house account Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: house account
house account

account handled at the main office of a brokerage firm or managed by an executive of the firm; in other words, an account distinguished from one that is normally handled by a salesperson in the territory. Ordinarily, a salesperson does not receive a commission on a house account, even though the account may actually be in his or her territory.

house account

account handled at the main office or managed by an executive of the firm, distinguished from one that is normally handled by a salesperson in the territory.

house account

customer or prospect handled by the seller's management team rather than by a commissioned salesperson or agent. A house account might be a long-term customer with an established personal relationship with management or a prospect of especially great importance to the business. The seller must balance the desire to stay close to that customer against the salesperson's right to potential commissions. A salesperson cannot succeed with a territory that has had all the best prospects cherry-picked for house accounts.

Copyright © 2006, 2003, 1998, 1995, 1991, 1987, 1985 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright c 2000, 1994, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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