PRIME RATE Definition

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PRIME RATE is the interest rate that banks charge to their preferred customers. Changes in the prime rate influence changes in other rates; mortgage interest rates for example.

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LISTING is a written contract between an agent and a principal giving authorization to the agent to perform services for the principal involving the principal's property; or, a record of a property for sale by a broker who has been authorized by the owner of the property to be sold.

BILLABLE HOURS is professional hours worked and billed to clients.

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