president and CEO of Bennett Williams Realty Inc.
Q: What has been the greatest challenge in the commercial real estate industry in the last few years?
A: Our industry has been flipped upside down over the last three to four years.
We went from a time in which real estate values were soaring and development deals were plentiful to a time in which many of the national retailers and local tenants alike put the brakes on and took more of a sidelined approach to expansion until the dust settled and everyone felt a little more confident in the future of the economy both on a local and a national level.
Tell us a bit about the recent changes at Bennett Williams and the reasons behind those changes.
Bennett Williams has served Pennsylvania since 1956 and has built a solid name and reputation throughout Pennsylvania and much of the East Coast.
For the last 10 years, Bennett Williams was part of the Coldwell Banker Commercial network and has just recently decided to abandon that affiliation and go back to being known as Bennett Williams Realty Inc.
Our name in this industry has earned us the reputation of being a top-quality commercial brokerage firm specializing in retail and commercial transactions, while always striving to achieve the best results possible for all of our clients.
You’ve recently been promoting your Tenant Representation division. What is tenant representation? Is that a new area for your company?
Our Tenant Representation division is the arm that handles site selection and representation for national and regional retailers looking for quality locations to either expand or relocate.
This is a service that we have always offered; however, it is something that our firm has been focused on growing by way of cultivating our existing relationships and developing new ones.
What differences are there between doing commercial and residential real estate?
Although I can’t speak in detail about residential real estate, I can easily say that the commercial and residential industries are vastly different. We often spend years developing relationships with our clients before we ever do the very first deal with them, then more often than not we end up doing numerous deals with our clients as they roll out their locations throughout the various markets we work within.
We provide our clients with all the tools and info necessary so they are confident in their decisions to lease or purchase space, and take much of the guesswork out of that equation.
What do you love about your job?
I love having the ability to change the complexion of the region by bringing new concepts to Central Pennsylvania. It’s extremely satisfying to know that you had a hand in bringing new jobs and new retailers to our community.
I also enjoy the mentoring aspect of my job. We have a number of agents who are newer to the industry, and it gives me great satisfaction to work hands-on with them and watch them succeed.
About Chad Stine
Chad Stine, 36, is president and CEO at Bennett Williams Realty Inc. He holds a bachelor’s degree from Penn State and has worked at Bennett Williams for 13 years.
He lives in York Township with his English bulldog, Angus.