New York Real Estate Salesperson Exam 2025 - Complete Practice Guide

The listing price of a property serves as the initial figure set by the seller and represents the starting point for negotiations between the seller and potential buyers. It reflects the seller's perception of the property's value and aims to attract interest in the market. Buyers often use this price as a benchmark for making offers, considering their budget and the property's perceived worth. It is important to understand that the listing price is not necessarily the final sale price, as negotiations may lead to adjustments upward or downward based on various factors such as property condition, market demand, or buyer interest.

Other options, such as the final detail after negotiations, the tax value assigned by the county, or the historical price paid for the property, do not accurately convey the role of the listing price in real estate transactions. They pertain to different aspects of property value or sales processes that come into play after initial pricing or are tied to different assessments of value.