Kentucky 96-Hour Salesperson Pre-License State Practice Exam

"Listing price" refers to the amount a seller publicly indicates they are willing to accept for their property in the real estate market. This is the price at which a property is offered for sale and serves as a starting point for negotiations between the seller and potential buyers. It plays a crucial role in attracting interest and setting expectations for both buyers and agents.

While the other options relate to various aspects of property valuation and financial obligations, they do not specifically define what "listing price" is. For instance, the total value of the mortgage pertains to the seller's debt, not what they are asking for the property. Similarly, the price a property sold for in the past is historical data that may influence a listing but does not define the current listing price. Lastly, the estimated appraisal value reflects an independent valuation of the property, which can differ from the seller's listing price based on market conditions.

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