The Weidel Corporation Celebrates 100th Anniversary
Pennington, NJ – The Weidel Corporation and its dedicated and accomplished team of professionals celebrate 100 years in business this year. According to Richard A. Weidel Jr., Chairman and CEO, “The Weidel 100 Year Anniversary arrives at a time of great opportunity. An opportunity made possible because of the confidence and trust we have earned through our ability to satisfy the needs of our clients throughout the entire United States. The high caliber of our people is the constant in our history, the legacy of our first 100 years.”
Founded in 1915, the Weidel Corporation has grown to encompass all parts of the residential and commercial real estate markets, including: brokerage (Weidel Real Estate), investment and development (Broad Oak Partners), real estate mortgages and finance (Princeton Mortgage Corporation), title insurance (Princeton Assurance Corporation), and real estate education and licensure (Princeton School of Real Estate).
Richard Weidel III, Vice President, notes that “our profession deals primarily with the interaction between people, therefore, our personal approach makes the difference. By effectively blending solid traditional values, a progressive management philosophy and careful attention to detail, our companies are regarded as some of the best to work for and do business with.” This year, the Weidel Corporation was recognized as a top family business in New Jersey by receiving the New Jersey Family Business of the Year Award from the Rothman Institute at Fairleigh Dickinson University.
“Another key component of our success has been the quality and dedication of our agents and brokers over the years. They share a unique sense of entrepreneurship and their extensive involvement in their local communities is an ongoing tradition in the Weidel history,” said Weidel Jr. The tradition has been formalized this year in the launching of the Community Partners Program, a program built to support local non-profits focused on homelessness, economic opportunity, education and hunger. The Weidel family companies participate in many charitable and community events in all their locations, including over 60 local events and fundraisers.
The Weidel Corporation began with plenty of hope and enthusiasm but with little capital. In fact, according to his first ledger, Karl Weidel Jr. had all of $25 in 1915 when he opened an office in the old American Mechanics Building on East State Street in Trenton. Only 23 years of age at the time, Karl Weidel Jr. was well known as a licensed insurance and real estate broker. When Karl Weidel Jr. was called into military service during World War I, his wife managed the real estate and insurance office and did so well that she became a permanent member of the company in addition to raising their children, Karl III, Richard Sr., and Elizabeth.
Karl III and Richard Sr., who served in World War II, took over the business in 1949. Karl III focused on the Insurance Department while Richard devoted himself to Real Estate. Operating in Mercer County and nearby areas in Pennsylvania, they concentrated on customer and client needs. Richard Sr.’s professionalism, high standard of ethics and passion as a realtor, helped the entire industry to better serve homebuyers and sellers. He was esteemed by his peers for his many contributions. He was named Vice President of the New Jersey Association of Real Estate Boards and founding member and President of the Trenton and Mercer County Multiple Listing System. He was the first broker in Mercer County to be honored by the National Association of Realtors as ‘Realtor Emeritus’ for his 50 years of service.
Richard Weidel, Jr. joined the company in 1979 just when the credit markets were entering a very chaotic period. He guided the company and the housing industry through one of its toughest phases. Under his leadership, Weidel Real Estate expanded rapidly by adding Princeton Mortgage Corporation, relocation services and The Princeton School of Real Estate. Princeton Assurance Corporation came under the Weidel umbrella in the 1990s. Throughout the company’s trying times and remarkable success, Mr. Weidel has remained accessible to everyone in the company. Furthermore, he has maintained his family’s 100-year tradition of commitment to quality service, personally guaranteeing customer satisfaction.
Last year, Richard Weidel III joined the Weidel Corporation. The succession of leadership to a fourth generation, extremely rare in American business, coupled with the Weidel Corporation’s on-going growth from a solid foundation, is particularly noteworthy within the business sector. Richard Weidel III refers to his father as “The most successful businessman I know.” Weidel III acquired from his father a deep appreciation for the people who make up the organization and are the source of its success over the last century.
With the addition of the fourth generation and a dedicated and talented team, the Weidel Story is a special one indeed. Weidel Jr. “has confidence the Weidel Corporation has an exciting 100 years ahead, and a rare opportunity to lead and to serve into the future.”