Answer: Net listing is ILLEGAL in New York.
Explanation: In net listing, an agent can increase the price of a property to the highest value obtainable as against what the client has agreed with the agent.
In this type of listing, the profits are excessive and the property might take a long time before selling. In this case, a client might have found another property they want to acquire but because of the price set by the agent, it might take a longer period than expected to dispose off the already listed property.
It's is illegal in New York and some other states because of the excessive profits an agent stands to gain.