PSI New Jersey Real Estate Exam Complete 2025 Practice Test

A seller is required to indicate the desired sale price when signing a listing agreement because this information is crucial for setting the terms of the property sale. The sale price helps the real estate agent develop a marketing strategy and communicate effectively with potential buyers. It allows the real estate professional to position the property appropriately within the market to attract interest and generate offers.

While being a licensed real estate agent applies to the agent rather than the seller, and having a buyer lined up is not a prerequisite for listing a property, the desire for a specific sale price serves as a foundational element in the listing process. Similarly, a down payment pertains to the buyer's obligations rather than the seller's responsibilities in the context of a listing agreement. Thus, the indication of a desired sale price is essential for both the seller and the real estate agent to ensure a clear understanding of the seller's objectives.