Richard Weidel Jr. Chairman and CEO, Richard Weidel III Vice Presdient, Brian Jennings President of Princeton Mortgage Corporation and Emily Kettenburg VP of Sales for Weidel Real Estate celebrate 100 years at the Weidel Corporation picnic.
The Weidel Corporation and its team of professionals celebrate 100 years in business this year. 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.
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).
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 home-buyers and sellers. 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, 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.
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