What does the term "listed property" refer to?

The term "listed property" refers to property that is currently listed for sale with a broker. This means that the seller has entered into a listing agreement with a real estate broker, allowing the broker to market and sell the property on their behalf. The listing indicates that the property is officially on the market and available for prospective buyers to view and purchase.

In real estate, being listed is a crucial step, as it provides the property with visibility and exposes it to a larger audience through various marketing channels, including Multiple Listing Services (MLS), online listings, and open houses. This is a key component of the selling process, distinguishing properties that are actively for sale from those that are not.

Other options, such as undergoing renovation, are not related to the active selling status of the property, while properties in foreclosure and those sold at auction pertain to different legal and financial contexts rather than the status of being actively marketed for sale through a brokerage.