This positive sentiment from Peter Lowes, principal of The Lowes Group, is unique in Central Oregon these days. The Lowes Group, formally Lowes Commercial Properties, has chosen to re-invent themselves and relocate their corporate headquarters to downtown Bend. This may seem odd given the current state of the economy, but the decision was made to be bold rather than timid. Historically, tough times breed opportunities for those with the foresight to position themselves correctly, and that is exactly what The Lowes Group is intending to do.

When most companies in the real estate business are contracting, The Lowes Group is expanding their repertoire. To compliment their new catalogue of services, they have located their office on the second floor of St. Clair Place, a landmark building on Bond Street, in the heart of downtown.

According to Principal Property Manager Scott Gibbs, "Being downtown is important because it is a vibrant area and will foster our internal sense of urgency and vitality. Plus, we’ll be closer to our customers."

Formerly, the company focused on brokerage services for commercial real estate, which will still be a core aspect of the company’s efforts, but now they have added two new divisions: property management and residential real estate services.

"We’re not interested in expansion for expansion’s sake. We like the fact that we’re a lean and nimble organization which will serve us well in the rapidly changing economy. As a smaller shop; we don’t want to be the biggest, just the best," said Gibbs.

The Lowes Group now offers a comprehensive suite of real estate services: commercial brokerage (sales, acquisitions, leasing and consultation), commercial property management, residential sales and business brokerage.

The Lowes Group will continue to strive to set realistic expectations for their clients, while focusing on customer service and their clients’ needs and objectives. Because all commercial brokerages have access to essentially the same information, they believe customer service will set them apart. Their view is that their clients are really long-term partners.

On the residential side, Lowes explains, "The new residential division is a great fit for our company and allows us to offer the full range of real estate services. Patrick (Hill) and Michelle (Angelo) were the best choice for a move into this market because they are highly respected professionals and bring a wealth of expertise and experience to the table."

They too will count on superior customer service to build and maintain a healthy business, and are committed to not only being experts on their clients properties but all the surrounding properties as well. Essentially, knowledge is power, and coupled with excellent customer service, they believe they have a solid foundation to succeed during the challenges which lay ahead.

They also are thinking outside the box. "Not too long ago we held a catered garden party at one of our listings and had a jazz band. We invited all the neighbors which gets the phone ringing; it’s a hands-on, grass roots approach. When we have a client we enter a partnership and it is our objective to give them the highest quality of service and marketing we can; we sign an agreement detailing what we’re going to do for them and what we expect them to do (to help the process)," said Hill.

The final component of their restructuring is the property management side, where they see an opportunity to help landlords achieve the highest value and return for their property.

"Professional and competent property management doesn’t cost money, it saves money and if done right can actually make money for an owner by adding value to their asset." Gibbs explains, "The most important component for a landlord is putting together a good lease and then managing it. It’s important to get it right the first time because a poorly drafted lease can severely hinder the economics of the asset; if it’s not written properly it can be a liability for the owner."

It is true that many owners and brokers overlook the importance of the lease. Quite simply it is the document that defines the relationship between the landlord and tenant, and defines the revenue stream generated by the specific tenancies. Commercial real estate is valued based on the income an asset produces and that income is defined and hopefully guaranteed via the lease agreement. A flawed or sub-standard lease agreement can significantly devalue an owner’s property, so The Lowes Group will focus on making sure their clients have the best possible agreement for all parties.

In summation, The Lowes Group is setting an example for Central Oregon. Arguably, the real estate business is the toughest hit industry in this slumping economy. It is those companies, though, that position themselves to meet the challenges that lay ahead that will come out stronger then ever. Bigger isn’t better, smarter is better. The real lesson is something everyone should heed, especially these days: relationships, hard work and customer service will go a long way towards future success.