own research to validate what has been provided. Once this has been completed and verified, then I bring the technology provider on the journey from start to finish; this way they understand what regulations may affect their product offering. Most technology providers are very appreciative of this because they want to succeed as much as we (the operator) do.

“Listening more than speaking is important as this will help you identify any blind spots in the site operations and customer journey”

Leadership Habits for Sustainable Growth

Listening more than speaking is important, as this will help you identify any blind spots in the site operations and customer journey. This requires listening to both your employees and your customers, i.e., your residents. In addition, you need to be disciplined and strategic in your approach and not lose sight of your company goals. Discipline will ensure that your employees’ goals align and help in achieving the company goals, which should be clearly conveyed to all team members. This will ensure there is little to no ambiguity during periods of hypergrowth.

Advice for Cultivation Directors in Regulated Markets

Be open, honest, and transparent about the company’s vision and goals; own it and clearly convey it to all employees. By doing this, employees will take ownership and pride in the company but also bring up issues you may not have otherwise seen. However, you need to be empathetic, collaborative, and a good listener to do this successfully.