Book of the Month: How Champions Think by Dr. Bob Rotella

There are books that reside on the bookshelf and there are books that remain bedside. Dr. Bob Rotella’s How Champions Think represents the latter. As a whole, the book can be a guide in teaching the methods and ideas used to help some the greatest athletes of our time prepare for mental success. But when time is limited and information can only be consumed between work, errands, mealtime, or the drive from one game to another, Dr. Rotella’s book becomes a masterpiece. Taken one chapter at a time, a simple phrase or passage can bounce around the mind for hours and provide the key to either unlocking a current problem or reinforcing the path to lucidity.

For decades, Rotella has been known among golf circles as one of the premier sports psychologists. Though golf and sports are an accurate metaphor for life, one doesn’t need to be a golfer or an athlete to find the value of his lessons. Insert work, family, relationships, hobbies, or passions, the comparisons are endless and the messages remain the same. Performance of the mind can be as important if not more important than the performance of the body.

The conversational tone and ease of Rotella’s writing makes it feel as if the reader is on a couch in his basement office surrounded by dozens of photos of the champions he’s helped reach the top. With my athletic days behind me, I’ve found the lessons applicable with the transfer of mastered soccer concepts toward everyday principles in teaching, coaching, writing, and real estate.

Mental health has been a hot-button topic for obvious reasons, but one doesn’t need to be dealing with failure, rejection, or depression to seek mental clarity. A healthy mind can lead to a greater quality of life, but if one’s goal is to be exceptional in a given field, Rotella makes the case that a positive mindset separates the champions from the contenders on a consistent basis.

There are many valuable quotes and passages, but here is one of my favorites:

It’s no coincidence that Phil Mickelson has been a highly successful, exciting golfer, and that he likes to say, “The birdies are in the woods.” What Phil means is that he remains optimistic even when he drives the ball off line, into the woods or rough instead of onto the fairway. That optimism is one reason he sometimes hits amazing recovery shots, like the one he hit off the pine straw to the 13th green en route to taking the 2010 Masters.

The opposite of this sort of situational optimism is an attitude of fear, concern, and doubt. In a word, pessimism. Pessimism tends to rouse the conscious brain and get it engaged. Our minds are programmed to work that way. In certain kinds of difficult situations, it helps to think things out calmly and rationally. I wouldn’t want my financial consultant, for instance, to pick investments for me without engaging it. But the conscious mind isn’t good for shooting or putting. It tends to make basketball players and golfers move stiffly and awkwardly. Balls clank off the rim and putts lurch past the hole.

“The birdies are in the woods” is a phrase that applies to all facets of life, and the message is the foundation of Rotella’s latest book Your Best Shot is Your Next Shot. We make mistakes. We call bad plays. Make the wrong substitution. Hit bad shots. Lose games. But many of us who possess an athlete’s brain continue to command our quest for improvement. Remaining in the present and focusing on the next play (shot/conversation/deal/test/moment) could be the single-most important piece of advice from a legendary mentor whose clients include the exceptional.

As a soccer player, I dabbled with visualization, meditation, progressive relaxation, goal-setting, and self-talk. I consider myself confident, but in hindsight, had I embraced the full power of mental clarity—performing without interference, accepting mistakes, finding and maintaining a flow state, loving the grind, achieving learned effectiveness—I would have spent as much time training my mind to reach its full potential as I did running, lifting, or shooting into a goal. Following Mickelson’s advice, we don’t need to look back to move forward. Whether standing over an approach at the par 4 16th at Five Ponds or preparing for the next sales call, the next moment represents a new opportunity to display that champion’s mindset.

Book of the Month: Hidden Potential by Adam Grant

Since early adulthood, my bookshelf has been filled with the latest and greatest in the fields of psychology, success, and performance. Recently, I discovered Adam Grant, an organizational psychologist at Wharton Business School whose primary research is in motivation and meaning. He has given numerous TED Talks, most of which can be viewed online, and his podcast Re:Thinking is a weekly staple. Hidden Potential helps readers recognize and understand qualities that lead to overall success in a wide range of fields. Many former and current athletes may not be surprised that possessing a growth mindset, pushing discomfort, being coachable, and embracing failure are among the many topics discussed.

Grant’s chapter Transforming the Daily Grind narrows down the importance of deliberate play. In particular, he highlights the relationship between trainer Brandon Payne and Steph Curry in which Payne transforms Curry’s intense training sessions into a game. I’ve long believed passionately about the value of deliberate play, which began with my time as an athlete and continued into my teaching and coaching practices. It is the secret ingredient in athletes and teams transferring skills and concepts from the training ground to the competitive field.

Here's a brief passage:

To make practice fun while building technical skills, Brandon created a menu of deliberate play activities. In Twenty-One, you get a minute to score twenty-one points with three-pointers, jump shots, and layups (worth one). But after each shot, you have to sprint to the middle of the court and back. Getting out of breath during the game stimulates the fatigue of the real game. “Every drill is a game,” Brandon explains. “There’s always a time to beat. There’s always a number to beat. If you beat the number and you don’t beat the time, you still lose.”

The downside of competing against others is that you can win without improving. They might have a bad day, or you might benefit from a stroke of good luck. In Brandon’s form of deliberate play, the person you’re competing with is your past self, and the bar you’re raising is for your future self. You’re not aiming for perfect—you’re shooting for better. The only way to win is to grow.

The basis of deliberate play is finding a flow state that balances fun and focus. It’s the understanding that how one practices is what separates great people, teams, and organizations from the rest. It’s been a philosophy long adopted by Brazilian soccer players, award-winning writers and musicians, and many other successful creators.

Grant’s work in not only primary research but in compiling the research of others draws upon a wide range of thinkers and doers. Even in his previous books, Think Again and Originals, he explores small characteristics successful people and groups share that may just help the rest of us find what we need to move that needle closer in our favor.

Professional Spotlight: James George, President, Global Mortgage

What would happen if a team walked onto a field without a goalie, a shortstop, or a center? That’s how valuable a mortgage expert can be for a homebuyer. We all can use someone to ease the financial pressures of achieving or maintaining our goals of homeownership, but having the right professional can feel like playing alongside Andre Blake, Trea Turner, or Jason Kelce.

Founded in 2001 and located in Warminster, PA, Global Mortgage, Inc. is licensed in Pennsylvania, New Jersey, Delaware, and Florida. “We assist clients on credit enhancement, program flexibility, and education,” Global Mortgage President James George said. “Whether it’s a purchase or refinance transaction, our brokerage has options to assist all types of clients.”

For the past several years, homebuyers (I was one of them) found themselves competing for overpriced homes with many upkeep items and rates that were stretching their budgets. That may have created a belief that maintaining homeownership is out of reach. According to George, the time may be now to act. The latest rate drop has made it easier for owners to lower their rate or even cash out to consolidate debt or make that home improvement they’ve been waiting to start.

For potential homebuyers, many who are waiting to build a 20% down payment on a conventional loan, the fear of record high prices may be keeping them from fulfilling their goals of ownership. Yet even in this market, buyers can still find solutions. “The challenge to save 20% plus closing costs can end up costing the client money,” George said. “Homes have increased 10% in price year after year, and it’s difficult to save at that rate. We offer numerous 3% down programs and even 100% financing options to assist the client in obtaining the house at a price now rather than watch the prices continue to increase.”

Potential homeowners can feel better knowing how a mortgage broker helps them acquire their dream home. With the process of homebuying affected by the recent NAR settlement and buyers on the hook for agent commissions, one positive is that George doesn’t see a big difference in the way buyers close. “Many of our transactions remain somewhat unchanged. There are options for rate credits when these situations arise.”

This means homebuyers can still trust the experience a valuable team member provides when the game is on the line.

The current market has been difficult for young homebuyers. Whether a lack of savings, mounting student loan and credit card debt, or the increasing cost of groceries, additional monthly expenses affect debt ratios and ultimately buying power. But before parents worry about their twenty-something year old children and their families moving back in, George and his team recognize new trends. “The younger buyers are looking at multi-unit homes to share the cost of mortgage debt, and several clients are purchasing a home with friends or family members to get started in the market.” While building equity through a partnership can help homebuyers achieve similar end results, Global Mortgage does offer grants and specialty programs to allow younger buyers to focus on lowering debts rather than runaway mortgage payments.

Despite the changes in the industry over the past several years, owning a home is still a stable investment and a dream worth pursuing. With the right teammates, current owners can avoid feeling bogged down by house expenses, and potential homebuyers can be a champion of the process.

Visit www.globalmortgageteam.net to achieve your homeownership goals today. For additional tips, Global Mortgage also posts a blog with invaluable information.

Buyers Post-NAR Settlement

If you haven’t been following the real estate market lately, you may have missed the latest news to affect the homebuying process. Earlier this year, the National Association of Realtors settled a class action lawsuit over alleged antitrust violations, which resulted in slight changes to how real estate transactions occur moving forward. Though the NAR affirms that agent commissions have always been negotiable, the center of the issue is the communication and transparency of consumer information. As a result, the consumer is now more informed when entering a transaction, and though current homebuyers may have been affected the most, the long-term benefit of the settlement lies within the homebuyer’s control in the process.

So what’s changed?

Agreements between a buyer and broker via an agent are now required before an agent is permitted to show a home.

Though buyer agreements have been strongly recommended for decades, most real estate buyer-agent relationships had been solidified through an Agreement of Sale. Buyer agent compensation is Included in this agreement. Prior to August 17th 2024, buyer agents were typically paid by the seller through what is known as a broker cooperation agreement. Essentially, a seller’s agent was paid a commission by the seller then split that commission with a buyer agent for bringing the buyer to the table. The buyer didn’t need to put up the funds necessary to pay their agent because compensation came from the seller. That has since changed. A buyer is now responsible for compensating their agent as agreed to in the buyer agency contract, and that number has to be specific in the BAC, whether a percentage of the sale price, a flat amount, or any other agreed upon number.

What’s important to note is that agent commissions are negotiable. When buyers are about to work with an agent, they should have conversations upfront about what the agent will do and what their time and efforts are worth. Also, buyers do not need a contract to speak with an agent at an open house or inquire about their services.

During this post-settlement transitional period, buyers may be better informed about their options but may not be financially prepared to incur these extra costs. Fortunately, support may still come from the seller. In an Agreement of Sale, two categories under Seller Concessions define how buyers may request financial support. Sellers may offer a buyer broker fee or closing cost assistance. The buyer broker fee refers to a buyer asking a seller to cover some or all of their agent’s commission. Sellers may still approve a seller’s agent to share a portion of the commission with the buyer agent as had been done in the past. All that transaction requires is an additional form that recognizes the agreement between two cooperating brokers. This section asks a seller directly for support. Closing cost assistance, formerly known as a seller’s assist, provides money back to a buyer at closing to pay for costs not associated with buyer broker fees. So whether it’s support with an agent commission or additional closing costs, a buyer may receive assistance from the seller to secure the deal. Other options for buyers to find additional funds should be discussed with a mortgage lender.

But why would a seller offer assistance to a buyer’s agent? For the simple reason that sellers still need buyers. Even in a seller’s market, more buyers means stronger offers. Sellers who fail to offer some sort of cooperation this soon after the settlement changes could be losing out on an opportunity to reach motivated buyers.

The second change to come out of the settlement for buyers focuses on the role Multiple Listing Services play in the sharing of information. MLSs are the most prominent way brokers share information with other brokers. After August 17th, 2024, seller agents are not permitted to advertise buyer agent compensation through the MLS. Sellers can still offer buyer agent compensation, as stated earlier, but must relay that information through other forms of communication (conversations, company website, flyers, signs, social media, etc.). A buyer’s agent can’t just rely on the information through MLS. They will need to pick up the phone or check another source.

In the end, the recent changes from the NAR settlement should bring more awareness to the buyer about the process of real estate transactions and encourage transparent conversations about a buyer-agent relationship. That in itself, should help buyers navigate one of the most stressful financial decisions of their life.

If you’d like to subscribe to Forward Thinking, a newsletter that combines real estate, soccer, performance, and more, click on the link below.

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