Eric Dalius
Retired real estate
and marketing professional Eric Dalius has made it his mission to further the
cause of higher education. His foundation, the Eric J. Dalius
Foundation, will give up to
$50,000 to deserving students this year. He believes in the power of higher education
to change lives for the better.
Dalius encourages all students to think about their careers when choosing
college majors. He firmly believes that students who have a career focus in
college will be more successful later in life.
Eric Dalius graduated from Penn State University in 1992. He received a degree
in Marketing. After college, he began his career in marketing and real estate.
Throughout his career, he was involved in at least $100 million in deals,
making him a successful entrepreneur. Dalius shares his thoughts on real estate
and success with readers.
What do you know about the real estate industry?
I know a great deal about real estate. That is one of my professional fields along with marketing. I am an expert in buying and selling properties, especially commercial and industrial properties. My company, Saivian International, was a successful endeavor.
Have you ever sold real estate? How did you make it happen?
I have sold millions of dollars’ worth of real estate. The key is finding the right buyer. If you spend time trying to court the wrong buyer, you’ll end up wasting your time. Being honest about the property and its limitations is another important part of real estate sales. It’s important to do everything you can to keep the deal alive.
How much experience do you have in buying or selling real estate?
I have many years of experience with both buying and selling real estate. I started out with residential properties and then moved into commercial and industrial properties. Each property taught me something new about the industry.
Have you ever made a sale or a purchase you have regretted?
Yes, there have been a few. I rehabilitated commercial space for a while, and there were a few buildings that were in terrible shape. I ended up spending too much money to redo the properties, so I came in at a loss on the project. I learned to completely calculate the risks and benefits of each sale before making a commitment.
What advice would you give inexperienced people who are wanting to buy or sell?
Be careful when choosing a realtor. Make sure you find someone who will fight for you. The worst thing is to have a realtor who is too involved with the buyer, or worse, with the buyer’s realtor. Then they may hurt you in the price of your property.
What have you found out to be the best way to market property?
Online and through word of mouth are my most successful prospects. I also publish listings in business newspapers to catch people who are not yet comfortable using a computer for everything. You’d be surprised at the success of these low-tech methods.
What tools do you believe are essential for success in the real estate industry?
Honesty, integrity, common sense, and moderate risk taking are all crucial parts of success in real estate.
What has real estate taught you about life?
Real estate was my life for many years. It’s taught me to be patient. It’s also taught me to take measured risks. Without risk taking, your career will stagnate.
How can you use what you have learned in real estate to succeed in other areas?
These principles work in any area of business. Do your homework, be honest and fair, and don’t be afraid to take a risk from time to time. Build up a cushion so that you can cover all of your expenses in the event that a deal falls through.
Do you have a mentor who taught you what you know?
No, I learned the business myself from the ground up. I made some mistakes when I first started investing, but I was able to teach myself to be a successful real estate professional.
Do you have a feedback system? How does it work?
Not really. I consider my sales success to be my feedback. If I’m doing well, I will make money, and if I’m not, I will lose money.
