New York State Real Estate Salesperson Licensing Exam 2025 – The Complete All-in-One Guide to Success

Listing price refers to the amount a property is offered for sale by the seller. This price is typically determined based on various factors such as market conditions, the condition of the property, and comparable sales in the area. It serves as a starting point for potential buyers and is publicly advertised to attract interest in the property.

Understanding the role of the listing price is essential for both sellers and buyers. For sellers, it represents their desired amount for the property, and for buyers, it provides a baseline from which they can formulate their offers. The listing price can also influence the property's marketability and the speed of sale.

In contrast, the other options describe different aspects of the real estate transaction process, but they do not accurately define what the listing price is. For example, the minimum price a buyer can offer or the final sale price after closing are not the same as the listing price, which specifically denotes what the seller has initially set as the sale price.