Etedali's Resilience Finds Success in the Real Estate Market

Magazine of the Marshall School of Business at USC

His parents, concerned for his safety, wanted him to return to the US. He left just in time. Two days later the airport he departed from was bombed by the Iraqi air force. However, he was not in the clear, yet. Now in Germany, Etedali went to the American embassy only to have his American Visa stamped "cancelled." The US no longer allowed entry to Iranians.

Unfortunately, Germany would not allow Etedali to remain for longer than a few weeks. In fact, due to the conflict, many countries were denying Iranians entry. Etedali fled to Sweden, whose borders were open, but soon found he would not be allowed to remain for long. Desperate, he hired an attorney who stated clearly that the most they could hope for would be to delay deportation. It was then he decided to take matters into his own hands. On a snowy day, Etedali went to the American Embassy to arrange his return to the United States. "They wouldn't even let me go inside," Etedali said, "but I kept going back." A new philosophy of life grew from that experience. "Fear can keep you from attempting to do something or it can be the impetus for continuing on." With polite persistence, every few weeks Etedali returned to the embassy, finally allowed into the lobby, but continuing to hear "no." Over time, the staff at the American Embassy grew to like him. Finally, an opportunity opened and Etedali was given the chance to return to the US with the suggestion he become a citizen. Etedali is now Senior Vice President for Sperry Van Ness, one of the West Coast's largest and fastest growing commercial real estate brokerage firms. In a company with 150 brokers, he managed to distinguish himself and has listed, marketed and sold over $350 million in retail properties. In 2000, he was named Broker of the Year for the second time in three years, moving up from second place in 1997. Some of his biggest clients have included Cigna, GE, Haseko, Watt Commercial Properties, ING, Excel Legacy (Price Enterprises), Phoenix Life, and Union Bank. Sperry Van Ness has 19 offices throughout California, Nevada, Utah, Arizona and Texas.

Etedali attended San Diego State as an undergraduate, then received his MBA with emphasis in real estate finance and marketing from the Marshall School. He credits his professors at Marshall and the networking opportunities he gained as prime contributors to his success. "I chose USC because of the attitude and culture there. I found the Trojan family spirit to be very real," Etedali said. It should come as no surprise that with Etedali's resilience he would find success in the real estate market. Throughout school, in every psychological profile Etedali took, broker listed at the top as a potential career. His fellow students thought his career choice absurd when he chose it. "You can work six months on a deal and if it falls through, you lose. You don't get paid for 99% success you only get paid for 100%. This is a hard concept for many people," Etedali remarked. He feels one of his best decisions as a student was taking real estate and entrepreneurship classes. "They helped me develop and focus on the goals I wanted to accomplish." If there is something he wishes he had done differently at USC, it would have been to take advantage of the many associations available through Marshall. He also feels he would have gained something more had he chosen to intern with a company.

"Many businesses are happy to take student interns because they are usually bright, eager, enthusiastic and cheap labor," says Etedali, but insists that doesn't mean the advantage is all to the employer. "In return, a student learns a great deal from the company and makes connections that can be very valuable in his/her career."

Etedali recalls being a developer during the real estate recession of the early 90's and struggling to keep his head above water. He feels that his greatest experiences came from having to live through the last down turn. Even though some say times are a little slow now, he believes it is the right time to invest in real estate, and that the outlook is positive. "I'm already seeing people take money out of their stock portfolio investments and put it into real estate opportunities. The fundamentals for real estate investment are far better than they were in the early 90's." While many people shun the influx of real estate sales competitors, Etedali embraces the challenge. Competition, he feels, hones your skills. "You are always thinking of what your competitors are going to do and what you can do to outsmart them as well as what you are going to learn from them. One only has to look at the old communist countries and see what lack of competition does for people."

Etedali also credits his father, who was a real estate developer and Persian rugs exporter, for helping him become the salesman he is today. "I worked for him negotiating deals all over Europe and the US. Persian rug merchants are some of the toughest negotiators in the world, and I learned a lot from them." Although spending long hours at the office, Etedali still plans time with his wife, Nina, and family. He is most proud of his two sons and loves spending time playing with Kian, 4, and Ash, 1. "I used to come home, play a little with the kids, relax, check my email, go through the mail, then watch CNN for news and stock information. Now, I come home, play with my kids, eat dinner and play some more with them, then read to them and put them to bed."

On Saturdays, Kian frequently accompanies Etedali as he looks at property, just as Etedali did with his father when Etedali was Kian's age. His wife and baby occasionally join them, but often it is time just he and his son spend together. "There's always an ice cream store, pizza place or pet store we can stop in for fun."

Another passion is reading. "I like learning about people who accomplish great things and overcome insurmountable obstacles and to learn how they did it. I find that very inspiring."

Each morning at his office, Etedali assesses his progress towards his long- and short-term goals. "I look at the roles in my life, as a father, as a husband, as a broker, whatever. If there is a task that doesn't accomplish what I want, then I don't waste my time doing it."

Etedali is very happy with his life in real estate and feels fortunate to have discovered it. "In Iran you either go to graduate school to become a businessman or go to medical school to become a doctor. My sister became a doctor. I couldn't stand blood," Etedali jokes.

Etedali says students should not become frustrated if they do not immediately find their niche or have to struggle to obtain their goals. He compares life to being a diamond cutter, "You have to keep cutting things away and polishing until you expose the brilliance of what you can be."