People complicate things, don't they? Overcomplicate to the extent that it appears unmanageable and cause procrastination. That's what happens when a new mortgage adviser joins your firm with their CeMAP gleaming under their belt. You want to get them to CAS status as soon as you can, as compliantly and successfully, but it all seems convoluted, time-consuming and a headache.
The answer is to call in the MEDICs. And not to over-complicate it. Let me explain.
MEDIC is an acronym. But you knew that, didn't you.
M stands for motivate. Another day, another dollar for this topic but pretty standard.
E is for explain. Here you need to explain what they need to do to become a successful mortgage adviser with your firm. You will want to explain the systems you use, the compliance requirements, the sales process, and each part's elements. You need to explain how to search mortgages using your search software of choice, how to contact customers, how to obtain new customers and so on.
You don't have to do the explaining "live" – you can pre-record it. We have a comprehensive video-based online course that does all the explaining. You can have a few documents such as the observation aid, the field guide, the compliance requirements available for the person to read. Explaining live in a classroom is so last century.
We also run live 90-minute live video classes if you have a few people going through their training at the same time. This helps them develop their skills and techniques in lead generation, referrals, gaining commitment and building rapport. This is part of the "Explain".
D there's a limit to the explaining. Very soon, you need to start demonstrating how to do it. The best way is via shadowing you or other advisers. Allow them to watch you or listen to your calls. Live or recorded. Allow them to use your firm's Field Guide or Observation Checklist whilst watching you, as they will want to see how the sales process comes to life.
I is for Imitate. You can also overdo the demo'ing. At some point, your new adviser is going to have to have a go themselves. In role-play. Like marmite, you hate or love role-play, but it's the only way to practise a skill in a safe environment. Conduct role-plays to cover the entire sales process using your observation aids to assess them. We do this – we call it our Virtual Mentor. It's powerful because of the next stage in MEDIC.
From role-play, you'll want to observe them with real customers. People react very differently from role-play actors. Only do this when they have reached a certain standard. They'll be under a lot more pressure now, but that's the point. Skill is only mastered when you perform a task under pressure; if there's no pressure, you're just playing with it.
C Coaching comes last. After role-play, your adviser will want their mentor to give feedback, coach, and develop them further. This is where they start to improve and mature in their skills. You can do this or hire us to do it for you under our Virtual Mentor scheme.
Follow the MEDICs; they will reach your standards, and then you can observe them one last time and approve them awarding them CAS. It's not that difficult.